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Greenstar expands through further acquisition
Position in North-West consolidated
Greenstar, Ireland’s leading waste management company, has today (Friday 31 October 2008) announced the partial acquisition of Donegal-based Laghey Waste.
Complementing Greenstar’s acquisition of Waste Disposal Sligo (WDS) in 2004, the deal is part of Greenstar expansion strategy in the North-West and includes the purchase of Laghey’s household and commercial bin collection service in South Donegal and Donegal town. This will add 1,200 customers to Greenstar’s existing base in the area and will consolidate and extend the company’s footprint from Sligo to Donegal Town. Laghey Waste will continue to provide collection services north of Donegal Town and to operate its skip-hire business throughout the county.
This acquisition, which brings Greenstar’s acquisitions to fifteen over the past nine years, follows the company’s announcement in 2006 that it had secured debt refinancing of €200 million to extend its national footprint in the commercial, industrial and domestic waste channels through acquisition and through investment in much-needed critical infrastructure. Greenstar doubled its turnover in the past three years through a combination of acquisitions and organic growth.
Commenting, Jerry Dempsey, Director, Greenstar, said: “Today’s transaction supports the company’s stated strategic objectives of continued regional expansion, ongoing diversification and the strengthening of our household and commercial collection business through the delivery of innovative recycling led solutions.
We are continuing to capitalise on growth opportunities across several fronts. Greenstar’s ambitious growth trajectory gives us a plan to double in size over the next 4 years.”
Commenting, PJ Laghey, Laghey Waste, said: “Greenstar has built a solid reputation in the North West since entering the region in 2004 and we are confident that our customers in South Donegal will benefit from the Greenstar service.”
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