Member Article

Remondis acquires Newcastle-based waste management firm JBT

Newcastle-headquartered JBT Waste Services Limited has been acquired by German waste management group Remondis, part of the Rethmann Group, for an undisclosed fee.

Founded in 1972 by John and Glynis Binks, the duo have grown the business into one of the North East’s longest standing waste collection and treatment companies.

Operating from two sites in Bedlington and Birtley, north and south of the River Tyne, the firm processes over 220,000 tonnes of waste per annum, employing 150 staff.

Remondis UK currently offer hazardous waste services through its collection and treatment operations in Prescot located between Manchester and Liverpool.

With the JBT acquisition, Remondis will be able to complete its portfolio with a view to becoming one of the major full-service suppliers on the UK waste management market.

John Binks, CEO and founding shareholder of JBT, said “In spite of its impressive scale, the family-owned structure of the Remondis group and the mindset of the Remondis people are based on very similar philosophies to our own.

“This is why we believe that Remondis are a natural fit for JBT and its employees and a strong partner to further diversify our activities and develop the business as a whole.”

Steve Patterson, Managing Director of Remondis Waste Solutions Ltd, continued “JBT has experienced impressive growth in recent years thanks to clear strategic vision, a highly skilled and committed workforce and a strong management team.

“Together with Graham Palmer and David Binks who have made a valuable contribution to the growth of the business in recent years and who will remain in their current roles, we look forward to continuing the JBT success story and providing all our customers with the high level of service they are used to.”

The Leeds office of international accountancy firm Mazars advised on the sale.

Corporate finance partner, Rob Burton, who led the team from Mazars, commented: “This has been a great deal to work on and we are delighted to achieve a successful outcome for the shareholders of JBT.

“The deal enables Remondis to enter this sector in the UK market and there is a strong cultural fit between the two companies. The deal highlights continued cross border investment with strong performing regional businesses still able to attract interest from overseas buyers.”