Endless has completed a fifth acquisition from its £400m fund, with the purchase of a West Midlands metal recycling business.
Enablelink processes more than 300,000 tonnes of material per year across its three production sites in Great Bridge, Cradley Heath and Birmingham, specialising in the acquisition, processing and distribution of ferrous and non-ferrous material.
With more than 60 employees, the business is prepared for further growth from its current £110m turnover base, after investing in new shredding and processing capabilities.
Mid-market private equity investor Endless says it will strengthen Enablelink’s position and provide it with additional capital for growth and to support the management team capitalise on the increasing demand for recycled metals.
The deal follows on from Endless’ acquisition of ASCO in August 2023 through its £400m Fund V.
Operations Director, Josh Long, will take over as Managing Director following the retirement of Roy Millard.
Long said: “This is fantastic news for Enablelink. While it is business as usual, we are excited by the opportunities new ownership will bring and we look forward to continuing our rapid growth and development both organically and through acquisition. We would like to thank Roy Millard for building such a strong business and supporting the company and its employees over the last 17 years.”
John Stevens, Investment Director at Endless said: “We are thrilled to have been given the opportunity to acquire Enablelink. Through its strong relationships with suppliers and customers, Enablelink has demonstrated its importance to the UK green economy and the growing demand for recycled materials both in the UK and internationally. We extend our warmest gratitude to Roy for the fantastic business he has built and we look forward to working with Josh and the Enablelink team.”
Endless was advised by Walker Morris (legal), KPMG (Tax), Aon (Insurance) and Kroll (Commercial).
Enablelink was advised by Finvos (Corporate Finance) and Shoosmiths (Legal).