Capital Compactors will become the fourth major UK waste products and services business to join IEG alongside Taylor, DuraFlex and UKCM.
Capital Compactors was founded in 2000 by Alistair and Jo Lindsay, both of whom have led the business since its inception. The company provides and services waste compactors and recycling balers that waste operators and end-users acquire through leases or rental contracts, as well as upfront equipment purchases.
IEG said the decision to acquire the company “supports its customer-service oriented growth plan, which centres on building a comprehensive waste solutions business in the UK through ‘Best of British’ brands focussed on sustainability”.
Mike Braddock, managing director of IEG, said: “The acquisition of CCL adds yet another premier service offering to the IEG EMEA portfolio. We’ve been so fortunate to build the EMEA family with such respected companies now adding another in CCL.
“Their value and reputation in the waste industry make us a more complete supplier to our core Customers by providing Bins, Wear Parts, Services and now Compactors and Balers.”
Jo Lindsay, co-founder of CCL said: “When Alistair & I started CCL in March 2000 we had a dream to one day become the UK’s leading supplier of top-quality waste compaction and recycling machinery. 23 years on we believe we have achieved that dream, together with our amazing workforce, and the support of our loyal customers, suppliers and business associates.”
She added: “As the company has grown, CCL’s brand has become highly respected throughout the waste industry. Its reputation for providing reliable equipment and excellent service has attracted many offers to acquire the business, but for us to consider handing over our much-loved company we had to feel sure whoever took over would be the perfect fit. We truly feel we have found that in IEG.
“With the environmentally conscious companies within their Group, we believe we have an ideal compatibility with IEG’s values, culture and strategy, and their acquisition will allow CCL to reach its full potential and continue onto the next level. More importantly, the further expansion offers exciting opportunities to all its staff members – our highly valued Team Capital – who have made CCL a company to be immensely proud of!”
A team from Quercus International led by Mark Whelan and Neil Giles advised the shareholders of CCL.
Mark Whelan, partner at Quercus said: “We are delighted to have advised Al and Jo Lindsay on the sale of CCL which they developed and grew from an idea into the UK’s leading manufacturer of high-quality waste compaction and baling equipment.
“Al and Jo were keen to retire and asked Quercus International to help them find a buyer who would both protect and enhance their legacy. Through a pre-existing relationship we had with IEG in the UK, we found a buyer that would be able to do just that. We are sure that under IEG’s ownership, CCL and its excellent team will continue to flourish and innovate and be able to maintain its position as a key provider of waste management and recycling solutions in the UK.”