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A skip hire company based in Sittingbourne has been taken over in a multi-million-pound deal.
Domestic and commercial waste removal firm Quick Waste Ltd, based on the Eurolink Industrial Estate, has been acquired by Stuart Mann - director of Thanet-based Reclamet in Birchington.
He completed the deal through what is known as a ‘special purpose vehicle’ (SPV) - a device designed by a parent company to limit financial risk.
The Quick Waste site and 70% of the business will be transferred to the SPV with the business continuing under its original name.
Jack Crush, managing director at Quick Waste, will continue to run day-to-day operations.
He said: “I am delighted that Quick Waste has a new dedicated, impressive and successful owner who will invest in and develop the business and its people.”
Its new owner, Stuart Mann, added: “Quick Waste is an outstanding company with a full order book and much repeat business. I am very much looking forward to working with Jack and getting to know the rest of the team to grow the business together.”