Environmental Waste Controls (EWC), the UK’s fastest growing waste management business looks set to capitalise on its market leading position through a £8.5 million deal, which sees a management buy-out team (MBO) of Bill Edwards, Ian Simmonds, Barry Sidwell and Kevin Wood, taking over the reins.
Based in Widnes, EWC is a market innovator in the provision of waste facilities management providing waste compacting, disposal and ancillary services on term contract to the private and public sectors. With a turnover of £8 million it employs over 90 staff at depots in nine locations throughout the UK.
The deal has been led, structured and arranged by the Manchester office of Clearwater Corporate Finance plc.
The 94th fastest growing company in this year’s Sunday Times Fast Track 100, the company offers its customers significant opportunities to save on their waste disposal costs.
EWC achieves significant savings for customers while offering a superior service relative to its competitors. The EWC partnership approach promotes transparency and accountability.
EWC has a strong customer base that includes NHS Trusts, hotels, manufacturing companies, food processors, retail companies, railway stations and local government.
“We believe we offer the best product in the current market in terms of value for money and customer service,” says Bill Edwards, managing director, “We focus on maximising customer satisfaction by working in partnership with them to be able to react to their changing waste needs. This close partnership is evidenced by a customer retention rate of over 95 per cent.”
Paul Jones, partner with Clearwater Corporate Finance commented; “EWC’s management are an entrepreneurial, dynamic and cohesive team who are ideally placed to take the business to the next level. The deal sees Julian Watts achieve his objective of pursuing new entrepreneurial opportunities whilst leaving the business in very capable hands.”
The waste market sector in which EWC operates is in the region of 200m tonnes per annum. The increased pressure on both public and private sectors to be more environmentally friendly puts EWC in a strong position to the more traditional waste companies because of its more environmentally friendly product.
EWC’s Bill Edwards added; “We have the opportunity to capitalise on our reputation and target larger contracts. The MBO team is delighted to have this opportunity and will continue to raise the bar with respect to the level of service customers can come to expect from their waste management providers and in doing this continue to win market share from EWC’s competitors.”
The business was started in 1993 by Bill Edwards and Julian Watts who recognised an opportunity to introduce a superior cost effective service utilising German waste compactors into the UK. In 1996 the company extended its services into offering a complete waste facilities management solution to customers.
The Clearwater Corporate Finance team led by partner, Paul Jones included Brian Millrine, deal leader.
Richard Martindale and Jon Bloor of Hill Dickinson in Liverpool advised the MBO team with funding for the deal provided by Bank of Scotland Business Banking, led by Peter Smith in Manchester. Tax structuring on the deal was provided by John O’Mahony and Nagaraj Jayakumar from Tenon.
David Houghton and Denise Walker from the Liverpool office of law firm Brabners Chaffe Street advised Julian Watts.