A Tredegar firm specialising in the collection of hazardous and liquid waste has been acquired by leading waste management firm Biffa.
Hazrem Environmental was established in 2004 by Paul Goddard and has grown to become a regional market leader with over 70 customers including blue-chip firms. The value of its acquisition by Biffa has not been disclosed.
The corporate finance team for Wales and south west of England Dow Schofield Watts acted for Biffa on the deal. The deal team was led by Koo Aseeley and included Michael Dunn and other members of the firm’s growing Cardiff-based team.
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Mr Goddard said: “After over two decades building the business, the time is right to hand over the reins so Hazrem can continue its growth story as part of the Biffa group. Biffa’s operational expertise and capabilities make them an ideal fit for our client base and the team moving forward. I will remain with the business and look forward to continuing to support our clients.
Gavin Williams, Biffa’s specialist services managing director, said: “We’re delighted to be growing our industrial services business with the acquisition of Hazrem Environmental. We’ve gained a complementary fleet of vehicles, including tankers, for the safe and efficient collection and treatment of customers’ industrial waste.
“The deal aligns with our growth strategy and adds to our growing footprint in the packaged goods and bulk liquid sector in south Wales and south west England, following the acquisition of Total Recycling Solutions (TRS) in the north of England in February 2023.”
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Commenting on the transaction, DSW partner Mr Aseeley, said: “Paul and Michelle (wife of Paul and fellow shareholder) have built a business with an exemplary reputation for customer service, sufficient to attract an acquirer in the shape of Biffa. Interest from a wide cross-section of buyers led to a competitive bidding process. The deal demonstrates our ability to access merger and acquisition decision makers across the 海角视频, and reflects the recovery taking place in the mergers and acquisitions market.”
Geldards provided legal advice to the shareholders of Hazrem, with its team led by partner Alex Butler, assisted by solicitors Jamie East and Georgia Evans.