Suez expands in Australia with Perthwaste acquisition
French waste management company Suez has agreed to acquire Perthwaste, one of the leading waste management service providers in Western Australia, for $87 million.
The acquisition further accelerates Suez’s development in Australia. In 2015, Suez acquired Sembcorp’s minority stake in its recycling and recovery activities and completed the acquisition of Pro Skips in Queensland. It also follows numerous commercial successes with local authorities and industrials clients.
Founded in 2001, Perthwaste is well established in the Perth metropolitan area and in south-west Western Australia. The company has a strong industrial customer base and services a population of 760,000 people across numerous contracts with local authorities.
Perthwaste boasts extensive infrastructure assets including two materials recycling facilities, an organics composting facility, two waste transfer stations, three depots and a landfill. The company has a fleet of 68 trucks and is forecast to generate revenues above $50 million in 2016.
This acquisition will form a close fit with the waste collection, recycling and reuse solutions that Suez delivers to local authorities and industry in Western Australia.
Marie-Ange Debon, Senior Executive Vice-President in charge of the international division of Suez, says the acquisition will strengthen Suez’s position in this promising market.
“The activities of Perthwaste and Suez form a very close fit. The united strengths of the combined waste management facilities, fleet and experienced people will speed up our growth and business development in this high-potential market,” Debon says.
This acquisition is subject to the approval of the Australian Foreign Investment Review Board and the Australian Competition and Consumer Commission.