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G+T advises Cleanaway on $671 million acquisition of ToxFree Solutions
Australia’s largest waste management company Cleanaway has completed its acquisition of ToxFree solutions, cementing its position as a leader across various waste segments and opening up new opportunities in the growing medical waste sector.
G+T advised Cleanaway on the acquisition and associated $590 million equity capital raising and debt facilities. The transaction affirms Cleanaway’s leadership in each of its operating segments and also provides a leading position in the attractive medical waste sector.
G+T worked closely with the Cleanaway legal team, led by General Counsel, Dan Last, and Senior Legal Counsel, Ben Ferguson, as well as Cleanaway’s financial advisers, Macquarie Capital.
M&A partner and co-head of the Corporate group, Neil Pathak, who led the G+T team, said it was an exciting opportunity to work on one of the top 10 largest transactions (by value) announced on the ASX in 2017, with the equity raising funding the majority of the transaction.
“We are very proud to have helped Cleanaway complete this strategically important transaction and the opportunities it will help deliver for their business.
“It was a terrific transaction to work on. It allowed us to collaborate with a first-rate legal team at Cleanaway and take advantage of our market-leading M&A, capital markets and acquisition finance capability, working seamlessly to deliver an integrated and successful outcome. We look forward to continuing to support Cleanaway into the future.”
G+T deployed a multi-practice team of experts including 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 and lawyers Sarah McArthur, Rob Sinni, Matt Ampt, Ciara Coleman, Jamie Ammendolea, Tian Lin and Kelly Pepper.
Gilbert + Tobin’s market-leading M&A team has advised on many of Australia’s largest and most innovative recent M&A transactions, including Harbour Energy’s bid for Santos, IOOF’s acquisition of ANZ’s One Path and Wealth Management Division, Ansell’s sale of its Sexual Wellness business, Carlton-United Breweries’ acquisition of Four Pines and Pirate Life Brewing, CHAMP Private Equity’s sale of Accolade Wines, SAI Global on its acquisition by scheme of arrangement by Baring Asia, Qube on the acquisition of Asciano and Spotless on the defence of Downer EDI’s takeover bid.