Hailsham-based family business sells skip hire and waste transfer operations while retaining its recycling facility
Accountancy and advisory group Affinia has advised East Sussex waste management company Haulaway on the sale of its skip hire and waste transfer operations to EverGrowth Group, allowing the family business to concentrate on expanding its retained recycling operations.
Based in Hailsham, Haulaway operates across the South East. The transaction involved separating its skip hire and waste transfer business from its recycling distribution facility, which remains under the ownership of the existing shareholders.
The sale will enable Haulaway’s shareholders to reinvest in the recycling facility and focus on developing that part of the business.
Affinia’s Deal Advisory team, led by Director Malcolm Coomber, provided corporate finance advice throughout the transaction, including marketing the business, managing negotiations, coordinating the sale process and advising on the financial and tax structuring.
Malcolm Coomber said: “The carve-out added an extra layer of complexity to the deal, requiring careful planning and coordination to separate the different parts of the business while progressing the sale.
“It was a pleasure to work closely with the shareholders and their advisers throughout the process, helping them navigate the commercial, financial and structural considerations and achieve a successful outcome.”
Julie Holloway of Haulaway said: “This was the first time we had been through a corporate transaction of this size and complexity, and we were consistently impressed by the team’s patience and clarity in walking us through the financial and process complexities at each stage.
“Affinia also project-managed the process, liaising closely with our lawyers, internal finance team, and accountants, and consistently found practical solutions when necessary.”
Schofield Sweeney provided legal advice to Haulaway.
The acquisition expands EverGrowth Group’s Environmental Services division as it seeks to build a nationwide facilities management business.
EverGrowth was founded by Chris West and Ferdie Ahmed and is backed by FourLeaf Capital. The group acquires founder-led and family-run essential services businesses across the UK, allowing acquired companies to retain their individual names, identities and employees.
Affinia is one of the UK’s Top 20 accounting and advisory groups, with 33 offices, around 1,600 colleagues and more than 25,000 clients.
