A leading South Coast construction & demolition waste operator sold to Biffa

Blake Morgan and Azets Corporate Finance have advised on the sale of L&S Waste Management to Biffa, for an undisclosed amount.

L&S was established in 1997 and provides a full suite of waste management services to the construction and demolition sector in major urban areas along the South Coast, including Southampton, Portsmouth, Fareham and Chichester.

The core waste management business includes two construction and demolition material recycling facilities in Southampton and Portsmouth, a transfer station in Fareham and a fleet of 91 collection vehicles. L&S is a significant local employer, with in excess of 160 staff.

With over 100 years of expertise, Biffa is an established leader of sustainable waste management in the UK. Biffa employs more than 10,000 staff who provide unrivalled end-to-end waste and recycling solutions for thousands of businesses and millions of households each day.

This acquisition reinforces Biffa’s strategy to grow low carbon recycling solutions for its local authority and industrial customers across the UK, as well as increasing the amount of recycled products available to the construction industry.

A well-established brand along the South Coast, L&S will continue to trade as L&S Waste Management.

Marc Angell, Biffa’s Managing Director, Construction & Demolition, said:

Mick Balch, Managing Director, L&S, said: “The sale of the business to Biffa heralds an exciting new chapter in the proud history of L&S.

“New and existing customers will continue to be serviced by the L&S brand and by the same team who are committed to providing the most sustainable service possible, while also being able to draw on Biffa’s extensive pool of resources and expertise.”

Manoj Styche-Patel, Corporate Partner at Blake Morgan commented:

Rob Holmes, Partner at Azets Corporate Finance added: “It has been a privilege to be involved in a transaction of such a prominent local business. Our Accounts and Tax teams have supported the business for many years, and worked together seamlessly with our corporate finance team to deliver this complex transaction.  We are delighted to have assisted the shareholder and we are sure that the business will go from strength to strength under Biffa’s ownership.”

The exiting shareholder Brian Chamley said: “I would like to thank Azets Corporate Finance and Blake Morgan for their excellent work in completing the deal. The waste management sector is very fast-moving. This is the correct time for a change in ownership to enable L&S to benefit from the investment and support of a larger enterprise that can facilitate growth to the next level.  This transaction would not have been possible without the hard work of the excellent team at L&S and the loyalty of all its customers and suppliers. I wish them all the best for the future in moving forwards.”

Azets Corporate Finance (Rob Holmes, Partner and Jon Huggins, Associate Director supported by Paul New, Partner and Mike Middleton, Tax Partner) and Blake Morgan (Manoj Styche-Patel, Partner, Katie Newham, Associate and Robert Thomas, Tax Partner) advised the exiting shareholder. Biffa were advised by BDO (Darren Phillips, Director and Alex Luker, Manager) and Pinsent Masons (Andrew Senior, Partner and Louise Blair, Senior Associate).

For further details, please contact Rob Holmes at Azets Corporate Finance on 07812 997165 or Manoj Styche-Patel at Blake Morgan on  07818 334880.