| Name : | Nordic Limited |
|---|---|
| Date of first investment: | July 2005 |
| Location : | UK |
| Amount invested : | €8.7m |
| Activity : | Waste recycling, processing and management |
| Type/Stage : | Buy out |
| Revenues : | €30m |
| Transaction size : | N/D |
| Board members : | Bill Robinson |
| Date of realisation : | June 2007 |
The Business
Nordic Limited is involved in the collection, processing and management of waste, particularly paper. The company operates a port and baling facility at Chatham Docks which processes and dispatches recycled paper to customers, primarily paper mills, in the UK, Europe and the Far East. Waste is collected from Nordic's direct client base and from third parties. The company was established in 1994 and has experienced significant organic growth in the past decade under its existing management team. In addition to waste management, the company also handles imported newsprint and has a document storage operation.
The Management
The MBO team is led by Group Managing Director, Colin Price and Patrik von Hacht the Finance Director, both of whom have been involved in the business for many years.
Strategic Development
Nordic is progressing well with its organic growth strategy. It has won a major new contract for its port terminal operations and is planning significant expansion of its recycling activities. Nordic also has funding available to pursue acquisitions within the sector.
On 29 June 2007, Milestone Capital and management sold Nordic to Forth Ports plc, generating a 4x return for Milestone over 2 years.
