Bears Bidco completes £1.3bn acquisition of Biffa
Biffa, the High Wycombe-based waste management firm, has been acquired by Bears Bidco, a company newly created by Energy Capital Partners V, for £1.3 billion.
As part of the transaction, which was originally announced in September of last year, Biffa’s shares have ceased trading and will no longer be listed on the London Stock Exchange, with its shareholders receiving 410p in cash per ordinary share.
According to a press release from Energy Capital Partners, the enterprise value of the transaction is around £2.1 billion. Biffa were advised on the transaction by a team from Linklaters which included corporate partners Jonathan Sadler and Michael Fanner and employment & incentives partner Cara Hegarty.
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"We are pleased to complete our acquisition of Biffa and to partner with such an exceptional leader in the waste management space," said Andrew Gilbert, Partner at ECP.
"The closing of the transaction marks an important milestone in this exciting next chapter for Biffa," said Michael Topham, CEO of Biffa.
“"As we continue to invest in our leading position in UK sustainable waste management, leveraging ECP's deep environmental infrastructure focused expertise will allow us to accelerate our growth, enhance our capabilities and continue to change the way our customers – and our economy – thinks about waste."
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