Our Corporate Finance team is pleased to have supported the management team at environmentally friendly waste disposal business Reef Environmental Solutions (Reef) on a successful sale process that will ensure its future growth.
Reef’s core business is confidential waste disposal and trade waste removal, supporting clients from business, local government, the NHS and charity sectors with a focus on sustainable recycling. The business, which is based in St Leonards-on-Sea, Hastings, has now been acquired for an undisclosed sum by the London-based BPR Group, which operates in the same sector and was seeking to extend its geographical reach and existing operations in the South East.
The company operates across Sussex, Surrey and Kent and has grown every year since it was founded in 2015. The firm’s management team, having grown the firm to date, was supported on the sale by FRP Corporate Finance Partner Adrian Alexander and Senior Manager Nick Lovelock, who were tasked with finding a new owner to take the company through its next phase of growth.
BPR, which trades as Paper Round, is a commercial recycling expert that was originally founded by Friends of the Earth in 1988 and is now a standalone company.
Richard Taylor, Co-Managing Director at Reef Environmental Solutions, said: “We’re extremely pleased to have secured new custodians for the business who will ultimately drive further growth in the coming years. Although we have sold businesses in the past, with this transaction we really valued FRP Corporate Finance’s expertise and advice to help us get the sale over the line, meeting all our objectives and within the originally agreed timescale.”
Adrian Alexander, FRP Corporate Finance Partner, said: “It has been great to support another company in the waste sector and build on our considerable experience in this field. Reef has built up a strong proposition over the past five years, and the high levels of interest we received in the company from trade buyers is testament to the quality of the business. We look forward to seeing them go from strength to strength.”
Jonathan Grant and Liz Gillingham of DMH Stallard provided legal support to the sellers.