Fladgate LLP has advised German paper manufacturer Palm Paper Group on the acquisition of the business and assets of Cheshire Recycling Limited from its administrators for an undisclosed sum. Palm Recycling Limited, a newly formed subsidiary of the Palm Paper Group, has acquired the business which was previously trading as Abitibi Bowater Recycling Europe.
The business operates one of the largest single company paper bank programmes in the UK. Palm Recycling Limited will continue to service its local council and other customers and will be among the biggest collectors of used newspapers and magazines from domestic properties in the UK. It will also ensure the long-term, secure supply of fibre for Palm Paper’s King’s Lynn facility, which was opened last year.
Corporate partner Alex Kaufmann led the Fladgate team which also comprised corporate partner Andrew Bessemer Clark and commercial partners Eddie Powell and Andrew Kaufman. Partner Mark Harnett advised on the environmental aspects.
Commenting on the transaction Alex Kaufmann said: “Our German speaking team combines legal know-how with a practical understanding of the similarities and distinctions between the UK and German legal systems and business cultures. We were pleased to advise Palm Paper on the acquisition of this recycling business with great future potential.”