|Client||McCarthy Marland Limited|
|Facility||Asset Based Lending|
|Funding need||Acquisition and Growth|
Bristol-based waste management firm McCarthy Marland Limited is expanding to two further sites in order to better serve the whole South West, following the acquisition of Hughes & Salvidge Waste Management Ltd from The Hughes & Salvidge Demolition Ltd, with funding support from Shawbrook.
Established more than 20 years ago, family-owned McCarthy Marland provides waste recycling to commercial, industrial, construction and demolition businesses, in addition to domestic building waste recycling for individuals. With sophisticated technology to sort, recover and recycle the materials received, the business aims to minimise the amount of waste sent to landfill.
With capacity stretched at its current sites, McCarthy Marland has acquired Hughes & Salvidge Waste Management Ltd including its subsidiaries; Valley Trading Ltd (Gloucestershire) and Aasvogel Skip Hire Ltd (Oxfordshire). This acquisition has provided McCarthy Marland with two further sites and the ability to expand its services within the South West. The move will see McCarthy Marland grow to a 130 strong workforce and nearly double its turnover to over £18million.
Shawbrook is providing a full suite asset-based lending structure, which has re-financed McCarthy Marland. This includes a bespoke property facility at a value of £12.6m with a five-year term.
Expansion is the natural next step for our business, and the acquisition of Hughes and Salvidge Waste Management will give us the capacity to meet the demand we’re experiencing.
“The team at Shawbrook understood our business with significant experience in our sector, and this combined with their ability to offer a flexible structure gave us the reassurance to move forward. I’m looking forward to seeing the business grow further in the coming years.”
Oliver Jenkins, Director at Shawbrook comments:
“As a family-owned business with deep roots in the South West, McCarthy Marland is well-placed to capitalise on new opportunities. Responsible waste management is only going to become increasingly important, and they are leading the charge. With unique property assets involved, it was important that we could offer a flexible structure and the open conversation with the senior team was key to getting this deal across the line.”
John Weedon at Cadence Advisory advised McCarthy Marland, with Pinsent Masons providing legal counsel to Shawbrook and due diligence by Dains.
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