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Dial-A-Dump agrees to sell for $577.5m to ASX-listed Bingo Industries

Corporate and M&A, Property & Development
20180822 Workers sorting waste
Arnold Bloch Leibler has advised privately owned group Dial-A-Dump Industries in relation to the sale of the group to ASX listed Bingo Industries for $577.5m.

Dial-A-Dump  founded by Ian Malouf – runs a fully integrated recycling and waste management business in NSW providing waste removal, waste management and waste transfer services to small and large scale building sectors in the commercial and domestic market. It has one of the largest landfill and waste recycling plants in the southern hemisphere at Eastern Creek, in Sydney’s west. 

ASX-listed Bingo Industries will purchase Dial-A-Dump as part of their strategy to grow the company’s footprint across NSW and Victoria. Bingo will pay a mix of cash and scrip with Ian Malouf taking up to $200m of stock in Bingo. Bingo will fund the cash component of the acquisition via a 1 for 2.48 entitlement offer.

Corporate and M&A Partner Jeremy Leibler, Senior Associate Scott Phillips and Lawyer Vidushee Deora advised in relation to all aspects of the sale. Property & Development Partner Tyrone McCarthy and Senior Associate Gia Cari advised on the intricate property aspects of the transaction.

In Bingo Industries’ official ASX announcement, Ian Malouf, founder of Dial-A-Dump commented on the sale: “We have a lot of respect for Bingo and how they have built their business. Bringing together these two Australian companies makes complete sense. I fully support Daniel Tartak the CEO and Bingo’s growth strategy, particularly the vision of a master site at Eastern Creek that can process all waste types. With the infrastructure program in NSW and the new waste levy in Queensland, the market is only going to grow and I’m excited to be on board for the journey.”

Jeremy Leibler, Partner said: “We are delighted to have guided Ian and Dial-A-Dump on what is a very complex transaction that will deliver fantastic value to both the shareholders of the Dial-A-Dump group and also to the purchaser Bingo Industries. Transactions like this don’t happen without an enormous amount of hard work by a large team of dedicated and talented people and we are proud to have played our part.”

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