Banham Compost, a Norfolk-based commercial composting business,
has been bought out by organic waste specialist TEG Group in a £3.1
million (€3.6 million) deal, funded through TEG’s £1.3 million
assumption of Banham’s asset finance facility and £1.9 million
raised on AIM.
Compared to the cost of funding a new development, the terms of
the deal were financially prudent, said TEG, the buyer.
“On the back of recent and exciting progress by the company,
this acquisition represents yet another significant step in the
continuing roll-out and endorsement of TEG’s composting technology
as an attractive, efficient and cost effective alternative to
landfill and other forms of ABP disposal, across the country,” said
Mike Fishwick, chief executive of TEG.