Carlyle to Acquire Majority Stake in WSG
Deal News | Dec 09, 2024 | The Carlyle Group
Global investment firm Carlyle announced an agreement to acquire a majority stake in Waste Services Group (WSG), an Australian-based waste management company, from Livingbridge. Carlyle aims to scale WSG's operations and expand its geographical presence within Australia while Livingbridge retains a significant minority stake. WSG, established in 2016, serves over 10,000 clients in commercial and industrial waste management. Carlyle will leverage its experience in growing industrial enterprises to support WSG's trajectory. This move exemplifies Carlyle's strategy of investing in industrial sectors, with over US$32 billion invested worldwide. Both Carlyle and Livingbridge express commitment to driving WSG's growth in the region.
Sectors
- Waste Management
- Private Equity
Geography
- Australia – The geographical focus of Waste Services Group's operations and the primary market for Carlyle's investment.
Industry
- Waste Management – The primary focus of Waste Services Group's operations, dealing with the management of commercial and industrial waste.
- Private Equity – Carlyle and Livingbridge are private equity firms engaging in investment activities in the waste management sector.
Financials
- US$32 billion – The total amount Carlyle has invested in over 125 industrial sector deals globally.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| The Carlyle Group | Bidding Company/Buyer | Company | A global investment firm acquiring a majority stake in Waste Services Group. |
| Waste Services Group (WSG) | Target Company | Company | A commercial and industrial waste management business in Australia being acquired by Carlyle. |
| Livingbridge | Selling Company/Vendor | Company | A mid-market private equity firm selling a majority stake in Waste Services Group to Carlyle. |
| Geoff Hutchinson | Managing Director and Head of Australia and New Zealand, Carlyle | Person | Expressed optimism about WSG's growth and expansion under Carlyle's ownership. |
| Oliver Mauldridge | Representative from Livingbridge | Person | Communicated Livingbridge’s continued commitment to WSG's success post-transaction. |