The Australian Competition and Consumer Commission (ACCC) has announced that it will not oppose Igneo Infrastructure Partners’ proposed acquisition of Benedict Recycling Pty Ltd. This decision follows a restructuring of the transaction that addressed the ACCC’s preliminary competition concerns.

Igneo manages an infrastructure fund that owns Integrated Waste Services (IWS), which operates under the Recycle Central brand in New South Wales. The ACCC had previously expressed strong concerns that the acquisition could substantially lessen competition in the supply of mixed building and demolition (B&D) waste processing services in the Newcastle region, where IWS and Benedict Recycling are direct competitors.

In September 2025, the ACCC highlighted that the merger could lead to higher prices or reduced service quality for customers disposing of mixed B&D waste. To alleviate these concerns, the merger parties restructured the deal to exclude Benedict Recycling’s Newcastle Recycling Centre in Mayfield West from the acquisition.

With the revised transaction, the Newcastle Recycling Centre will remain under the ownership of Benedict Recycling’s current owners and will continue to operate independently. The ACCC has now concluded that the acquisition is unlikely to result in a substantial lessening of competition in the market.

Igneo’s acquisition aims to enhance its waste management operations, which include a range of services such as resource recovery and commercial composting. The restructuring of the deal reflects a proactive approach to maintaining competitive dynamics in the Newcastle waste processing market.