The deal is the company’s first investment in the waste-management industry
CPE Capital has made its first investment in the recycling and waste-management sector with help from Gilbert + Tobin (G+T).
The Banksmeadow processing facility was acquired earlier this month by funds advised by CPE Capital, formerly known as CHAMP Private Equity. The facility is an 8200sqm site near Port Botany.
CPE funds bought the waste-management facility from Bingo Industries for about $50m. The Australian Competition and Consumer Commission required the divestment of the facility to approve Bingo’s $578m acquisition of Dial-A-Dump.
G+T said that the divestment of the Banksmeadow facility follows a competitive sale process, which involved navigation of the regulatory requirements set by the ACCC.
The G+T team was headed by corporate advisory partner Alastair Corrigall. Corrigall was assisted by technology and digital partner Tim Gole, real estate and projects partner Ben Fuller and corporate advisory lawyer Jill Cooper.