Brambles, a global provider of support services which operates in 45 countries, revealed it was to quit the waste management sector last November to focus on other activities and immediately put Cleanaway’s worldwide business up for sale.
It is believed than more than 30 expressions of interest were received for Cleanaway UK and that this number has now been whittled down to seven, consisting of three waste management companies and four venture capitalists or financial groups.
Waste bidders
Waste management businesses shortlisted by Brambles are thought to be FCC of Spain which owns Focsa in the UK, SITA of France which owns SITA UK and Veolia of France which owns Veolia Environmental Services UK.
Venture capitalists have taken a growing interest in the UK waste sector. However, neither of the two main investing groups which have been involved in acquisitions recently are thought to have been shortlisted. This would mean that Terra Firma, which bought Waste Recycling Group, and Montagu, which acquired Cory Environmental, are out of the running for Cleanaway, although it has not been confirmed that they were among the original firms expressing interest.
Venture capitalists
Among the four venture capitalist or financial bidders, are believed to be: Bourne; PIA – which is thought to have links with SAUR, considered the third largest waste firm in France; Yeoman; and one other firm.
It remains unclear whether the purchaser of the business will keep all of Cleanaway’s contracts and services which range from waste management through to grounds maintenance.
A spokesman for Brambles said that the company was making no comment. No timetable for the sale to be completed has been given although Brambles is thought to be hoping for a swift deal which could see agreement reached in late summer or during the autumn. Observers say that of the seven bidders, it is likely that a further shortlist will be produced.
1,500 vehicles
Cleanaway UK describes itself as “one of the largest collectors of municipal, industrial, commercial and trade waste in England and Wales and operates a specialist fleet of approximately 1,500 vehicles. Cleanaway’s waste disposal operations receive in excess of three million tonnes of domestic, commercial and industrial dry waste and handle more than 300,000 tonnes of liquid chemical waste per annum.”
In the UK, Cleanaway employs more than 8,000 people.
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