Editorial - 0161 482 6220 | Advertising - 0161 482 6224/6222

The voice of the skip hire, recycling and waste industries in the UK & Ireland.

Waste management firm Serious completes management buy-out

Waste management firm Serious completes management buy-out

SME credit fintech Caple and Close Brothers have supported the management buy-out (MBO) of Serious, a sewage, grease and waste-water management company.

The investment has enabled existing managing director Jeremy Proctor, who has been running the business for the last four years, to buy out the founding shareholders with the help of two other business partners. The founding shareholders were non-operational.

The MBO will enable the firm’s next phase of growth. The management team can now implement its plans and invest in the business. As a result of the transaction, the business expects to grow by around 50% in the next two years and create up to 20 new jobs.

Dominic Buch, co-founder and managing partner of Caple, said: “Serious is a successful business with an excellent management team. To invest in the business that team needed to be able to buy out the retiring shareholders.  Our deal demonstrates how we can support a new generation of owners with the finance they need to innovate, implement their expansion plans, and drive growth. 

“With the economy still recovering from Covid, we need to support this new generation of owners to provide the growth and jobs that the UK urgently needs.” 

Staffordshire-based Serious serves more than 15,000 commercial and domestic customers from six UK depots. These include Marston’s, Whitbread’s and Admiral Taverns from the pub and leisure industry. Customers also include football clubs such as Everton FC and Wolverhampton Wonderers to local authorities such as Cheshire East, Severn Trent Water and Scottish Water. 

Serious offers a breadth of services including engineering, installation and project management. The MBO also enables Serious along with its new business partner, Robert Menzies, MD and owner of Able Services PDM to offer its clients a one-stop shop for all sewage, grease, drainage and waste-water management services. 

Jeremy Proctor, Managing Director of Serious, said: “Having run the business for the last four years, the management team know what we need to do to grow. Serious has a fantastic customer base and we need to invest due to a growth in sales with some exciting new contracts but to implement these plans we need to take ownership. With the help of our new business partners and the funding from Caple and Close Bro’s this has enabled us to complete the MBO, take control of the business and put our plans into practice.” 

Comments are closed.