Cleanaway Waste Management to Acquire Contract Resources for AU$377 Million

MT Newswires Live03-19

Cleanaway Waste Management (ASX:CWY) will acquire Contract Resources Group for an enterprise value of AU$377 million, according to a Thursday filing with the Australian bourse.

Contract Resources provides catalyst handling, decontamination, chemical cleaning, and related services for the oil and gas sector.

The company will be acquired from shareholders, including funds managed by SCF Partners and Viburnum Funds, per the filing. Cleanaway plans to fund the deal through debt.

The transaction is expected to close late this year, subject to the Australian Competition and Consumer Commission's approval and other customary closing conditions.

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