Ireland’s Beauparc Group has bought Lincolnshire-based waste and recycling business Mid UK Recycling.
In a post-administration deal, Beauparc snapped up Mid UK through its New Earth Solutions business immediately after the appointment of accountancy firm PWC as administrators to Mid UK this week. Mid UK reports that it has an annual turnover of £37 million.
In Ireland, Beauparc owns the Panda brand which is one of the country’s most well-known was collection and recycling businesses. And, in 2016, Beauparc bought Ireland’s second largest waste company, Greenstar.
Business and assets
In a statement about this week’s acquisition of Mid UK, the company said that: “Toby Underwood and Mike Denny have today been appointed Joint Administrators of Mid Recycling UK Limited (“Mid UK”). Immediately following the appointment of administrators the business and assets of the company were sold to New Earth Solutions (West) Limited, a subsidiary of the waste recycling group Beauparc.”
Mid UK 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 sale, 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’s Chris Mountain added: “Since the fire in September 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.”
Two weeks ago, at the end of May, Beauparc announced it is to be the sole fuel supplier to the new Skelton Grange energy from waste facility being developed at Skelton Grange, Leeds. Brian McCabe, Managing Director of Beauparc, said: “We are excited to be the sole fuel supplier and part of this new development that enables us to enhance and expand our activities close to the M62 corridor”.