News Stories

Brabners Chaffe Street advises Landmedia on landfill share purchase
18/05/2009

Brabners Chaffe Street has advised Knutsford-based Landmedia Ltd on its purchase of Shanks PLC`s 50% share of Avondale Environmental Ltd and a soil treatment facility at Kinneil Kerse for an aggregate transaction value of £30m.

Avondale Environmental, a landfill site based in Falkirk, Scotland, was previously a joint venture between Landmedia and Shanks Waste Management set up in 1999. The site handles non-hazardous, hazardous and stablised waste, with a significant share of landfill revenues coming from four local councils. It also focuses on providing green energy by converting landfill gases into electricity. It currently exports 8MW of power into the National Grid, enough to supply 8,000 homes.

The purchase, financed by HSBC and private investment, represents Landmedia`s continued commitment to developing effective and innovative waste management practices at the Avondale site, such as investing in an anaerobic waste facility. To support this aim, Landmedia has also purchased a Soil Treatment facility from Shanks Waste Management in an additional transaction for £0.5m.

Partners Mark Brandwood and Caroline Litchfield led a team at Brabners Chaffe Street which advised Landmedia. DLA Piper acted for Shanks and Pinsent Masons acted for HSBC.

"The joint venture between Landmedia and Shanks has been a tremendous success over the past ten years, and this purchase marks an important stage in the site`s development," said Mark Brandwood, partner, Brabners Chaffe Street. "Landmedia will continue to invest actively in the plant`s development to ensure it delivers the best possible service to its customers and the local community."

"This was a complex transaction and its successful completion underlies the quality of the joint venture to date, the vision of all parties involved and the tenacity and expertise of our advisory team at Brabners Chaffe Street," said Derek Cooper of Landmedia.


Back to the news headlines