The Australian Competition and Consumer Commission (ACCC) has given the all-clear for Cleanaway Waste Management to proceed with its $377 million acquisition of Contract Resources. The acquisition, which was initially announced in March, has now satisfied regulatory requirements. Cleanaway is a waste management company, providing a range of services including collection, recycling, and disposal. Contract Resources offers industrial services, specialising in the maintenance and cleaning of industrial facilities and equipment.
Both Cleanaway and Contract Resources operate in the industrial services sector within Australia. Their services include the upkeep and cleaning of industrial sites and equipment. The ACCC’s review focused on whether the acquisition would significantly reduce competition in the industrial and waste management sectors.
Following its investigation, the ACCC determined that the acquisition is unlikely to substantially lessen competition in either the supply of industrial services or waste management services. ACCC Commissioner Dr Philip Williams stated that the commission did not find grounds to believe the merger would negatively impact market competition.
