Altor to Buy Evac in €600M Deal, Bolstering Clean Marine Tech Portfolio

Altor Equity Partners is close to completing a deal to acquire Evac, a Finnish clean technology company currently backed by Bridgepoint Group Plc, according to multiple sources. The transaction is expected to value the firm at over €600 million. Evac, which specializes in water treatment and anti-biofouling solutions, has grown significantly since Bridgepoint acquired it in 2017.

Bridgepoint helped reposition Evac to focus on after-market solutions and expanded its product offering through six acquisitions. Evac's EBITDA is projected to reach €47 million this year, driven in part by naval spending programs.

Altor, known for its investments in the marine sector, has a portfolio that includes companies like Wrist, Navico, and Nimbus Boats. This acquisition aligns with its strategy to consolidate expertise in maritime technologies.

Strategic Rationale for the Acquisition

The deal is seen as a strategic move for Altor to strengthen its position in the clean technology sector. Evac's core competencies in water treatment and anti-biofouling align with Altor's existing portfolio of marine-related investments. The company's recurring revenue model and high EBITDA margins make it an attractive addition to Altor's holdings.

Evac has also demonstrated resilience amid global supply chain challenges and geopolitical tensions. Its recent growth has been supported by naval modernization programs and increasing demand for sustainable solutions across marine and offshore industries.

Bridgepoint's decision to exit its stake in Evac reflects a broader trend among private equity firms to monetize successful investments after periods of strategic growth. The firm has remained mum on the deal, as has Altor.

Market Implications and Industry Context

The €600 million valuation places Evac among the more valuable targets in the clean technology sector. With EBITDA expected to reach nearly €50 million this year, the company represents a solid return on Bridgepoint's 2017 acquisition. Analysts view the deal as another example of consolidation in the environmental technology space, where firms with niche expertise and recurring revenue streams are increasingly sought after.

The marine and offshore industries are undergoing a transformation, driven by regulatory pressures to reduce environmental impact. Evac's anti-biofouling solutions help shipowners comply with emissions regulations while improving fuel efficiency. This positioning is likely to make the company a valuable asset in Altor's portfolio.

In parallel, other investment firms are also making strategic moves. For instance, a recent $5 million stake in Azenta by a fund highlights a broader trend of investors seeking companies with strong operational execution and margin expansion potential according to financial reports. However, such moves are distinct from Altor's Evac acquisition, which focuses on physical infrastructure rather than biotech or life sciences.

Outlook for Evac and Altor

With Altor poised to take control of Evac, the next focus will be on integration and future growth strategies. Altor's track record in managing marine and maritime firms suggests a likely continuation of Evac's current trajectory, with further expansion of its product lines and geographic reach.

The acquisition also reflects Altor's broader strategy of targeting firms with high margins and long-term sustainability credentials. Given the current market dynamics, the firm is likely to benefit from increased demand for environmental solutions in both the public and private sectors.

As the transaction nears finalization, market participants will be watching for signs of operational synergy and whether the company can maintain its recent momentum. For now, the deal underscores the growing importance of clean technology in global investment strategies.