Quercus announces acquisition in the outsourced waste and recycling sector

Quercus Corporate Finance is delighted to announce the acquisition of Advanced Waste Solutions Limited by Reconomy (UK) Limited.

The Quercus team, led by Mark Whelan, advised Reconomy (UK) Limited (“Reconomy”), the UK’s largest outsourced waste management and recycling business, on its acquisition of Advanced Waste Solutions Limited (“AWS”), a provider of outsourced waste and recycling services, based in Ringwood, Dorset.

Financial details have not been disclosed.

AWS’s customer base is highly complementary to that of Reconomy, providing a great opportunity for customers, suppliers and staff of the combined businesses.

Mark Whelan, Quercus Partner said:

“I am delighted that we have successfully advised Reconomy on its acquisition of AWS.  Reconomy has been highly successful in growing its operational platform across the UK and AWS is a highly complementary addition to its growth strategy. We wish the combined team continued success in the future.”

Paul Cox, CEO of Reconomy, added:

“I am delighted with the assistance that Quercus provided to our team in developing our strategy and in helping us to focus on value enhancing opportunities as well as for their support throughout the acquisition of AWS.  Their sector knowledge, experience and transaction management skills made a real difference to us in this process.  We are extremely pleased to welcome AWS into our group and look forward to continuing to pursue our growth strategy in the UK.”

Quercus Corporate Finance announces transaction in the pension consulting sector

Quercus Corporate Finance is delighted to announce the sale of BBS Consultants & Actuaries to Broadstone Group.

The Quercus team, led by Andy Clegg, advised the Board of BBS Consultants & Actuaries Limited (“BBS”) on the sale of the Company to Broadstone Group (‘Broadstone”), the employee benefits and pensions consultancy specialist backed by mid-market Private Equity firm, Livingbridge.  The consideration was funded through a combination of additional funds from Livingbridge and debt facilities from Broadstone’s banking partners.

Headquartered in Bristol with a recently established South East presence, BBS is a highly respected specialist firm of workplace pensions consultants, actuaries, investment advisers and administrators providing a full suite of pensions advice and management solutions for trustees and employers.  Founded in 1997, BBS has grown to become one of, if not, the leading independent pensions consultancy in the South West, employing over 125 people with a broad client base ranging from local businesses to large, blue-chip organisations.

Broadstone is an acquisitive group having made four acquisitions since Livingbridge invested in 2016, with three of those acquisitions being in the past 12 months.  BBS represents Broadstone’s largest acquisition to date and provides them with significant additional scale and increased breadth of services as well as significant cross-selling opportunities across the enlarged client base.

Andrew Clegg, Partner at Quercus said:

“We have enjoyed working with the team on this important transaction in the fast consolidating pensions advisory market where we anticipate further M&A activity. BBS is a fantastic local business with an exceptional reputation for providing high quality advice and exemplary customer service. In Broadstone, BBS has found an acquirer that shares its ‘client-first’ culture and ethos and I look forward to seeing the enlarged group prosper in the coming years.”

James Stanfield, Chairman and founder-shareholder of BBS added:

“We are delighted that BBS has joined forces with Broadstone, a like-minded business with ambitious plans and we are confident that the business will thrive under its ownership.  The sale is the culmination of a two-year journey with Quercus who have guided us every step of the way.  They are a highly experienced relationship-driven team and the quality of the advice and service we received throughout was a significant factor in a successful Transaction. We are delighted with the outcome.”

Quercus Corporate Finance announces sale in the waste management sector

Quercus Corporate Finance is delighted to announce the sale of Raymond Brown Waste Solutions to Collard Group.

The Quercus team, led by Mark Whelan, advised Raymond Brown Group and Elysian Capital (owner of the Raymond Brown Group) on the sale of Raymond Brown Waste Solutions Limited to Collard Group Limited, a leading demolition and waste management business in the South East of England.

With operations across three sites in Oxfordshire and Hampshire, Raymond Brown Waste Solutions is a key regional business providing skip hire, grab hire and other waste management services in Hampshire, Berkshire, Wiltshire and Oxfordshire.

Collard Group provides similar services from sites across Hampshire, Berkshire and Surrey alongside demolition works, asbestos removal and groundworks.  The acquisition of Raymond Brown Waste Solutions provides a strategic geographic expansion for Collard Group, enabling them to consolidate and expand their reach in adjacent areas.

Mark Whelan, Partner at Quercus said:

“We are delighted to have supported Raymond Brown Group and Elysian Capital in the successful sale of the Group’s Waste Solutions Business.  This transaction is a great result for both Raymond Brown and Collard Group, providing Raymond Brown with the chance to focus on their target sectors and Collard Group with strategic expansion in both the services it offers and the area it serves.”

Don Coates, Chief Executive Officer of Raymond Brown Group added:

“Raymond Brown Waste Solutions has been a key part of the group’s overall development but will now have more opportunities for growth as part of a focussed waste business. The sale of Raymond Brown Waste Solutions is an important step for Raymond Brown Group to facilitate our focus and investment in our Quarry Products and Fortis IBA divisions both of which have had recent success in securing new reserves and contracts.  We are pleased with the outcome which Mark, Paul and the Quercus team have achieved, which meets our strategic goals while providing a solid future for the Waste Solutions business and its employees as part of the Collard Group.”

Robert Collard, Founder and Owner of Collard Group, said:

“The integration of Raymond Brown Waste Solutions’ facilities, fleet, equipment and people including the existing management team will enable us to achieve a seamless transition of service for existing customers.  The deal brings together two successful businesses and strong brands, giving us more capacity across a much bigger area and expanding the services available to Raymond Brown Waste Solutions’ existing customers.”

Terra Alliance announces new member firm in Canada

The Terra Alliance held its latest bi-annual international corporate finance meeting in New York last week hosted by the American consumer products and retail specialist member firm, Consensus (www.consensusadvisors.com).   The meeting represents the Terra Alliance’s 36th international corporate finance meeting following the most recent gathering in Madrid in April 2019.

Representatives of the Terra Alliance’s 16 member firms came together to discuss current and future opportunities for cross-border M&A and capital raisings. The member firms reported strong activity so far in 2019 as well as continued growth in cross-border deals involving members.

This year’s meeting was preceded by the 9th Annual Consensus Great Brands Show (www.greatbrandsshow.com) at the NY TimesCenter in Times Square, New York City.  This was the first time members of the Terra Alliance participated in The Great Brands Show, which featured 33 fast-growing consumer brands presenting and exhibiting to an audience of financial entities representing trillions of dollars of capital, major retailers and other significant consumer industry participants.

During the Terra Alliance meeting, it was announced that Origin Merchant Partners of Toronto, Canada would join The Terra Alliance with immediate effect.  Origin Merchant Partners is Canada’s largest independent investment bank.  They provide advisory services for mergers and acquisitions, corporate finance, recapitalization and restructuring as well as real estate investment and advisory in Canada.

The next Terra Alliance meeting will be held in the Spring of 2020 and will be hosted by member firm Raiffeisen Bank International, which is headquartered in Vienna, Austria with offices throughout Central and Eastern Europe, Russia, Turkey and Ukraine.