Thu, 25 Nov 2021 | BUSINESS NEWS
Waste management services firm UK Waste Solutions has said it will target acquisition-led growth after securing financing from Santander UK. The company operates through two main brands, Novati and Click Waste, arranging the collection of around 154,000 tonnes of non-hazardous waste from approximately 6,000 customers last year.
The company has now secured a multi-million-pound revolving credit facility from Santander UK, which it will use in support of its plans to grow sales from £60 million to £100 million by 2024. The firm plans to achieve this largely via acquisitions, saying it will look to acquire “several complimentary businesses over the next five years”.
UK Waste Solutions has made four acquisitions in the waste management space over the past three years. The most recent acquisition, completed in October 2021, saw the company take over AMA Waste Management, which it projected would add £15 million in annual revenue.
UK Waste Solutions’ Managing Director Max Kanda commented: "As a business, both organic and acquisitional growth have delivered us very strong results over the past five years.”
"To achieve our targets, including the acquisition of AMA Waste Management, Santander UK has provided us with the support we needed in the form of a revolving credit facility that enables us to continue along our growth projections."
Santander UK Relationship Director Martin Brummitt said: "UK Waste Solutions Ltd is a high-growth and acquisitive business with an exciting future ahead."
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