15 Jan 2013

EnviroWaste sold to Hong Kong company

6:23 pm on 15 January 2013

Australian private equity firm Ironbridge has agreed to sell its New Zealand waste management company for $501 million to the Hong Kong-listed Cheung Kong Infrastructure.

EnviroWaste chairman Kim Ellis says the company has gone as far as it can under a private equity fund.

"There's quite an appetite to play in a bigger market if we can get the opportunity, which we didn't have under Ironbridge.

"Their mandate was very much buy a New Zealand business, create some value, then sell out."