09:00 AM EST, 02/12/2026 (MT Newswires) -- Blackstone (BX) and Swedish investment firm EQT on Thursday agreed to acquire Spain-based waste management infrastructure platform Urbaser from Platinum Equity in a deal worth roughly $6.6 billion.

Funds managed by Blackstone Infrastructure and the EQT Infrastructure VI fund are acquiring the platform, which collects, manages and treats municipal and industrial waste, according to Blackstone. Platinum Equity said it purchased Urbaser in 2021 from China Tianying for around $4.2 billion.

Blackstone's shares declined 0.2% in the most recent premarket activity.

"Urbaser is renowned for its technical expertise, decades-long experience and long standing customer relationships," said Adam Kuhnley, co-head of European investments at Blackstone Infrastructure. "We are excited to partner with management and EQT to support the company's next phase of growth as it capitalizes on strong demand for greater resource efficiency."

Blackstone and EQT said separately that they will each own 50% of Urbaser and jointly manage the company. The two firms intend to support the platform's expansion and strengthen its core municipal waste operations.

Platinum Equity will retain Urbaser's waste management operations in Argentina. The deal is subject to customary conditions and approvals, according to EQT.

"This transaction is the reflection of the value creation potential of Urbaser," Fernando Abril-Martorell, chief executive of Urbaser, said. "We are eager to continue providing leading solutions to our customers in this new phase, accelerating our investment and growth path, working hand by hand with EQT and Blackstone as our strategy partners."