H.I.G. Capital, a leading global alternative investment firm with $70 billion of capital under management, is pleased to announce that one of its affiliates has acquired a controlling interest in Fluo Group Oy (“Fluo” or the “Company”), a leading regional waste management and recycling platform based in Finland.
Fluo plays a critical role in Finland’s circular economy, operating a fully integrated platform that spans waste collection, sorting, and treatment, as well as the downstream production of recycled plastics and lubricants. In partnership with Fluo’s management team, H.I.G. will support the Company’s next stage of growth, driving the expansion of Fluo’s service offering, reinforcing its strong regional presence, accelerating investments in sustainable waste infrastructure, and broadening Fluo’s geographic reach across Finland by extending its integrated circular model to a wider national footprint.
Petri Aaltonen, CEO of Fluo, commented: “This investment marks a significant milestone in Fluo’s journey to develop circular economy solutions. We look forward to partnering with H.I.G. to deliver even greater value to municipalities, businesses, and the environment. H.I.G. is extremely experienced in driving growth within its portfolio companies through deep operational expertise, in providing strategic support, and in executing buy-and-build initiatives.”
Andrew Liau, Head of Europe Infrastructure at H.I.G., said: “The waste management industry across Finland and the broader Nordic region is undergoing significant transformation driven by the move to a circular economy. We see significant potential to grow the business in new waste streams and to consolidate the market both locally and internationally through add-on acquisitions.”
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