Shoosmiths Corporate Team Advises on Sale of Recycling Experts Valpak
January, 2019 - Birmingham, England
The corporate team at Shoosmiths has advised the shareholders of Warwickshire-based environmental compliance experts Valpak on its sale to Telford-based Reconomy, the UK’s leading provider of outsourced waste management and recycling services, for an undisclosed sum.
The Shoosmiths team was led by Alistair Hammerton, and Ben Turner, with support from corporate solicitor Nick Little, tax partner Kate Featherstone, tax solicitor Grace Endley, banking partner David Adams, employment partner Charlie Rae and pensions partner Lynette Lewis.
Alistair said: “We are incredibly proud to have advised Valpak’s shareholders on this sale. Following publication of the government’s Resources and Waste Strategy, the waste industry is set for significant change over the next few years, including higher recycling targets, improved transparency and increased focus on data and digital recording. The acquisition of Valpak by Reconomy will allow both companies to deliver on their shared vision of supporting clients’ needs and leading the industry through technological change. We wish them all the best.”
Valpak CEO Steve Gough said: “The legal advice from Alistair and the Shoosmiths team has been exceptional throughout and we’d like to thank them for the hard work they’ve put in to ensure we’ve got the right deal for our shareholders. Being part of Reconomy will help us to address the big changes coming in the industry and to support our members’ needs while benefiting from being part of a larger group that shares our culture and vision.”
Valpak, which is the UK’s largest provider of outsourced producer responsibility compliance in packaging, electrical equipment, batteries, hazardous materials and chemical substances, among other forms of waste and recycling, will continue to operate as a separate business and brand within the Reconomy group of companies.
The company was formed in 1997 and has in excess of 4,000 customers including many prestigious blue-chip clients.
Other advisers acting on the sale were Clearwater International and PwC, while Reconomy were advised by Eversheds and KPMG.
