By Robb M. Stewart

Blackstone Group Inc. has struck a deal to buy European environmental service company Desotec from EQT Corp. for an undisclosed amount.

The investment firm, which has $619 billion in assets under management, said the acquisition aligns with a core private equity strategy designed to hold investments in high-quality, market-leading companies for longer periods than traditional private equity.

EQT bought Desotec in 2017 and said it has since made significant investments in its sales and digital capabilities, supporting technology and research and development investments for the company's filters and furnaces.

Based in Roeselare, Belgium, Desotec is a leading European environmental services company. Founded in 1990, it is focused on mobile purification solutions mainly based on activated carbon technology, with a fleet of about 2,700 mobile filters that serves a range of industrial applications, including air emission, biogas, remediation, wastewater, and chemicals, EQT said.

EQT said the parties have agreed not to disclose the value of the transaction, which is expected to close in the second quarter of the year.

Write to Robb M. Stewart at robb.stewart@wsj.com

(END) Dow Jones Newswires

03-18-21 1124ET