An award-winning Teesside company has been snapped up in an undisclosed deal by a Cheltenham business.
Waste management leader J&B Recycling, which is the reigning Teesside Company of the Year, has been acquired by Urbaser Ltd, an environmental services company.
The Hartlepool company – which employs around 200 people around the North East – is run by entrepreneur Vikki Jackson-Smith, who established the recycling business in 2000 to diversify from the solid fuels business that her father Alan Jackson had originally established in the 1970s.
It now boasts a significant portfolio of local authority contracts as well as over 1,600 trade contracts servicing nearly 700 commercial customers within the region.
Urbaser said the acquisition of J&B Recycling provides it with a network of four materials recycling and processing facilities, managing over 180,000 tonnes per annum. Forecasted revenue for the year ended 31 March 2021 was approximately £20m.
The deal also marks an exit for investors Business Growth Fund, which provided J&B Recycling with £7.5m of growth capital in December 2014, long-term funding to help it develop an additional recycling facility in Middlesbrough for treating commercial waste, as well supporting further expansion at existing facilities.
Ms Jackson-Smith, chief executive officer of J&B Recycling, said: “When it came to looking for a partner that could support the business in our next chapter, Urbaser Ltd ticked all of the boxes.
“This deal will allow us to continue our growth within an organisation with shared values and goals. It will also provide the enhanced support for our team and customers that comes with being part of a company of Urbaser’s scale and calibre.”
Urbaser Ltd has been delivering environmental services across the world since 1990. Its parent company is the third largest environmental services provider in Europe, and also operates in the US, Asia, North Africa and South America. In the UK, Urbaser Ltd currently provides environmental services to 14 local authorities and 4.5m people.
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The deal follows the acquisition of five waste management contracts from Amey which was announced earlier in 2021.
Javier Peiro, managing director of Urbaser Ltd, said: “The acquisition of such an experienced and well-established operation within the North East represents a significant step in our ambition for growth within the UK marketplace.
“We are excited to welcome nearly 200 new employees to the Urbaser Ltd family. We look forward to building on the success of J&B Recycling within the region and continuing to deliver exemplary levels of service to the significant network of local authority and commercial and industrial customers.
“We have a strong history in the collection and processing of recyclable and municipal waste across the UK and internationally, and we are very pleased to be building on our existing presence in the North of England.”