M&A Deal Summary

Thorntons Recycling Acquires City Bin

On July 29, 2022, Thorntons Recycling acquired environmental company City Bin from Cardinal Capital Group and The Carlyle Group

Acquisition Highlights
  • This is Thorntons Recycling’s 1st transaction in the Environmental sector.
  • This is Thorntons Recycling’s 1st transaction in Ireland.

M&A Deal Summary

Date 2022-07-29
Target City Bin
Sector Environmental
Buyer(s) Thorntons Recycling
Sellers(s) Cardinal Capital Group
The Carlyle Group
Deal Type Add-on Acquisition

Target

City Bin

Galway, Ireland
City Bin is a waste collection company engaged in providing waste management and recycling services. City Bin was founded in 1997 and is based in Galway, Ireland.

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Buyer(S) 1

Buyer

Thorntons Recycling

Dublin, Ireland

Category Company
Founded 1979
Sector Environmental
DESCRIPTION

Thorntons Recycling is a family run waste management and recycling business. The company operates a number of EPA licensed facilities and a number of permitted facilities in its main catchment areas. The facilities focus on recycling and recovering as much of the material received and reducing the amount of waste sent to landfill. Thorntons Recycling was founded in 1979 and is based in Dublin, Ireland.


DEAL STATS #
Overall 1 of 1
Sector: Environmental M&A 1 of 1
Type: Add-on Acquisition M&A Deals 1 of 1
Country: Ireland M&A 1 of 1
Year: 2022 M&A 1 of 1

Seller(S) 2

SELLER

Cardinal Capital Group

Investor Investor Investor Investor


Category Private Equity Firm
Founded 2002
PE ASSETS 292M EUR
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Cardinal Capital Group is an investment group principally focused on providing alternative financing solutions to small and mid-sized companies throughout Ireland. Cardinal Capital looks to invest €5 to €50 million per transaction and will consider direct investments as well as mezzanine financing commitments. Cardinal Capital Group was formed in 2003 and is based in Dublin.


DEAL STATS #
Overall 6 of 7
Sector: Environmental M&A 1 of 1
Type: Add-on Acquisition M&A Deals 4 of 5
Country: Ireland M&A 4 of 5
Year: 2022 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-26 Ashdale Care

Monaghan, Ireland

Ashdale Care provides specialist therapeutic residential services for young people with complex, emotional, and behavioural needs who cannot be adequately cared for in a mainstream setting. Ashdale Care was founded in 2001 and is based in Monaghan, Ireland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-09-19 McCauley

Dublin, Ireland

McCauley operates 35 stores nationwide on high streets, in shopping centers, retail parks, and medical centers that are focused on Health, Wellness, and Beauty and are renowned for their premium brands, high levels of staff training and excellent customer service. McCauley was founded in 1953 and is based in Dublin, Ireland.

Sell €50M
SELLER

The Carlyle Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1987
PE ASSETS 435.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.
Carlyle's corporate headquarters on Pennsylvania Ave. in Washington, DC.

The Carlyle Group is a global investment firm that pursues private equity, credit, and real estate investments worldwide. Carlyle's private equity practice practice pursues buyouts, strategic minority equity investments, equity private placements, consolidations and buildups, and growth capital financings. With offices in 19 countries, Carlyle can easily target opportunities throughout North America, Europe, Asia, Australia, the Middle East/North Africa and Latin America. Broad sectors of interest include aerospace, defense, automotive and transportation, consumer, retail, energy and power, financial services, healthcare, industrial, infrastructure, technology services, business services, telecommunications and media. The Carlyle Group was formed in 1987 and is based in Washington DC.


DEAL STATS #
Overall 449 of 488
Sector: Environmental M&A 6 of 6
Type: Add-on Acquisition M&A Deals 188 of 202
Country: Ireland M&A 6 of 7
Year: 2022 M&A 12 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-07-14 Service King Collision Repair Centers

Richardson, Texas, United States

Service King Collision Repair Centers is a regional multi-shop operator of collision repair facilities in the country, dedicated to offering customers an overall superior service experience. Service King Collision Repair Centers was founded in 1976 and is based in Richardson, Texas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-08-08 BenefitMall

Dallas, Texas, United States

BenefitMall is a national provider of employee benefits, payroll, HR and employer services. By combining payroll and benefits, BenefitMall empowers Trusted Advisors to develop the best employee programs while maintaining compliance with government regulations and Health Care Reform. BenefitMall was founded in 1979 and is based in Dallas, Texas.

Sell -