Environmental Resource Group has been bought out by Staffordshire outfit Red Industries.
The Brownhills-based firm specialises in waste management and the undisclosed buyout includes Environmental Resource Group's waste facilities in Brownhills and Dudley, labs, offices, employees and customer base.
Red Industries was founded in 2006 and provides hazardous and non-hazardous waste management services to businesses across the 海角视频 from its head office in Newcastle-under-Lyme.
The company said the deal would strengthen its position in the market place and add additional waste management facilities, a larger client support team and fleet of bespoke vehicles.
Environmental Resource Group, which encompasses brands such as Envirosol and Chemtech, will continue to operate as a wholly owned subsidiary under the branding of the Red Group.
Adam Share, chief executive and founder of Red Industries, said: "We are proud to incorporate ERG into our business.
"It was clear from ongoing discussions that our companies are well matched and aligned in terms of strategy, ethos, and focus for the future.
"The acquisition of ERG complements Red's existing waste management activities and secures more regional and national coverage in line with our growth strategy."
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A £39 million funding package, from HSBC and equity investor BGF supported the acquisition.
Alex Sleeth will join Red Industries as non-executive chairman, bringing 19 years of experience operating at board level across a wide range of business services sectors.
Aaron Baker, an investor at BGF, also joins the board.
He added: "We're thrilled to be partnering with Red at such an exciting stage of their journey.
"Adam and the team have built an exceptional business over the last few years and this is a great addition to the group.
"We're looking forward to helping Red realise their ambitious growth plans over the next few years and continue to innovate in finding sustainable solutions for their clients."
Advisers on the deal were Higgs and Sons Solicitors, Keebles, Castle Square Corporate Finance, Wake Smith, Dow Schofield Watts, TAP, Quercus Corporate Finance and Duane Morris.