Biffa plc has acquired Simply Waste Solutions in the south of England. Biffa has acquired 100% of the share capital of Camo Ltd, which trades under the Simply Waste brand, for an upfront debt and cash free consideration of £35m. This will be funded from existing committed debt facilities.
For the year ending 31 March 2020, Simply Waste reported revenues of £32m, EBITDA of £5.2m, operating profit of £3.1m and gross assets of £16.4m. A potential further consideration of up to £5m may become payable, depending on the performance of the business through to 31 March 2021.
Simply Waste is a prominent, well-regarded operator in the south of England. Its operational locations in West London, Oxfordshire and Bristol align well with Biffa’s existing portfolio, and once merged into the Biffa I&C collection network will result in an enhanced customer proposition and a lower-carbon, more efficient collection network.
