Independent waste management operator Greenzone Facilities Management has completed a shareholder buyout with support from Virgin Money.
Greenzone specialises in waste brokerage, providing nationwide waste/resource management solutions, including recycling and reuse. The pandemic has caused an increase in clinical waste for the UK waste industry and the growing sector is now estimated to be worth £31.6 billion annually, so Greenzone aims to grow its market share in the coming years.
The firm has a turnover of £17 million and employs 75 people at its offices in Newark, Nottinghamshire. It is a Virgin Money customer and the shareholder buyout transaction was led by David Burgess and Martin Aston, Virgin Money SME cashflow finance directors. Greenzone’s legal adviser was Duncan Taylor of Nelsons Solicitors.
As the sector gained key worker status during the pandemic, Greenzone was able to stay operational to support its wide range of UK blue chip clients across several industries. Its IT team has designed a software system that manages the entire customer waste journey. This offers waste reporting and provides insights into its clients’ businesses, as well as customer behaviour. Greezone says its IT team “is innovating to make the customer experience the best in class – includes enhancing the functionality of its customer portal, embracing API technology and developing a mobile app to offer improved access to clients”.
As part of the shareholder buyout, the business has promoted from within, appointing Louise Taggart as managing director. She is the company’s first female MD and is a solicitor and chartered governance professional with more than 20 years of experience in the waste industry, having spent 15 years at Biffa Waste Services advising waste operators while working in private practice. She has been with Greenzone for three years and was formerly legal director.
Taggart said: “Greenzone has risen to the challenge of the past year – we have listened, learned and adapted.
“Our people and relationships are the key to our success, so we will be looking to invest in and nurture both. Working with Virgin Money has presented an opportunity to really understand where we are and where we are going. While the due diligence process was comprehensive, it was both challenging and supportive, and Virgin Money will be a great partner going forward. ”
Burgess said: “Greenzone is a strong established business, with a very clear growth strategy, which will increase its market share and expand their footprint across the UK.”
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