H.I.G. Capital Acquires a Majority Stake in Finnish Circular Economy Leader Fluo Group

H.I.G. Capital Takes Major Step in Circular Economy Investments

On August 20, 2025, H.I.G. Capital, a prominent global alternative investment firm, announced its acquisition of a majority stake in Fluo Group Oy, a leading Finnish platform specializing in waste management and recycling. With $70 billion in capital under management, H.I.G. is well-positioned to invest in sustainable solutions that align with the modern circular economy.

Fluo Group operates an integrated platform in Finland that encompasses a wide range of services, including waste collection, sorting, processing, and the production of recycled plastics and lubricants. The company plays a vital role in supporting Finland's transition to a circular economy, highlighting its commitment to sustainability and environmental protection.

As Fluo's CEO, Petri Aaltonen, emphasized, this investment represents a significant milestone in the company's journey towards enhancing circular economy solutions. He stated, “We look forward to collaborating with H.I.G. to deliver more value to municipalities, companies, and the environment.” H.I.G. has a proven track record of fostering growth within its portfolio companies, providing essential strategic support, and executing successful buy-and-build initiatives.

Andrew Liau, Head of Infrastructure Europe at H.I.G., noted the ongoing transformation within the waste management sector in Finland and the broader Scandinavian region. He explained that the transition towards a circular economy brings substantial opportunities for growth and consolidation, both locally and internationally, through strategic acquisitions in new waste streams.

Fluo is recognized as a Finnish leader in the circular economy, providing integrated operations across the waste management value chain. The company serves over 3,000 businesses and 35,000 households, establishing strong public-private partnerships primarily in Ostrobothnia and Eastern Finland. Its services not only contribute to environmental sustainability but also enhance local economies through effective waste utilization practices.

The support from H.I.G. is expected to help Fluo expand its service offerings, strengthen its regional presence, and accelerate investments in sustainable waste infrastructure. By extending its integrated circular model, Fluo aims to expand its geographical reach across Finland, thereby enhancing its national footprint.

This acquisition is consistent with H.I.G.'s historical emphasis on capitalizing on meaningful investment opportunities within the sustainability sector. Since its inception in 1993, H.I.G. has invested in over 400 companies, emphasizing a hands-on, operationally-focused approach that drives added value across diverse industries.

As H.I.G. moves ahead with its investment strategy, it is anticipated that the partnership with Fluo will yield significant environmental benefits while also generating financial returns in a rapidly evolving market.

For more information about Fluo Group, visit fluo.fi. To learn more about H.I.G. Capital, check out their official site at hig.com.