Springboard provides chemistry in NVM funded transaction
March, 2015 - Birmingham, England
Springboard Corporate Finance is pleased to announce that it has advised NVM Private Equity (“NVM”) and management on combining two innovative providers of eco-friendly biological cleaning and waste treatment solutions: Cleveland Biotech (“CBio”), an existing portfolio company of NVM, and Biological Preparations (BP).
CBio, based in Stockton on Tees, focuses on providing food, oil and grease (“FOG”) management and supplies its products to a wide range of food service establishments.
BP, which is headquartered in Cardiff, in addition to providing FOG management services, specialises in the development of biotechnology solutions across a number of sectors including food and drink, water treatment, agricultural and cleaning services.
The enlarged business will become the largest UK market leader in biological solutions for commercial cleaning and FOG management.
Springboard Corporate Finance, with a team led by partner David Neate and assistant director Rob Johnson, advised NVM on combining the two businesses. Commenting on the transaction, David Neate said: “Businesses are coming under increasing pressure to deal with their waste in an environmentally friendly manner. This is driving demand for “green” biotechnology solutions for waste control and cleaning. The combination of CBio and BP, with the financial support of NVM, will enable the enlarged group to capitalise on these exceptionally positive market trends. We are delighted to have supported NVM and management on this transaction.”
