Sterile Technologies Group (STG), the Dublin-based clinical waste processing company, yesterday announced it had acquired the BFH group in Britain, for €10.2 million.
BFH is the third-largest provider of clinical waste management in the UK, with a market share of about 13 per cent. It operates seven disposal facilities in England, and had a turnover of €11 million last year.
The acquisition of BFH represents a significant investment for STG, which operates two steam-sterilisation healthcare processing facilities in Ireland, located in Dublin and Antrim.
It currently employs 65 people and is the market leader here in clinical waste, with a market share of 90 per cent. STG is owned by Yeoman International and Rogers Group Waste. Its companies trade under the name STI.
According to Mr Niall Wall, chief executive of STG, the move represents a "first step" in his company's plans. "What it really does is it gives us a springboard to grow the business," he said. "This acquisition will give our group a strong presence in the UK market and is an ideal platform for us to grow both organically and through acquisition.
"We are impressed with the geographical spread of BFH's facilities, the calibre of its management team - which will remain with the company post-acquisition - and with the quality of its client base."
The acquisition will be effected through STI UK Ltd, which is 80 per cent owned by STG, with the other 20 per cent owned by BFH Group directors Mr Bill Blyde and Mr John Hancock. Mr Blyde said: "We are delighted with this transaction. It is an excellent strategic move for the business as it will give BFH access to new technology and help consolidate our position as a leading player in this market."
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