Cambridgeshire plastic recycling specialist PLASgran Limited has been sold to leading UK based plastic design and engineering company RPC Group Plc, in a deal supported by business and financial advisers Grant Thornton and regional law firm Birketts.
Established in 1999, Wimblington based PLASgran provides waste recovery, reprocessing and logistics services to businesses across the UK and Europe. The development of innovative solutions has enabled PLASgran to remain at the forefront of the UK plastic recycling market.
The transaction provides a strong commercial fit between PLASgran and RPC which operates seven divisions from multiple locations worldwide and has an annual turnover of around £3.9bn. PLASgran will operate as part of Northamptonshire based RPC whilst retaining the PLASgran name.
Grant Thornton’s Central and East Corporate Finance team led the full deal process, whilst Birketts advised on the legal aspects.
Commenting on the deal outcome, PLASgran Founder and Chairman, Carl Waters, said: “I would like to thank everyone for their efforts on this transaction. We are pleased to have secured the right home for the company and believe the business will continue to go from strength to strength under RPC’s ownership.”
Adrian Seagers, Corporate Partner at Birketts commented: “We were delighted to assist the vendors achieving an exit that rewarded them for all their considerable efforts to date in building the business. Plasgran is well placed to continue to grow and thrive.”
Stuart Davies, Associate Director at Grant Thornton who led the deal, concluded: “This is a great result for both parties and I look forward to seeing the next phase of PLASgran’s journey under RPC.”
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The content of this article is for general information only. It is not, and should not be taken as, legal advice. If you require any further information in relation to this article please contact the author in the first instance. Law covered as at August 2018.