Waste services group NWH snaps up Dundee wood recycler
The deal, for an undisclosed sum, will see ten DJ Laing staff transfer to family-run NWH and add some £1.8 million to its turnover, with the group planning to increase the Dundee site’s output of fuel for sustainable energy and recruit more employees.
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Processing recycled wood into biomass for energy plants, the six-acre Petterden site currently supplies about 60,000 tons of biomass a year.
NWH managing director Mark Williams said: “This acquisition represents the addition of a new product to our portfolio, and ensures we have the in-house expertise to further process our wood waste into a product which can be taken to a sustainable end use.
“It means that we are in better control of wood commodity prices, stabilising the market for our customers, and ensuring that the wood is being recycled responsibly.”
The deal was financed with the support of a revolving credit facility with Royal Bank of Scotland. NWH, which is based in Dalkeith and employs 275 staff across five sites, was advised by Wright, Johnston & Mackenzie. DJ Laing was advised by Stewart Brymer Legal.
David Laing, managing director at DJ Laing, said: “I have always had a special interest in waste recycling and enjoyed our company’s role in pioneering wood recycling in Scotland.
“I’d like to thank the Petterden team for all their hard work and commitment throughout the past 25 years. I look forward to seeing the team and the business continue to progress with NWH.”