Law firm TLT has advised Biffa, one of the UK’s leading sustainable waste management businesses, on its £10m acquisition of Green Circle Polymers Ltd, Scotland’s only postconsumer plastics recycling facility.
The acquisition bolsters Biffa’s market leading plastics recycling capability by providing more recyclable plastic feedstock in line with its strategy to quadruple its plastic recycling capacity by 2030. The facility also has the capability to sort coloured plastic material and metal cans.
The move comes ahead of the Deposit Return Scheme, which is due to be implemented in Scotland from 1 July 2022. The scheme will encourage residents to recycle their used bottles and cans.
TLT advised on all the corporate aspects of the transaction, with partner Alice Gardner leading the multi-jurisdictional TLT team.
Legal director Kirsty Smith and solicitor Amy Tough provided M&A advice, with real estate expertise provided by partner Brian Armour.
Alice Gardner, partner at TLT, said of the acquisition: “Biffa’s acquisition of one of the largest plastics recycling facilities in the UK demonstrates the company’s ambitious ongoing acquisition strategy and follows its agreement to acquire Viridor collections business and certain recycling assets announced in May.
“This deal shows the continued strength of the M&A market and the level of opportunities available despite the challenges of the pandemic. We are seeing a high level of M&A activity at the moment as both buyers and sellers take advantage of a buoyant market.”