Ledlin’s Sustainable Concrete Group Eyes Middle East Expansion

When a group of technology developers approached Oscar Ledlin two years ago about recycling solar panels, he wasn’t interested. The market was too small. Six months later, they returned with a different proposition: turning waste glass into concrete. When asked if he knew much about concrete, Ledlin, a concreter by trade, told them: “Concrete’s my forte”. The conversation sparked Sustainable Concrete Group, a venture that now converts contaminated glass waste into engineered sand for concrete production. The group has bought into five established concrete and civil construction businesses, with combined annualised revenue exceeding $100 million. The group buys 50 per cent stakes in concrete and civil businesses, providing capital and sustainable sand supply to help them win tier one and government contracts. “We want to grow the most sustainable concrete business in Australia by acquiring 50 per cent stakes in established concrete civil businesses and helping them become more sustainable,” he tells The Urban Developer . “It’s a mission that’s close to my heart and also a mission that’s very commercial, so it’s got my full attention.” Based on the current portfolio, enterprise value is expected to exceed $150 million. The group recently closed a Series A funding round at a $100-million valuation, with earnings before interest, tax, depreciation and amortisation above $22 million. Ledlin is targeting an initial public offering in future. The process takes contaminated, laminated glass destined for landfill and throws it down a vortex about 400km/h into an impeller that cuts and reshapes the glass into a sand-like substance. It is used in place of natural sand in concrete production. Sand ranks as the second most used resource in the world after water, Ledlin says. The engineered sand also has applications for mortar and cable backfill and a recent thermal rating approval has paved the way to expanding its uses, but concrete remains the primary focus due to its commercial value and volume potential. “There’s a whole lot of opportunities to delve into different markets, but we’re happy just to go hard with the concrete space,” Ledlin says. ▲ Oscar Ledlin at Sustainable Concrete Group’s Dandenong South facility. A small facility has been the source of the sand but a larger plant is now starting production at Dandenong South, about 43km south-east of Melbourne by road. The group has finalised agreements for facilities in Brisbane and Sydney, with machines ordered for the expansion. Supply deals with Holcim and Boral have positioned the business for momentum in 2026. Partnerships with O’Brien Glass, National Windscreens and local government will divert materials otherwise destined for landfill into sustainable sand production. Windscreens are a major source due to rubber and contaminant coatings preventing traditional recycling. Ledlin says glass waste recycling facilities such as Visy’s $500-million Gladstone plant can only process clean materials for consumer product applications. “They can’t take anything contaminated and laminated. So windscreens are a big one for us because they’re covered in rubber and all sorts of different contaminants,” he says. The private equity side targets business owners who have built operations over 10 to 15 years but haven’t taken much money out despite high turnover and tax payments. Ledlin says demand for the partnership model is overwhelming. “To be frank, we’ve got more people pitching us to buy half their business than we have to pitch them at the moment,” he says. The acquisition process works on commercial terms based on market valuations, with no “sweat equity” requirements or discounted deals tied to sand supply. Founders get immediate capital while keeping 50 per cent ownership and operational control. The IPO path offers extra upside, Ledlin says, as business owners can sell another 5 to 10 per cent of their holdings at listing, potentially at multiples 7 to 10 times higher than their businesses would get independently. ▲ “We’re taking the worst of the worst—all the stuff that’s destined for landfill and we’re turning into something usable,” Ledlin says. Corporate advisory support and sustainable sand supply help the businesses win tier one and government contracts. This drives immediate market adoption of the product and lifts the value of the businesses. “As far as privates go, we’re only supplying businesses that we have an equity stake in,” Ledlin says. The recycled sand matches natural sand pricing up to 40 megapascals in concrete applications. Beyond 40 megapascals, it should be cheaper due to reduced sand content and higher cement ratios, although testing continues for higher-strength concrete. Ledlin says the group has secured a heads of agreement for Middle Eastern expansion, signed late last week. An eight-figure investment would establish Sustainable Concrete Group GCC, a special purpose vehicle covering the United Arab Emirates, Saudi Arabia, Lebanon and other regional markets. The Middle East faces severe sand scarcity despite vast deserts, importing all construction sand from Australia and the US. Regional glass waste stockpiles and strong sustainability focus create good conditions for the technology. The equipment is portable, which makes the expansion strategy even more viable. The core machinery fits within a 20-foot shipping container, with readily available baghouses set up alongside. Mobile units can process stockpiles of 50,000 tonnes before moving to new sites. “It’s pretty much a day setup, a day pull down and then the equipment’s back on a truck,” Ledlin says. ▲ The group supplies engineered sand to Holcim and Boral, with private supply restricted to the five concrete businesses it has acquired. Eight machines have been ordered from South African manufacturers to support the overseas operation. The group hasn’t sent equipment to the Middle East yet but is working on detailed documentation with regional partners and government officials. In the meantime, Ledlin’s primary focus is on the Australian expansion. Conversations are under way for Perth operations, targeting a dozen machines nationally to reach scale. Major players in quarrying and premix concrete spaces have already expressed investment interest tied to supply arrangements. The technology is now patented and Ledlin says the race is on to establish a foothold in the market before competitors come to play. “We think that there’s a real race to gain scale because other players will, no doubt, be moving into this space,” Ledlin says. Concrete is a complex material to work with, Ledlin says. Sand from different mines or veins holds water differently, temperature changes affect performance and the material behaves unpredictably. The consistent quality of glass sand may offer advantages over traditional sand’s variability. Ledlin is still learning the material’s details while racing to secure feedstock, lock in supply deals and build market presence before competitors arrive. The group’s aggressive 2026 financial year growth plans target east coast expansion and more acquisitions of concrete and civil businesses. The mission combines commercial opportunity with environmental impact, diverting thousands of tonnes of glass from landfill while building Australia’s most sustainable concrete business. “This is about bridging two big generational shifts. One is demographic, being the huge wave of business owners retiring without succession, and the other is environmental—we have to change how we build. Our model does both,” Ledlin says.

Ledlin’s Sustainable Concrete Group Eyes Middle East Expansion

Get the full story.

Time is Right: Builders Migrate North to Ride Queensland’s Next Boom

New Zealand Office Project ‘Cracks Code’ for Mass Timber Viability

Nature-Positive Housing Model Put to the Test in South Australia

From Upzoning to Delivery: The Hard Reforms Coming in 2026

Architecture’s AI Shift: Faster Design, Same Humans

Melbourne Long Lunch | Panel discussion with Tim Price, Jeremy McLeod, Katya Crema & Anne Michaels

A fireside chat with Troy Daffy | Managing Director, Silverstone Developments

Brisbane Long Lunch | Panel discussion with Rob Comiskey, Frank Licastro, Steve Laffey & Alexandra Stuart-Robertson

Sydney Long Lunch | Panel discussion with Jamie Durie, Jennifer Macquarie & Michael Romano

‘Industry Reset’ Looms After Qld Productivity Bombshell

State Gives NextDC Green Light for $2bn M4 Data Centre

Perifa’s Affordable Balmain Homes Win State Security

Time is Right: Builders Migrate North to Ride Queensland’s Next Boom

2026 Developer Outlook Lunch | Melbourne

2026 Developer Outlook Lunch | Brisbane

2026 Developer Outlook Lunch | Sydney