£10m Development Capital secured for waste management business
Lawrence Recycling & Waste Management Limited is a regional skip hire business operating a modern fleet of vehicles in the Kidderminster and Stourbridge area.
The business operates a waste transfer station and has been developing Europe’s largest materials recycling facility (MRF) for over 3 years.
I wish I had met Orbis earlier on they really made a difference, we couldn’t have done it without them…They were never perturbed throughout and went the extra mile to ensure that we got the best.
David Lawrence, Managing Director
Orbis acted as lead advisor to the management team in the raising of £10 million of development capital to complete the renovation and redevelopment of a former forge bought in September 2007 into a state of the art recycling facility.
The deal was supported by equity funding from Aberdeen Asset Managers with debt funding provided by Barclays and Advantage Transition Bridge Fund. The deal was complicated by the difficult banking market following the credit crunch and economic slowdown. Orbis provided bridging funding to the business prior to completing the larger development capital deal and investing in the equity of the business.
The deal has saved 30 jobs, creating an additional 70 and creating a showpiece recycling facility capable of diverting 250,000 tonnes of waste from landfill.