The Beauparc Utility Group has acquired Mid Recycling UK.
Toby Underwood and Mike Denny of PricewaterhouseCoopers LLP were appointed Joint Administrators of Mid Recycling UK Limited (“Mid UK”) on 12th June 2019. Immediately following the appointment of the Joint Administrators the business and assets of the Mid UK were sold to New Earth Solutions (West) Limited, a subsidiary of the waste recycling and utility group Beauparc.
The Mid UK business recycles a combination of agricultural, commercial and industrial waste, green waste, paper and cardboard, plasterboard and woodwaste. The business also provides renewable fuels, skip hire and waste collections alongside its transport collection fleet. With its head office and key materials recycling facility based in Caythorpe, Lincolnshire, the business operates from five other sites in Lincolnshire.
Mid UK was founded as a family business in December 1997, and has grown to a £37m turnover business employing over 420 staff.
Confirming the appointment, Mike Denny, Restructuring Director for PwC, commented: “We are delighted to have secured a future for the business and employees of Mid UK. The past nine months was a difficult trading period for the business and a combination of the impact of a major fire at the Barkston site, associated losses and tightening credit led to a shortage of working capital.
“It is pleasing to complete the transaction and preserve the employment of over 420 staff in an area where there are very few substantial employers is particularly pleasing.”
Mid UK Chris Mountain added; “Since the fire in September 2018 it has been a challenging period for employees, customers and our supply chain. However this sale provides the opportunity for Beauparc to take the business forward and onto the next phase of its growth and development.”
Commenting on the acquisition, Brian McCabe, Managing Director of Beauparc Group, said ” the acquisition of the business of Mid UK further expands and consolidates Beauparc’s footprint in the UK and will add significant synergies and be complementary to our recent acquisitions in Leeds late 2018. Beauparc intends to use the services of well-established and significant experience and expertise within MID UK and further grow the business.