Thu 25 Nov 2021 | ECONOMIC NEWS
Waste management services company UK Waste Solutions has said it will target acquisition-driven growth after securing funding from Santander UK. The company operates through two main brands, Novati and Click Waste, organizing the collection of around 154,000 tonnes of non-hazardous waste from around 6,000 customers last year.
The company has now secured a multi-million pound revolving credit facility from Santander UK, which it will use to support its plans to increase sales from £ 60million to £ 100million from by 2024. The company plans to achieve this largely through acquisitions. , saying it will seek to acquire “several complementary businesses over the next five years”.
UK Waste Solutions has made four acquisitions in the area of waste management in the past three years. The most recent acquisition, completed in October 2021, saw the company take over AMA Waste Management, which it said would add £ 15million in annual revenue.
UK Waste Solutions Managing Director Max Kanda commented: “As a business, both organic and acquisition growth has enabled us to deliver very strong results over the past five years.
“To achieve our goals, including the acquisition of AMA Waste Management, Santander UK provided us with the support we needed in the form of a revolving credit facility that allows us to continue with our growth projections.”
Martin Brummitt, UK Relationship Manager for Santander, said: “UK Waste Solutions Ltd is a high growth and acquisition company with an exciting future ahead.
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