Equity group snaps up Biffa for £1.2bn

摘要

A consortium of private equity funds has bought waste contractor Biffa for more than ￡1.2bn. Consortium Wasteaquisitionco Ltd, which includes the Montagu Funds, Global Infrastructure Partners (GIP) Funds offered the company's board 350p a share. Biffa has one of the largest waste-collection networks in the UK, and recovers more than 4m tonnes of rubbish each year. The firm has two fully-integrated PFI waste-management contracts with Isle of Wight Council and Leicester City Council, and recently launched a new recycling service for 5,000 homes following the award of a new contract with Stafford BC.