Ward sells part of business to waste management giant
Derbyshire waste and recycling firm Ward has sold part of its business to waste management giant Biffa.
Ward’s commercial compaction business has been offloaded, with saw a number of the firm’s drivers and customer support team join Biffa as part of the deal.
Ward is the largest independent metal and waste recycling company in the East Midlands, employing more than 400 people in the region and annually turning over in excess of £150m.
Ward says it will now concentrate on its core business of bulk metal and waste recycling
James Balfour, finance director at Ward said: “We were approached by Biffa regarding the acquisition of our compaction lorry business, including trucks, drivers and wheelie bins earlier in the year. The opportunity has come at the right time for us both as we look to focus on our core business of bulk metal and waste recycling and Biffa is now hoping to grow its compaction services in the East Midlands.”
“This sale provides the chance for our compaction drivers to join a growing national business, offering the chance for progression. Biffa has confirmed customers will receive the same level of service that they are used to and are unlikely to see much change at all once the changeover has taken place.”
The new arrangements will take effect immediately. Employees have been consulted on a one-to-one basis and customers have been contacted.
Jeff Anderson chief operating officer for Biffa’s Collections division said: “We are delighted to announce that our Collections division has completed the acquisition of Ward’s commercial compaction services. The business had pre-CV-19 run rate revenues of around £4m servicing over 1,400 customers. This acquisition is fully aligned with our growth and acquisition strategy and will be highly complementary to our existing East Midlands operations. Active negotiations continue on several other acquisition targets and the pipeline is progressing well.”
Flint Bishop advised Ward on the deal.
Martyn Brierley, head of Corporate & Finance at Flint Bishop said: “It was great to work with Ward on this disposal, which was completed in a challenging timetable and which presented a number of interesting and unusual aspects which we had to legally address to make the transaction work for both parties. This disposal allows Ward to focus on its core bulk metal and waste recycling business, and deliver further value and excellence to its customers, existing and new.”