CPE Capital (formerly known as CHAMP) has made its first investment in the recycling and waste management industry.
Funds advised by CPE Capital today acquired the Banksmeadow processing facility, an 8200 square metre site near Port Botany, from ASX-listed Bingo Industries Limited for approximately $50 million. 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. CPE Capital succeeded in negotiating the acquisition in a competitive process, including navigating the regulatory requirements imposed by the ACCC.
Alastair Corrigall, the Corporate Advisory Partner who led the transaction said “We were delighted to assist our long-term client CPE Capital on its first investment in the recycling and waste management industry”. Alastair was supported by T+D partner Tim Gole, REP partner Ben Fuller and CA lawyer Jill Cooper.
Gilbert + Tobin’s market-leading Corporate Advisory team has advised on many of Australia’s largest and most innovative transactions, including advising BGH Capital on its $2.3 billion acquisition of Navitas, TPG on its $1 billion acquisition of Greencross, Anheuser-Busch InBev on $16 billion sale of Carlton & United Breweries to Asahi Group, DuluxGroup on its $4.2 billion acquisition by Nippon Paint, and Viva Energy on its $2.65 billion IPO. Gilbert + Tobin won Private Equity Legal Adviser of the Year at the Mergermarket Australia M&A Awards held in Sydney.