Carlyle Cardinal Ireland will invest in waste management company City Bin Co. Ltd.

Carlyle Cardinal Ireland is a private equity fund set up by Carlyle Group LP and Cardinal Capital Group.

City Bin CEO Gene Browne will remain at the company's helm, alongside CFO Louise Niemann and Managing Director Niall Killilea.

Cardinal Capital Director Ian Daly, Carlyle Director Esmond Greene and Managing Director Jonathan Cosgrave will join the company's board.

The transaction, which is expected to close in the coming months, is subject to Competition and Consumer Protection Commission approval.