A company which recycles domestic waste and confidential documents for the police and courts has been bought by one of the UK's leading waste management firms. Leicester Paper Processors, of Coalville, which employs 40 staff, has been acquired by Greenstar for an undisclosed sum.

The company, which handles 45,000 tonnes of paper a year, is Greenstar's latest acquisition as it seeks to build a network of plants in the UK.

Bosses said the company's workforce would be unaffected, and shareholders Kevin and Alison Marshall will hold consultancy roles over the next few months.

Mr Marshall said the business, founded by his family 40 years ago, stood a better chance of growing to its potential under Greenstar's ownership.

He said: "This potential can be better exploited by a larger organisation such as Greenstar, who have impressed us throughout our negotiations. We are delighted to have concluded a deal that secures the ongoing prosperity of the business."

The company processes domestic paper, card, plastic, glass and metal waste for Charnwood Borough Council, as well as sensitive documentation for Leicestershire police and courts.

As well as a three-acre site in Ravenstone Industrial Estate, Coalville, it also has depots in Marlow Road, Leicester and Cossington.

The takeover comes two months after Irish-owned Greenstar bought recycling company Firbank Chiltern, of Bedfordshire, and marks the next step in its bid to develop a "feed spine" of smaller recycling sites. The company intends to use these to feed into a network of larger sites, which it plans to develop near urban centres.

Ian Wakelin, Greenstar's chief executive, said: "Leicester Paper Processors gives us the opportunity to develop our combined waste and recycling service which is used by hundreds of commercial and industrial customers across the UK."

Paul Bevan, corporate finance director at Tenon, led the deal, with support from Andy Breeze and Micky Johal. Tax advice was provided by Mike Tuhme. Pip Dawkins, a partner in the corporate team at Nelsons, provided legal advice, assisted by Gary Sells.

Additional advice was provided to Leicester Paper Processors by King Freeman. Greenstar was advised by KPMG and BP Collins.

Source: Leicester Mercury

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