West Yorkshire waste business Acumen Waste Services and its parent company Waste Services Group have been bought out by management.
The buy-out was for an undisclosed sum and the new company will be known as Acumen Group Holdings.
Acumen was founded in 1994, and started off in the hazardous and difficult solid and liquid waste market, but has developed its service offering across the entire waste management arena.
It has grown organically and through acquisition, and now has offices and waste facilities in Keighley, York, Stockton on Tees, Immingham and Wolverhampton.
Executive board members Leon Kirk, Andy Crossley and Kris Sutton, took control of the company on 12 September along with former chair Jon Morris, who now becomes non-executive chair.
Morris said: “The management buy-out team has worked together for five years, during which time we have delivered significant and sustainable growth.”
He said this included the acquisition and integration of Highspeed Group in West Yorkshire, and establishing facilities in North Yorkshire including the waste treatment and recovery park at Escrick and liquid waste treatment facility at Rufforth.
The deal allows the planned retirement of long-standing shareholders Ian Wray and Mark Tankard. Tony Brittain will also retired from the board but continue in a senior role in the Acumen business.
The buy-out was funded by Barclays, Lombard Asset Finance and through private investment.