Management buyout of a leading waste treatment business

BUSINESS OVERVIEW

Enpure is the £19.1m management buy-out of Purac, a leading process engineering, technology and project management company serving the water and environmental sectors, from AWG Plc.

The business has also successfully targeted the growing need for engineered solutions in the municipal solid waste treatment market. As a leading player in the market and the driving force behind many technological improvements, Enpure is extremely well placed to benefit from the growth in the wider waste management sector.

OUR ROLE

Orbis advised Enpure on its financial forecasting and structuring an appropriate funding package.

Orbis’s problem-solving expertise and experience was put to the test with a deal that was complicated by the difficult banking market following the credit crunch and economic slowdown. In addition, the cyclical and capital-intensive nature of the project based business provided a challenging environment to secure a suitable funding package.

Orbis led the deal to ensure funding was secured with equity funding provided by Spirit Capital (formerly Aberdeen Asset Managers Private Equity) and a debt package of senior, working capital and bond facilities provided by Bank of Ireland.