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MergerMarket by Fay Sanders |
05 July 2010
Wasteman seeks growth in South Africa and sub-Saharan Africa,
sources say
Wasteman, a South Africa-based provider of waste management
services, is looking to grow in both South Africa and sub-Saharan
Africa, said company sources. |
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The company specialises the handling, control and treatment of
both hazardous and non-hazardous waste and generates around ZAR 600m
(USD 78m) in revenue.
Expansion in South Africa is likely to be focused in Gauteng, where
the company is currently under-represented. This growth will be
achieved either via opportunistic bolt-on acquisitions or organic
growth.
Wasteman is likely to acquire companies worth ZAR 50m or maybe
larger landfill sites worth between ZAR 150m and ZAR 200m, the
second source said. Deals would be financed via a combination of
debt, equity and operating cash flow.
Geographical expansion in Sub-Saharan Africa is likely to occur in
countries such as Tanzania, Angola or Mozambique. The company
already has a foothold in Mozambique following a pipe inspection
contract it recently secured in the port of Beira, a source said.
Earlier this year, the company carried out the acquisition of Spill
Response Team, an emergency hazardous cleaning business serving
Sub-Saharan Africa.
EnviroServ Waste Management and Interwaste are two competitors of
Wasteman.
Marlow acquired Wasteman from Suez Environnement earlier this year.
Nedbank provided debt financing for the deal, and Edward Nathan
Sonnenbergs acted as legal adviser to Marlow. |
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