Australia’s leading independent law firm, Corrs Chambers Westgarth, has advised leading Sydney-based private equity firm Mercury Capital on its investment into Re.Group Holdings Pty Ltd (Re.Group) and subsequently advised Re.Group on its acquisition of Polytrade Operations Pty Limited (PT Operations).
Mercury Capital’s investment in Re.Group was made alongside Ironbridge Capital to part fund the acquisition by Re.Group of PT Operations. Mercury Capital acquired, through subscription and share transfers from existing Re.Group shareholders, approximately 35% of Re.Group with Ironbridge Capital holding approximately 17% of the shares in the company.
Re.Group operates material recovery facilities (MRFs) for mixed recyclables in the ACT, Queensland and South Australia. It also processes food organics and garden organics in NSW, and operates Australia’s biggest network of 10-cent container refund depots through Return-It, with refund points across the ACT, Queensland, Western Australia and NSW.
Re.Group’s acquisition of PT Operations creates a leading provider in the recycling and reprocessing market. Re.Group will now provide kerbside recycling services for more than 4 million Australians across more than 35 council areas, with 13 operating facilities and a number of additional sites coming online in the next year.
Both deals were led by partner Ricky Casali and supported by partners Christine Covington, David Ellenby, John Mosley, James North, Stephen Price and Glen Sauer, and other experts from across the Corporate, Banking and Finance, Employment, Environment, Intellectual Property, TMT and Property practice groups.
Commenting on the matter, partner Ricky Casali said: “We have previously advised Mercury Capital in relation to a number of its investments including Architectus, ResourceCo, MessageMedia, FiftyFive5 and Bauer Media among others, and this latest investment solidifies our standing as trusted advisers to Mercury Capital.”