Grant Thornton advises Blue Sky Plastic and Electrical Recycling Limited

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January 2018

Blue Sky Plastic

Exponent

Adviser to Blue Sky Plastic and Electrical Recycling on their sale to Exponent

£undisclosed

Grant Thornton team

Darren Bear
Darren Bear, Chief Operating Officer
Stuart Davies
Partner

Industrials

Sell side

Corporate finance

We are delighted to have advised Blue Sky Plastic and Electrical Recycling Limited on their sale to Exponent.

Blue Sky Plastic and Electrical Recycling Limited (BSP) is a leading European waste, electrical and electronic equipment (WEEE) plastic recycler, currently operating one of the first WEEE plastic recycling process plants in the UK.

Founded by Chris Riddle in 2003, the process took a number of years to develop, resulting in a unique formula which recycles the plastics from WEEE into high quality pellets ready for use in manufacturing new products.

The company generates c. £10 million of revenue and is experiencing excellent financial growth. Their recycled products are highly regarded worldwide.

Enva Group, backed by private equity firm, Exponent, consists of four leading waste management, recycling and resource recovery businesses across UK and Ireland.

We initially facilitated introductions of the opportunity to a wide buyer pool, generating significant interest in the company. We led negotiations with several buyers, driving competitive tension and exceeding shareholder expectations.

Exponent were the preferred bidder based on the strong strategic fit and their growth aspirations for BSP in the future.

We project managed the process from start to finish. Through our extensive relationships and research database, we conducted in-depth buyer research, led negotiations to maximise shareholder value and resolved issues arising out of due diligence to ensure a seamless transaction.

Testimonial

Grant Thornton provided an excellent service, adding value in every step of the transaction; in particular successfully identifying the final buyer. The team were instrumental in delivering an outstanding outcome and I would definitely recommend them as a corporate finance advisor.

Chris Riddle Managing Director, Blue Sky Plastic and Electrical Recycling Limited