Suez has entered into an agreement to acquire Perthwaste, a waste management service provider in Western Australia for $87 million.
According to Suez, the acquisition will strengthen Suez’s position in WA. “The activities of Perthwaste and Suez form a very close fit,” commented Marie-Ange Debon, Senior Executive Vice-President in charge of the International Division of Suez.
“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.”
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 $AUD 50 million in 2016.
The acquisition is subject to the approval of the Australian Foreign Investment Review Board and the Australian Competition and Consumer Commission.