Waste management company Biffa has acquired Weir Waste Services Limited (WWS) for a consideration plus debt taken on of £16.2m, and is also acquiring three other waste management businesses.
In the year up to 31 May 2017, WWS generated £16.1m of revenue, had a reported EBITDA of £2.2m, operating profit of £1.1m and gross assets of £14.5m.
Biffa says WWS is highly complementary to its business, with commercial collections serving 1,600 customers, a frontline fleet of 45 vehicles and a substantial recycling and waste treatment operation from a seven-acre freehold site at a key location in Birmingham. The company employs 120 people.
A spokesman for Biffa said: 'The Weir Waste business significantly strengthens our presence and customer offer in Birmingham and the Midlands while the other acquisitions further enhance our platform in their respective markets'
The business will be incorporated into Biffa's Industrial & Commercial division, enabling the combined business to broaden its customer offering throughout Birmingham and the West Midlands and to deliver operational and procurement benefits.
Biffa has agreed a further three acquisitions in the current financial year for a total consideration plus debt taken on of £3.9m, adding annual revenue of £4.9m.
These are: the trade and assets of H&A Recycling Limited, a commercial waste collection and recycling business in Cornwall; the trade and assets of Bisset Waste Management Limited, a commercial waste collection business in Scotland, and certain trade and assets of Vecta Group Limited, a waste collection business in East London.
All three acquisitions will also be incorporated into Biffa's Industrial & Commercial division.
Michael Topham, chief financial officer and CEO-designate of Biffa, said: 'The acquisitions we have announced demonstrate our ongoing ability to identify and execute value accretive acquisitions across the UK.
'The Weir Waste business significantly strengthens our presence and customer offer in Birmingham and the Midlands while the other acquisitions further enhance our platform in their respective markets. We welcome the staff and customers of these businesses to Biffa'
