News
Read the latest news, articles, and updates from our organization, so you can stay connected and up-to-date with our community.
Integrated Annual Report 2023
We are pleased to share our annual report for 2023. This report details our financial value creation, and highlights our commitments to environmental sustainability and social responsibility.We made significant strides toward our ambitious goal of accelerating the transition to a circular economy across the Nordics. This is made possible by strengthening our customers and partners through circular solutions and environmental services, offering tailored strategies that drive both sustainability and economic growth.
Summa Equity through NG Group acquires Fortum Recycling and Waste
Fortum has today signed an agreement to sell its recycling and waste business to the thematic impact investment firm, Summa Equity through its portfolio company NG Group. The total consideration on a debt- and cash-free basis is approximately EUR 800 million. Based on the balance sheet available at signing, Fortum would record a tax-exempt capital gain of approximately EUR 110 million, however, the final capital gain will depend on the balance sheet value at closing. The gain will be reported as Items Affecting Comparability in the Other Operations segment’s results once the transaction is closed. The transaction is subject to customary closing conditions and is expected to be completed in the fourth quarter of 2024.
NG Metall Welcomes Roy Hammer as New CEO
Claes Merborn has decided to step down from his position as CEO of NG Metall, a part of the NG Group. Roy Hammer has been appointed as his successor. NG Metall is recognized as a leading player in circular solutions for iron and metals, with advanced facilities in Norway, Sweden and Denmark where several hundred thousand tons are recycled annually.
Announcement from NG Group & Summa Equity
Summa announces the closing of Summa Circular with an investment in NG Group, a company originally acquired by Summa Fund I in 2018. Ownership of NG Group is thus transferred from Summa Fund I to Summa Circular. The ~EUR 550m transaction will allow Summa and the NG Group management team to continue executing their value creation plan by capturing the expanding market opportunity stemming from the shift towards a circular economy.