On July 5, 2006, Kohlberg Kravis Roberts & Co. L.P. (“KKR”) closed its acquisition of Cleanaway and Brambles Industrial Services (“BIS”) businesses of Brambles Australia Limited in Australia in a transaction valued at approximately US$1.4 billion. This acquisition marks KKR’s first investment in Australia, which also ranks as the largest management buy-out to date in this market.
Cleanaway is the leading waste management operator in Australia and BIS is the leading outsourced supplier of on and off-site materials handling and logistics services to the minerals, metals and coal mining sectors in all states of Australia.
The global team of STB attorneys who worked on this successful transaction include: Jin Hyuk Park, Patrick Naughton, Anthony Choi and Woojae Kim in Hong Kong, Mark Pflug, Tony Keal, Nicholas Shaw, Jed Weiner and Wheatly Aycock in London, Ed Tolley, Joe Kaufman and Alvin Brown in New York. KKR was also represented by two Australian counsels, who were Mallesons Stephen Jacques and Gilbert + Tobin.