Finnish energy company acquires recycling experts
Finnish energy company St1 Nordic Oy has purchased Brocklesby, one of the UK’s leading food waste recycling businesses.
The Brough headquartered business is expert in the recycling of used edible cooking oil and fatty food waste, which it notes is then fed “into many diverse industry sectors”.
The deal with St1 follows a large amount of interest in the family fun business which boasts significant sustainability credentials and has seen growth in recent years with the most recent accounts for the year to 30 September 2021 showing and increase in EBITDA of 438% to £5.3m.
St1 noted that the acquisition strengthens its “value chain further upstream towards feedstock collection” with the deal providing supporting to renewable diesel and sustainable aviation fuel production.
Henrikki Talvitie, CEO of St1 Nordic Oy said: “Acquiring Brocklesby is a significant reinforcement of our value chain and results in more and more sustainable feedstocks for our premium energy products that we will serve our customers with.
“Entering the sustainable feedstock business in the UK is a concrete step in consistent and long-term implementation of our growth strategy.”
Robert Brocklesby, director at Brocklesby who will continue as an active board member following the acquisition added: “We are excited to now be part of the energy company St1 Nordic and the opportunities for the future that this delivers to Brocklesby employees, the site and wider business for its continued future growth. This allows Brocklesby to be part of the whole supply chain from a restaurant collection directly through to the manufacture of sustainable aviation fuel – a truly integrated operation.”
Talvitie noted: “I am extremely proud to welcome the people, traditions and suppliers of Brocklesby to our St1 family. Joining forces will make us stronger going forward in our energy transition roadmap. I am so pleased that Rob will continue in an active role as a board member of Brocklesby, strengthened further with the existing management team, ensuring seamless supplier relationship management together with developing new business opportunities and growth.”
Jim Whittaker, corporate finance director at Grant Thornton, who advised the shareholders of Brocklesby alongside colleagues Simon Keppie and James Boreman, said: “The Brocklesby story is a brilliant example of an entrepreneurial family creating a high growth, market-leading business with great sustainability credentials. This made the company attractive to international energy companies who increasingly looking to transition away from fossil fuels towards renewables sources.
“The Brocklesby team have developed a state-of-the-art refinery which has underpinned the company’s growth. We are confident that under the ownership of St1, Brocklesby is well-placed to continue its expansion.”
Brocklesby were also advised by Nigel Beckwith, Andrew Tarbutt, Emma Orriss and Charlotte Chilcott of Gosschalks.
St1 Nordic was advised by Nick O’Donnell and Remy Browning of Bird & Bird.
