Latest Beacon turns waste into revenue
Two years on from its move into the commercial world and an MBO, Devon Waste Management has been awarded Beacon status in recognition of its success in securing long-term contracts on key landfill sites and 24 recycling centres across Devon.
The ex-local authority organisation, which employs 58 and provides waste management solutions to private firms as well as the public sector, has experienced a strong growth in turnover to £14.4 million following its leap into the private sector.
In acknowledgement of the company's success since 2006, when its financial director Collin Hickling completed an MBO, it has been given Beacon status by Beacon South West - a South West of England Regional Development Agency (RDA) initiative that brings together high growth, inspirational businesses to cultivate excellence within the business community.
One of the company's key achievements to date has been the development of its commercial arm, Coastal Waste. Over the last two years, the department has experienced a 28 per cent increase in turnover by providing a range of waste management services to an expanding client base. The private sector looks set to continue providing Coastal Waste with huge opportunities for growth as more and more firms take responsibility for waste on site following the introduction and tightening of waste legislation. The commercial team advises businesses on how it can minimise waste, develop site waste management plans and safely dispose of hazardous and asbestos waste and recycle wood and plastic, to name but a few of its services.
Collin Hickling, now managing director of Devon Waste Management, says: "One of the main reasons why I wanted to complete the MBO was because I saw the potential for the company to diversify; the time was right to expand our presence in the commercial arena and we are really excited about the way we have built up Coastal Waste, creating a strong foundation for further growth. We are in a robust financial position with an impressive turnover of £14.4 million.
"Gaining Beacon status is important to us and there is a great synergy between what Beacon South West stands for and the values of Devon Waste Management. We believe very strongly in generating wealth for the local economy and we always try to source locally where we can. For example, in the last year alone, we have invested £1.5million in buying a fleet of commercial vehicles and new waste equipment, all of which was bought from Devon suppliers. We want to continue to build strong ties with the wider business community and believe that Beacon South West will enable us to do this."
Sue Baker, director of Beacon South West, concludes: "Devon Waste Management has transitioned from a public sector organisation to private company, successfully managing the associated culture change and completing a smooth MBO. Many regional businesses face these sorts of challenges and therefore we believe the company has a lot to offer other Beacon companies in terms of advice and support. In addition, the leadership team is not content with stagnating and accepting the status quo and has demonstrated an admirable commitment to diversification and researching new revenue channels. Its plans to explore biomass technology and invest in a wood waste recycling site which will generate electricity are extremely exciting and we look forward to watching and supporting the company as it develops further over the coming years."
