Augean a company set up specifically to acquire underperforming UK waste businesses made its first purchases when it bought Atlantic Waste Holdings and Zero Waste for £106 million including debt.
This means it now owns two out of the eight operating hazardous waste landfill sites in the UK, after legislative changes introduced in July reduced the amount of sites from 240.
Augean chief executive John Huntington said: The fact that [Atlantic Waste and Zero Waste] are dealing with hazardous waste means that we are buying into a niche industry, since the regulations were introduced in July. There are three million tonnes of hazardous waste looking for a home in the UK and only one million tonnes of space for it.
Now that we have two of the eight sites, we believe we can offer competitive pricing in this market.
Huntington added that the company had no plans at present to purchase more companies, but would consolidate its position in the sector. However, he added that after six months of operating these companies, it may look at other areas such as pretreatment.