Cleanaway Waste Management is considering a binding offer for skip bin and waste management group Bingo Industries, according to a report in The Australian Financial Review.
Bingo Industries – originally pitched as ‘a fast-growing commercial and liquid waste business, servicing the building and construction industry’ – was put up for sale back in August this year.
The Australian Financial Review reports that Cleanaway’s last major acquisition was in 2007 when it purchased the Cleanaway brand (under its former Transpacific Industries moniker) from KKR for $1.25 billion.
Other interested parties in the sale are understood to include CKI Infrastructure, Beijing Capital Group and Brookfield.
The Australian Financial Review noted that Cleanaway is understood to be self-advised although it has used Deutsche Bank in the past, with Macquarie Capital running the auction. There is less than two weeks until final bids must be submitted.