Future Industrial Services Limited (‘FIS’), a leading provider of hazardous waste management and specialist industrial service,s has been sold to specialist waste and resource management group, Augean Limited.
Headquartered in Kirkby with sites in Berwick, Hull, Rugby, Honiton and Plymouth, FIS works with clients across government, major utilities and national & multi-national companies to provide a range of specialised and cost-effective hazardous waste and industrial services.
Since acquiring the business in April 2017 in a Northedge Capital backed Management Buy-Out, CEO David Lusher and his team have developed FIS into one of the leading independent providers of hazardous waste services in the UK, dealing with a variety of complex waste streams across its five permitted processing, treatment and recovery sites which includes the UK’s only Mercury recovery facility. Alongside this hazardous waste offering, FIS has established a specialist industrial services business with a market-leading position in Energy from Waste (‘EfW’) plant maintenance and cleaning.
FIS is highly complementary to Augean’s existing hazardous waste operations but also provides the ability to leverage FIS’s portfolio of industrial services into Augean’s customers within the Energy, Nuclear, Construction and Oil & Gas markets.
A team from Quercus Corporate Finance led by Mark Whelan and Neil Giles advised the shareholders of FIS.
Mark Whelan, Partner at Quercus said:
“On the back of continued UK investment in Energy from Waste plants, FIS has established itself as the leading independent supplier of critical EfW maintenance services in the UK. This, coupled with its broader suite of industrial services and its comprehensive hazardous waste collection, treatment and recovery capabilities, made this a compelling acquisition opportunity for Augean. There are significant operational opportunities across the two businesses, with each bringing unique capabilities to the table which will deliver an enhanced service offering for customers going forward. We are absolutely delighted to have worked with David Lusher and his exceptional management team”.