Andy Ollie said this week that the company, which recycles a wide variety of materials for Somerset County Council, would carry on with new owners.
The West Country authority confirmed that it had appointed accountancy firm Deloitte Touche to advise it on the sale of Taunton-based Wyvern.
Somerset assistant director of finance Tim Richens added: We are looking at a range of options for the sale and also considering the long-term delivery of our municipal waste strategy.
Ollie told MRW: The shareholders have announced their intentions to sell us as a going concern. The share ownership will change but we are telling our customers it is business as usual.
Somerset County Council this month announced plans to use Wyvern to recycle kitchen scraps, including meat, to be collected from 150,000 homes in a scheme due to be launched in October.