March
Cleanaway’s ‘M&A burger with the lot’ reveals ugly fracture in markets
The rubbish collector’s $377 million acquisition of Contract Resources got a bit of a hostile reception. Why? Buying from private equity.
February
Bingo lenders shop debt after S&P downgrade
Sharp-nosed credit funds in Sydney have fielded approaches from New York’s Cantor Fitzgerald, which is said to be shopping a $100 million-plus parcel of Bingo debt.
Pub chain got $9.7m taxpayer funds to fully train just 96 staff
In new evidence of widespread wastage in a Coalition training scheme, a pub group backed by Coles got $100,000 per worker to learn basic hospitality skills.
Should you worry about microplastics?
There are some simple ways to reduce your exposure as we wait to see if science can quantify the harm these tiny particles cause to humans.
January
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
September 2024
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.
August 2024
‘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.
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.
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.
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.