Investment firm ECP has completed the acquisition of British recycling firm Biffa. in an acquisition worth approximately £2.1 billion.
EPC says Biffa has been at the forefront of the UK's waste management industry for over 100 years, maintaining a commitment to enabling the development and prosperity of a circular economy. With sustainability as a central operating principle, Biffa aims to support the entire waste management process from recycling, treatment and energy generation to collection, disposal and surplus redistribution. The Company claims it provides essential waste services to 100,000 UK business customers and 2 million households, handling around eight million tons of resources every year.
Andrew Gilbert, Partner at ECP said: "We are pleased to complete our acquisition of Biffa and to partner with such an exceptional leader in the waste management space,We share the Biffa team's vision to promote a more sustainable, circular economy, and are excited to partner with the Company in its next phase of growth. We are impressed by Biffa's visionary leadership, talented employees and commitment to safety. ECP and Biffa will remain focused on providing the highest levels of service to the Company's customers."
Michael Topham, CEO of Biffa added: "The closing of the transaction marks an important milestone in this exciting next chapter for Biffa. As we continue to invest in our leading position in UK sustainable waste management, leveraging ECP's deep environmental infrastructure focused expertise will allow us to accelerate our growth, enhance our capabilities and continue to change the way our customers – and our economy – thinks about waste."