Viridor has bought Somerset-based materials recycling company Martock Waste Paper for £7.4m on a debt-free basis.
The acquisition will see Viridor take over Martock’s recycling facility in Somerset and associated collection activities. It handles around 50,000 tonnes of paper and other recycled material each year.
It follows a series of recent acquisitions by Viridor following its parent company’s strategy of expanding waste management activities, particularly in the recycling sector. In November last year Viridor bought the dry waste division of Pearsons Environmental, in December it acquired materials recycling firm Adapt Recycling and in January it took on another waste management firm, Swinnerton Environmental.
Viridor chief executive Colin Drummond said: “This acquisition has an excellent geographic and business fit with our existing operations in the south-west, and provides additional volumes for our UK and international recyclates trading arm, Viridor Resource Management.
“The UK’s waste strategies demand ever-increasing levels of recycling while the world has an increasing demand for raw materials including recyclate. Recycling is an important and fast-growing part of Viridor’s business and accounted for more than a quarter of the company’s profits in the first half of 2010/11.
Photo: (l-r) Richard Bowers, Sharon Bowers & Howard Ellard (Technical Development Manager- Viridor); Nick Bowers & Graham Warren (Regional Director- Viridor)