Global investment firm Carlyle (NASDAQ: CG) has reached an agreement to acquire a majority stake in Waste Services Group (WSG), a leading commercial, industrial, and liquid waste management company in Australia, from Livingbridge.
Under the terms of the deal, Livingbridge is retaining a significant minority share in the business through reinvestment. The financial terms of the transaction have not been disclosed but reports suggest a valuation of around AUD1bn ($650m).
Founded in 2016, Waste Services Group serves more than 10,000 customers across Australia, employing over 600 people. The company operates in the commercial and industrial waste management segment, a key growth area in the Australian market.
Carlyle plans to work with WSG’s management to scale operations further, expand its geographic footprint, and broaden its service offerings. The investment is backed by Carlyle Asia Partners (CAP), reflecting Carlyle’s strategy of leveraging its regional expertise to grow industrial businesses.
Carlyle has a long history of investing in and growing industrial businesses globally. As of 30 September, 2024, the firm has invested approximately $32bn in equity across more than 125 deals in the industrial sector.
