Milbank Aids EQT’s ‘Longer-Hold’ Plan, $7 Billion Anticimex Deal

Milbank said it advised Sweden-based private equity firm EQT AB on its new, longer-hold strategy, for which the first transaction is an extension of EQT’s investment in pest control company Anticimex.

“Having a positive impact on societal and environmental problems takes huge investments, real commitment, and time,” said Per Franzen, head of EQT’s private capital advisory teams, explaining the move to longer investments.

The EQT VI fund is the selling party in the transaction, which is expected to close in the fourth quarter and values Anticimex at around $7.22 billion (60 billion Swedish Krona), according to a statement.

Bloomberg News, citing people familiar with the familiar, reported that EQT is selling the Stockholm-based business to a new fund it’s currently raising that is focused on longer-term investments.

Andreas Aschenbrenner, a partner on EQT Private Equity’s advisory team, called Anticimex, which says it uses technology for pesticide-free solutions to reduce pests, a “perfect example of a company that long-term can reshape an industry and have a substantial positive impact.”

Other long-term investors in the transaction include Melker Schörling AB and Singapore wealth fund GIC, among others, the statement says.