Meta advises Regen Devco in the acquisition of AIS, the total waste management business, from Augean plc.
Regen Devco (“Regen”), an investment vehicle owned by Regen Holdings Limited has acquired AIS, the circa £8m revenue specialist waste brokerage business from Augean plc.
Edward Pigg, Managing Director of AIS, said: “We are very pleased to be working with Regen who have acquired the business I led within Augean’s waste portfolio. Once the decision to exit the business was made, my team were very pleased that Regen were identified as an ideal new owner to take the business forward. Augean continue to work with us under a three-year agreement for hazardous waste disposal and treatment and all 35 AIS employees transferred with the business.”
Mark Ledger-Beadell, Managing Director at Meta Corporate Finance, said: “AIS is a fairly unique asset in the waste industry in terms of depth of market knowledge and intelligent approach to total waste management solutions for their clients. Regen is an excellent partner and well aligned with the ethos of customer care that AIS followed.
We worked closely with Regen and the target company’s management team to help them execute this transaction within the parameters agreed with Augean.”
AIS was acquired for £3.8m from Regen’s own resources. James Astor, Chairman of Regen Holdings, said: “This is a strategic acquisition which will enable Regen to offer more waste management services to our existing customers. We are extremely excited to be working with Ed and the rest of the team at AIS and look forward to growing the AIS business together with them. Regen continues to look for other companies in the sector to invest in or acquire, targeting businesses with strong teams and growth prospects and a focus on delivering service that their customers rate as outstanding.”