Tue, 18 Sep 2018 | MBO/MBI
A West Midlands and North East waste management firm and Yorkshire-based industrial site have completed a management buyout (MBO) for an unknown sum.
Headquartered in Knottingley, Acumen Waste Services and its parent company Waste Services Group underwent the MBO along with all its divisions. The deal had the support of professional advisers from Yorkshire, which resulted in successfully creating a new company called Acumen Group Holdings.
The group was established in 1994, and presently has offices in York, Immingham, Stockton-on-Tees, Wolverhampton and Keighley.
Acumen’s executive board members Leon Kirk, Andy Crossley and Kris Sutton, and chairman Jon Morris are expected to takeover full control of the company, with Morris taking on the role of non-executive chairman.
Morris stated: “This MBO represents the next phase in the growth of the Acumen business. The MBO team has worked together for over five years, during which time we have delivered significant sustainable growth.
“This has included the acquisition and successful integration of Highspeed Group in West Yorkshire, and establishing our facilities in North Yorkshire such as our waste treatment and recovery park at Escrick, and, more recently, our liquid waste treatment facility at Rufforth.”
The MBO has allowed longstanding shareholders Mark Tankard and Ian Wray to follow through with their planned retirement.
Upon celebrating its 25th anniversary, Acumen has grown to become one of the most prominent companies in the waste management industry, having achieved incredible growth figures and diversification.
Park Place Corporate Finance’s partner Ben Peacock said: “It’s a credit to the retiring shareholders and the ongoing management team that they have put the building blocks in place over a number of years to enable a smooth and successful transition of the business.”
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