SAICA - Acquisition of Futur Recycling
Catalyst advised S.A. Industrias Celulosa Aragonesa CIF (SAICA) on the acquisition of Futur Recycling.
SAICA is a Spanish privately owned integrated paper recycling group with a head office in Zaragoza and employing 9,000 people across Europe. Its operations include paper recycling and collection, three paper mills and 45 corrugated packaging plants.
SAICA is currently building a 500,000 tons per annum paper mill in North West England at a cost of £290 million.
Futur Recycling is a privately owned waste management business headquartered in Malmesbury with commercial clients operating within the distribution, retail and food manufacturing sectors across the UK. Futur Recycling processes c180,000 tons of waste per annum, the majority of which is paper and cardboard.
What difference did we make?
SAICA appointed Catalyst to complete a market map of the UK paper and cardboard recycling businesses.
Following this strategic review SAICA mandated Catalyst to approach the shareholders of Futur Recycling and negotiate to acquire the business. Catalyst led the approach to the shareholders and negotiated the key terms of the deal. Catalyst then project managed SAICA's acquisition process including commercial, financial and legal due diligence.
Key to our role was understanding SAICA's UK strategy and M&A processes and acting in our role as their UK based corporate finance advisor. Catalyst's deep knowledge of the waste sector helped to secure a key strategic acquisition at the right price and on acceptable terms to SAICA. This deal highlights Catalyst's strength in leading and completing a transaction in a challenging M&A environment and acting for overseas acquirers with a limited UK presence.
Managing Director, SAICA Natur