At least three companies are thought to be shortlisted to acquire Hales although RMC declined to confirm the bidders. However, they are thought to include Biffa and Cleanaway with interest from Onyx as well.
Whoever buys Hales will be acquiring a business which is well-respected within the waste management sector and has strengths including an established skip service and 39 strategically located “Customer Centres” across the UK.
For RMC the sale will benefit the business on at least two fronts. A spokeswoman told letsrecycle.com that RMC had decided to concentrate on its core business and the sale would also reduce debts. And, she confirmed that a decision on a buyer could be made by the end of November or early next month.
Hales has an estimated 2% of the UK waste market and estimated revenues of 104 million. In its interim report for the first six months of 2002, RMC noted that profits in its waste business were down compared to 2001.
Register for free to comment