Deal expands energy firm; DEALMAKERS.
HARTLEPOOL-BASED Seneca Global Energy has bought a company in Yorkshire operating a large disposal site generating enough renewable energy to power 4,000 homes.
The resource recovery and renewable energy company has bought the shares in Caird Barton, which operates the landfill site and recycling centre at Peckfield near Leeds, from joint owners Aggregate Industries and Shanks Group for an undisclosed sum.
Seneca is planning to enhance activities at the Peckfield site, bringing in a series of operational and environmental changes to further improve the site, which deals with 400,000 tonnes of waste from the Leeds area every year.
The company will also look to boost recycling rates at Peckfield and invest further in the site.
Experts from the energy, commercial and corporate finance teams at law firm Ward Hadaway provided legal advice to Seneca Global Energy on the deal.
Mark Whitehead, partner and head of the energy and utilities team at Ward Hadaway, said: "We are delighted to have assisted Seneca Global Energy on what is an important strategic acquisition for the company.
"The deal involved negotiations with joint owners, including a listed company, and called for a mix of skills on our side.
"Seneca brings a lot of experience, cutting-edge ideas and know-how to the Peckfield site and the acquisition will add further to the company''s portfolio."
Seneca Global Energy is part of a group which operates a number of landfill sites and waste treatment units across the country with plans for further development.
Paul Hornshaw, director at Seneca Global Energy, said: "This acquisition is an important one in the context of the continuing development of Seneca across the country.
"We chose Ward Hadaway as our legal adviser for the deal because of their experience in this sector and their expertise in corporate finance matters."
Last year, Ward Hadaway advised on an agreement with Ener-G Natural Power which will see up to 5mw of renewable electricity generated from landfill sites in Blaydon near Newcastle, Hartlepool and Hull.
The arrangement sees specialist equipment from Ener-G Natural Power deployed at the landfill sites to convert landfill gas from the sites into renewable electricity to sell to the National Grid.
Seneca brings a lot of experience, cutting-edge ideas and know-how to the Peckfield site
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|Publication:||The Journal (Newcastle, England)|
|Date:||Apr 24, 2013|
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