31 January 2014
Biffa wastes no time in acquisition of PHS Wastetech
Thames Valley based law firm, B P Collins LLP has advised Buckinghamshire-based waste and recycling company, Biffa Waste Services Limited, on its £2.5m acquisition of the commercial waste business known as PHS Wastetech carried on by PHS All Clear Limited.
The transaction follows Biffa’s recent acquisition of Shanks UK's solid waste business and will complement the organisation’s long-term strategy to grow its market share, to enhance services and realise profitable synergies.
The business of PHS Wastetech currently has a turnover of £25m and specialises in general dry waste services to a 12,000 strong customer base. The acquisition includes the transfer of four new operating locations and is expected to be completed at the end of February 2014.
The transaction team, made up of B P Collins LLP’s corporate and commercial, commercial property and employment teams was led by partner, Alex Zachary, who commented: “Biffa has a strong platform for growth due to its reputation and infrastructure and we’re thrilled to have helped the group further consolidate its position as a UK market leader in solid waste.”
Ian Wakelin, CEO of Biffa, said this acquisition "is another step forward in our strategy to grow market share and enhance our leading industrial and commercial services. We will swiftly integrate PHS Wastetech into Biffa’s national infrastructure and excellent customer service platform, further strengthening our position as the UK’s leading integrated waste management company.”
Jeff Anderson, MD of Industrial & Commercial at Biffa said: "We fully recognise the value B P Collins LLP brought to this transaction – there was excellent support and effort from all of the lawyers in the team which was instrumental to the success of this acquisition."