Sweeptech deal agreed after Go Plant calls in administrators, with Telford depot closing
A company with a base in Shropshire has moved swiftly to acquire another business, which appointed administrators last week, leading to the closure of its Telford depot.
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Waste Management experts Sweeptech Environmental Services – who moved to Castle Trading Estate, Snedshill in October – have announced the purchase of the business of stricken Go Plant as part of ambitious growth plans.
Sweeptech's move has saved more than 116 jobs through the securing of some sites, though Go Plant's Telford depot has closed, administrators confirmed. The number of Go Plant redundancies has not been revealed.
Mike Denny and Jonny Marston, of professional services firm Alvarez & Marsal Europe, were appointed as joint administrators of Go Plant Limited and Go Plant Fleet Services Limited on Friday, with the sale of some depots quickly sealed with Sweeptech.
The administrators said: "A deal with Sweeptech Environmental Services has secured the future of some sites and saved 116 jobs. Regrettably, no buyer could be found for the remaining depots owned by Go Plant Limited and these sites were closed on appointment, resulting in a number of redundancies."
Mr Denny, Managing Director at Alvarez and Marsal and Joint Administrator, added: “The companies (Go Plant) had been heavily impacted by challenging market conditions, in particular cost pressures and a subdued UK house building market.
"We are delighted to have completed a sale of certain depots across the north of England to a strategic buyer, preserving substantial employment. We will work closely to support those unfortunately made redundant following the appointment of administrators.”
Sweeptech, the UK’s largest recycler of road sweeping and gully waste, said the strategic move marked an important milestone in its continued expansion and reinforcing its commitment and environmental stewardship.
The move will benefit Go Plant’s existing customers, with enhanced service levels.
Martin Smith, CEO of Sweeptech, said:"We are thrilled to announce the acquisition of Go Plant. We have been expanding quickly and this marks a significant milestone in our journey towards becoming a truly national waste management company.
"This strategic move not only enhances our ability to serve our customers with excellence but also underscores our unwavering commitment to environmental sustainability and regulatory compliance."
"We are excited about the opportunities that lie ahead as we integrate Go Plant into the Sweeptech family," added Smith. "There's a lot of synergy between where Go Plant were operating and ourselves. there was an absolute alignment so this is a perfect opportunity to maximise our footprint really.
"Together, we will continue to innovate, drive positive change and set new standards of excellence in waste management."
