Allens has advised private equity firm Livingbridge on its agreement to sell Waste Services Group (WSG) to funds managed or advised by the Carlyle Group, following a competitive sale process.
The sale represents Livingbridge's largest ever exit in the Australian market.
Allens advised on all aspects of the sale, having also advised Livingbridge throughout the life cycle of its investment, including on its acquisition of WSG in 2021 and subsequent bolt-on acquisitions.
'This deal reflects the ongoing popularity of waste management providers among broader private capital investors. Led by Matt Tamplin, WSG has a first-rate management team and an excellent growth record which has made this sale process particularly competitive among private equity sponsors,' said co-lead Partners Mark Malinas and Emin Altiparmak.
'Reflecting its confidence in the WSG business going forward, Livingbridge has also decided to reinvest a portion of its interest. We are delighted to have advised longstanding client Livingbridge on this exciting transaction.'
