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Acquisition Announcement:
WasteCo, one of the South Island’s leading waste solutions providers, is embarking on an exciting new chapter by expanding its operations into Central Otago and Southland. The company has recently announced the acquisition of three businesses in these regions, namely Cleanways (2003) Ltd, Enviro South (2015) Ltd, and Wastech Services (Central Otago) Ltd.
This strategic move aligns with WasteCo’s growth strategy to extend its services across the South Island, showcasing their commitment to providing comprehensive waste solutions.
Expanding Horizons:
“WasteCo’s journey of growth and expansion continues with our recent acquisition of Cleanways, Enviro South, and Wastech Services,” states WasteCo Chair, Shane Edmond. This expansion complements their existing services offered in Nelson, Christchurch, Ashburton, Timaru, Oamaru, Dunedin, and Balclutha.
As WasteCo continues to execute its growth strategy, this latest acquisition showcases their dedication to expanding their reach and services across the South Island. WasteCo is transforming their growth strategy into a tangible reality.
Terms of Acquisition:
The acquisition is expected to be finalised by the end of this month, with a purchase price of $7.35 million. “We are especially pleased to have the support of Cleanways director Lloyd Philipps who will stay on with us as an advisor for the next two years,” expresses Shane Edmond.
The purchase price will be comprised of $2.205 million in WasteCo shares and a cash settlement of $5.145 million. Shane further highlights the confidence shown by Cleanways shareholders, stating, “We’re also very pleased at the confidence shown by Cleanways shareholders wanting to be part of WasteCo’s future by taking a substantial part of the acquisition price in WasteCo shares.”
Specialised Services:
Cleanways and Enviro South, based in Invercargill, specialise in managing bulk liquid waste and provide a range of services throughout Southland. Wastech Services, located in Cromwell, specialises in the removal of both bulk liquid and solid waste in Central Otago.
“These three businesses each have a strong customer base and offer a range of commercial, local body, and private services. They’ll continue to operate from their current premises when they become part of WasteCo,” explains Shane Edmond, emphasising the seamless integration of the acquired businesses into WasteCo’s operations.
Commitment to Sustainable Solutions and Community:
“Having successfully expanded our footprint to cover the South Island from top to bottom, we’re now focused on using this footprint as a launchpad to expand the range of services we offer,” says Shane Edmond. WasteCo’s commitment to sustainability is evident in their provision of comprehensive waste solutions.
Since its establishment in 2013, WasteCo has consistently grown and expanded throughout the South Island. The company has added new clients and introduced additional services, such as medical and quarantine waste treatment and disposal. Shane Edmond expresses his excitement for the future, stating, “This is an exciting journey for WasteCo, and we are really looking forward to being able to offer our customers and community so much more.”
About WasteCo:
As a leading waste management company in the South Island, WasteCo is dedicated to processing and diverting thousands of tonnes of liquid and solid waste from landfills every week.
Their comprehensive solutions cater to household, commercial, industrial, and local authority customers.
WasteCo is proud to be New Zealand’s only diamond-certified Toitū Enviromark waste solutions provider, consistently delivering sustainable outcomes and pioneering environmental stewardship.
