Global Resource Recovery | Victor Smorgon Group

Background

Global Resource Recovery (�GRR�) is an independent processor of specialised waste products, including glycol recycling, neutralisation of acidic waste, oil recycling, wastewater treatment and volatile waste handling and is capable of processing over 100 million litres of waste per annum. The business has operations in Victoria and Darwin, Australia.

Following a market-sounding exercise in 2020, 333 Capital was appointed by the Victor Smorgon Group (�VSG�) in 2021 as the Group�s exclusive financial advisor to divest GRR\'s Victorian operations. 

The ultimate buyer, Cleanway Group who are backed by international investment firm, AVC Enterprises, is one of Australia�s leading waste management and waste disposal businesses offering:

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• Emergency spill response services
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• Tailored waste management solutions
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• Chemical and hazardous waste disposal
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• Contaminated soil disposal
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• Industrial waste disposal
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• Liquid waste disposal.
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Our role

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• 333 Capital designed a tailored process to provide the vendors with a choice of potential acquirers and competitive transaction terms which included:
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• Designing the overall transaction strategy.
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• Assistance with preparing the business for acquisition or investment, including support with the documentation of their strategy and growth plans.
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• Identifying, targeting and engaging with potential acquirers globally.
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• Facilitating an efficient due diligence process, including managing a extensive data room, external advisers and QA process.
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• Negotiating transaction documents.
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The result

333 Capital led a highly competitive process which culminated in the selection of Cleanway Group as the preferred acquirer for Global Resource Recovery�s Victorian-arm.

Cleanway Group represented a compelling strategic fit to expand the business with a strong heritage in waste management across the eastern seaboard of Australia.