Summa Equity acquires Norsk Gjenvinning in a $500M transaction.

Norsk Gjenvinning, an Oslo, Norway-based recycling company, announced that its owners, Altor, entered into an agreement to sell its majority position in the company to Summa Equity.

The deal is valued at NOK 4.2bn ($500M). Norsk Gjenvinning was acquired by Altor in 2011.

Norsk Gjenvinning, led by CEO Erik Osmundsen, is the leading Norwegian waste recycler and provides services for all types of waste, operating along the whole value chain from collection through processing/recycling to selected downstream solutions. The company has around 1200 employees in Norway, Sweden, Denmark and UK and annual revenues of just over NOK 4bn ($500M).