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Selling a waste or industrial business

Access strategic insight across the Australian market

The waste and industrial services sector continues to evolve as infrastructure investment, environmental regulation and consolidation reshape the market. Nash Advisory helps business owners prepare for sale, position their companies effectively and connect with qualified buyers.

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Waste management industry insights 

The Australian waste management industry is closely linked to population growth and is generally protected from economic fluctuations. This revenue stability supports consistent mergers and acquisitions activity and sustained buyer interest.

Over the past 40 years, the sector has consolidated significantly, with the last decade shifting toward specialised streams such as construction and demolition, medical and stormwater waste. More than 20 million tonnes of urban waste go to landfill each year, driving policy focus on diversion and energy recovery, and reshaping investment and valuations across the sector.

  • The sector spans collection, processing, recycling, treatment and landfill disposal, with each segment carrying different capital intensity, margins and competitive dynamics.
  • Large-scale acquisitions and multi-billion-dollar deals highlight strong institutional demand for waste management infrastructure and recurring service contracts.
  • Global companies can trade at double-digit EBITDA multiples, supporting premium valuations for Australian operators with diversified revenue.
  • Rising landfill levies and National Waste Policy initiatives are accelerating demand for advanced waste management solutions, including waste-to-energy and sustainable processing.

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"There's a lot driving M&A in waste and industrial at the moment. The circular economy, infrastructure spend, and tighter regulation are all playing a part. What stands out to us is how many Australian operators have built something genuinely unique, and that's exactly what serial acquirers here and overseas are looking for."
Tom Butler
Tom Butler
Managing Director

TRANSACTION EXPERTISE IN WASTE & INDUSTRIAL SERVICES

Strategic advice for waste & industrial business sales

Waste management and industrial services businesses operate in capital-intensive, regulated markets where scale and recurring contracts drive buyer interest. Nash Advisory works with business owners to prepare for sale, identify the most relevant buyers and run structured sale processes designed to maximise value.

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total enterprise value transacted
$
1.9
bn+
Total enterprise value transacted
Enterprise value in FY22
$
400
m+
Enterprise value in FY25
successful deals completed
63
Successful deals completed
Private equity bolt-on deals
25
Private equity bolt-on deals
Valued team members
22
Team members
Completed transactions per year
15
+
Completed transactions per year

Key factors affecting valuation

  • Long-term contracted revenue: Municipal waste contracts and long-term disposal agreements provide earnings visibility and strengthen valuation outcomes.
  • Specialised waste capabilities: Operators handling medical, hazardous or complex industrial waste often achieve premium pricing due to regulatory barriers.
  • Operational efficiency and recycling performance: Efficient processing and strong recycling rates support margins and reduce exposure to volatility in waste volumes.
  • Asset ownership and geographic positioning: Ownership of processing infrastructure and exposure to high-growth regions increase buyer appeal.

Transaction outcomes across waste and industrial services

Our directors have supported founders and investors in waste management services transactions, guiding sale preparation, buyer engagement and complex deal execution.

What our clients say

Working with Nash was an absolute pleasure. They were at all times completely responsible and accountable to everything that we needed. Their strong financial acumen was incredibly important throughout the whole process. It was really important that they were able to truly articulate the value of the business in its current state and also look and really delve into the potential future alternate uses for the business…We were really happy with the interest that Nash generated. So we had multiple seriously interested parties, which created that competitive tension that you really need in a deal and was able to achieve the outcome that we wanted and that we expected.

Fiona Selby
Managing Director of Boneo Park
Map of global buyers

Global Capabilities

Unlock a world of possibilities with Nash Advisory's global capabilities. Through our partnership with REACH, we provide unparalleled access to industry experts and local market connoisseurs across 30 countries.

Whether you're selling your business, merging, or seeking investment, our team of seasoned professionals crafts bespoke strategies tailored to your unique needs. Trust us to navigate the complexities of the global market, ensuring you achieve exceptional outcomes that reflect the true value of your hard work and dedication.

Global capabilities

The Nash Advisory advantage

Work with our directors

As one of our clients, you will have direct access to the knowledge and experience of our directors. We will work through the whole process with you, from start to finish.

Real business experience

We know what makes a business appealing to buyers, because we've owned and run businesses ourselves. Our own experience informs every step of our process.

Network of buyers

Maximising the sale price of your business requires finding the right buyer. We have a broad network of contacts which includes Australian and international businesses.

Outcomes focused

We only succeed if you do. We focus all our efforts on getting you the best result. That's why most of our fees are on the back end.

Work with our directors

As one of our clients, you will have direct access to the knowledge and experience of our directors. We will work through the whole process with you, from start to finish.

Real business experience

We know what makes a business appealing to buyers, because we've owned and run businesses ourselves. Our own experience informs every step of our process.

Network of buyers

Maximising the sale price of your business requires finding the right buyer. We have a broad network of contacts which includes Australian and international businesses.

Outcomes focused

We only succeed if you do. We focus all our efforts on getting you the best result. That's why most of our fees are on the back end.

Our waste sector advisory services

View all services

We support industrial businesses through sale preparation, valuations, sales, mergers and acquisitions. Explore our core services designed to maximise value and reduce transaction risk.

Selling a business

We provide expert guidance to help you prepare, market, and negotiate the best outcome for your business sale.

See how we do it

Business valuations

Our team delivers accurate, data-driven valuations to help you understand and enhance your business’s worth.

See how we do it

Business mergers & acquisitions

Our proprietary approach to business sales ensure you get the highest possible sale multiple for your business.

See how we do it
Sample toolkit

Roadmap to maximise value in your business sale

See the structured process we follow to manage complex business sales. Download our blueprint to understand each stage, from preparation to negotiation and completion.

Download now

Completed deals across the Australian waste management industry

We have advised on transactions across industrial waste, hazardous waste, and construction and demolition waste, delivering structured processes and strong commercial outcomes.

Logo of Saunders Civilbuild Precast
Completed deal:

Saunders Civilbuild Precast

Date:
April 29, 2024
Sub sector:
Manufacturing

Saunders Civilbuild is a leader in the manufacture of precast and prestressed concrete products in the New South Wales market.

Nash assisted Evolution Precast Systems to acquire ASX listed Saunders Civilbuilds precast concrete operations. The process began in March 2024, and diligence and legals were completed in under 4 weeks due to Nash’s ability to quickly size up the opportunity, review documents, and negotiate terms. Nash were able to manage both buyer and sellers to successfully transact a complex industrials business.

The transaction was led by Sean O’Neill.

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Logo of Waeger Constructions
Completed deal:

Waeger Constructions

Date:
December 1, 2023
Sub sector:
Manufacturing

Waeger Constructions is a leader in the manufacture of precast and prestressed concrete products in the New South Wales market.

Nash assisted Evolution Precast Systems to acquire Waeger Constructions. The process began in April 2022 with informal meetings and getting to know one another. The two businesses shared information over time and signed a term sheet in early 2023. A range of diligence streams were managed during 2023 with an integration and capital development plan agreed in late 2023. Nash were able to manage both buyer and sellers to successfully transact a complex industrials business.

The transaction was led by Sean O’Neill.

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Logo of HydroTech
Completed deal:

HydroTech

Date:
May 30, 2022
Transaction type:
Business advisory
Sub sector:
Storm water maintenance

Nash Advisory assisted Total Drain Group to acquire HydroTech NZ, providing the Group with expansion into the New Zealand water maintenance market.

Nash Advisory conducted deep diligence on the target and negotiated a mutually beneficial outcome with the vendors. Led by Sean O’Neill, the acquisition was successfully completed in May2022.

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Logo of Bartlett's Environmental Services
Completed deal:

Bartlett's Environmental Services

Date:
April 11, 2021
Sub sector:
Storm water maintenance

Nash Advisory assisted Total Drain Group to acquire Bartlett's Environmental, providing the Group with expansion into the regional Victorian storm water maintenance market.

Nash Advisory conducted deep diligence on the target and negotiated a mutually beneficial outcome with Bartlett's Environmental. Led by Sean O’Neill, the acquisition was successfully completed in April 2021.

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Logo of Gilmores
Completed deal:

Gilmores

Date:
March 1, 2021
Sub sector:
Packaging and consumables supply

Nash Advisory was appointed by JC Gilmore Pty Ltd, a leading industrial consumables supply business, to assist in the sale of the business. Extensive working capital modelling ensured an equitable outcome was achieved for both parties. Nash Advisory successfully sold the business to UBEECO, a subsidiary of US-based, NASDAQ listed UFP Industries (NASDAQ: UFPI).

Led by Kieran Ellis and Tom Butler, the sale was successfully completed in March 2021.  

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Logo of Water Treatment Services
Completed deal:

Water Treatment Services

Date:
February 8, 2021
Sub sector:
Industrial water treatment

Water Treatment Services is an independent, Australian owned company providing innovative products and solutions to water quality issues in a wide variety of Industrial, Municipal, Mining and Environmental applications. The company provides a total service concept (including specialty chemical treatment programs) focusing on achieving cost effective outcomes for customers through innovation and developing tailored / customised chemical treatment products specifically suited to the operating environment.

Nash Advisory was appointed by Water Treatment Services to assist with the negotiations with a large multi- national corporation who had made an unsolicited offer to acquire the company. At the conclusion of the negotiations, the owners of WTS decided to go to market. In November 2018, Nash Advisory developed a tailored marketing campaign and approached selected buyers in the industry. This resulted in 5 offers being received from market including from trade buyers and Private Equity.

Upon acceptance of an offer in February 2019, due diligence began however this was immediately impacted due to COVID 19 when travel restrictions and various lockdowns across states prevented site tours and face to face meetings from occurring. Fortunately, due diligence recommenced in July2020 with the final sale agreement being signed in late December 2020.      

Led by Tom Butler, the sale was successfully completed in February 2021.  

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Logo of Environmental Services Group
Completed deal:

Environmental Services Group

Date:
September 1, 2019
Sub sector:
Storm water maintenance

Nash Advisory assisted Total Drain Group to acquire Environmental Services Group, providing the Group with interstate expansion into the Victorian storm water maintenance market.

Nash Advisory conducted deep diligence on the target and negotiated a mutually beneficial outcome with Environmental Services Group. Led by Sean O’Neill, the acquisition was successfully completed in September 2019.

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Logo of Australian Crane and Machinery
Completed deal:

Australian Crane and Machinery

Date:
October 1, 2018
Transaction type:
Business advisory
Sub sector:
Infrastructure, industrial equipment, civil construction

Nash Advisory led the development of a 5 year business plan for Australian Crane and Machinery (ACM), which included the full commercial strategy for the business and a 10 year financial model. ACM had 4 separate divisions: production, new sales, second-hand sales, and equipment hire.

The results of the analysis drove the overall corporate strategy, which the executive team began to implement in late 2018.We also assisted the company in developing and managing the budget, and securing additional equipment finance by liaising with banks and debt financiers.

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Logo of Blueprint Group
Completed deal:

Blueprint Group

Date:
September 1, 2018
Transaction type:
Business advisory
Sub sector:
Signage and wayfinding, urban art, lighting and digital, and architectural features

Blueprint is a design and implementation studio focused on signage and wayfinding, urban art, lighting and digital, and architectural features. Nash Advisory were appointed by the Blueprint Group to assist with the company’s growth plans.

Nash Advisory completed a Strategic Review of the business, and identified the company’s most profitable services and industries. The team also identified processes that could be streamlined to ensure valuable resources are fully utilised. Nash also assisted in the implementation of reporting, and the hiring of key staff.

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Logo of Link Recycling
Completed deal:

Link Recycling

Date:
May 1, 2018
Transaction type:
Selling a business
Sub sector:
Rubbish removal

Link Recycling, a Melbourne-based hard waste and recycling company, engaged Nash Advisory to undertake a sale process to allow the owners to exit the business.

Over the course of six months, Tom Butler and Lucas Couper led the engagement, coordinated between the owners of Link Recycling, the legal team, and Remondis the buyer to achieve a positive result for our client.

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Logo of Total Drain Cleaning (TDC)
Completed deal:

Total Drain Cleaning (TDC)

Date:
October 1, 2017
Transaction type:
Sub sector:
Rubbish removal

Total Drain Cleaning provides innovative solutions within the Sewer and stormwater industry, with capabilities such as drain cleaning, water blasting, condition assessment, and pipe rehabilitation.

TDC provides quality, safety, reliability and value for money for customers in Sydney, Newcastle and Melbourne. Combined with world leading technologies, experienced team members and long-term industry knowledge, Total Drain Cleaning can tackle projects of all sizes, from a simple blocked pipe to cleaning a large network.

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Logo of Hunter Records Storage
Completed deal:

Hunter Records Storage

Date:
February 1, 2017
Transaction type:
Selling a business
Sub sector:
Business processing

Nash Advisory assisted the shareholders with the sale of Hunter Records Storage to an international buyer.

Led by Lucas Couper, the deal completed in February 2017.

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Considering selling your waste or industrial business?

Our directors advise owners on strategic business sales, helping position waste and industrial companies to attract qualified buyers.

Meet our senior advisory team

Our directors bring hands-on experience across mid-market transactions, working directly with founders, investors and corporates in the waste and industrial sector.

Areas we serve in Australia and beyond

We advise clients across Australia and internationally, supporting waste and industrial transactions wherever opportunity arises.

Our advisors travel across Australia to work with business owners on-site and manage transactions on the ground. We connect vendors with qualified domestic and international buyers, wherever they operate.

Latest insights and market research 

Stay informed with practical insights on market trends, valuation drivers and transaction strategy across the waste sector.

Follow Nash Advisory on LinkedIn

Connect with us for updates on completed deals, market commentary and insights across business sales, mergers and acquisitions.

Frequently asked questions

How long does it take to sell a waste management business?

A structured sale process typically takes nine to twelve months from preparation to completion. Timelines depend on contract complexity, regulatory approvals and buyer due diligence requirements. Early preparation of financial records, contract documentation and environmental compliance data can reduce delays.

How large is the Australian waste management market?

Australia's waste management market generates billions in annual revenue and continues to expand as population growth, infrastructure investment and regulatory reform drive demand. More than 20 million tonnes of urban waste go to landfill each year, supporting sustained investment in collection, processing and diversion infrastructure.

What drives growth in the waste sector?

Key market drivers include rising waste generation, higher recycling rates, and policy frameworks such as the national waste policy. Demand for waste management solutions is increasing as businesses prioritise effective waste management and reducing landfill waste.

Which waste types or categories are most attractive to buyers?

Specialised waste types, such as hazardous, construction and demolition, and medical waste, often attract strong buyer interest. These segments typically benefit from regulatory barriers and consistent demand for disposal and treatment services.

How does regulation influence valuation?

State waste levies, environmental compliance and policy alignment directly impact market dynamics. Businesses aligned with circular-economy principles and efficient waste-management practices are better positioned for long-term growth.

Is waste-to-energy a real business opportunity?

Yes. Waste-to-energy is gaining traction as landfill capacity tightens. It presents an opportunity for operators to diversify revenue beyond traditional disposal models and benefit from policy support for energy recovery.

What metrics do buyers focus on in waste and industrial businesses?

Buyers assess revenue quality, contract tenure, and exposure to different service lines or waste streams. In industrial services, factors such as client concentration, workforce capability and safety performance are also critical. Margins, capital intensity and asset ownership influence pricing and deal structure.

Is the waste market projected to keep growing?

Yes. The waste management market is projected to expand, supported by population growth, rising landfill levies and increasing demand for recycling and waste-to-energy infrastructure. Consolidation activity is expected to continue as larger operators pursue scale and geographic coverage.

What makes an industrial services business attractive to buyers?

Industrial services businesses are typically assessed on contract stability, safety performance, and exposure to essential sectors such as mining, manufacturing and infrastructure. Buyers also look at recurring revenue, long-term client relationships, regulatory compliance and the ability to scale across multiple sites or regions.

Let’s discuss your transaction goals

Connect with Nash Advisory to explore your strategic options. Our director-led team will guide you through preparation, positioning and execution with clarity and discretion.

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