Acquisition creates £90m metal firm
Derbyshire-based metal traders KJB Consulting (Global) has bought metal recycling firm Peterborough Metals Recycling, which trades as BW Riddle.
The deal will see Barlborough-based KJB Consulting’s workforce grow from 15 to 70 strong with the addition of 55 employees from Lincolnshire-based BW Riddle, which was formed in 1956, and increase turnover from £25m to £90m.
Chief executive of KJB Consulting, James Bowers, said: “We’re absolutely delighted to announce we have acquired BW Riddle and believe this places our business in a strong position to continue our ambitious growth targets.
“It has been an exciting process working with our advisors to make this acquisition possible and I’d like to thank everyone involved. The team at BW Riddle are ultimate professionals – we’re very much looking forward to welcoming them into the KJB Consulting family.”
KJB will also take over the running of BW Riddle’s head office and 32-acre site in Bourne, Lincolnshire, and its other three metal recycling sites at Peterborough in Cambridgeshire, Boston in Lincolnshire and Corby in Northamptonshire.
Tom Bird, current president of the Bureau of International Recycling, who has also held several senior positions at major recycling firms, will be KJB Consulting’s new executive chairman.
Bowers said: “As a broker we’d probably hit a ceiling in terms of how much bigger we could get and the services we could offer clients, so purchasing a firm that enables us to now have three yards takes us to the next level. Having Tom on board is a brilliant addition to our team.
“BW Riddle is a family business with 60 plus years of trading, good yard locations, strong infrastructure and a fantastic reputation, not only locally, but across the UK. Our message to existing customers and staff is that it is business as usual and we look forward to working with you.”
Lexington Corporate Finance advised on the deal alongside fellow Cardiff based firm Capital Law. Harwood Private Capital provided financial support and advice.
