Green Buy-Out For Devon Business
Devon-based Environmental Intelligence Limited, which specialises in consultancy activities related to the WEEE Regulations for the recycling and disposal of electrical and electronic items, has made a significant investment by buying M Baker Recycling Limited.
The deal, which included the purchase of the M Baker Recycling specialist electronics recycling plant in St. Helens, Merseyside, involved local professionals including Francis Clark, Foot Anstey, Bishop Fleming, Barclays Bank and Burgess Salmon.
M Baker Recycling develops services to local authorities, waste management companies and other organisations, for the collection and treatment of waste electrical and electronic equipment (WEEE).
The business is in an ideal position to respond to the ever-changing demands of recycling and waste legislation. It is one of the leaders in the WEEE recycling industry and actively participates in a number of stakeholder groups with the DTI, DEFRA, the Environment Agency and the Industry Council for Electronic Equipment Recycling and the European Electronics Recycling Association.
M Baker Recycling is fully licensed to accept all 10 WEEE categories, and the next stage in its expansion is to develop further their recycling systems for the treatment of non hazardous electronic waste to complement their existing manual processes and their fridge and television and PC monitor dismantling lines at the Merseyside plant.
The business was bought by Devon-based Environmental Intelligence Limited, whose directors Andy Slaney and Julie-Ann Adams were involved in the setting up and operational management of M Baker Recycling since its inception in 2001.
Andy Slaney said: “We are confident that with the investment this deal has secured, the huge potential of M Baker Recycling in the WEEE recycling market can now be realised. The company already has great management combined with a proven track record and exemplary environmental accreditations, and we are looking forward to working with all the existing team as we seek to expand services and gain improved knowledge of the WEEE make up and return-to-life potential.”
Julie-Ann Adams commented: “The business has an excellent reputation with its clients and stakeholder partners and has worked hard from a scratch start in 2001 to become one of the leading WEEE facility providers in the UK, Republic of Ireland, the Isle of Man and, recently, Jersey. This transaction is a natural progression and one that Andy and I are very excited about.”
Mark Greaves, corporate partner from Francis Clark which provided financial, financial due diligence and tax advice on the deal, commented: “The WEEE Directive has created a vibrant and lucrative market, and one in which M Baker Recycling is a leading player. We were delighted to be able to provide professional support which saw this deal to fruition, and we wish Andy and Julie-Ann well with what will be a successful venture in a growing and developing market.”
Edmund Probert, partner at South West law firm Foot Anstey added: “We are thrilled to have helped the M Baker group from its initial start up of M Baker Recycling, the installation of its first plant, and the subsequent sale of this company. Julie-Ann and Andy are true leaders in this field and we hope our legal advice on their company matters, website, employment and software contracts has made a contribution to their well-deserved achievement. We wish them every success for the future.”
Andrew Hawkes, Corporate Finance Director at Bishop Fleming which provided transactional advice to the vendor throughout the deal process, said: “We have been working with M Baker Recycling since it began operations in 2001. It is great to see Andy and Julie-Ann take over the company at what is a very exciting step-change for the business. The company could not be in better hands.”
Published 22/05/2007
