Hazardous waste specialst sold

WASTE management firm Solvent Resource Management has been sold to trade buyer Tradebe for an undisclosed sum.

The deal has allowed Tradebe to consolidate its position as one of the major hazardous waste management firms in the country, giving the combined business a turnover of £75m. Last year, Solvent Resource Management made a pre-tax profit of £1.9m on turnover of over £35m.

Solvent Resource Management is based in Clitheroe while Spanish firm Tradebe has its UK headquarters in Ellesmere Port. It was advised on the deal by law firm Pannone and accountants Grant Thornton.

Philip Treanor, head of corporate finance at Pannone said: “Tradebe is a long standing client and we are delighted to advise the company on this latest deal which cements its position as the UK’s leader in the hazardous waste management sector.”

Alex Gazulla, CEO of Tradebe UK, said: “Our impressive growth in the UK means we now operate across 18 different sites employing 540 staff nationally.

“The SRM business perfectly complements Tradebe’s existing operations both in the range of services we can offer our customers plus an enhanced geographic reach. We have truly become a one stop shop for our customers. We look forward to some exciting times ahead in this key market for us.”

Tradebe was supported in the acquisition by HSBC’s North West Corporate Banking  team based in Manchester, which provided facilities worth £26m.

Alan Rigby, HSBC’s head of corporate banking in the North West, said: “This deal is an excellent example of the added value that HSBC can offer businesses through its international footprint and strong relationship management model.

” By working closely with our HSBC colleagues in Spain, we have been able to devise tailored support for Tradebe in the UK that will help the business consolidate its position as a leader in a sector that is growing in prominence and importance.”