A Rugby-based company which provides environmental services to commercial kitchens has secured a £4m funding package to make a significant acquisition.
Filta Group Holdings, which provides restaurants and food establishments with cooking oil filtration fryer management services, has acquired Essex-based firm Watbio Holdings. Watbio offers similar and complimentary services including wastewater pumping and treatment.
The acquisition, which took place following Filta’s admission to the London Stock Exchange’s AIM market, will help to further enhance the company’s presence in the UK and expand the range of services it offers to its growing client base.
The deal has seen the company grow to more than four times its size and makes Filta the leading national provider of grease management and drainage services in the UK, helping the business strengthen relationships with national blue-chip customers.
Jason Sayes, Chief Executive Office of Filta, said: “We’re delighted to have secured the funding from HSBC UK to enable the exciting acquisition of Watbio. The two businesses combine a wealth of services, experience and opportunities and we look forward to driving Filta forward in its strengthened position in the UK.”
Victoria Ritchie, HSBC UK’s Area Director for Corporate Banking in the City of London, added: “Filta’s acquisition of Watbio is a huge achievement and will open many new doors for the company as it continues to grow. Filta has gone from strength-to-strength in recent years and a listing on AIM is a landmark step for them. We look forward to watching the new opportunities unfold as the acquisition takes full effect.”
Filta Group Holdings is headquartered in Rugby, UK and is AIM listed – the company also operates in the USA with an office in Orlando as well as offices in mainland Europe including the Netherlands, Germany and Austria.