PMSI

Huge New Recycling Facility Wins Funding

Lawrence Recycling and Waste Management has received a £10 million cash injection to help it complete the development of one of Europe’s largest materials recycling facilities at Kidderminster.

Aberdeen Asset Managers Growth Capital (AAMGC), Barclays Bank, and Advantage Transition Bridge Fund supported the deal. AAMGC has taken a significant minority stake in the company, in a deal that was originated by Birmingham-based Orbis Partners, who also invested into the equity of the business.

Following an 18-month process to gain planning permission, Lawrence Recycling and Waste Management purchased the 209,000 sq. ft freehold of an old industrial forge in Stourport Road, Kidderminster in 2007. The new facility is expected to open its doors to customers over the next few months, creating more than 70 jobs. Once operational, it is anticipated that the site will process up to 250,000 tonnes of commercial, industrial and construction waste, which will assist the local authority in meeting its ambitious targets to decrease waste sent to landfill during the next five years.

PMSI provided commercial due diligence (CDD) support to AAMGC on the deal. We would like to wish David Lawrence and the rest of management team the best of luck with this exciting new initiative.

Visit Aberdeen Asset Management Website at www.aberdeen-asset.com

Visit Lawrence Recycling Waste Management Website at www.lawrenceskiphire.co.uk