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Irish-owned waste management firm Greenstar UK has made its
second acquisition in South East England.
Just four months after acquiring Kent-based waste firm Verdant
(Click
Here), the company has bought Bedfordshire-based commercial
recycling firm Dunstable Waste Group, which trades
as Firbank Chiltern.
The deal includes a 5,000-tonne capacity can recycling facility
and a 175,000-tonne licensed transfer station and materials
recycling facility belonging to Firbank Chiltern at Houghton
Regis, near Dunstable. It is expected to complement municipal
services offered by Greenstar in the region through Verdant
and is part of a strategic drive to provide fully integrated
end-to-end recycling services in the UK.
Greenstar chief executive Ian Wakelin said - "This deal
gives Greenstar a bigger footprint in the South East. We see
considerable opportunity for expanding our very successful
commercial waste and recycling model in the region and for
locking in synergies with Verdant's municipal contracts.
"There is also opportunity in capturing growing volumes
of recyclable materials to feed our Aldridge MRF, nearing
completion on the outskirts of Birmingham" - he added.
Luton-based Dunstable Waste Group Ltd was established in
2003 with the amalgamation of Firbank Recycling Ltd and Chiltern
Wasteaway Ltd. The company handles around 5,000 tonnes of
waste and recyclable materials a year. It handles general
waste, glass and mixed recyclables from commercial and industrial
customers around the Dunstable, Bedford and Luton areas.
The firm's annual turnover grew by nearly 25% in the
year ending September 2007. Current directors - Robert Firbank
and Ray and Steve Levett - will remain with the business to
ensure a smooth transaction.
Mr Wakelin said - "We've put in place yet another
element of our strategic vision. Greenstar is well on its
way to building a national network of fully-integrated collection
and processing services that will enable British companies
and Britons to waste less and recycle more."
Greenstar UK is the UK arm of the Greenstar waste management
subsidiary, owned by Ireland's NTR group - a developer,
financier and operator of public and environmental infrastructure.
The firm operates from nearly 40 facilities throughout the
UK and forecasts an annual revenue of �121 million.
Greenstar's Aldridge MRF in Birmingham is due to open
this summer.
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