Tox Free acquires Waste Solutions (NT)

Henderson-based Tox Free Solutions has entered into an $18 million agreement to purchase Darwin-based Waste Solutions (NT).

The consideration for the Waste Solutions business comprises $10 million in cash and 3,832,904 fully paid ordinary shares in Tox Free.

Tox Free is a waste management provider in the North West region, providing industrial services, solid, liquid and hazardous waste management.

Waste Solutions is one of the largest waste management companies servicing the Darwin area and is expected to contribute a $3,500,000 per annum EBITDA to the Tox Free group, before any expansion of Tox Free existing services in the region.

The value of Waste Solutions assets is approximately $4 million, which are included in the purchase price.

Tox Free is expecting to grow the services offered in the Darwin area in the medium term and introduce synergies with Tox Free's Kimberly and Pilbara facilities.