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NSW-based recycling and waste management business Dial-A-Dump Industries has been sold to ASX-listed company Bingo Industries.
Firm: Arnold Bloch Leibler (Dial-A-Dump); Herbert Smith Freehills (Bingo Industries)
Area: Corporate, M&A
Value: $577.5 million
Key players: The ABL team was led by partner Jeremy Leibler, who was supported by senior associate Scott Phillips and lawyer Vidushee Deora, who advised on all aspects of the sale.
Firm partner Tyrone McCarthy and senior associate Gia Cari also advised on the “intricate property aspects” of the transaction, ABL said.
Deal significance: Commenting on the sale, Mr Malouf said he has a lot of respect for Bingo and how they have built their business.
“Bringing together these two Australian companies makes complete sense. I fully support Daniel Tartak the CEO and Bingo’s growth strategy, particularly the vision of a master site as Eastern Creek that can process all waste types,” he said.
“With the infrastructure program in NSW and the new waste levy in Queensland, the market is only going to grow and I’m excited to be on board for the journey.”
Mr Leibler added: “We are delighted to have guided Ian and Dial-A-Dump on what is a very complex transaction that will deliver fantastic value to both the shareholders of the Dial-A-Dump group and also to the purchaser Bingo Industries.”
“Transactions like this don’t happen without an enormous amount of hard work by a large team of dedicated and talented people and we are proud to have played our part,” he said.
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Jerome Doraisamy is the managing editor of Lawyers Weekly and HR Leader. He is also the author of The Wellness Doctrines book series, an admitted solicitor in New South Wales, and a board director of the Minds Count Foundation.
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Jerome Doraisamy
