Cleanaway Shares Surge 8.2% Following AU$377Mn Acquisition Deal

Thu 20 Mar 25, 02:09 AM | Team Kalkine

Shares of Cleanaway Waste Management Ltd (ASX:CWY) surged 8.2% on Thursday to AU$2.76 following the announcement of a major acquisition deal. The stock is now on track for its strongest trading session since 23 April 2024.

The Australian waste management firm revealed plans to acquire Contract Resources, a leading provider of industrial and environmental services, for AU$377 million ($239.62 million).

Cleanaway stated that the acquisition aligns with its long-term strategy to expand its service offerings. The deal is expected to deliver approximately AU$12 million in annual net cost synergies.

By integrating Contract Resources, Cleanaway aims to strengthen its capabilities in decommissioning, decontamination, and remediation operations—key areas that are seeing increasing demand amid growing environmental regulations and industrial sustainability efforts.

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