Biffa unveils string of acquisitions
The waste management firm is looking to expand its capabilities in Birmingham.
Waste specialist Biffa has announced a £16.2 million purchase of Weir Waste Services, a provider of waste and recycling in Birmingham and the West Midlands, alongside a host of other acquisitions.
Biffa is funding the acquisition of Weir Waste from its existing cash and debt facilities, and plans to incorporate the business into its industrial and commercial division.
Biffa said the takeover of Weir Waste, which has around 1,600 customers and a fleet of 45 vehicles, will allow it to increase its footprint in Birmingham, where Weir Waste has a recycling and waste treatment site spanning seven acres.
In addition to Weir Waste, Biffa also announced on Friday that it had a agreed three other acquisitions for a total £3.9 million.
The takeover of H&A Recycling Limited, a waste business in Cornwall; Bisset Waste Management Limited in Scotland; and parts of Vecta Group Limited in east London will add just under £5 million to Biffa’s yearly revenues.
The Weir Waste business significantly strengthens our presence and customer offer in Birmingham and the Midlands Biffa finance chief Michael Topham
Michael Topham, chief financial officer at Biffa, said: “The acquisitions we have announced today demonstrate our ongoing ability to identify and execute value-accretive acquisitions across the UK.
“The Weir Waste business significantly strengthens our presence and customer offer in Birmingham and the Midlands while other acquisitions further enhance our platform in their respective markets.”
James Beard, analyst at Numis, said the acquisitions were in line with Biffa’s plans to consolidate the market in the UK.
Mr Beard said Biffa still had the funds to make more acquisitions as the year progressed.