Biffa spreads hazardous waste reach
The waste giant, which had the second largest revenue of any waste management services provider in the UK in 2014/15 (£878 million), took over the two chemical treatment businesses in late 2015 as part of the firm’s expansion strategy.
After a year’s integration period, Biffa says it can now provide a range of specialist services at nine dedicated UK facilities, including aerosol recycling, fluorescent tube recycling, a range of pollution prevention products and chemical treatment. Through its increased network of transfer stations, treatment plants and operating facilities, the firm also says that it now covers 85 per cent of UK postcodes to provide hazardous waste disposal solutions.
Scott Millns, business director at Biffa, said: “Disposing of hazardous waste compliantly requires expertise and specialist knowledge and we now offer a wider range of products and services to ensure our clients’ compliance with applicable hazardous waste regulations.
“Hazardous waste is an important area for us and with our bolstered offering we have created an ideal platform for further growth.”
Over the past three years Biffa has acquired more than 20 waste management businesses – including the waste collection business of Cory Environmental Group in June 2016 for £13.5 million – as it seeks to ‘consolidate’ the UK waste market.
In September the firm announced that it was to offer stock in the company on the London Stock Exchange, in the biggest floatation since the Brexit vote. It expected to raise approximately £270 million through the initial public offering (IPO), the majority of which will be used to pay off debt.
Last year, Biffa, which was forced to carry out an emergency financial restructuring after the 2008/09 market crash, announced that its underlying pre-tax profits in 2015/16 had grown to £122.3 million, up from £105.1 million the year before, while the first quarter of 2016/2017 produced net revenue 28.7 per cent greater than the same period in 2016.
The group’s services are organised across four operating divisions: industrial and commercial; municipal; resource recovery and treatment; and energy. It serves 2.4 million households and 75,000 industrial and commercial customers, while employing over 7,000 members of staff.