Derbyshire metal brokers KJB Consulting agree purchase of Peterborough Metals Recycling

The deal will see KJB Consulting’s workforce grow from 15 to 70 strong with the addition of 55 employees from BW Riddle, which was formed in 1956, and increase turnover from £25million to £90million.

Chief executive of KJB Consulting, James Bowers, said: “We’re absolutely delighted to announce we have acquired BW Riddle and believe this places our business in a strong position to continue our ambitious growth targets.

“It has been an exciting process working with our advisors to make this acquisition possible and I’d like to thank everyone involved. The team at BW Riddle are ultimate professionals – we’re very much looking forward to welcoming them into the KJB Consulting family.”

KJB will also take over the running of BW Riddle’s head office and 32-acre site in Bourne, Lincolnshire, and its other three metal recycling sites at Peterborough in Cambridgeshire, Boston in Lincolnshire and Corby in Northamptonshire.

Tom Bird, current president of the Bureau of International Recycling, who has also held several senior positions at major recycling firms, will be KJB Consulting’s new executive chairman.

James said: “As a broker we’d probably hit a ceiling in terms of how much bigger we could get and the services we could offer clients, so purchasing a firm that enables us to now have three yards takes us to the next level. Having Tom on board is a brilliant addition to our team.

“BW Riddle is a family business with 60 plus years of trading, good yard locations, strong infrastructure and a fantastic reputation, not only locally, but across the UK. Our message to existing customers and staff is that it is business as usual and we look forward to working with you.”

Lexington Corporate Finance advised on the deal alongside fellow Cardiff-based firm Capital Law. Harwood Private Capital provided financial support and advice.

“The synergy between the two organisations and the potential for future growth has been a driving factor in this deal from the outset,” said Sinead Johnson, who led the advisory team, which included Courtney Mattocks and Pablo Shorney from Lexington Corporate Finance.

“The mix of debt and private equity finance, the involvement of different entities and the plans for full integration of the businesses has been complex in nature. The pragmatic and collaborative approach adopted by all parties has created a major player in an industry that is undergoing major change and is pivotal to the growth and decarbonisation aspirations of governments and companies across the globe.”