Carlyle Cardinal Ireland Invests in The City Bin Co

The investment, terms of which are not being disclosed, is expected to be completed in the coming months.

Gene Browne will remain as CEO of the company and the existing management team – including managing director Niall Killilea and CFO Louise Niemann – will continue to lead the company. Cardinal Capital director Ian Daly will join the board of directors of The City Bin Co upon completion of the investment, alongside Carlyle director Esmond Greene and managing director Jonathan Cosgrave.

CCI has been an active growth investor in Ireland since 2014, when the Carlyle Cardinal Ireland Fund closed on €292m. The vehicle typically targets mid-cap investments. The City Bin Co is the fund's 11th investment.

Current CCI investments include The AA Ireland, Sports Surgery Clinic, Carroll Cuisine, Learning Pool and McCauley Pharmacy Group. In April this year, CCI announced the sale of Payzone to a joint venture company established by AIB and First Data Corporation.

Company
The City Bin Co, founded in 1997 and based in Dublin, is a provider of waste management services in both Dublin and Galway City, serving around 80,000 household and commercial customers. The City Bin Co solely focuses on source-segregated waste collection from residential households and commercial businesses. 

The business employs around 150 people.

People
The City Bin Co – Gene Brown (CEO).  
Carlyle Group – Esmond Greene (director).
Cardinal Capital Group – Ian Daly (director).  

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