Pennon Expands with Acquisition of JWT
Waste collection and recycling business JWT Holdings has been acquired by Pennon in an effort to expand its waste management activities, particularly in the collection, recycling and energy recovery sectors.
Based in Atherton, Greater Manchester, JWT was sold by John William Thomasson for a total consideration of £7.6m (6.58m cash plus acquired no debt). JWT employes 45 staff and handles in the region of 70,000 tonnes of material each year.
Pennon’s subsidiary Viridor Waste Management made the acquisition and it will see JWT’s Materials and Recycling Facility and fleet of 29 vehicles integrated into Viridor’s northern region.
Viridor’s Chief Executive Colin Drummond said: “The acquisition of JWT provides excellent synergies with Viridor’s existing activities in Manchester and across the North West.
“It compliments other recent acquisitions in the region and Viridor’s development of the Uk’s largest waste fired Combined Heat and Power facility at Runcorn, the first phase of which will be operational in 2013. The acquisition is expected to be earnings enhanced in its first full year.”