The acquisition is part of Biffa’s investment strategy to expand I&C operations and create low-carbon collection operations
UK-based waste management company Biffa has expanded its business with the acquisition of Simply Waste Solutions.
As part of the deal, Biffa has purchased complete share capital of Camo, which trades under the Simply Waste brand, for an upfront debt and cash-free consideration of £35m.
Simply Waste is a major industrial and commercial (I&C) waste collection business in the south of England.
The company’s operations include general waste collections, dry mixed recycling, glass waste recycling, food waste recycling, wheelie bin collections, bin cleaning service, coffee cup recycling, mixed load collection service and national waste solutions.
The acquisition is part of Biffa’s investment strategy to expand I&C operations and create low-carbon collection operations.
Simply Waste’s operational locations to align with Biffa’s existing portfolio
The operational locations of Simply Waste in west London, Oxfordshire and Bristol are said to be aligned with Biffa’s existing portfolio. After integration into the Biffa I&C collection network, the acquired location will help better serve customers and reduce carbon emissions.
Biffa chief executive Michael Topham said: “The acquisition of Simply Waste demonstrates further progress against our strategic plans. We have a clear focus to grow our Industrial and Commercial business through acquisitions as a natural consolidator within this fragmented market.”
As of 31 March this year, Simply Waste generated revenues of £32m, earnings before interest, taxes, depreciation, and amortisation (EBITDA) of £5.2m, operating profit of £3.1m and gross assets of £16.4m.
Simply Waste majority owner and chief executive James Capel said: “Simply Waste is a fast-growing and innovative business with its people and customers at the heart of everything it does. I am delighted that the acquisition of Simply Waste by Biffa will build on these values and that the combined business will help deliver an even stronger and more efficient business.”
In September this year, Biffa acquired a compaction services business from Derbyshire-based metal and waste recycling specialist Ward for an undisclosed sum.