Wednesday April 28, 2021

Our Corporate Finance team has advised Greenzone on its shareholder buyout

We are pleased to have advised specialist waste brokerage and recycling solutions business Greenzone on its shareholder buyout and ownership restructuring following the retirement of two of its shareholders and directors.

The £17 million turnover firm, which caters to a range of blue-chip clients across the UK, was supported by our Corporate Finance team, led by Senior Managers James Cooper and Matt Field, in designing a debt-led structure to facilitate the restructuring of its ownership and management team.

Greenzone was founded in 2007 and has built an enviable reputation in the industry, generating consistent year-on-year growth. The buyout will provide a platform for the firm to push on with its future growth plan under the stewardship of new Managing Director, Louise Taggart.

James Cooper advised on all Corporate Finance related matters including designing and advising on the deal structure, presenting the business to its funder to secure a credit-backed funding offer, and project managing the external due diligence process. Matt Field led on all taxation structuring matters including obtaining the requisite HMRC tax clearances to facilitate the deal.

Louise Taggart, Managing Director at Greenzone, said: “James and Matt at FRP successfully managed to navigate the management team through the complexities, and the language, of the world of corporate finance. They quickly grasped the nuances of our business and provided an invaluable interface between us and the advisors and funders.”

James Cooper, Corporate Finance Senior Manager at FRP, said: “Greenzone is steadily growing as a company, and this transaction is an important milestone in the exciting future of the firm. We look forward to seeing the continued growth and success of the business under the leadership of Louise and the new ownership structure.”

The deal was supported by a new term debt facility provided by Virgin Money, led by David Burgess and Martin Aston. The Greenzone management team was advised by Nelsons Solicitors, led by Duncan Taylor.