Ward Hadaway cleans up on waste management deal | 17 September 08
NORTH law firm Ward Hadaway has helped leading waste management plc Shanks Group on a £3m deal.
The firm advised Shanks on the sale of its waste management operations in Liverpool to global environmental services group Veolia.
The operations, based at Canada Dock on Merseyside, were sold as part of Shanks Group’s plans to focus on its core areas in the UK.
Duncan Reid, partner in the corporate finance department at Ward Hadaway, led the firm’s team on the transaction.
He said: “Shanks Group is one of the leading companies in the waste management sector so it was very pleasing to have been chosen by them to advise on this transaction and to conclude it successfully.
“It is the latest in a series of deals on which we have worked with Shanks Group.
“Acting for a large plc outside our North-East base demonstrates that Ward Hadaway has a genuine national presence and is a firm which major companies feel they can trust to deliver their plans.”
Ward Hadaway has previously acted for Shanks Waste Management Ltd on the £6.4m acquisition of Northamptonshire-based recycling and waste transfer business Wastecom in November 2007 and the £34m sale of its UK hazardous waste business in September 2005.
The firm has also advised Shanks Group plc on a number of other smaller acquisitions over the last few years.
Ian Goodfellow, managing director of Shanks Waste Management Ltd, said: “We need to know that we can rely on our legal advisers to get the job done and Ward Hadaway have consistently delivered in this respect in a thorough and professional manner.”
In addition to its work for Shanks Group, Ward Hadaway’s expertise in the fast-growing waste management sector has seen the firm called upon to advise on a number of other transactions in the industry.
Ward Hadaway advised North Star Equity Investors (NSEI) on an investment in Wallsend-based Alternative Waste Solutions (AWS) in January.
AWS, which recycles waste plastics such as HDPE milk bottles and PET water bottles, used the investment to fund part of a £14m expansion of its plant.
Ward Hadaway also advised NSEI earlier this year on an investment in Stockton-based Medical Waste Solutions, which has developed a system to recycle up to 90% of the UK’s clinical waste.
Duncan Reid said: “Waste management of all kinds is already a real growth market and is set to expand still further over the next few years across the country so we believe our experience and expertise in the sector will stand us in good stead.”
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