Investment boost for Midland’s recycler creates over 70 jobs

Lawrence Recycling and Waste Management of Kidderminster will create over 70 jobs as a result of securing investment of £10 million to complete the development of The Forge, a recycling facility that will be the largest of its kind in Europe.

The Forge is expected to open its doors to customers over the next few months, creating more than 70 jobs. It will process up to 250,000 tonnes of commercial, industrial and construction waste, greatly reducing the amount of waste currently sent to landfill, and helping local authorities and businesses meet ambitious waste targets.

Belbroughton based financier James Grenfell, who also invested in the business, originated the £10 million deal backed by Aberdeen Asset Managers Growth Capital (AAMGC), Barclays Bank plc, and Advantage Transition Bridge Fund.

Lawrence Recycling and Waste management, a local family business well known for it's fleet of red skip vehicles, purchased The Forge, a 210,000 sq ft Brownfield site in Kidderminster 18 months ago and has already invested more than £1 million in the facility.

David Lawrence, Managing Director of Lawrence Recycling and Waste Management said ' We are pleased to have secured the funding to complete this project, which has been our ambition for the last four years'.

'There is a significant opportunity for Lawrence to develop it's business further with local businesses and significantly increase the amount of recycled commercial and industrial waste that is currently land filled in its entirety. We will also be creating more than 70 jobs in the West Midlands, which has to be good news in these difficult times’.

James Grenfell, senior partner at Orbis Partners LLP, who joins the board, added " It has become increasingly difficult for companies, even good ones, to attract investment in this challenging economic environment. However, this investment demonstrates that there is still financial support available for well-run businesses with good management teams, and a strong strategy for growth. There is not doubt that the Lawrence recycling facility will become a showpiece for other waste operators'.

Left to right: David Lawrence, LRWM, Andrew Ferguson, AAMGC, Calvin Williams, LRWM, James Grenfell, Orbis Partners LLP