Indigo Capital is now the sole owner of Taylor
Egbert Taylor & Co, manufacturer of steel bins and containers, has announced a restructuring of the ownership and financial structure of the business.
This sees the investor Indigo Capital take sole shareholding ownership of the company, widely known in the waste sector as ‘Taylor Bins’. Changes had been expected after two businesses related to Egbert Taylor & Co – which is a major manufacturer and trader of four wheeled steel bins for the waste sector – were placed into administration.
Companies House this week recorded that the holding companies Egbert Taylor Group and Egbert Taylor Management are in administration. Egbert Taylor Management did hold most of the shares in the operational waste container business which produces wheeled bins at a large site near Droitwich, Worcestershire.
Now more details have emerged of the changes at Egbert Taylor which have seen Indigo Capital LLP – which originally put in finance towards the Sullivan Street acquisition of Taylor in 2011 – take sole control of the operational bin-making business.
Strengthened
In a statement, Egbert Taylor & Co explained: “Egbert Taylor has strengthened its financial position and laid the foundations for continued domestic and international growth following a reorganisation that has seen Indigo Capital LLP become the business’s sole shareholder.
“We are delighted with the outcome and excited to have an investor whose boundless vision and commitment is in developing a truly international brand which is wholly aligned with the business and the accomplished team that we currently have in place.”
The statement continued: “This is a positive move for the business, our suppliers and of course our loyal and longstanding customers.
Taylor’s has supplied bins for recycling for the City of Westminster, London
“We now look forward to growing our UK and international sales, expanding our wide range product portfolio and building on our reputation for delivering unparalleled customer service throughout the waste industry.”
In its latest set of annual accounts to the year end 30 June 2016, Egbert H. Taylor & Company Ltd reported a turnover of £15.7 million. It spoke of the UK market remaining challenging, partly as a result of austerity in the local authority sector.
‘Proud history’
When it acquired Taylor in 2011, (see letsrecycle.com story) Sullivan Street commented: “Taylor has a long, proud history and a fantastic product. Its Continental 1100 has been the market standard for 4-wheeled steel bins for over 20 years. When we acquired the business in 2011 it has been through a period as an orphan asset, but for most of its 50-year existence Taylor has been owned by the Taylor family.
“We saw the opportunity to take the strong, loyal, family ethos and introduce commerciality into the revenue and controls into the manufacturing facility to enable growth.”
Taylor, which was a family business, was first acquired by investment funds in 2005 when it was bought by ECI Partners.
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Source: letsrecycle.com Waste Managment
