We advised on the sale of Ecofficiency Limited to Reconomy Group

Our Deal advisory team is delighted to announce that it has advised on the successful sale of Ecofficiency Limited, a leading national provider of waste and materials management solutions, to Reconomy Group. The sale competed on 19 June 2023, and will expand Reconomy’s service offering while supporting its mission to drive a more circular economy.

Based in Yorkshire, Ecofficiency’s service offering includes recycling services via its specialist soil sampling and remediation division, which reduces waste soils by removing hazardous materials and retaining non-hazardous soils on site. Ecofficiency operates throughout the UK from its headquarters in Doncaster, and generated c. £17m revenue in its most recent financial year.

We were the lead financial advisor on the deal and supported in negotiating net debt and normalised working capital adjustments to deliver the best value for Ecofficiency.

Ecofficiency was advised on the sale by Alex Baskeyfield, Chris Dale and Rhys Norman from Mazars’ M&A Deal Advisory function. Sandy Cowan and Alex Kingston from our SPA Advisory team provided additional support and advice. Sandip Khroud, Rebecca Bennett, and Hamzah Mahmood from Hill Dickinson’s Corporate team also advised on the deal.

Chris Dale, our M&A Director, said: “This deal represents a fantastic result for both parties: the shareholders have built a highly successful Yorkshire business with a national customer base that has delivered significant growth, and Reconomy has gained a key strategic asset to broaden its service and end-market offering within the group.”

Simon Raven, Managing Director and former Shareholder of Ecofficiency said: “We chose Mazars to represent us as our lead financial advisor because of their strong credentials and their personable approach. We are particularly indebted to Alex, Chris, and Rhys for their diligence, careful advice on complex elements of the deal structure and overall process management which helped to guide the deal towards a successful outcome.”

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