EQT and GIC disclosed that the EQT Infrastructure V fund (EQT Infrastructure) has signed an agreement to sell a 25 percent minority stake in Reworld™ to GIC via a combination of primary and secondary capital. EQT Infrastructure took the company private in November 2021 and will remain the largest shareholder following the closing of the transaction.
Reworld has rapidly scaled into a leader in sustainable waste solutions, providing environmentally responsible services to businesses and communities throughout North America. Since 2021, Reworld has nearly doubled its number of operational facilities and increased headcount by 800, significantly expanding its reach across new and existing core geographies. Today, Reworld reduces, recycles and recovers more than 20 million tons of waste across over 100 facilities for more than 4,600 customers.
The stake sale marks a strategic milestone in the company’s journey. As a strategic partner, GIC’s significant financial capital and scale will play an essential role in accelerating the company’s growth plans, and meeting the growing demand for sustainable waste solutions from it’s municipal, residential, commercial and industrial customers in North America.
The transaction is subject to customary conditions and approvals and is expected to close in Q1 2025.