Recycling firm agrees £4.5m deal to acquire warehouse

RECYCLING firm WasteCare Group has agreed a £4.5m financing deal with the bank to enable them to buy a warehouse facility in Normanton to serve as a “central base of operations.”

The company, founded in 1980, employs 400 people across the UK, with 50 based at Normanton Industrial Estate, which is also home to Harvard Engineering and Poundworld depots.

With a turnover of £30m, the Leeds-based business is looking to expand further.

Initially launched to recover silver from photographic, X-ray and printing waste, the business has since expanded to recycle more than 1,000 different waste streams.

WasteCare collects more than 60,000 tonnes of hazardous and difficult waste, on behalf of more than 30,000 organisations annually throughout the UK.

Last December the business was hit by a major fire at their Calderdale processing plant, causing “severe” damage to buildings.

Peter Hunt managing director at WasteCare, said: “The site in Normanton will play an important part in our long-terms business growth aspirations as it will serve a central base for our operations.

“The team at NatWest understand our business goals and ambitions, and we have an excellent relationship with the bank which has enabled us to expand our operations and invest for the future.”

David Smithies, relationship director at NatWest Leeds, with which the business has
banked for 35 years, said: “We were delighted to support WasteCare on its strategic purchase of the site in Normanton.”