Published 10 December 2006
Australian private equity manager Ironbridge Capital has bought EnviroWaste Services Ltd from Fulton Hogan Ltd. It’s the second investment in Ironbridge Fund II, closed recently with $A1.05 billion of commitments.
EnviroWaste offers waste collection, transfer station & landfill services in all major New Zealand cities, either on a stand-alone basis or through joint ventures.
Ironbridge Capital’s Kerry McIntosh said: “EnviroWaste has a strong market position in the New Zealand waste collection & disposal sectors. We were attracted to the company’s portfolio of newly developed regional landfill assets & strong cashflow profile. We also believe that EnviroWaste has excellent growth opportunities, especially in the collections businesses and in working in partnership with local councils to develop advanced waste solutions.”
Ironbridge focuses on investments in medium-sized management buyout & expansion capital transactions in Australia & New Zealand. Fulton Hogan is majority-owned by Shell Oil and the rest is held by Fulton family members and family trusts.
Attribution: Company release, story written by Bob Dey for this website.