A cross-office team from Gateley has advised on a deal that saw Dublin-based One51, an investment company with expertise in environmental services, renewable energy and injection moulding plastics, acquire Straight, a Yorkshire-based supplier of waste and recycling solutions, for £10.7m.
Founded in 1993 and floated on AIM in 2003, Straight manufactures waste and recycling containers for customers including local authorities, purchasing and recycling organisations and utilities. Straight also works with private waste management companies, corporate businesses, facilities management companies, the healthcare sector and educational facilities.
The transaction was effected by way of a scheme of arrangements. The Gateley advisory team included Leeds-based corporate partner Nick Emmerson, Birmingham-based corporate partner Paul Cliff, commerce, technology and media partner Andrew Evans and corporate associate Tom Rush.
As a result of the acquisition, Straight has been delisted from AIM and will be integrated into One51’s plastics division.