Partner Article

Billingham waste management and property firm in buyout

Billingham-based Impetus have undergone a management buyout with investment from private equity firm Agilitas.

The deal, which is so far undisclosed, will set Impetus up for tranformation into a creator of renewable energy from waste previously destined for landfill.

The firm was founded in 2003 and managing director Ian Hunter became the majority shareholder in 2007.

Impetus has recently signed a 20-year deal with Teesside’s Air Products Limited to supply waste, and Impetus will build a new waste transfer station, adjacent to Air Products’ forthcoming plant at the North Tees Reclamation Pond site.

The plant will process around 600,000 tonnes of waste a year.

Martin Calderbank, founding Partner at Agilitas, said: “Impetus is an organisation at the crossroads of transformational change and we see huge opportunities in helping the management team develop their business in waste to energy.”

Richard Lord, MD of Impetus, added: “With landfill sites in the north east likely to be full by the end of the decade, it is vital to find a new approach and I am delighted to be working with Agilitas in the development of a new defensible green business.”

Agilitas was advised on the deal by PwC, LRS, Ashurst, Zolfo Cooper, Marsh and SKM Enviros.

This was posted in Bdaily's Members' News section by Tom Keighley .