The sale, which was completed on 31 March, involves the operation and management of Viridor’s 10 landfill sites and its landfill gas operations at a further 32 sites.
Isle of Man-based Frank Solutions is the holding company of a number of subsidiaries, including North East Plant and Urban Remediation.
Viridor explained that Frank Solutions has four landfills under its management through its subsidiaries, and is keen to expand its business and develop their expertise of managing a wider landfill and landfill gas portfolio.
A spokesperson for Viridor said: “We are very pleased to announce the sale of our landfill and landfill gas business to Frank Solutions Ltd. in its entirety .
“Thank you to all our colleagues, past and present, whose dedication and commitment over many years has created such a thriving business. We look forward to your continued success as you all move across under the new ownership.
“With this sale, we will be able to continue delivering Viridor’s strategy of growing our core business areas of Energy Recovery and Polymers Reprocessing, while pushing ahead with our plans to be net zero by 2040.”
KKR
The move continues Viridor’s exit from the sector since its acquisition by KKR, with the company now focused on polymer recycling and energy from waste.
The extent of the value of the sale is unclear as there could have been a ‘negative value’ in part because of the obligation to maintain the closed sites. The closed sites would have financial bonding and one possibility is seen as Viridor passing the bonds on to the new owners. Other waste management businesses are thought to have been interested in buying some of the landfill sites but it is thought that KKR preferred to sell them as a single package in a speedy manner.
Family-run
North East Plant describes itself as a family-run business which specialises in landfill engineering and restoration, plant equipment and land remediation projects.
Urban Remediation positions itself as the UK’s “premier regeneration specialists”, and adds that it “is fully equipped to transform brownfield sites”. The director of North East Plant and also of Urban Remediation is Patrick Joseph Hughes.
The below video from Viridor explains more about its (former) landfill gas operations.
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