Worth Corporation has been acquired by Tox Free Solutions Ltd

Worth Corporation has been acquired by Tox Free Solutions Ltd

The Private shareholders of Worth Corporation have sold the company to Tox Free Solutions Ltd (Toxfree) for US$53 million.

Established and listed on the Australian Securities Exchange (ASX) in 2000, Toxfree is an integrated waste management group, capitalised at US$327 million. The group has experienced substantial growth achieved through acquisitions, new green-field developments and the organic growth of existing businesses.

Sydney-based Worth Corporation, the parent company of Worth Recycling Pty Ltd, is a market leader in the collection, transportation, processing and recycling of liquid, sludge and solid waste, as well as a proven performer in confined space and industrial cleaning services. The company has developed and acquired a significant base of oily wastewater treatment technology from extensive in-house research and engineering activities.

In 2013, Oaklins' team in Australia responded to a request from the business owners about sale prospects. Corporate advisory assistance was provided and, by 2015, the business had restructured enough to be saleable. During that period, the main industry competitor had confirmed an interest and in late 2015 a negotiated sale price was agreed and a divestment time frame established. Our team assisted with the due diligence, financial and corporate advisory matters, and negotiations over an extremely compressed sale period of three months, delivering a sale outcome ahead of the vendors' expectations.

Tombstone image for Worth Corporation  has been acquired by Tox Free Solutions Ltd

CONTACTS CLÉS POUR TRANSACTIONS

Peter Fraser

Australia

Directeur

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Stephen Chapman

Australia

Chef de la direction

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