Viridor
{{Short description|British recycling company}}
{{Use dmy dates|date=November 2018}}
{{Infobox company
| name = Viridor Limited
| logo = Viridor logo.png
| type = Subsidiary
| traded_as =
| foundation = 1956
| location = Taunton, England
| locations = 320 facilities
| key_people = Ian Wakelin (Chairman)
Kevin Bradshaw (Chief Executive Officer)
| industry = Waste
| products =
| revenue = £672 million (2023)
| operating_income =
| net_income = £167 million (2023)
| num_employees =
| parent = KKR
| subsid =
| homepage = {{url|https://www.viridor.co.uk}}
| footnotes = }}
File:Viridor's 24 MW waste to energy plant.jpg]]
Viridor Limited (from the Latin 'to become green') is a recycling, renewable energy and waste management company in the United Kingdom owned by KKR.
History
The company was formed in 1956 as Harrison Western Limited, later becoming Haul Waste Limited. Haul Waste became part of Pennon in 1993,{{Cite web|url=http://www.pennon-group.co.uk/pennongroup/aboutus/ghistory.jsp?t=2&s=3|title=History|website=Pennon Group}} and grew by purchasing companies in the waste collection and landfill disposal market.
In 1995 it bought Blue Circle Waste Management, bringing about South West Water's name change to Pennon Group in 1998, and the merger of Haul Waste and Blue Circle Waste Management under Viridor. It subsequently acquired part of Churngold's waste business in June 2003, Thames Waste Management in 2004, Somerset LAWDC Wyvern Waste in 2006,{{Cite web|url=https://www.reuters.comundefined/|title=PNNEUR.DEp|website=Reuters}} Grosvenor Waste Management{{Cite web|url=https://www.letsrecycle.com/|title=Recycling and Waste Management News|website=letsrecycle.com}} and Skipaway Holdings in 2007,{{Cite web |url=http://www.advfn.com/lse/ShareNews.asp?sharenews=PNN&article=19373358&headline=pennon-groups-viridor-acquires-uk-waste-management-company-for-14-7-mln |title=Pennon Group's Viridor acquires UK waste management company for £14.7m |access-date=1 April 2015 |archive-url=https://web.archive.org/web/20140223092243/http://www.advfn.com/lse/ShareNews.asp?sharenews=PNN&article=19373358&headline=pennon-groups-viridor-acquires-uk-waste-management-company-for-14-7-mln |archive-date=23 February 2014 |url-status=dead }} and Shore Recycling in 2008.{{Cite web |date=25 March 2008 |title=Pennon buys recycle firm for £23m |url=http://news.bbc.co.uk/2/hi/uk_news/england/devon/7312400.stm |website=BBC News}} Later in 2015 Viridor took over the collection side of Dorset based waste company Commercial Recycling.
Today the business is valued at around £4 billion,{{Cite web|url=https://www.letsrecycle.com/news/latest-news/talk-grows-of-viridor-sale/|title=Talk grows of Viridor sale - letsrecycle.com|website=www.letsrecycle.com|access-date=2020-01-16}} with recent acquisitions and growth focused on expanding the company's recycling and energy from waste capacity. Viridor was awarded the Greater Manchester Waste Disposal Authority's Waste PFI contract, the largest waste and renewable energy contract in the UK.[http://www.gmwda.gov.uk/news/news-pr0017.htm State of the Art Technology for Greater Manchester], www.gmdwa.gov.uk, Retrieved 19 October 2007
On 12 August 2010, the company was featured on Channel 4 documentary Undercover Boss,[http://www.channel4.com/programmes/undercover-boss/episode-guide/series-2/episode-5 Channel 4 - Undercover Boss Series 2 Episode 5] Retrieved 12 August 2010 in which Chief Executive Colin Drummond went undercover as a new recruit inside the company.
In March 2020, KKR agreed terms to buy Viridor in a £4.2 billion deal.{{Cite web|url=https://www.cityam.com/pennon-sells-waste-business-viridor-to-private-equity-firm-kkr-in-4-2bn-deal/|title=Pennon sells waste business Viridor to private equity firm KKR in £4.2bn deal|date=18 March 2020|website=City AM}}{{Cite web|url=https://www.pennon-group.co.uk/media/news/proposed-sale-viridor-%C2%A342-billion-kkr|title=Proposed Sale of Viridor for £4.2 billion to KKR|website=Pennon Group}} The transaction was completed on 8 July 2020.{{cite web|url=https://www.ft.com/content/60ac8bbe-693a-11ea-800d-da70cff6e4d3 |archive-url=https://ghostarchive.org/archive/20221210/https://www.ft.com/content/60ac8bbe-693a-11ea-800d-da70cff6e4d3 |archive-date=10 December 2022 |url-access=subscription |url-status=live|title=KKR to buy recycling group Viridor in £4.2bn deal|publisher=Financial Times|date=18 March 2020}}
Viridor Credits
As part of the Landfill Communities Fund tax credit scheme, Viridor created the Viridor Credits scheme which in 2001 to distribute funds to communities for heritage and biodiversity projects.{{Cite web|url=https://www.viridor.co.uk/who-we-are/sustainability/social/viridor-credits/|title=Viridor Credits|last=|first=|date=|website=Viridor|archive-url=|archive-date=|access-date=2020-03-08}} It reported £7.6m in grants in 2017/18.
References
{{reflist}}
External links
{{Commons category}}
- {{official website|https://www.viridor.co.uk}}
Category:Companies based in Taunton
Category:Kohlberg Kravis Roberts companies