BDO helps Simpro complete £6m deal
WEST MIDLANDS green waste recycler Simpro Ltd has been sold by founders to Teg Plc for £6millon.
Simpro, launched in 1997 to recycle green waste on farms has won contracts for a number of Midlands councils.
The Wolverhampton firm has six sites across the region, which new owner Teg says will enhance the Lancashire based firm’s geographic coverage give it ten composting sites. It will also more than double its processing capacity from 115,00tpa (tonnes per annum) to 295,000tpa.
The vendors were advised by Roger Buckley and Gurinder Sunner of BDO Corporate Finance in Birmingham.
David Tipton, one of two founders said, “During difficult market conditions, BDO provided us with invaluable advice and solutions to challenges that arose during the process. They stayed close to all the parties involved and were relentless in their determination to achieve the right outcome. Their pragmatic and professional approach ensured the deal completed and we are delighted with the result.”
The acquisition is likely to mean further investment in the sites as councils continue the drive towards a greener future.
BDO corporate finance partner Roger Buckley said: “This is a very good deal for both buyer and seller. After building up a successful business over the past 13 years, the owners are passing the baton on, so the company’s good work can continue.”
