EQT Holding AB: EQT Infrastructure II acquires Synagro Technologies, the leading organic residuals management provider in the

  EQT Holding AB: EQT Infrastructure II acquires Synagro Technologies, the
  leading organic residuals management provider in the US

Business Wire

STOCKHOLM -- August 22, 2013

· EQT Infrastructure II closed the USD 465 million enterprise value
acquisition of Synagro Technologies, Inc.

· Company’s debt reduced by approximately USD 200 million

· Tapping into resources from EQT’s diverse Industrial Network, the management
team aims to accelerate Company growth

The acquisition of Synagro Technologies, Inc. (“Synagro” or the “Company”) by
EQT Infrastructure II completes the refinancing of the Company under a
comprehensive Plan of Reorganization approved by the Court with the full
support of the Company’s creditors via the Chapter 11 process. Through working
constructively with its creditors and backed by EQT Infrastructure II,
Synagro’s balance sheet has been completely restructured, including an
approximate USD 200 million reduction in outstanding debt. The new capital
structure leaves Synagro with ample operational flexibility to execute on
attractive growth opportunities.

“The new balance sheet and support from EQT’s Industrial Network will enable
Synagro to capitalize on a variety of significant market opportunities,” said
Eric Zimmer, Synagro’s President and CEO. “We are excited to have the full
support of EQT as we work to execute our plan to continue and accelerate our
strategic growth and increase the valuable solutions we deliver for our
existing and new customers across the country.”

Execution of the new growth plans is already underway. This week Synagro
announced the construction of a new bio-recycling center in Charlotte County,
Florida. The state-of-the-art facility, which will go commercial in early
2014, will safely and efficiently provide for the recycling of up to 50,000
wet tons of biosolids using energy efficient technologies that convert the
material to a valuable nutrient rich product. The facility will be capable of
producing up to 75,000 cubic yards of Class AA compost for use in the local
agriculture and landscaping market, creating a sustainable closed-loop process
that returns the organic nutrients back to the soil.

“High quality treatment and recycling of biosolids protects human health and
the environment and Synagro is the U.S. market leader,” says Glen T.
Matsumoto, Partner at EQT Partners, investment advisor to EQT Infrastructure
II. “We believe there are abundant opportunities to help Synagro grow its core
business by finding additional ways to serve its customers and grow further
into new U.S. markets. We look forward to working with Synagro’s management to
build an exciting future for the Company.”

“Having had the opportunity to get to know the Synagro management team over
the past several months, I am convinced that Synagro has an exciting future
and I’m delighted to be a part of it,” says Geoffrey Roberts, new Chairman of
the Board of Synagro and Industrial Advisor to EQT. “The public and industrial
wastewater industry has ever increasing demands for the specialized types of
services and the proven expertise and capabilities that Synagro uniquely
provides to its clients day in and day out. The new Board and the extended EQT
Industrial Network is committed to provide the support and resources necessary
to ensure that this future is about innovation, first-class customer service
and growth.”

EQT Infrastructure II was advised by the law firm of Weil Gotshal & Manges and
financial advisor RBC Capital Markets.

About EQT

EQT is the leading private equity group in Northern Europe with approximately
EUR 20 billion in raised capital, portfolio companies with total sales of more
than EUR 25 billion and over 550,000 employees.

The funds’ investment philosophy is to help acquired companies grow and
develop into great and sustainable companies, both under EQT’s ownership and
with future owners.

The result so far: EQT owned companies have on average increased the number of
employees by 11%, sales by 11% and earnings by 15% annually during the EQT
funds’ ownership. Almost all of the return on investments is attributed to
operational improvements such as increased sales and efficiency gains.

EQT Infrastructure II at approximately EUR 1.9 billion is the second fund
within the infrastructure investment strategy. The first fund closed in 2008
at approximately EUR 1.2 billion. EQT Infrastructure II seeks to invest in
medium-sized infrastructure companies with a significant opportunity for value
creation through accelerating growth and implementing operational
improvements. Potential investment targets are basic infrastructure,
concession-based infrastructure and infrastructure-related services.]

More information can be found on www.eqt.se

About Synagro

Founded in 1986 and headquartered in Baltimore, Maryland, Synagro provides a
system of solutions for civic and commercial organizations that manages
by-products to create new, environmentally compelling options. The Company’s
reliable, lasting system transforms industrial and municipal waste into
environmentally sustainable resources that benefit our communities and our
planet - before an environmental footprint is left behind. As the largest
recycler of organic by-products in the United States, Synagro uses
best-in-class processes from beneficial reuse to renewable energy that adhere
to the strictest of environmental regulations to provide sustainable solutions
for communities across the nation. Serving more than 600 municipal and
industrial water and wastewater facilities throughout the U.S., the Company’s
leading systems of by-product management services help municipalities of all
sizes save money and meet environmental regulations.

More information can be found on www.synagro.com

This information was brought to you by Cision http://news.cision.com


EQT Holding AB
Glen T. Matsumoto
+1 917 281 o838 4502
Partner at EQT Partners, investment advisor to EQT Infrastructure II
EQT Press Department +46 8 506 55 334
Jamie Kinder
+1 443 489 9016
Director of Communications
Synagro jkinder@synagro.com
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