This Month
Exxon accuses Forrest-linked charity of helping billionaire’s interests
The oil and gas giant has described philanthropic organisations connected to the businessman as “corrupting influence of foreign money”. They deny those claims.
- Tom Rabe
December 2024
Rich Lister charged in park asbestos contamination
Arnold Vitocco’s family company owns chocolate chain Max Brenner and is credited with building Liverpool in Sydney’s west. He is now charged with environmental crimes.
- Rohan Sullivan
Investors on alert as Bingo debt trades around 80¢
There’s no action yet, but special situation funds the world over – which specialise in trading discounted debt – are certainly having a look.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Bigwig lenders line up to bankroll Carlyle’s big waste services buy
Confidential documents seen by Street Talk show the Nasdaq-listed asset manager has secured a covenant-lite unitranche loan.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Carlyle in exclusive talks to buy Livingbridge’s Waste Services Group
Carlyle is led in Australia by managing director Geoff Hutchinson. The dealmaker has had the bit between his teeth to land his maiden deal at the helm.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Meet the Hong Kong buyout giant causing issues for PEP and Carlyle
Street Talk understands a third bidder has been hard at work behind the scenes and tipped in a binding offer on Friday.
- Sarah Thompson, Kanika Sood and Emma Rapaport
November 2024
Macquarie offers $1.4b in cash in fresh bid for Renewi
The asset manager said it has reached a preliminary agreement with the London-listed waste management company on a possible cash offer.
- Aaron Kirchfeld and Vinicy Chan
Bingo investors are still trying to shift debt at a discount
This despite the Macquarie-backed waste management company securing a $100 million debt in September lifeline to meet its payments.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Waste Services Group narrows to two-horse race; final bids loom
US private capital juggernaut The Carlyle Group and Pacific Equity Partners’ buyout team are both through to the final binding bidding stage.
- Sarah Thompson, Kanika Sood and Emma Rapaport
October 2024
Private equity storms Waste Services Group; trifecta of debt packages
Bidders have been asked to lob round 2A bids – essentially, a reconfirmation of their non-binding indicative offers – by October 29.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Buyout firms lock horns for $1b-plus Waste Services Group; NBIOs in
The bidder interest shows waste management remains an attractive sector for private equity – despite Macquarie’s disastrous $2.3 billion take-private of Bingo.
- Sarah Thompson, Kanika Sood and Emma Rapaport
September 2024
- Exclusive
- Executive shake-up
Macquarie’s Bingo secures $100m lifeline but loses CEO and CFO
The waste management group has been struggling under a heavy debt burden after being downgraded by S&P Global this year. In all, three executives will leave.
- Ayesha de Kretser
August 2024
- Exclusive
- Environmental protection
‘Circular economy’ to be examined by Productivity Commission
The government has asked its economic adviser to explore ways to cut waste going to landfill and encourage the more efficient use of raw materials.
- James Eyers
Singapore’s Keppel to battle Affinity at $1b-plus Waste Services Group
The Singaporean will lock horns with Pan-Asian player Affinity Equity Partners, which has mandated Barrenjoey to advise on its bid as revealed by this column in July.
- Sarah Thompson, Kanika Sood and Emma Rapaport
The country’s biggest garbo goes hunting for big ticket M&A in energy
Sources said Veolia has been on the prowl for M&A opportunities within the energy sector.
- Sarah Thompson, Kanika Sood and Emma Rapaport
PE-backed Minemet buys Victorian scrap dealer, hunts for NSW bolt-ons
The business, which is among the state’s leading scrap metal dealers, is understood to have rung in $21 million revenue for the 2024 financial year.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Water quality monitoring start-up Eco Detection lands UK-listed backer
Street Talk can reveal Eco Detection has added London-listed mining services player Capital Limited to its list of backers.
- Sarah Thompson, Kanika Sood and Emma Rapaport
July 2024
Bin way too long! Affinity Equity hires bank for Waste Services sale
You’d be forgiven for thinking Affinity has a leg-up in the UBS-run auction, given its ANZ boss’s history with the asset.
- Sarah Thompson, Kanika Sood and Emma Rapaport
Done deal: London buyout firm Livingbridge acquires Colinton’s Dimeo
Under the deal, Colinton will retain a stake, while Livingbridge will join the register alongside founders Charles Bates and Peter Easter.
- Sarah Thompson, Kanika Sood and Emma Rapaport
- Retail Winner
- Sustainability Leaders
Customers love this cool solution to getting rid of old fridges
Winning Group brand Appliances Online has stopped 80,000 tonnes of electronics and appliances from being dumped in landfill, earning the company top spot in the Retail category.
- Gus McCubbing