Filta Group Holdings plc (AIM: FLTA), a provider of fryer management and environmental services to commercial kitchens, has announced the acquisition of WatBio Limited for a total consideration of around £7m.
WatBio - which includes Watling Hope Environmental Biotech - provides a range of fat, oil and grease control, and management services for many of the UK’s leading restaurants, including grease traps, biological drain treatment and grease removal systems.
The acquisition, which comprises both cash and shares, will further strengthen Filta Group’s own grease management solutions which are provided through FiltaGMG, based in Rugby.
Since the acquisition of Grease Management Limited (“GMG”) in August 2017 Filta Group has been seeking strategic opportunities to gain critical mass in the grease management industry.
Jason Sayers, CEO of Filta, commented: “We are delighted to have acquired WatBio, which is one of the country’s largest grease management companies, with a number of major blue chip customers nationwide.
“We have seen significant growth in our grease management business over the last 12 months and the purchase of WatBio is a perfect fit, which will propel us into the top league of service providers in the UK.”
As well as grease management services, WatBio also provides an additional range of complementary services, including wastewater pumping and treating, and a one stop shop for drainage issues through its drain jetting and vacuum tankering facilities.
Filta’s purchase of WatBio will leverage the combined skills and breadth of knowledge across both businesses, further improving customer service delivery and the breadth of quality solutions available.
Based in Stratford-upon-Avon, WatBio has an annual turnover of around £10m and 85 staff who will all be retained bringing the combined workforce across the expanded Filta Group to approximately 150 people. Watbio’s business will continue to operate under the leadership of managing director Edward Palin, who will work closely alongside Debbie Sarson-Lowe who remains managing director of Filta UK.
Commenting on the benefits the acquisition brings, Jason Sayers added: “We are confident that by combining best practice across both businesses customers will benefit from enhanced resources, experience and product breadth, as well as the upgraded service, systems and controls Filta Group has become known for. This in turn will bring improved efficiencies, productivity and shareholder value across the expanded company.”