Blue Phoenix Group acquires Meldgaard's IBA business

Blue Phoenix Group, the leading waste recycling infrastructure platform, has entered into a binding agreement to acquire Meldgaard Recycling, a Denmark-based company specializing in incinerator bottom ash (IBA) treatment. 

With over 25 years of experience in sorting and recovering metals from IBA produced by waste-to-energy plants, the business specializes in extracting various metals and repurposing IBA aggregate. In Denmark, Meldgaard employs approximately 75 people in ash processing and currently handles more than half of the country’s total IBA from incineration plants. 

This acquisition represents a major step in expanding Blue Phoenix Group’s presence in Denmark to now include IBA processing, which is the BPG’s core business globally. The acquisition follows last year’s acquisition of RGS Nordic, Denmark’s leading soil and construction waste treatment company. 

Paul Knight, CEO of BPG, added: 

"This acquisition is a major milestone for BPG. It strengthens our presence in Denmark through RGS Nordic and reinforces our position across the Nordic region. Meldgaard brings more than 25 years of expertise in IBA processing, particularly with advanced mobile units, where we see great potential. We’re excited to support the reuse of IBA aggregate in Denmark." 

Vincent Menager, Investment Director at InfraVia Capital Partners, said: 

"InfraVia is proud to support BPG in the acquisition of Meldgaard’s IBA business, expanding operations into Denmark. This strategic move strengthens BPG’s leadership in sustainable IBA treatment and aligns with our commitment to scaling high-impact solutions in the circular economy." 

Henry Forder, Executive Director at Daiwa International Capital Partners, said: 

“The successful acquisition of Meldgaard is another fantastic achievement for BPG and continues our growth strategy in Denmark, following the acquisition of RGS Nordic last year.” 

The Meldgaard Family, said: 

“Meldgaard Recycling has been an important part of Meldgaard for more than 25 years, making it particularly difficult to say goodbye to our dedicated employees. We are pleased with the sale, as we believe it will enable the expertise we have built in Denmark to develop into something even greater” 

Anders Hedegaard, founder and co-owner of Meldgaard Recycling, added: 

“I am proud to be part of this acquisition. I look forward to continuing the journey ahead, as it brings many exciting opportunities. I am eager to join forces, innovate, and achieve new levels of growth in our continuously evolving international markets.” 

The transaction is subject to final regulatory approval. 

Nordea Corporate Finance acted as exclusive financial advisor, and Kromann Reumert as exclusive legal advisor to BPG.