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Irwin Mitchell Advise On Augean Plc Deal

Refinancing Deal Will Support Company's Future Growth


Law firm, Irwin Mitchell, has advised HSBC’s Corporate Banking team in Leeds on the £10 million refinancing deal for market-leading waste management group, Augean plc.

The facility refinances existing funding and will support the Wetherby-headquartered business’s future growth plans. The deal, led by Corporate Banking Manager Wayne Shadlock, continues Augean’s established relationship with HSBC.

Augean plc was formed in September 2004 to trade in the newly formed hazardous waste sector. Over the past seven years, the business has developed into the market leader in hazardous landfill solutions and also provides a broad range of waste treatment solutions to customers across the UK.
Simon Cuerden, Corporate Partner at Irwin Mitchell in Leeds advised on the deal.

He said: “This is an important deal for Augean as it will enable the business to continue its strategic development.  It is also significant in that it provides further evidence during these tough economic times that banks are willing and able to support established and well-run businesses in order so that they can continue to meet their growth aspirations.”

Martin Lunt, HSBC’s Head of Corporate Banking in Yorkshire, commented: “Augean plc has quickly become a leader in its sector, trailblazing new waste-management solutions and providing specialist waste management to its clients. We’re delighted to have completed the refinance for Augean and look forward to our ongoing work with the business as it progresses its growth strategy.”

Richard Allen, Group Finance Director, Augean plc commented: “We are pleased to have completed this significant refinancing that will support our plans for the future and which demonstrates a confidence in both our business and our strategy.”