Toxfree expands with medical waste firm acquisition

Toxfree expands with medical waste firm acquisition

Waste management services specialist Toxfree has bought out Daniels Health and Daniels Manufacturing in a deal worth $186 million.

The ASX statement from Toxfree said Daniels is “the leading player” in medical waste services in Australia, providing waste management solutions including medical waste collection and treatment.

Daniels provides a range of waste management solutions, including medical waste collection and treatment, proprietary reusable sharps containers and safety devices, point-of-use disposal technology, recycling, gate waste, waste stream auditing, controlled substance destruction, secure shredding, training, compliance and education.

The business has about 300 employees in Australia across 17 locations, including at two incineration facilities in Sydney and Melbourne, as well as three joint venture managed sites in New Zealand.

Toxfree’s latest acquisition, which follows its purchase of Worth Recycling in March, boosts the scope of its waste services capabilities. The ASX announcement, made on 26 October, said this aligned with its ambitions to be the leader in specialist waste streams in Australia.

Steve Gostlow, Toxfree’s Managing Director, said: “The acquisition of Daniels is an exciting opportunity for Toxfree that will position us as a leader in specialist waste streams in Australia.

“Medical waste is highly complementary to our existing capabilities and focus, and Daniels provides Toxfree with a new set of capabilities and technology that we did not have before,” he added.

The ASX announcement confirmed that Dan Daniels, the founder of Daniels, will work with Toxfree as an advisor to the business.

Taking the opportunity of the Daniels announcement, Toxfree went on to share news of its recent contract successes, including:
– Qenos NSW, for hydrocarbon waste collection, treatment and recycling;
– Halliburton Australia, a total waste management contract for operations in Papua New Guinea and Australia
– Caltex Australia, for all hydrocarbon related waste across their operations nationally;
– Retention of Origin Energy’s total waste management contract for APLNG upstream;
– a new Memorandum of Understanding with BMT International to form a joint venture in Australia to manage and treat mercury-related waste streams from the oil and gas sector.

Full details of the Daniels transaction have been published on the ‘Investor’ section of the Toxfree website.

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