Clifford Chance Advises on Cleanaway’s AU$377 Million Acquisition.

Cleanaway, one of Australia’s largest waste management companies, has agreed to acquire Contract Resources for AU$377 million.

The deal, which is subject to approval by the Australian Competition and Consumer Commission (ACCC), was supported by global law firm Clifford Chance, offering legal expertise throughout the transaction.

This acquisition expands Cleanaway’s reach into the energy sector, enhancing its capabilities in critical path maintenance services for energy infrastructure.

Contract Resources provides specialized maintenance services to the energy sector, operating across Australia, New Zealand, and the Middle East. Known for its focus on maintaining energy infrastructure, Contract Resources is poised for future growth under Cleanaway’s ownership.

Andy Waite, Chairman of Contract Resources and Managing Partner of SCF Partners, stated, “The team at Contract Resources have been wonderful partners to SCF since our investment in 2019 and we are hugely appreciative of all of their efforts.

We feel that Cleanaway is an excellent strategic fit for Contract Resources and a good long-term home for the business. We are excited to watch the development of Contract Resources in partnership with Cleanaway and wish the whole team at both companies all the best in this exciting new chapter.”

Mike Charles, CEO of Contract Resources, said, “Since SCF Partners’ investment in 2019, Contract Resources has achieved outstanding growth, doubling our revenue and expanding our service offerings. Our success in specialized industrial solutions, is a result of our commitment to safety, innovation, and service quality.

The acquisition by Cleanaway is a significant milestone, positioning us to capitalize on new growth opportunities, particularly in the decommissioning of aging energy infrastructure. I am incredibly proud of our accomplishments under SCF’s ownership and look forward to an exciting future with Cleanaway.”

The acquisition aligns with Cleanaway's broader strategy to diversify its services and strengthen its position in the energy sector. By bringing Contract Resources into its fold, Cleanaway can extend its service offerings and take advantage of new opportunities in the growing decommissioning market for aging energy infrastructure.

The acquisition provides both companies with the ability to collaborate on expanding services, benefiting from Cleanaway’s national reach and Contract Resources’ expertise in energy maintenance.

Since SCF Partners’ investment in 2019, Contract Resources has seen significant growth, including a doubling of revenue and an expanded service portfolio. This success is attributed to the company’s commitment to safety, innovation, and quality.

Under Cleanaway’s ownership, the company is set to build upon its achievements and explore new growth opportunities in the energy sector, particularly in energy infrastructure decommissioning, a key area for future development.

The legal side of this complex cross-border transaction was handled by Clifford Chance, which provided expert counsel on multiple aspects of the deal.

Lead partner Jacob Kahwaji, along with senior associates Sarah Jenkins, Jack Corcoran, and associate Henry Garing, managed the intricacies of the transaction. Antitrust counsel Mark Grime and senior associate Sam Frouhar ensured that the deal complied with all regulatory requirements.

The firm also provided expertise on the Middle East aspects of the deal, with UAE-based partner Jason Mendens and associates Callum Gribbin and Stavros Paterakis offering valuable support.

SCF Partners is a private equity firm that partners with entrepreneurs to build leading companies in the energy sector. Founded in 1989, the firm focuses on energy services, products, and technology, with a global presence across North America, Europe, Asia-Pacific, and the Middle East. SCF emphasizes long-term growth and value creation, working closely with entrepreneurs to develop sustainable businesses. The firm’s investor base includes non-profit organizations, universities, and charitable endowments, with a strong commitment to environmental, social, and governance (ESG) initiatives.

Contract Resources is a leading provider of specialized industrial services across Australia, New Zealand, and the Middle East. With a focus on maintenance and complex industrial solutions, the company delivers efficient and safe services in sectors like energy, petrochemical, and infrastructure. Their expertise includes services such as catalyst handling, decontamination, shutdown management, and offshore operations. Known for its commitment to quality, safety, and innovation, Contract Resources embraces new technologies to drive continuous improvement. The company’s values emphasize teamwork, sustainability, and delivering results that exceed client expectations. Their dedication to health, safety, and the environment forms the core of their operations.

Cleanaway is one of Australia's leading total waste management companies, providing essential waste, recycling, and environmental services across the country. With over 7,900 staff and 330 locations, Cleanaway offers a comprehensive range of solutions to industries such as municipal, industrial, commercial, and healthcare. The company focuses on sustainability, offering innovative waste management strategies that help businesses reduce their environmental impact. Cleanaway operates with a commitment to health, safety, and environmental responsibility, ensuring services that meet the highest standards for both customers and communities. Their ongoing efforts align with the company’s vision of creating a cleaner, more sustainable future for Australia.

Clifford Chance is a global law firm, established over 100 years ago, renowned for its expertise in banking, corporate law, finance, dispute resolution, and tax. With offices worldwide, it serves clients including corporations, financial institutions, governments, and not-for-profits. The firm delivers high-quality legal advice, combining global standards with local expertise, and strives to exceed client expectations by providing innovative solutions across all sectors.

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