Page 39 - Plastics News July 2020

Transcend secures £10m investment with focus KKR completes £4.2bn acquisition of Viridor in
on foodservice packaging UK

ales-based firm Transcend Packaging has secured KR has suggested that it will invest to boost
Wa £10m round of investment from private equity Krecycling and energy recovery in the market. The
firm IW Capital. Transcend said the investment will Company has set out its vision for the waste
allow the company to grow as it branched out from management firm following the completion of its
paper straws to also launch home-compostable, CE £4.2bn acquisition. It has made Phil Piddington,
certified PPE. Transcend said it is now facilitating the formerly Viridor's managing director, the new chief
re-opening of the food service sector, with major deals
being discussed with more household names. Known
for manufacturing McDonald's paper straws, the 150-
staff company pivoted into home-compostable CE-

executive. Former chief executive of Biffa, Ian
Wakelin, will become Viridor's chairman. KKR's head of
European infrastructure Tara Courtney Davies said:
“We see enormous potential for Viridor as a
marked PPE two weeks into lockdown, securing standalone business. The company is already a sector
contracts to supply millions of visors to the NHS (and leader with a strong platform and an experienced
management team. With KKR's support, Viridor is
others).The firm claims to have produced the world's
first sustainable visor, certified for protection against uniquely positioned to invest further and continue to
build critical infrastructure, helping the UK meet long-
Covid-19 (“Plastic Free” trust mark) The bio-
term sustainability and environmental goals.”
degradable PPE face visors are made from paper pulp
Piddington added: “We are exploring options for three
and cellulose, which has been certified for use against
more energy recovery facilities, including a new plant
Covid-19 and is already being used across NHS England
at Ford in West Sussex, another joint venture with
and Wales. Gabriel Fysh, Transcend Packaging co-
Grundon Waste Management. This supports market
founder and director said: “With the current focus on
demand for landfill-diversion facilities which produce
sustainable packaging, shifting away from plastic and
low carbon heat and power and contribute to UK
the importance of domestic supply chains in a post
resource and energy efficiency.” Viridor also
Covid/Brexit world, Transcend is well positioned to
announced the appointment of Ian Wakelin, former
take advantage of this well timed investment from IW
chief executive officer of Biffa plc, as chairman of the
Capital, existing shareholders and our strategic
company. He says he is excited by his return to the
partners.” Luke Davis, chief executive of IW Capital,
sector. Mr Wakelin said: “Viridor is clearly well-
said: “We are thrilled to have led such a significant
positioned to continue to deliver excellent growth and
round of investment in Transcend as it provides the this is enhanced by the investment from KKR, a group
disruption the packaging industry was calling out for.
which values infrastructure development. “Viridor has
Whether it is for food service business, groceries or the a clear strategy based on market demand and a real
PPE market, Transcend is excellently placed to help understanding of the challenges and opportunities in
organizations. this sector based on years of experience.

July 2020 39 Plastics News