CPE Capital advised on acquisition of Banksmeadow processing facility
CPE Capital has made its first investment in the recycling and waste management industry, acquiring an 8,200-square metre site near Port Botany for approximately $50 million.
Firm: Gilbert + Tobin (CPE Capital).
Deal: G+T has advised CPE Capital on its acquisition of the Banksmeadow processing facility, an 8,200-square metre site near Port Botany, from ASX-listed Bingo Industries Limited for approximately $50 million.
Area: Corporate advisory.
Value: Approximately $50 million.
Key players: The G+T team was led by partner Alastair Corrigall, who was supported by partners Tim Gole, Ben Fuller and lawyer Jill Cooper.
Deal significance: Reflecting on the transaction, Mr Corrigall said: “We were delighted to assist our long-term client CPE Capital in its first investment in the recycling and waste management industry”.
“The divestment of the Banksmeadow facility was required by the Australian Competition and Consumer Commission in connection with Bingo’s $578 million acquisition of the Dial A Dump business last year,” G+T said in a statement.
“CPE Capital succeeded in negotiating the acquisition in a competitive process, including navigating the regulatory requirements imposed by the ACCC.”