Wastewise secures new shareholder deal with Ashcourt Group

Wastewise, the Hull-based recycling and waste management firm, has announced that construction group Ashcourt will become a new minority shareholder.

Following the departure of Dan Ingram, who after 15 years has decided to exit Wastewise to focus on his farming and property development interests, a deal has been agreed for Ashcourt to acquire Dan’s minority share in the company.

Wastewise specialises in the collection, recycling and composting of over 100,000 tonnes of waste a year for public and private sector clients.

The company has grown from around a £2m turnover in 2013 to a projected turnover of £7m for the end of 2016.

Ashcourt is involved in property development, plant hire, civil engineering, construction, haulage, concrete, quarrying and recycled aggregates.

James Landau, managing director Wastewise, said: “This new partnership with the Ashcourt Group will have an unprecedented effect on the future of Wastewise and the business we are in.”

“There are many areas of common interest between the two companies and like us, Ashcourt is adding to its portfolio offering and growing its business.

“Ashcourt’s future involvement in Wastewise will bring a number of exciting opportunities that the new Board will look to capitalise on.”

Plans include an extension to the Wastewise service offering and the firm has already started operating from Ashcourt’s central Hull site.

From a financial perspective, Ashcourt will assist Wastewise in investing in its future waste-processing infrastructure, which includes materials recycling, biomass and alternative fuel production facilities as well as enabling the company to expand geographically, covering more of the Yorkshire and Humber region and potentially beyond.

Leigh Churchill, finance director at Ashcourt, commented: “We have been greatly impressed with Wastewise and the developments it has made in a relatively short time.

“This new shareholder deal will strengthen both parties allowing us to offer an even better, all-encompassing service to our customers. We are looking forward to getting more involved with Wastewise and to the new horizons this brings.”