Biffa
Biffa Waste Services is one of the UK's largest integrated waste management businesses, providing collection, landfill, recycling and special waste services to local authorities and industrial and commercial clients.
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[edit] History
The business was founded in Wembley by Richard Henry Biffa in 1919. The company, then called Richard Biffa Limited, was engaged in the removal and sale of ashes and clinker from London power stations, later adding sand & gravel and waste disposal to its operations. In 1958 Richard Henry Biffa's 19-year-old grandson, Richard Charles Biffa joined as a general trainee with duties including tea boy, yard boy, fitter's mate, driver's mate and routing clerk. From 1960-1963 he took over responsibility for plant operations and maintenance and was made Manager in 1963. He spent the rest of the decade building the company, now called Biffa Waste Services, by acquisition and organic growth and consolidated the company's position the waste management market. He is also widely credited with introducing the now ubiquitous waste skip to the UK, making Biffa a household name.
In 1971 the company was acquired by British Electric Traction. Richard Charles Biffa became Director and Manager of the Waste Division, General Manager of Biffa Limited in 1974, Managing Director in 1975 and Chairman in 1979.
By the 1980s, Biffa was one of the UK's largest and most successful waste disposal companies. In May 1988 the company was floated on the London Stock Exchange with a value of £52 million.
BET sold the company to Severn Trent plc in 1991.[1], The company continued to grow from 1991. Biffa was demerged from Severn Trent plc on 9 October 2006 giving Biffa an initial market capitalisation of £932.4m and a turnover of £712.3million in 2005/6[2]. Biffa made good profits in the first year after flotation.[3]
The company was taken private again in April 2008 by WasteAcquisitionco, a consortium of three private equity and investment companies. The deal valued Biffa at around £1.2 billion.[4]
[edit] See also
[edit] References
- ^ Severn Trent History
- ^ Caledonian Economics (2006) Financial Review of the Wastet Management Industry, October 2006
- ^ Biffa profits rise in first set of independent results, www.letsrecycle.com. Retrieved 6.12.06
- ^ "Biffa's recommended takeover by WasteAcquisitionco approved by shareholders". AFX News (Forbes). 12 March 2008. http://www.forbes.com/markets/feeds/afx/2008/03/12/afx4763981.html. Retrieved 2008-04-04.
