Santander UK has provided the Nottinghamshire-based waste broker with a “seven-figure five-year revolving credit facility” to support its plans to grow turnover by 40% to £100m by 2024, largely through acquisitions.
The company, which says it has a current turnover of around £60 million, aims to acquire several complimentary businesses over the next five years. It is also switching its day-to-day banking to Santander UK.
Max Kanda, managing director of UKWSL, said: “As a business, both organic and acquisitional growth have delivered us very strong results over the past five years. To achieve our targets – including the acquisition of AMA Waste Management – Santander UK has provided us with the support we needed in the form of a revolving credit facility that enables us to continue along our growth projections.”
UK Waste Solutions Ltd has acquired four waste management services firms in the past three years, enabling it to expand its client base.
Established in 2003, UK Waste Solutions Ltd operates two major brands – Novati and the newly branded Click Waste, which launched in September. Novati provides resource management sustainability packages tailored to the unique needs of large and complex corporate businesses, while Click Waste serves small to medium-sized businesses.
Under UK Waste Solutions Ltd’s broker model, services are delivered by third-party waste management companies. Last year, it arranged the collection of 154,000 tonnes of non-hazardous waste materials from some 6,000 customers.
The company works across an array of sectors including retail, hospitality and public services. Well-known brands that UKWSL have worked with include Marston’s, Roadchef and Zizzi.
Martin Brummitt, relationship director at Santander UK, said: “UK Waste Solutions Ltd is a high-growth and acquisitive business with an exciting future ahead. Santander UK is delighted to support clients like this that play a positive role in enabling companies to measure and reduce the environmental impact of the waste they generate.”