Viridor

Viridor Ltd (from the Latin 'to become green') is a recycling, renewable energy and waste management company in the United Kingdom, owned by KKR[1] (previously owned by Pennon Group).

Viridor Limited
TypePrivate limited company
IndustryWaste
Founded1956 (as Harrison Western Limited)
HeadquartersViridor House, Priory Bridge Road, Taunton, Somerset, UK
Number of locations
320 facilities
Key people
Ian Wakelin (Board Chair)
Kevin Bradshaw (Chief Executive Officer)
Nick Maddock (Chief Financial Officer)
Paul Ringham (Commercial Director)
OwnerKKR
Websitewww.viridor.co.uk

History

The company was formed in 1956 as Harrison Western Ltd, later becoming Haul Waste Ltd. Haul Waste became part of Pennon (then South West Water Ltd) in 1993,[2] and grew by purchasing companies in the waste collection and landfill disposal market.[2]

In 1995 it bought Blue Circle Waste Management, bringing about in 1998 South West Water's name change to Pennon Group, and the merger of Haul Waste and Blue Circle Waste Management under Viridor. It subsequently acquired part of Churngold's waste business in June 2003, Thames Waste Management in 2004,[3] Somerset LAWDC Wyvern Waste in 2006,[4] Grosvenor Waste Management[5] and Skipaway Holdings in 2007,[6] and Shore Recycling in 2008. Later in 2015 Viridor took over the collection side of Dorset based waste company Commercial Recycling.[7]

Today the business is valued at around £4 billion,[8] with recent acquisitions and growth focused on expanding the company's recycling and energy from waste capacity. Viridor was awarded the Greater Manchester Waste PFI contract, the largest waste and renewable energy contract in the UK.[9]

On 12 August 2010, the company was featured on Channel 4 documentary Undercover Boss,[10] in which Chief Executive Colin Drummond went undercover as a new recruit inside the company.

In March 2020, Kohlberg Kravis Roberts agreed to buy Viridor in £4.2bn deal.[11] The transaction was completed on 8 July 2020.[12]

Viridor Credits

As part of the Landfill Communities Fund tax credit scheme, Viridor created the Viridor Credits scheme which in 2001 to distribute funds to communities for heritage and biodiversity projects.[13] They reported £7.6m in grants in 2017/18.[13]

See also

References
  1. "Pennon sells waste business Viridor to private equity firm KKR in £4.2bn deal". CityAM. 18 March 2020.
  2. "Pennon Group: History".
  3. "LetsRecycle.org is for sale on biix. | (Lets Recycle)". www.biix.com.
  4. Editorial, Reuters. "PNNEUR.DEp - Profile | Reuters". www.reuters.comundefined.
  5. "Recycling and Waste Management News". letsrecycle.com.
  6. "Pennon Group's Viridor acquires UK waste management company for £14.7m". Archived from the original on 23 February 2014. Retrieved 1 April 2015.
  7. "Pennon buys recycle firm for £23m". 25 March 2008 – via news.bbc.co.uk.
  8. "Talk grows of Viridor sale - letsrecycle.com". www.letsrecycle.com. Retrieved 16 January 2020.
  9. State of the Art Technology for Greater Manchester, www.gmdwa.gov.uk, Retrieved 19 October 2007
  10. Channel 4 - Undercover Boss Series 2 Episode 5 Retrieved 12 August 2010
  11. "Proposed Sale of Viridor for £4.2 billion to KKR | Pennon Group PLC". www.pennon-group.co.uk.
  12. "KKR to buy recycling group Viridor in £4.2bn deal". FT.com. 18 March 2020.
  13. "Viridor Credits". Viridor. Retrieved 8 March 2020.
This article is issued from Wikipedia. The text is licensed under Creative Commons - Attribution - Sharealike. Additional terms may apply for the media files.