Cleanaway completes $110m Citywide acquisition

The news: Cleanaway Waste Management has completed its $110 million acquisition of City of Melbourne Council-owned Citywide Service Solutions’ waste and recycling business about two months after getting the greenlight from the competition regulator.

The numbers: The acquisition brings 200 additional team members, 100 additional fleet and the Dynon Road Transfer Station into Cleanaway. Dynon is Victoria’s second-largest waste transfer station, located 5km from Melbourne CBD.

Cleanaway will invest $35 million to upgrade the Dynon Road Transfer Station.

Cleanaway’s share price had lifted by 0.74% to $2.74 at 3:19pm AEST.

What they said: Cleanaway executive general manager solid waste services Tracey Boyes said the company is “delighted” to welcome the CItywide waste team to the business.

“The Citywide team has built a successful business and brings deep experience in servicing Melbourne’s inner city. Now, as part of Cleanaway, we’re excited to continue serving residents of the City of Melbourne and other major councils, as well as the many commercial and industrial customers who rely on the Dynon Road Transfer Station,” Boyes said.