Thu, 29 Mar 2012 | BUSINESS SALE
Waste management firm Biffa has been placed on the market by its private equity owners, due to a fall in waste levels during the recession and its £1 billion debts.
Its owners, Montagu Private Equity and Global Infrastructure Partners, are also believed to be considering selling the business very cheaply in exchange for a share in a future merger synergy.
Based in High Wycombe, Biffa has a 6,300-strong workforce, and reported revenues of £850 million for the year ending March 2012. Its client base includes J Sainsbury and local councils. Biffa is also shouldering gross debts of £1 billion and is due a covenant test in June.
The waste management industry has been affected by a decline in consumer spending, which has brought waste volumes down, and the effects of tax hikes for firms still relying on landfill have also reduced demand.
An increased focus towards recycling has pushed waste management firms to adapt. Biffa, however, is still reliant on industrial waste and some industry experts have said they believe it has not moved over to recycling fast enough, despite having purchased recycling firm Greenstar in 2010 to boost its own recycling services.
Biffa’s rivals are considered to be highly likely to look into a takeover, and include Veolia, Pennon, Waste Recycling Group and Sita.
Recognised as a leader in the material handling sector, this esteemed company specialises in delivering custom solutions tailored to the rigorous demands of the pharmaceutical, food, and chemical industries. With a proven track record of serving high...
In the dynamic world of multisite plumbing, heating, and electrical merchants and wholesalers, my Client is a paragon of excellence and innovation. Comprising separate divisions, this conglomerate has revolutionised the industry and set new benchmark...
A distinguished name in the scaffolding industry, boasting over 35 years of unwavering commitment to excellence. With a formidable portfolio that spans decades, the company has cemented its reputation as a reliable and professional scaffolding provid...
Please choose your settings for this site below. For more information please read our Cookie Policy
These cookies are necessary for our website to function properly and provide you with access to all features.
These are analytics cookies that help us to improve the way our website works.
These are used to improve the functional performance of the website and make it easier for you to use.