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EQT picks up Swedish technology business from Altor

The transaction comes amid an expected rise in the number of secondary buyouts

Buyout firm EQT Partners has agreed to buy Piab, a Sweden-based industrial technology company, from fellow private equity firm Altor amid an expected increase in deals in which private equity firms are selling assets to each other.

The enterprise value of the deal was not disclosed, but a person familiar with the matter said the sale will yield the firm an internal rate of return of more than 30%.

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