EQT turns waste into value, agreeing to acquire Australia’s Cleanaway in a $6.6B deal to back its next phase of growth in waste management and resource recovery.
EQT has decided one company’s trash is another investor’s treasure, agreeing to acquire Australian waste management giant Cleanaway in a deal valuing the business at USD6.6 billion, including debt. Under the terms, shareholders will receive A$3.095 per share in cash, representing a 32.1% premium to Cleanaway’s closing price before the deal first emerged. The company operates a nationwide network spanning waste collection, recycling, treatment, resource recovery and disposal, serving households, businesses and councils. EQT Infrastructure VI plans to back Cleanaway’s next phase of growth, drawing on its existing investments in waste and environmental services across global markets. “Cleanaway has built an exceptional national platform providing services to Australians every day. We see significant opportunity to build on these strong foundations by investing in the infrastructure needed to meet Australia’s evolving waste management and resource recovery needs,” said Sam Franklin, Managing Director, at EQT Infrastructure. Subject to shareholder, court and regulatory approvals, the deal is expected to complete by the end of March 2027 giving EQT a sizeable new asset. You might say it’s a case of waste not want a lot.
James is an experienced financial journalist and editor with over 20 years experience covering private markets and alternatives. He is host of the Clockwork CIO podcast.
