Advent Sells SAG

Private equity firm Advent International has announced the sale of energy service provider SAG GmbH to Sweden's EQT Partners.

The price of the buyout has not been disclosed.

Advent acquired SAG 18 months ago from German utility RWE AG and was reported to have paid about €700m for a portfolio made up of RWE Solution subsidiaries Nukem, RWE Industrie-Loesungen, RWE Space Solar Power and Lahmeyer International.

Based near Langen, Germany, SAG employs 5,900 staff and generates about €700m a year.

By staff writer