Adam Share, the Managing Director of Waste Management Service Company, Red Industries has led a Management Buy-Out that has resulted in Adam and his team taking a 100% interest in the business, buying out investors and former management, and bringing the site from which the business operates into the group.
Established in 2005, Red Industries is a leading Staffordshire based Waste Management Company, providing Waste Collection, Recycling, Recovery and Treatment Services to customers Nationwide.
Red’s main site is based in Burslem, Stoke-on-Trent and has key Environmental permits that allow it to process and dispose of hazardous and non-hazardous waste. Clients come from a wide range of industrial sectors including servicing some of the major Blue Chip waste management companies.
Prior to being one of the co-founding shareholders in Red in 2005, Adam had a strong track record of starting and growing waste management companies, the highlight of which was Atlantic Waste, which was sold for £80m in 2004, less than three years after being formed.
Adam Share said, “Red has been growing strongly and going from strength-to-strength in recent years. Following completion of the Buy-Out the management team look forward to building on this success and continuing to drive the business forward.”
Sheffield based dealmaking firm Castle Square Corporate Finance advised Adam and the management team alongside John Baddeley and his team from lawyers Wake Smith, solicitors.
Kevan Shaw, Director at Castle Square said, “we are delighted to have advised Adam and the team on this transaction and assisted in the necessary fundraising. Red Industries is a rapidly growing and very profitable business and so we are delighted to have advised on a deal which sees the equity now fully into the hands of management”.
“It was a pleasure to work with Adam and his team on this transaction. I am sure that Red Industries will continue to prosper and grow under Adam’s leadership.” added John Baddeley, Partner in Wake Smith.
Castle Square assisted in deal negotiations and the fundraising process, which resulted in Allied Irish Bank providing the necessary acquisition finance, property finance and working capital facilities to allow the transaction to complete.
Dale Cowdell of Allied Irish bank said, “As a provider of funding and banking facilities to the Owner Managed Business sector, Red represent precisely the sort of business that we want to be associated with. The package we have provided allows the management team to implement their plans for the future and we at Allied Irish Bank (GB) are committed to being a valued partner to Red for many years to come.”
