Business: Betta Special waste plus other hazardous waste assets , trading as CE Hazardous
Date sold: June 2007
Strategy: Ailsa3 combined a series of assets in the hazardous waste sector and developed a business that would prove attractive to an experienced operator.
Outcome: Ailsa3 acquired Betta Special Waste, the company that made up a large part of the CE Hazardous in May 2006 for £1.6million. This business was combined with other assets in the hazardous waste sector that were acquired as part of the Credential Environmental acquisition in 2005. The division grew in value rapidly, before CE Hazardous was sold to AIM listed hazardous waste specialist, Augean plc, for £8.13m.
The deal included the sale of the hazardous division, the freehold of the hazardous waste transfer station in Worcester, plus an option to purchase the hazardous waste transfer station in Hinckley. These properties amount to a value of £2.4m, taking the overall deal size to £10.5m.