Global law firm Ashurst has advised Biffa plc (Biffa) on its c.£126m acquisition of the Collections business and certain Recycling assets of Viridor Waste Management Limited (Viridor).
The UK’s leading sustainable waste management company, Biffa’s operations span the breadth of the waste management process including collection, reuse, recycling, treatment, disposal and energy generation. Viridor is a recycling, renewable energy and waste management company, which has been owned by KKR since early 2020.
The acquisition is a significant step in Biffa’s growth strategy as a leading enabler of the UK circular economy, and demonstrates a continued commitment to its sustainability strategy. It also strengthens Biffa’s position as one of the largest recyclers of post-consumer materials in the UK and reinforces the Group’s leading position in closed-loop recycling.
The Ashurst team advised across the transaction. Global head of corporate Jason Radford led the team, supported by corporate partner Richard de Carle and UK head of corporate Karen Davies, senior associate Dallan Pitman and associate Camilla Booth-Clibborn. Senior associate Liz Parkin and associate Imene Hamdi-Cherif advised on employment law aspects. Projects partner Cameron Smith and associate Zarin Begum also advised on the commercial contracts. Counsel John Gordon advised on pensions matters and partner Nicholas Gardner and associate Shayaan Bari Zaraq advised on tax. Real estate partner Jamie Chapman, senior associate Julie Connelly and associates Lucy Picton-Turbervill and Josie Oliver and Rebecca Fenton advised, together with environment partner Eleanor Reeves and senior associate James Nierinck and planning partner Claire Dutch and associate Charlotte Coyle.
Jason Radford commented: “I am delighted that Biffa has trusted us with such a strategically significant transaction as our first mandate. This reflects our standing in the waste management sector and the hard work of an integrated team of partners and lawyers over many years to build our industry profile and experience. I look forward to continuing our work with Biffa and to securing a successful completion.”