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Azets and DWF advise on multi-million-pound waste management acquisition

Azets and DWF advise on multi-million-pound waste management acquisition

Midlands-based MAC Waste Management acquires WCL Quarries Limited and Drygon 8 Limited

Azets, the UK's largest regional accountancy and business advisors to SMEs and DWF, the global legal business, are pleased to announce that their Corporate Finance teams have advised Midlands-based waste management and recycling business, MAC Waste Management UK Limited, on its acquisition of WCL Quarries Limited and Drygon 8 Limited.

MAC Waste Management UK Limited is part of the MAC Group of companies, which specialises in the removal and recycling of construction waste. The group also operates a portfolio of skip hire and other waste disposal businesses.

MAC Group is privately-owned by entrepreneur Marcus Clay, who has acquired WCL Quarries Limited and Drygon 8 Limited as strategic investments as a long-standing customer of WCL Quarries Group, which operates two quarries and is involved in the recycling and disposal of inert construction waste and the sale of quarried and recycled aggregates.

The multi-million-pound transaction was funded by Cambridge and Counties Bank, with Azets advising Mr Clay as part of a well-established partnership that spans several years and four previous acquisitions. Azets was appointed due to its trusted relationship with Mr Clay, built over many years, and particular expertise around complex business structures.

Azets supported the acquisition from inception through to completion, providing specialist corporate finance advisory services including deal structuring, negotiation and project management on behalf of MAC Waste Management. Azets was also instructed to carry out financial due diligence on WCL Quarries Limited and advise on tax-related matters in association with the transaction.

Azets worked closely with the client’s legal advisors, DWF.

Commenting on the acquisition, Marcus Clay, said: 

“This is the fifth acquisition the teams at Azets and DWF have supported us on and we’re delighted to have completed the deal. As ever, Azets and DWF were on hand to ensure the process went smoothly and get us over the line providing us with clear, pragmatic and commercially focused advice. The purchase of WCL Quarries and Drygon 8 is an important, strategic milestone for MAC Waste Management and the personal approach from Martin Poole and Mark Gibson and their respective teams was invaluable in unravelling the complexities associated with the transaction. We look forward to working with Azets and DWF again on future potential transactions.”

Martin Poole, Corporate Finance Partner at Azets, said: 

“This strategic acquisition complements MAC Waste Management’s existing business. It will enhance the group’s market position and enable it to further benefit from large infrastructure projects such as HS2. We’re pleased to have completed the deal and proud to have once again demonstrated our technical expertise and customer-focussed services in a significant multi-million-pound deal.”

Mark Gibson, partner and Head of Corporate at DWF in Birmingham, said: 

"Having worked closely with Marcus and the MAC Group of companies over a number of years, it's been a pleasure to support the business in achieving these latest strategic acquisitions."

A L P Ambrose Minerals, Greenfield Finance, and Cambridge and Counties Bank also acted on behalf of MAC Waste Management. RG Corporate Finance, The Wilkes Partnership, and Inspired Accountants acted on behalf of WCL Quarries Group. Freeths acted for Cambridge and Counties Bank.

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