Business: Specialist environmental and automotive waste management group
Date acquired: March 2005
Strategy: Andy Hinton and Nick Wyatt acquired a majority shareholding in automotive waste specialist, Credential Environmental. It became the cornerstone of a new group comprising specialist waste and environmental businesses in complementary niche markets. Recently a more focussed strategy has enabled the sale of non core assets.
Outcome: Credential Environmental has grown into a market leading specialist in the collection and recycling of automotive waste, focussed particularly on scrap tyres.
With a turnover of approximately £5M, the group has sites in Selby, and Wednesbury with a small HQ in Newton Aycliffe. The company employs over 50 people. It is at the forefront of the growing automotive waste sector, developing new products and innovative safe waste management techniques. With more stringent waste disposal legislation and environmental directives, there has been a significant increase in demand for specialist services, particularly in the automotive sector. The company has developed a series of contracts with blue chip companies for recycled products.
In October 2012, the company extended its operations by completing a full insourcing agreement of the tyre collection operations of Saltire Recovery Ltd.
More recently, the company has developed a significant partnership with Midland Tyre Collections to increase its collection capability and reach and is close to securing further agreements with other collection partners.
The company has also invested further in processing capability at the Wednesbury site to improve product quality, to provide a baling capability and to extend the company’s range to include truck tyre processing.
Following an extended period of positive trading, the business was sold to Murfitts Group in December 2020 for £3.5M.