Elysian Capital II LP Acquisition with management of Raymond Brown Minerals and Recycling

Elysian Capital II LP has acquired, in conjunction with the company’s management, Raymond Brown Minerals and Recycling Limited (‘RBMR’). This is the second platform deal in the Elysian Capital II LP Fund which closed during 2015 at £250m.

Operating as an independent business for over 60 years, RBMR is a leading regional integrated aggregates and recycling business operating across Hampshire, Dorset, Wiltshire and Oxfordshire (rbwaste.co.uk).

Based in Chandlers Ford, RBMR has developed three equally strong business streams – aggregate extraction and provision through a network of strategically positioned quarries; long term strategic partnerships for the processing and recycling of incinerator bottom ash (IBA); and regional waste management and recycling through a network of high capacity material recovery facilities (MRFs).  The Group has a strong reputation for product and service quality and environmental responsibility.

Under the leadership of Stuart Harris (MD) and Steve Clasby (COO), multi million pound investments have been made across its 12 site portfolio over the last 3 years, including a new IBA facility near Andover, Hampshire and a new quarry in Romsey, driving group sales in excess of £30m and creating the platform for significant further growth.  As a business with regional critical mass, RBMR has a number of exciting opportunities across each of its business streams to continue to develop its strong asset base and increase its footprint by taking advantage of strategic regional mineral reserves, waste recycling opportunities and develop further its presence within the high growth IBA market. 

Edward Brett, a partner at Elysian Capital said:

“The RBMR team has done a super job in developing a business with real strategic positioning and in putting a focus on the quality and long term nature of what they do.  There are some very exciting opportunities to build on the foundation created and the team has a real ambition for achieving significant growth.”

Stuart Harris, MD of RBMR, said:

“We are thrilled to do this deal with Elysian.  It was a complex transaction and Elysian not only grasped quickly what makes RMBR special and the nature of the opportunity ahead, but also demonstrated a real willingness and flexibility to make the transaction happen.  We have ambitious plans and in Elysian we have a partner with both genuine operational in-house experience that can support us through the next phase and very strong alignment.”

Elysian Capital was advised by Grant Thornton (financial due diligence); CIL (commercial due diligence) and Charles Russell Speechlys (legal); Raymond Brown shareholders were advised by Spectrum (corporate finance) and Shoosmiths (legal). Senior Debt and Working Capital Facilities were provided by Lloyds Bank, who were advised by Squire Patton Boggs.

For further information, please contact:

Stuart Harris, MD RBMR

02380 273750; stuart.harris@raymondbrown.co.uk

Edward Brett, Partner Elysian Capital LLP

0207 925 8050; edward@elysiancapital.com