Walsall based waste management business Red Industries has secured a £39m funding package from BGF and HSBC.
The funding has initially supported the acquisition of Environmental Resource Group (‘ERG’), and the newly expanded business is now one of the UK’s largest independent hazardous waste businesses.
Founded by CEO Adam Share in 2006, Staffordshire-based Red Industries has grown significantly – both organically and via acquisition to offer total waste management solutions to customers.
The acquisition of Midlands-based ERG broadens Red Industries’ customer reach and service offering, adding additional waste management facilities, a larger client support team and fleet of bespoke vehicles.
It has also been announced that Alex Sleeth will join Red Industries as Non-Executive Chairman, bringing 19 years’ experience operating at Board level across a wide range of business services sectors.
Adam Share, founder and CEO of Red Industries, comments: “Over the last twelve years, we’ve significantly grown and expanded Red Industries to become a market leader in the waste management sector.
“The acquisition of ERG will help us develop the platform to grow the business even further, and we’re delighted to have BGF on board as partner through this next stage of growth.”