Triton Partners Said to Build Stake in Recycling Firm Befesa (1)

Buyout firm Triton Partners has built a stake in Befesa SA, people familiar with the matter said, marking a return to the waste recycling firm after its exit more than five years ago.

Triton now holds less than a 5% stake in the Frankfurt-listed firm, the people said, declining to be identified discussing confidential information. Shares of Befesa surged as much as 8.6% on Monday following the Bloomberg News report. The stock has risen about 25% this year, giving the company a market value of about €1 billion ($1.1 billion).

The exact size of Triton’s stake in Befesa couldn’t ...