Bingo, a significant player in the waste management sector, is owned by the Macquarie Infrastructure and Real Assets (MIRA) business unit, an arm of the renowned financial services giant Macquarie.
Since mid-2021, MIRA has held ownership of Bingo following a successful $2.3 billion takeover. This acquisition positioned Bingo under the umbrella of one of the world's leading infrastructure investors, demonstrating the strategic value seen in its operations and market presence.
About Bingo's Operations
Bingo operates extensively in the waste management and recycling industry, primarily serving major Australian cities. Its robust operational framework includes:
- A substantial fleet of 330 distinct orange-coloured trucks used for waste collection and transport.
- 15 recycling centres and rubbish dumps strategically located across Sydney and Melbourne, facilitating efficient waste processing and disposal.
This extensive infrastructure supports Bingo's role in providing essential waste collection, processing, and recycling services to communities and businesses. The acquisition by Macquarie's specialist infrastructure arm underscores the strategic importance and long-term potential of the waste management sector.
Key Acquisition Details
To provide a clearer overview of the ownership change, here are the key details:
| Detail | Description |
|---|---|
| Current Owner | Macquarie Infrastructure and Real Assets (MIRA) |
| Parent Group | Macquarie Group |
| Acquisition Year | Mid-2021 |
| Takeover Value | $2.3 billion |
This strategic move by Macquarie highlights the increasing interest of large financial institutions in essential infrastructure and services sectors like waste management, viewing them as stable, long-term investments.
