Next step for Inciner8 as investors move it
APIONEERING and award-winning incineration company has been bought out by a major equity firm.
Bosses at Inciner8, based in Southport, Merseyside, now hope to achieve their long-term of goal of exporting products to every country in the world.
The business operates from a base at Canning Road and manufactures incinerators for a range of markets including medical, animal by-product, and general municipal waste. Increased demand has led to predictions of significant growth over the next 12 months and attracted a management buy-out by Chiltern Capital.
Chiltern has taken a majority stake in the company and, according to an Inciner8 spokesman, “will play an active role in supporting our management team to continue building on Inciner8’s successful growth track record and reputation as a leading supplier of incinerators globally.’’
The move will enable to the firm to create new product lines and continue the growth of the areas it supplies to around the world.
Inciner8 has a proud history which includes the award of two Queen’s Enterprise Awards, the UK’s highest accolade for business success, in 2016. Last year, it claimed the title of International Business of the Year at the Liverpool ECHO Regional Business Awards.
The company has also supplied incinerators for medical waste in West Africa to help tackle the Ebola crisis as well as working with police forces to safely dispose of confiscated and surrendered knives and weapons.
After the completion of the deal, chairman and founder Vince Ferguson is to leave the company, with private equity chairman Duncan Cooper joining the board.
In 2018, Mr Ferguson was awarded an OBE for services to export and manufacturing.
The spokesman said: “Beyond this, we will be empowered to achieve even more ambitious milestones, and will continue to reinvest profits back into our people, our products and local economy, just as we always have.
“Our unprecedented growth means we will be making key hires across multiple divisions, including within our engineering, technical, sales and marketing teams to help us capitalise on the increasing demand and diversification of our globally-orientated market.
“Now is an extremely exciting time to be part of Inciner8, and we are pleased to be working in partnership with Chiltern Capital to achieve all of our aspirations and more.