UK law firm TLT has advised Biffa, the UK’s leading sustainable waste management business, on its £10m acquisition of Scotland’s only postconsumer plastics recycling facility from Green Circle Polymers Ltd in Grangemouth.
The acquisition bolsters Biffa’s market leading plastics recycling capability by providing more recyclable plastic feedstock in line with the Group’s strategy to quadruple its plastic recycling capacity by 2030. The facility also has the capability to sort coloured plastic material and metal cans.
The move comes ahead of the implementation of the Deposit Return Scheme which due to be implemented in Scotland from 1 July 2022, which will encourage residents to recycle their used bottles and cans, including PET plastic, metal, and glass.
TLT advised on all the corporate aspects of the transaction, with partner Alice Gardner leading the multi-jurisdictional TLT team. Legal director Kirsty Smith and solicitor Amy Tough provided M&A advice, with real estate expertise provided by partner Brian Armour.
Alice Gardner, partner at TLT, says:
“Biffa’s acquisition of one of the largest plastics recycling facilities in the UK demonstrates the company’s ambitious ongoing acquisition strategy and follows its agreement to acquire Viridor collections business and certain recycling assets announced in May.
“This deal shows the continued strength of the M&A market and the level of opportunities available despite the challenges of the pandemic. We are seeing a high level of M&A activity at the moment as both buyers and sellers take advantage of a buoyant market.”
About TLT
TLT supports large corporates, public institutions and high growth businesses on their strategic and day-to-day legal needs. The firm’s offering includes market-leading legal expertise, near-legal consultancy services and a suite of solutions developed under its FutureLaw innovation programme.
Able to advise across the three UK legal jurisdictions of England & Wales, Northern Ireland and Scotland, TLT has offices in Bristol, London, Manchester, Glasgow, Edinburgh and Belfast, as well as a specialist ship finance team in Piraeus, Greece.
The firm’s international network includes a strategic alliance with Dutch law firm Holla and Belgian law firm GSJ, giving clients assurance of a consistently high quality of service beyond the UK.
With significant experience advising organisations in the clean energy; digital; financial services; leisure, food & drink; public sector; real estate; and retail & consumer goods sectors, the firm has a strong track record of consistent growth driven by client need.
TLT has over 140 partners and employs around 1,150 people.
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