The owners of waste processor Global Renewables which include private equity firm Ironbridge Capital are reportedly preparing to sell the business amid rising demand for infrastructure assets in Australia.
Sydney-based Ironbridge and Global’s management have hired Fort Street Advisers to review the business and advise them on options including a sale, said the Wall Street Journal, citing a person familiar with the matter.
Global, which processes 220,000 tonnes of household waste annually, has annual EBITDA of $20m, said the source.
The company diverts 60 per cent of the waste from landfills, converting most of it into compost.
Ironbridge said that the business is a key social infrastructure assets and is “positioned directly in line with government policy on waste reduction and re-use.”
Back in January Ironbridge sold New Zealand-based waste company EnviroWaste to CKI for NZ$501m ($420m).
Last year it was reported that Ironbridge planned to launch a A$1bn third fund.
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