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Altium advises Augean on Colt acquisition

International investment bank Altium has advised UK leading specialist waste management business, Augean plc (AIM: AUG), on its acquisition of Colt Holdings and its wholly owned subsidiary, Colt Industrial Services.

The latest deal represents Altium’s 24th in the energy waste and renewables sector.
 
Augean had previously indicated its intention to accelerate the delivery of its core strategy of developing sustainable market positions by acquiring businesses that provide clear operational and market synergies in its key market sectors, with the undertaking that any such investments, whether organic or through acquisition, grow the asset base of the Group and provide superior returns for its shareholders.
 
Based in Hull and established over 25 years ago, Colt provides a broad range of industrial services, which complement Augean’s existing service offering, to a range of customers including major industrial companies, oil refineries, rail and utilities. 
 
The Acquisition of Colt is in line with Augean’s strategy and enhances its offering with UK-wide coverage of specialist industrial services that complement and expand its existing service, treatment and disposal infrastructure; relationships with top-tier companies that have a requirement for hazardous waste disposal; and expertise as an acknowledged leader and innovator in the specialist technical aspects of industrial cleaning, such as tank and heat exchanger cleaning.
 
The team at Altium was led by managing director, Adrian Reed with support from Paul Lines, Tom Battersby and Matt Furness.
 
Adrian Reed, Managing Director and head of European Energy & Sustainability at Altium, says: “We are pleased to have acted on behalf of Augean and hope to continue to strengthen our relationship with the management team over the coming years.
 
“The acquisition of Colt complements Augean’s already significant waste treatment and disposal infrastructure and growing capacity for delivering client site industrial services.”
 
Dr Stewart Davies, chief executive officer at Augean, adds: “We are delighted to announce the acquisition of Colt as we continue to strengthen Augean’s position in the UK hazardous waste management market. The acquisition is immediately earnings enhancing and creates synergies with our existing service offering, enabling the Group to address a wider breadth and depth of client needs and adding new top-tier clients. It also accelerates our strategy to grow shareholder value by developing sustainable market positions and providing customers with innovative solutions.”

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