Blue Phoenix is pleased to announce the successful €199 million refinancing of its original REKO debt, capex and RCF facilities into its existing platform financing.
9 April 2026
Blue Phoenix Group (“Blue Phoenix”), a leading player in waste recycling, circular economy infrastructure provider and based in the Netherlands, is pleased to announce the successful €199 million refinancing of its original REKO debt, capex and RCF facilities into its existing platform financing. The business formerly known as “REKO”, specialising in thermal treatment of tar-containing asphalt, is currently named Blue Phoenix Thermal Treatment.
The improved competitive terms reflect lender confidence in Blue Phoenix’s robust and critical business model, a growing demand for infrastructure solutions for the circular economy and the energy transition, as well as the company’s solid track record in terms of performance and integration.
Lenders in this new facility are Barclays, Crédit Agricole CIB, DNB and Rabobank. Legal advice was provided by Simpson Thacher & Bartlett.
This financing marks another significant milestone following InfraVia’s majority stake investment in 2022, three subsequent strategic build-up acquisitions in 2024 and 2025 (RGS Nordic in Denmark, REKO in the Netherlands, the carve-out of Meldgaard in Denmark) and the landmark refinancing carried out in May 2025. The ongoing strong support from high-profile infrastructure lenders underscores both the relevance of the circular economy infrastructure thesis and Blue Phoenix’s position as a resilient and high-quality infrastructure.
CFO of Blue Phoenix, Arjen de Jong says: “This refinancing underscores the strong continued confidence our banking partners have in Blue Phoenix and our activities across markets and waste streams. It provides us with the flexibility to continue executing our strategic ambitions. With this new facility, we strengthen our financial position, reduce our cost of capita and continue to create sustainable value for all our stakeholders. In an increasingly dynamic and changing world, financial resilience enables us to continue to support the circular economy in Europe and beyond with reborn materials”.
Blue Phoenix
Simon Leed Krøs | Blue Phoenix | simon.kroes@blue-phoenix.com | M: +45 3051 6140
InfraVia
Antoine Denry | Taddeo | antoine.denry@taddeo.fr | +33 (0) 6 18 07 83 27
Daiwa International Capital Partners
Gregor Jackson | CEO, Daiwa ICP | gregor.jackson@daiwa-icp.com | +44 (0) 20 4551 2778
Blue Phoenix is a global resource company. Every day, we recover value from materials others discard. From incinerator bottom ash and construction waste to contaminated soil and tar-containing asphalt. We specialise in transforming complex materials into renewed resources for construction and infrastructure.
Operating on four continents, Blue Phoenix teams are on a daily mission to shift the world’s mindset from seeing waste as a problem to recognising it as potential. Through smart sorting, recycling and recovery, we give materials new life - with safety as our core value and guiding principle. We partner with clients, plant operators, contractors, regulators and the wider society to create a truly circular economy. Working together towards our mission of nothing wasted, every resource reborn.
Blue Phoenix is backed by InfraVia Capital Partners and Daiwa International Capital Partners.
To learn more about Blue Phoenix, visit www.blue-phoenix.com.
Founded in 2008, InfraVia is a leading independent private equity firm, specialized in infrastructure, real estate, critical metals and technology investments. InfraVia supports entrepreneurs and companies in their growth and helps them to expand their businesses and transform them into top-tier platforms. InfraVia manages EUR 20 billion of capital and invested in 50+ companies across Europe.
To learn more about InfraVia, visit www.infraviacapital.com.
Daiwa International Capital Partners was established in 2020 by Gregor Jackson and Daiwa International Investments GK as an independent manager of high quality infrastructure assets.
To learn more about Daiwa International Capital Partners, visit www.daiwa-icp.com.