HSBC’S Funding Package Will Enable Waste Management Firm To Expand

Wetherby-headquartered waste management group Augean has today completed a £15 million refinancing, backed by HSBC’s Yorkshire Corporate team in Leeds and advised on by law firm Irwin Mitchell.

The increased level of funding enables Augean to drive organic growth by expanding their range of services and capabilities targeted at the oil and gas industry, as well as nuclear waste market. The deal was led on behalf of HSBC by Senior Corporate Banking Manager Wayne Shadlock.

AIM-listed Augean was founded in 2004 and specialises in hazardous waste management. It operates sites across the UK and owns 50% of the UK hazardous waste landfill capacity. The company has made a number of acquisitions in recent years and the increased funding support from HSBC will enable Augean to continue to explore opportunities in key growth markets.

Martin Lunt, HSBC's Yorkshire Head of Corporate Banking, said: "Augean has a high calibre management team, who have continued to develop the company’s strong position in its key markets. The company has firmly established itself as a leading player in its sector and it is looking to build on that strong position going forward, supported by this latest refinance. HSBC is pleased to support this valued relationship and we are excited about working with Augean going forward.”

Corporate partner Simon Cuerden from the Leeds office of law firm Irwin Mitchell along with Hayley Johnson from the firm’s banking & finance team, advised HSBC on the refinance.