Agilitas, a pan-European mid-market private equity firm, today announces the acquisition of a further waste transfer station and processing facility by its waste management portfolio company, Impetus Waste Management Limited (‘Impetus’) in the North East of England. The consideration for the acquisition of T Shea Limited, based in Leeds, is not being disclosed.
Impetus is one of the largest waste management companies in the North East of England. Following the investment by Agilitas in December 2013, the company has built Europe’s largest commercial and industrial waste processing facility at its site in Teesside. The facility has capacity to process over 500,000 tonnes per annum of commercial, industrial and municipal waste, which is received through the company’s network of transfer stations. The Group also operates hazardous and non-hazardous landfill sites at Cowpen Bewley and Teesport, and a composting facility at Cowpen. Today’s acquisition of T Shea Limited in Leeds will increase annual throughput volumes for Impetus to around 1.25 million tonnes per annum.
The North Tees facility processes residual waste in such a way to maximise recyclate returns and minimise material going to landfill, with the balance of waste being manufactured into Refuse-Derived Fuel (‘RDF’).
Impetus will supply its RDF to Air Products Limited who are building two advanced plasma gasification Waste to Energy plants alongside the Impetus site at North Tees. The partnership with Air Products will enable previously landfilled waste to be converted into RDF, and create renewable energy for some 50,000 homes in the North East.
Commenting on today’s announcement, Malcolm Ward, Chief Executive of Impetus, said: “This acquisition provides a significant increase in volume for the Group’s waste transfer station network and provides an important expansion of Impetus’s geographical footprint. That means that Impetus is extremely well positioned to help drive the move from landfill to sustainable solutions for waste for commercial businesses, as well as local authorities.”
Martin Calderbank, Partner at Agilitas and board member at Impetus, added: “Performance at Impetus has been robust since Agilitas backed the buyout and we are delighted to support such an entrepreneurial team.”
Agilitas Partner and Impetus board member Torbjorn Midsem commented: “Since our investment, the management team have done a great job developing the business and completing this acquisition in Leeds is a very positive next step in the story.”
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