Leading firms clean up in waste management company deal

The $671m acquisition was overwhelmingly approved by the target

Leading firms clean up in waste management company deal

Two leading law firms have cleaned up in Cleanaway Waste Management’s acquisition of Tox Free Solutions.

Gilbert + Tobin (G+T) acted for Cleanaway in its $671m acquisition of Tox Free, which was counselled by Clayton Utz. Tox Free has been a Clayton Utz client since 2011.

The scheme of arrangement was overwhelmingly approved by Tox Free shareholders earlier this month, with more than 99% in favour of the deal. The deal implied an enterprise value of $830m for Tox Free.

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G+T said that it advised its client on the acquisition and the associated $590m capital raising and debt facilities for the deal. The firm worked closely with the Cleanaway legal team, led by Dan Last, general counsel, and Ben Ferguson, senior legal counsel.

Neil Pathak, M&A partner and co-head of the G+T corporate group, said that the firm tapped its M&A, capital markets, and acquisition finance capabilities for the deal.

Pathak, who led the G+T team, was supported by M&A partners Nirangjan Nagarajah and Alex Kauye, banking and infrastructure partner Simon Lynch, litigation partner Tim O’Leary and environment special counsel Ben Fuller.

G+T lawyers Sarah McArthur, Rob Sinni, Matt Ampt, Ciara Coleman, Jamie Ammendolea, Tian Lin, and Kelly Pepper also worked on the deal.

The Clayton Utz team was led by corporate partner Mark Paganin and senior associate Stephen Neale. Key support was provided by lawyer Ben Depiazzi. Partner Cameron Belyea and lawyer Alex Snell led the court aspects of the scheme process, Clayton Utz said.

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