SHORE Recycling, which operates the only permanent facility for recycling fridges in Scotland, has completed a management buy-out valuing the business at £18.9m just two years after it was formed.
The buy-out vehicle is a new company, financed by Shore’s managers and the Royal Bank of Scotland, with a business plan to continue growing the business.
Vendor and founder Simon Howie will remain as an executive director while managers Malcolm Todd and Tom Liddell will lead the future growth of the Perth-based business.