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Biffa acquires Weir Waste Services for £16.2m

Friday, 17th August 2018
Waste management company Biffa said Friday it had acquired Weir Waste Services, a provider of waste and recycling solutions for £16.2m.

For the year ending 31 May 2017, Weir Waste Services generated revenues of £16.1m, had reported earnings (EBITDA) of £2.2m, operating profit of £1.1m and gross assets of £14.5m, and had a workforce of about 120 people.

The acquisition is expected to strengthen Biffa's presence and customer offer in Birmingham and the Midlands.

'WWS is highly complementary to Biffa's existing business, combining a commercial collection business which serves c. 1,600 customers, and operates a frontline fleet of c. 45 vehicles and a substantial recycling and waste treatment operation from a seven-acre freehold site at a key location in Birmingham,' the company said.

Biffa also announced that it had agreed a further three acquisitions of H&A Recycling, Bisset Waste and Vecta Group in the current financial year for a total consideration plus debt taken on of £3.9m, adding annual revenue of about £4.9m.

'The Weir Waste business significantly strengthens our presence and customer offer in Birmingham and the Midlands while the other acquisitions further enhance our platform in their respective markets,' said Michael Topham, Chief Financial Officer and CEO.






Story provided by StockMarketWire.com

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