EQT Infrastructure II Buys Synagro

EQT Infrastructure II has acquired Synagro Technologies. EQT said the deal completes the refinancing of Synagro under a Chapter 11 plan of reorganization. Synagro's balance sheet has also been restructured with about $200 million cut from outstanding debt. Synagro, a portfolio company of the Carlyle Group, filed for Chapter 11 bankruptcy in April. Press reports valued the sale to EQT at $480 million. Houston-based Synagro is the largest recycler of organic waste in the United States. RBC Capital Markets provided financial advice to EQT.

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