HIG Capital Backs Circular Economy with Finnish Waste Management Bet

H.I.G. Capital has made a push into sustainability-focused infrastructure with its acquisition of Fluo Group, a Finnish waste management platform that turns collected materials into recycled plastics, pipes, and lubricants.

The deal gives H.I.G. a foothold in the Nordic region’s circular economy, where EU regulations are driving municipalities and industries toward higher recycling rates. Fluo serves over 3,000 businesses and 35,000 households through public-private partnerships, providing both defensive contracted revenue and growth exposure to rising demand for recycled products.

“This investment marks a significant milestone in Fluo’s journey to develop circular economy solutions,” said Petri Aaltonen, CEO of Fluo.

The acquisition follows H.I.G.’s profitable exit from EYSA Group, which transformed a Spanish parking operator into a global smart mobility platform. Together, the moves illustrate the firm’s approach of combining operational improvements with long-term sector trends.

With over $70 billion under management, H.I.G. is also expanding its credit capabilities, recently closing a record WhiteHorse Middle Market Lending Fund. The firm’s push into environmental infrastructure reflects a conviction that sustainability-linked investments will remain a durable source of growth.