Family run recycling firm swallowed by Panda

Deals news is sponsored by Pannone Corporate

Advised on deals worth £300m in the first half of 2017

Cheshire-based WSR Recycling has been acquired by the largest waste management business in the Republic of Ireland, Panda Group.

Family-run WSR is based in Widnes and will generate revenues of £14m in 2017.

It provides a wide range of waste management services, including material recycling, treatment, logistics and disposal solutions to a wide range of business customers and local authorities across Greater Manchester and Cheshire.

Catalyst Corporate Finance, the UK arm of Alantra, advised WSR on the sale, the value of which has not been disclosed.

WSR’s founder and managing director, Nick Prescott, said: “From the beginning of our relationship with Catalyst, it was clear they had a deep understanding of, and experience in, our sector.

“Catalyst has helped us identify and then negotiate a great deal with Panda, a strategic partner that we know will successfully build on our growing business.”

This deal evidences a trend of increasing deal activity in the waste management sector, said Catalyst.

Brian McCabe, managing director at Panda, said: “We are very excited to acquire WSR and it is our intention to continue with what is already in place, and to build and develop this even further, ensuring the company continues to provide the quality of service that customers have been used to.

“This acquisition is part of our strategic growth plans for the UK.”