Forward Waste Management Secures Backing from Santander

£2m Funding for Manufacturing Waste Specialist in Cardiff, Wales

Santander Corporate & Commercial has financed around £2 million in growth capital funding and working capital facilities to Cardiff, Wales based Forward Waste Management.

From
C&I waste wales finance Markets & Policy

Santander Corporate & Commercial has financed around £2 million in growth capital funding and working capital facilities to Cardiff, Wales based Forward Waste Management (FWM).

The Welsh waste and recycling firm, ), which offers services specifically for the manufacturing sector, will use the funding to help develop its regional waste collection and processing facilities extending from South Wales to the West Midlands.

Established in 2006, FWM provides an end-to-end service to UK manufacturers, including the management of hazardous waste materials. 

With a substantial increase in environmental regulation over the past decade, FWM said that it has expanded significantly as the demands on its clients have grownenabling it to capitalise by advising clients on their total waste management strategy via a single point of contact.

The firm’s current clients include British Airways, Ricardo, Federal Mogul, Sony and Actavis.

The Growth Capital funding from Santander is being used in particular to fund FWM’s operations in the West Midlands as the business develops a growing customer base in the region. 

Santander’s Growth Capital loans are targeted at businesses with annual turnovers of up to £50 million which have a demonstrated history of high year-on-year growth in turnover, profit or employment.  The facility is part of the bank’s Breakthrough support programme, which is aimed at fast-growth, ambitious businesses and includes funded overseas trade missions, Masterclass events and also provides graduate interns to SMEs.

FWM added said that it also incorporates its own waste handling equipment division, Enviroquip, manufacturing and refurbishing a wide range of machinery including waste compactors, balers and containers. 

Lyndon Ward, managing director of Forward Waste Management Ltd, said: “We are a dynamic business operating in growth driven by the increasingly significant waste and recycling regulatory and compliance requirements for our customer base.” 

Peter Abel, Director, Growth Capital, Santander Corporate & Commercial added: “This is a business we have known and tracked for a while….  They operate in a sector with exciting opportunities.”

Read More
Remondis Acquires Waste Management firm IN North East England
Waste and recycling multinational, Remondis, has acquired family owned Newcastle upon Tyne based waste management firm, JBT, for an undisclosed sum.

Funding for Circular Economy Projects in Scotland
The Circular Economy investment fund has been launched in Scotland by the Cabinet Secretary for Climate Change, Environment and Land Reform Roseanna to accelerate the shift to a circular economy within their regions.

£127m Waste to Energy Feedstock Contract for Viridor in Scotland
Waste and recycling firm Viridor has struck a new £127 million deal with South Lanarkshire Council to divert waste from landfill by sending residual post-recycling ‘black-bag’ waste to a waste to energy facility currently under construction.