Cheshire waste management firm swallowed in Belgian buyout
A Middlewich waste management firm has been acquired, for an undisclosed sum, by European player, Indaver.
BIP Chemical Holdings, including BIP Organics and Centec International, and BIP Environmental provide an end-to-end provision for hazardous waste, and recycling solvents for clients in the chemical and pharmaceutical industries. Clients include Shell, Certas Energy, Veolia and DuPont.
Chairman and sole shareholder, Mike Bennett, formed BIP Chemical Holdings in 2006 and BIP Environmental in 2012.
The business employs 75 people, mainly chemical engineers, process engineers and senior operators.
Turnover in the current financial year exceeds £12m.
Belgium-based Indaver has facilities and operations in more than 30 locations including Belgium, Germany, Ireland, UK, the Netherlands, France, Italy, Spain and Portugal.
The Indaver Group manages five million tonnes of waste every year and employs 1,900 people.
North west law firm, SAS Daniels, advised Mr Bennett on the sale. Paul Tyrer, partner in the corporate group at SAS Daniels, said: “BIP is recognised as a market leader in its specialist field. Indaver was the right fit from the start and the acquisition provides the buyer with a platform to serve its industrial customers in the UK even better.”
Prior to setting up BIP Chemical Holdings, Bennett was a chemical trader in recycled solvents for more than 20 years. He said: “After building up BIP over more than 20 years, it was essential that we found the right business with the right ethos to move it forward.
“Indaver brings unrivalled expertise and has plans to further invest in the site. I’m confident that I’m leaving the business in safe hands. The acquisition is great news for our customers and our extremely talented team.”
The legal team at SAS Daniels comprised Paul Tyrer, Matthew Canfield, Rob Hughes and Warren Moores. Tax and accountancy support on the deal was provided by Lee Warburton at Voiseys. Liz Bruce and Duncan Cathie led a team from Brodies that advised the buyer Indaver UK Limited.