NEWS

TLT advises on multimillion-pound waste management group acquisition

TLT has acted for longstanding client, McCarthy Marland, on the multimillion-pound acquisition of the Hughes and Salvidge waste management group, including its subsidiaries Aasvogel Skip Hire and Valley Trading – a skip hire and complete waste management specialist.

McCarthy Marland is an independent waste management company providing waste collection services and recycling facilities in Bristol and its surrounding areas.

The transformational acquisition will enable McCarthy Marland to expand, more than doubling its turnover and increasing its workforce by more than 60% to 130 employees. The acquisition will also enable McCarthy Marland to increase the amount of waste it can handle and recycle, consequently further developing its sustainability offering.

The complex transaction involved cross-service and cross-sector expertise from banking, real estate and tax. The team was led by corporate partner James Webb and senior associate Yervand Agobiani, supported by Alex Morris (corporate), Jon Stewart and Oliver Swain (banking), Edward Pitt (real estate), William Ngan and Andree Parker (tax).

Alex Marland, director at McCarthy Marland, said: “It’s been a pleasure to work with the team at TLT once again. The firm’s industry knowledge and expertise have been invaluable in getting this important deal over the line. We’re extremely grateful to TLT for guiding and supporting us on our next phase of growth, which will see us increase our workforce and develop our recycling capability and our service offering.”

James Webb commented: “The waste management sector has seen significant consolidation in recent years, a trend which seems to be continuing despite general economic headwinds. We’re delighted to have supported McCarthy Marland on this significant purchase, which will allow the business to grow and improve the service it offers to Bristol and its surrounding areas. We know that waste management businesses are under pressure to meet higher recycling targets, and we’re pleased to have played a part in helping McCarthy Marland increase how much it can recycle - thereby boosting the company’s sustainability credentials - which will be instrumental to its success”.