Leading UK recycling, renewable energy and waste management company, Viridor, has acquired JWS Churngold Limited for a total cash consideration of £14.25m on a debt-free basis. The acquired company is based in Leyland, Lancashire and provides waste logistics and transport solutions in connection with the Lancashire Private Finance Initiative (PFI) waste contract. The acquisition is in line with the company’s strategy of expanding its activities, particularly in the contracts and recycling sectors.
JWS Churngold is the waste logistics and transport solutions provider under contract with Global Renewables Lancashire Operations Limited, the contractor to the Lancashire waste management PFI. It provides transportation of all waste derived from the Lancashire and Blackpool local authorities’ transfer stations bound for Global Renewables’ PFI treatment facilities at Thornton and Leyland, plus the onwards transfer of all materials for recycling or disposal.
The acquired company employs 38 people and operates a fleet of 26 vehicles, transporting up to 500,000 tonnes per annum of materials over the contract period.
Commenting on the acquisition, Colin Drummond, Chief Executive of Viridor said, “We welcome our new colleagues in the North West. JWS Churngold’s operations in Lancashire fit well with our existing and planned operations in the north west, including those associated with the Viridor/Laing Greater Manchester waste PFI. The acquisition is expected to be earnings enhancing in its first full year.”