Product category:
Solid Waste Disposal and Land Pollution
News Release from: Greenstar Environmental
Edited by the Processingtalk Editorial
Team on 02 November 2007
Greenstar acquires Verdant in the UK
Greenstar UK, the leading waste management company, announces the acquisition of Verdant Group, one of the largest independent municipal services providers to UK local authorities
The Verdant core business is the provision of refuse collection, recycling and other associated services under long term contracts to 19 local authorities, based mainly in the South East Following the acquisition of Waste Services in 2006, Verdant also provides a trade waste and recycling collection service to businesses in the South/South East
This article was originally published on Processingtalk on 26 Feb 2007 at 8.00am (UK)
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Based in Sevenoaks, Kent, Verdant operates from 33 sites and collects over 100,000 tonnes of recyclable materials per annum.
Forecasted revenue for the year ended 31 October 2007 is approximately GBP45m.
The acquisition of Verdant will significantly extend the scale of the Greenstar UK activities, creating an enlarged Group with forecast revenue of GBP121m, managing over 270,000 tons of material per annum, operating from 38 facilities throughout the UK.
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The enlarged Group will have approximately 1,450 employees and operate a fleet of 525 trucks.
Verdant was jointly owned by Jon and Simon Miles who acquired the business in 2001.
Both Jon and Simon will stay with the company following the acquisition to help secure the continued successful growth of the combined organisation.
Commenting on the acquisition, Ian Wakelin, Managing Director of Greenstar UK said: "This is a significant acquisition for Greenstar UK and strongly supports our strategic objective of becoming the leading recycling led waste management company in the UK through the development of a nationwide footprint of recycling and reprocessing facilities.
The municipal waste management market is valued at approximately GBP1.6 billion, of which some 40% is outsourced to the private sector.
The combination of the Verdant strength in municipal collection and the Greenstar processing capabilities puts us in a unique position to compete in this market, providing the municipal market with a company that has strength in both collection and reprocessing of recyclables.
In addition, with expected growth in the volume and value of the commercial waste market through increasing levels of recycling, we believe there is a significant opportunity to offer fully integrated waste management solutions to the business sector.
The acquisition will also provide us with the opportunity for substantial growth through Verdant's commercial waste division," Mr Wakelin concluded.
Jon Miles, commented: "We believe that the success of both companies to date will be further enhanced by this development.
From a strategic and cultural point of view there are great synergies between the two organisations which will provide a stronger platform for further growth and development of the enlarged entity".
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