Neston Environmental Services is based in Liverpool and specialised in the “provision of total waste management solutions and industrial cleaning services across the United Kingdom”.
The acquisition, effective from 1 October, comes just over a year since Future Industrial Services acquired Colt Industrial Services from Augean PLC in June 2018 for £ 1 million.
The company said that the Neston acquisition follows several other recent projects, such as the expansion of its Rugby industrial services operation and the development of a new transfer facility at its environmental services operation in Berwick.
Expansion
David Lusher, chief executive of Future Industrial Services, said: ‘’The addition of NES represents a major expansion to our current North West-based Environmental Services and Specialist Industrial Services operations.
Acquisition
“The significant assets acquired will also support the UK-wide Future business”
David Lusher
Chief executive, Future Industrial Services
“The significant assets acquired will also support the UK-wide Future business as we continue to develop our range of services to existing and new customers. I really believe that the combined business will deliver more opportunities for profitable growth in both Industrial Services and Environmental Services”.
Future was previously acquired through a “management buy-out” from One51 Plc in April 2017, worth £16 million (see letsrecycle.com story). This was completed with the support of NorthEdge Capital LLP, a Manchester based private equity firm with a reported £650m of funds under management across a current portfolio of 20 businesses.
Future Industrial Services employs more than 300 staff across its Environmental Services and Specialist Industrial Services divisions.
Full UK-wide service is provided from facilities as far apart as Berwick-upon-Tweed down to Devonport Dock in Plymouth.
The company has also been named as a finalist for letsrecycle.com’s 2020 Awards for Excellence in Recycling and Waste Management in two categories (best use of design/technology; and metals recycling).
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