Viridor acquires recycling company Grosvenor Waste Management 
Viridor Waste Management Limited has acquired independent UK resource management company Grosvenor Waste Management Ltd for a cash consideration (including debt) of £81m. The acquisition is in line with Pennon Group’s (Viridor’s parent company) stated strategy of expanding its waste management activities, particularly in the areas of resource management, waste treatment and disposal.
Grosvenor is headquartered in Crayford, Kent and comprises the largest and most efficient Materials Recycling Facility (MRF) in Europe (at Crayford), a MRF operated on behalf of Peterborough City Council and associated industrial and commercial recyclate collection and recycling activities. It handles approximately 500,000 tonnes of material per annum.
Viridor has complimentary recycling, collection and disposal assets in the operating areas. The Crayford, Peterborough and collection operations will be integrated into Viridor Waste’s south eastern region. A new entity, Viridor Resource Management Ltd, will oversee all recyclate marketing for Viridor. The acquisition is expected to be earnings enhancing before amortisation of intangibles in the first full year.
Commenting on the acquisition, Mike Hellings, Managing Director of Viridor Waste Management said, “The UK’s waste strategies demand ever-increasing levels of recycling. Grosvenor has an excellent track record over recent years in leading the way in the recycling market. Their innovative and professional approach will fit very well with the Viridor culture, as demonstrated by their accreditations to quality, environmental management, and health and safety management systems. We look forward to welcoming and working with our new colleagues.
“This acquisition fits with Viridor’s strategy of expanding its materials recycling capacity, particularly where there are synergies with existing assets.”
Related categories: Environmental technology Companies Recyclable materials
