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The Eight Advisory UK Team provided buyside financial and tax due diligence to Nordic Capital portfolio company Sortera on its acquisition of GBN Services

12 Jun 2023

Deals

Eight Advisory London

M&A Transaction Services

Tax Services

The Eight Advisory UK Team provided buyside financial and tax due diligence to Nordic Capital portfolio company Sortera on its acquisition of GBN Services

12 Jun 2023

Deals

Eight Advisory London

M&A Transaction Services

Tax Services

Sortera, a leader within collection, recycling, processing, and the sale of residual products from the building and construction sector in Northern Europe, expands its presence in the UK market by acquiring GBN Services Ltd.

GBN is one of the largest independent companies within waste management and recycling of construction waste in Central and North London and surrounding areas.

 

The acquisition of GBN marks Sortera’s second acquisition in the London market in the last year and is an important step to establish Sortera as one of the leading companies in the collection and recycling of construction waste in the UK.

 

“Sortera is very excited to welcome GBN to our UK operations. GBN has built a very strong reputation in the London market with a strong focus on customers, quality and sustainability led by a passionate and experienced team of employees. GBN’s way of working is very much aligned with Sortera’s core values, and we are very happy to add them to our growing family. This is an important acquisition for Sortera as it firmly establishes us as one of the leading companies in the London market. By adding GBN to our UK operations, we will serve our customers in the London area on a much broader scale”, says Sebastian Wessman, CEO of Sortera.

 

“This transaction marks an important milestone in what has been a very successful journey for GBN so far, and I am happy that we are now part of the Sortera family. Sortera shares many of the same success factors as GBN with an entrepreneurial vision, a passion for customers and a strong focus on sustainability. They are a strong partner which will allow for us to further invest into the development of GBN, which will benefit the team as a whole, the market and our clients”, says Garry Hobson, Managing Director of GBN.

 

With the acquisition of GBN, Sortera continues on its international growth journey with the strategy and ambition to become a leading construction recycling company in Northern Europe. GBN is part of Sortera from 7 June 2023. This is Sortera’s 19th acquisition since it was established in 2006. With the new acquisition, Sortera’s turnover will increase to over SEK 3.1 billion.

 

Eight Advisory’s involvement in this transaction:

 

  • The Eight Advisory financial team: Rupert Templeman, Nick Lynch and William Copley

 

  • The Eight Advisory tax team: Dean Lake, Michael Hackley and William Albion

Rupert

Templeman

Partner

Transaction Services

Eight Advisory London

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Dean

Lake

Partner

Tax

Eight Advisory London

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