Quercus are delighted to announce the sale of Camo Limited which trades under the Simply Waste brand to Biffa plc for an upfront debt and cash free consideration of £35m.

Potential further consideration of up to £5m may become payable, depending on future performance. Quercus was the sole corporate finance adviser to Simply Waste on the sale and the team was led by Mark Whelan.

Headquartered in High Wycombe, Simply Waste is the leading provider of recycling and waste management services in London and the South East of England. Founded in 2006 by James and Natalie Capel the business has a major operational footprint with its main site located close to Heathrow Airport providing unparalleled access to the buoyant London market, as well as the Home Counties and has regional depots spanning the South of England.

Quercus has been working closely with James and Natalie since 2019 to help formulate an exit strategy including preparing the business for sale.  We marketed Simply Waste to a select audience and advised on all aspects of the transaction from deal strategy and preparation through to marketing and finally negotiation of pricing and deal structure. A key part of our role was dealing with the challenges presented by Covid-19 and ensuring that the transaction remained on track during Lockdown.

Mark Whelan commented:

“We are delighted to have successfully helped James and Natalie to sell the business they originally founded some 14 years ago. There is a strong fit between the two businesses and Simply Waste is complementary to Biffa’s existing footprint across the south of England.  More broadly this is an important transaction following the difficulties of lockdown and demonstrates the potential for M&A in the rapidly consolidating waste sector.”

James Capel, Simply Waste Solutions founder added:

“We are pleased to have benefited from the wise counsel and waste sector expertise of the Quercus team. They are highly experienced relationship-driven advisers and the quality of the advice and service we received was exceptional. It has not been easy to transact given the restrictions imposed by Covid-19 but Quercus really delivered for the shareholders and we are delighted with the outcome.”

Quercus Corporate Finance LLP is delighted to announce that it has been shortlisted three times in the 2020 Thames Valley Deal Awards:

Nick Standen, Chairman of Quercus, commented:

“2019 was an incredibly successful year for the team and these latest nominations are much valued. We have entered 2020 with real momentum and I am delighted that the community continues to recognise the quality of our people and our deals".

Quercus Corporate Finance announces the sale of MARCO to Canadian listed corporation, ATS Automation.

The Quercus team advised the Board of MARCO Limited (“MARCO”) on the sale of the Company and its subsidiaries to ATS Automation Tooling Systems Inc. (‘ATS Automation”), the Toronto Stock Exchange listed provider of innovative, custom designed, built, and installed manufacturing solutions.

Headquartered in Edenbridge, Kent with a manufacturing facility in Warminster, Wiltshire and a software development office in Leicester, MARCO specialises in the design, manufacture and commissioning of integrated, productivity improvement solutions primarily for the fresh produce and food industry. MARCO’s systems allow efficient measuring, monitoring and controlling of a client’s entire operation; improving operator efficiency and productivity through minimising overpack/giveaway and enhanced operator accountability, whilst at the same time reducing waste and providing full traceability throughout the whole production process.

Founded in 1985 by brothers Murray and Russel Hilborne, MARCO now employs around 70 staff across its three sites and has built an enviable portfolio of customers across a broad range of end-market segments.

ATS Automation uses its industry-leading knowledge and global capabilities to serve the sophisticated automation systems' needs of multinational customers in industries such as life sciences, computer/electronics, energy, transportation and consumer products.  The Group employs approximately 4,400 people at 23 manufacturing facilities and over 50 offices across North America, Europe and Asia.

Bringing MARCO into the ATS Automation Group will further enhance ATS’s technology offering in the fresh produce, food and pharmaceuticals segments whilst also providing MARCO with access to ATS’s global network to drive additional revenue growth.

Murray Hilborne, CEO and Co-founder of MARCO commented:

“Russel and I are genuinely excited by the future potential for MARCO as part of the ATS Group.  This transaction is the culmination of a thorough process to find the best partner for MARCO that will enable us to fully capitalise on the significant opportunities available.  The quality of the advice and support from Quercus has been first class from start to finish and was a critical aspect in delivering a successful outcome.”

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 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.”

Quercus Corporate Finance is delighted to announce the sale of HTC Group Limited to MCI Health Investments Limited.

Quercus advised the Board of HTC Group Limited, on the sale of the award winning specialist health and sport supplements business to MCI Health Investments Limited.

Headquartered in Watford, Hertfordshire and with operations in China, HTC is the UK’s premium bulk health supplements and sports nutrition supplier to both the High Street and on-line retailers.

MCI Health Investments Limited is the investment vehicle of a serial entrepreneur.

Berenice Drury, shareholder and Chief Financial Officer said:

“When the family were approached with regard to the possibility of selling HTC, we needed an advisory firm that was dedicated to, and had a wealth of experience of, helping owner managers like ourselves sell their businesses. Quercus were recommended to us by our auditors and we are delighted that we chose them for this very important role.”

 

 

Quercus Corporate Finance is delighted to announce the acquisition of Alpha Utilities Limited by Devon Contract Waste Limited.

The Quercus team, led by Mark Whelan, advised Devon Contract Waste Limited (“DCW”), one of the leading independent waste management business in the South West, on its acquisition of Alpha Utilities Limited (trading as Alpha Logic) (“Alpha”), a provider of waste and recycling services across Devon and Cornwall.

Financial details have not been disclosed.

There are significant synergies available through combining the two businesses andAlpha’s customer base is highly complementary to that of DCW, providing a great opportunity for the combined businesses in the market place.  The enlarged business will also offer greater opportunities for the management and staff in both businesses.

Mark Whelan, Quercus Partner said:

“I am delighted that we have successfully advised DCW on its acquisition of Alpha.  There is a strong strategic rationale for the acquisition and an excellent operational and cultural fit, creating a substantial independent waste management and recycling business in the South West of England. We wish the combined team every success in the future.”

Simon Almond, CEO of DCW, added:

“I am very grateful to Quercus for their support through the acquisition process – their sector knowledge, experience and insights made a real difference.  We are extremely pleased to welcome Alpha into the group and look forward to continuing to expand our offering across the South West.”

Quercus Corporate Finance is delighted to announce the sale of SWRnewstar to Biffa plc.

The Quercus team, led by Mark Whelan, advised the Board of Specialist Waste Recycling Group Limited trading as SWRnewstar, on the sale of the business tothe UK’s leading integrated waste management company, Biffa plc (“Biffa”) for c.£26m plus surplus cash.  The consideration was funded from Biffa’s existing cash and debt facilities.

Headquartered in Alton, Hampshire with further offices in Edinburgh, Daventry and Buckingham and operations at Bristol and Edinburgh Airports, SWRnewstar is one of the UK’s largest outsourced waste management companies, providing its broad customer base with flexible and innovative solutions to improve waste segregation, reduce costs and help them build a better environmental plan.

Biffa is an established sub-contractor to SWRnewstar, servicing around 11% of SWRNewstar’s customers’ requirements. The acquisition provides Biffa with the opportunity to increase the proportion of work serviced by its collection and processing network, as well as expanding routes to market.

Mark Whelan, Partner at Quercus said:

“Having started out with a single customer in 2007, SWRnewstar has, on the back of strong organic growth and focused, strategic acquisitions, established itself as a major player in the outsourced waste management sector.  It has now reached a scale where it was a logical step for Biffa to acquire the business enabling it to benefit from SWRnewstar’s innovative approach to waste and recycling services and supply chain management.”

Angus MacDonald, Chairman and founder of SWRnewstar added:

“When I made the decision to sell SWRnewstar, I was keen to have a very targeted marketing process focused on those organisations who would provide real strategic benefit to SWRnewstar.  I chose Quercus because of their sector knowledge and the strength and depth of their relationships with key individuals at the potential buyers.”

Michael Topham, Chief Executive Officer of Biffa, said:

“The acquisition of SWRnewstar represents a compelling opportunity for Biffa and provides further evidence of our ability to identify and execute cash flow enhancing and earnings accretive acquisitions. Bringing together SWRnewstar with Biffa’s leading Industrial & Commercial business will strengthen our offering while enabling us to profitably leverage our national network. We welcome the staff and customers of SWRnewstar to Biffa.”

Quercus Corporate Finance is delighted to announce the sale of Weir Waste Services Limited to Biffa Plc.

The Quercus team, led by Mark Whelan, advised the shareholders of Weir Waste Services Limited (“WWS”), one of the largest independently-owned commercial recycling and waste management businesses in the West Midlands, on the sale of the company to Biffa Plc, a leading, UK-listed, integrated waste management company, for a consideration plus debt taken on of c.£16.2m.

Founded in 1995 by Daniel Weir, WWS provides total waste management solutions for the assessment, collection, recycling and disposal of commercial waste. WWS has focused on investing in the latest automated sorting technology to deliver increasing recycling, recovery and purity rates, delivered through continued investment over the years including the construction of a state-of-the-art materials recycling facility at Oldbury, near Birmingham.

Mark Whelan, Quercus Partner said:

“I am delighted that we have successfully advised the shareholders of WWS on the sale of the business to Biffa. Having built a close relationship with WWS over many years and having seen the business develop, it is great to have delivered a successful outcome for the shareholders.”

Daniel Weir, Founder of WWS, added:

“I am very grateful for Quercus’ support throughout the sale process.  The Quercus team provided the right level of hands-on advice and expertise, combined with excellent industry relationships and contacts, which ultimately played a big part in achieving a successful result.  Their tenacity, coupled with a relentless focus on producing a good result, made a real difference.”

The Quercus team, led by Mark Whelan, advised Renewi UK Service Ltd, the UK division of LSE-listed international waste-to-product group, Renewi plc, on the sale of the Westcott Park facility to Olleco, one of the UK’s largest collectors and processors of food waste and waste cooking oils.

Financial details have not been disclosed.

The Westcott Park AD facility, located near Aylesbury in Buckinghamshire, is one of the most modern in the UK, and is capable of processing up to 48,000 tonnes of food waste per annum and turning that into electricity which is then sold into the National Grid, with the solid residual material used as a bio fertilizer in agriculture. The facility receives both pre-and post-consumer food waste from local authorities and commercial customers.

The facility was considered to be a non-core part of Renewi UK Service Ltd's business, which is primarily focused on large municipal waste processing and recycling contracts. Quercus therefore undertook a focussed sale process for Renewi, identifying Olleco as a counterparty with the right credentials to ensure a seamless takeover of the facility from the perspective of customers, suppliers and employees.

Mark Whelan, Quercus Partner said:

“We are delighted to have advised Renewi on the sale of the Westcott Park facility, and having worked with the Renewi team on other transactions in the past, it is great to have found the right future owner for the facility in Olleco, where the facility complements their existing operations well."

Neil Miles, Renewi UK Finance Director added:

"The Quercus team provided the right level of hands on advice and expertise, combined with excellent industry relationships and contacts.  The project ran smoothly and delivered against tight timescales - overall a great outcome.”