Wetherby-based Augean, one of many UK’s leading specialist waste management businesses, today announces that this has removed the complete issued share capital of total waste management broker, AIS On a Regen Devco Limited, a subsidiary of Regen Holdings Limited for 3.8m.
Regen Devco, a subsidiary of Regen Holdings Limited, located near Grantham.
AIS Limited reported an income of 8m, EBITDA of 500,000 and losses of 400,000 to the year ended 31 December 2017.
As part of the disposal, all 35 AIS employees will transfer together with the AIS business. AIS has signed a three-year exclusive supply agreement to use Augean due to its hazardous waste disposal and treatment. It will add some East Kent Warm Incinerator which Augean will retain.
?Jim Meredith, Executive Chair, says:?“We are content to announce the disposal of AIS to Regen Devco while retaining the continuing hazardous waste disposal. This transaction forms a part of our intend to streamline the team, give full attention to cash generation to relieve debt while keeping your focus on rebuilding the core strengths of your Group dancing.”