H2 Equity Partners (“H2”) is pleased to announce that it has agreed to acquire Ballast Phoenix Limited (“Ballast Phoenix”), the UK’s leading Incinerator Bottom Ash recycling group, from Ballast Nedam NV.
Ballast Phoenix based in Bourne – Lincolnshire, employs 82 FTE and has seen significant turnover growth in recent years. The company processes and recycles the ash produced by Energy from Waste (“EfW”) plants and creates sustainable IBA aggregates, thus avoiding any requirement for the use of landfill. Ballast Phoenix operates 7 IBA recycling sites throughout the UK and works in close conjunction with operators of EfW plants as well as its aggregate and metal customers. As the only market participant fully focused on IBA recycling and operating a national network, H2 believes the company is uniquely positioned to continue its impressive growth during the years to come.
H2 Equity Partners plans to build on Ballast Phoenix’s strong position in the IBA recycling market to take the company forward in the coming years. H2 and management will work together to expand the national network, continue to develop market leading and sustainable technologies and to provide Ballast Phoenix’s customers with a leading and professional partner. H2’s investment will allow Ballast Phoenix to embark on the company’s largest capital expenditure program in its history and significantly expand the number of recycling facilities it operates in the next few years.