Established in 2003, Highfield Environmental operates two sites, located close to Middlesbrough at Teesport and Cowpen Bewley. The company provides for secure disposal of hazardous, non-hazardous and non-biodegrade waste to landfill, as well as composting of a range of biodegradable wastes and handling of site restoration materials.
For Enovert, the addition of Highfield Environmental to its group means a widening of its range of specialist disposal services. The Highfield deal – announced yesterday (23 November) – is the second by Enovert this year. In June it bought gas engine specialist ABC Power Solutions (see letsrecycle.com story).
Synergies
Chief executive of Enovert, Mark Silvester, said: “The Enovert team is delighted to have acquired Highfield Environmental Limited. The synergies between the two businesses and range of facilities operated by Highfield are a great fit for us. Highfield’s strong presence in the region provides Enovert with an established foothold in the North East that complements our existing operations and creates new opportunities for the business. The acquisition is in line with our strategy to grow the business and broaden the range of services Enovert brings to the sector”.
Duncan Martin, chief executive of Highfield Environmental, commented: “It’s good news for Highfield that we are being acquired by a strong business with experience and growth plans in our sector and our current business will only become stronger as a consequence of this acquisition.”
Finance
The sale process was managed by Deloitte LLP’s Birmingham-based Advisory Corporate Finance team led by director, Andy Moody with legal advice provided on the sale process by Shoosmiths LLP.
Mr Moody noted: “I am delighted to have supported the Highfield Environmental team throughout this process; leveraging the Deloitte team’s considerable experience of complex transactions and sector knowledge to identify a strong strategic acquirer in Enovert, and to deliver an outstanding result. This is a fantastic outcome for all concerned – Enovert has acquired a strategically located asset in the North East to strengthen its portfolio and Highfield Environmental has found a long-term home within which it can continue to flourish.”
The multidisciplinary deal advisory team at KPMG UK acted on the investment on behalf of Enovert and was led by Will Griffith associate director. Legal advice was provided to Enovert by the multi- disciplinary Infrastructure & Energy team at Walker Morris LLP led by partner, Tim Jackson-Smith.
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