Trailer Magazine

Bingo Industries’ $38 million Victorian expansion

  • Posted on Thursday 31st, August 2017.

Waste management and recycling company, Bingo Industries, has expanded into the Victorian market, acquiring three Melbourne businesses.

News Corp reported the $38 million acquisition included Konstruct Recycling, Resource Recovery Victoria and AAZ Recycling.

The company has secured a fleet of 40 vehicles and two recycling facilities. Also, Bingo has said it will create an additional 100 jobs.

Bingo Industries CEO, Daniel Tartak, has said the Victorian end market is attractive, with strong growth fundamentals. “Government legislation is supportive of our business model that diverts waste from landfill for recycling. With the scalability of our platform, operating systems and back office we are well positioned to grow into Victoria,” he said.

According to a statement, Bingo said that Victoria was the second largest waste generating state in commercial and industrial (C&I), and building and demolition (B&D) waste after NSW. “With the accomplishments and developments of Bingo Industries across the C&I and B&D industries across New South Wales, this comes as no hurdle for the company. Reaffirming FY18 forecasts, the Victorian expansion is a giant leap in Bingo’s national plans and another milestone for the group.”

Bingo has quickly expanded from its humble beginnings as a four-truck skip company. The Tartak family bought the company in 2005 for $1 million, and it now has a market cap of $688 million, with 10 recycling centres in NSW.

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