Ironbridge Capital on-sells EnviroWaste assets
Ironbridge Capital on-sells certain EnviroWaste assets to Transpacific
Industries Group 13 December 2006:
Ironbridge Capital, a leading independent Australian private equity manager, last week acquired EnviroWaste Services, a leading New Zealand-based waste management firm offering waste collection, transfer station and landfill services.
Ironbridge Capital today announced that as part of this acquisition, it has entered into a Heads of Agreement for the on-sale of certain EnviroWaste assets to Transpacific Industries Group Limited. This would enable EnviroWaste’s assets in the south island of New Zealand to be owned and operated by Transpacific Industries Group, which has an operating presence in this region. The remaining assets would continue to be owned and operated by EnviroWaste.
The terms of the transaction remain commercial in confidence.
The binding Heads of Agreement is conditional on the consent of the New Zealand Overseas Investment Office and approval of the Commerce Commission. Timing is expected to be first quarter of 2007.