Private equity giant Carlyle Group is pursuing at least AUD500m ($324m) in debt financing to support its acquisition of Waste Services Group, an Australian waste management firm, from Livingbridge EP, according to a report by Bloomberg.
The report cites unnamed sources familiar with the matter as revealing that Carlyle is weighing options between securing bank loans or a private credit facility to fund the transaction. The firm is in exclusive negotiations with Livingbridge for a deal valued at approximately AUD1bn, as reported by the Australian Financial Review.
A Carlyle spokesperson declined to comment on the matter.
Australia has seen an uptick in leveraged buyout activity as private equity firms deploy capital in acquisitions and some investors seek to exit their positions. This trend is creating opportunities for financiers eager to participate in such transactions.
Recent deals in the region include Oaktree Capital Management’s AUD345m private credit loan for its stake acquisition in AZ Next Generation Advisory, and Affinity Equity Partners’ AUD515m leveraged financing for its purchase of Lumus Imaging from Healius.
Waste Services Group provides waste collection and recycling services across the states of Victoria and New South Wales focusing on sustainable waste management solutions.
