MoreThanWaste.com - One51 increases holding in Augean to nearly 27% (11/12/2006)

One51 has bought a further 3.6% stake in UK waste company Augean, bringing its holding to nearly 27%.

Augean describes itself as the market leader in hazardous waste management with a strategy to grow organically and through acquisition.

One51

One51 which was formerly known as IAWS Co-Op and based in Dublin, has been in expansionist mode pursuing a number of opportunities in waste, energy and related sectors. At the end of last year One51 acquired Denis O'Brien's Rilta, trading as SITA Environmental, a hazardous waste disposal firm operating from Ireland's capital.

At the time Philip Lynch, Chief Executive of One51 said that the acquisition of Rilta was another important step in the development of One51's growth strategy in the waste sector.

One51 is also in a staff expansion with senior finance officers currently being recruited.

The company is said to be one of Ireland´s leading investors in the waste, energy and related sectors. In addition to the Company´s existing waste, infrastructure and property interests, One51 owns a significant shareholding in NTR plc which has interests in infrastructure, waste management and renewable energy.

The Company has been involved in the establishment of TechRec Ireland which will operate Ireland´s first automated plant for the recycling of waste electronic equipment(WEEE) and, as indicated above, recently acquired Sita Environmental's Irish arm. The Group employs over 500 people from a number of locations throughout Ireland.

Augean

Augean itself is a relatively recently formed company dating from 2004. Later in 2004 it took over Atlantic Waste Holdings and Zero Waste Holdings but was subjected to an Office of Fair Trading (OFT) Investigation regarding the acquisitions and in particular the overlap between the two companies.

The company operates hazardous waste landfills at Port Clarence in the North East and at King's Cliffe, near Stamford, Lincolnshire as well as treatment facilities and a non-hazardous landfill.

The May 2005 OFT report described Augean as "a cash shell company formed in 2004 to acquire businesses in the UK water and UK waste markets. Pre-acquisition it did not carry out any activities in waste management."

The OFT allowed the acquisition and effective merger of the 3 companies (Augean, Atlantic Waste Holdings and Zero Waste Holdings) to go ahead.


	One51 increases holding in Augean to nearly 27% (11/12/2006) One51 has bought a further 3.6% stake in UK waste company Augean, bringing its holding to nearly 27%. Augean describes itself as the market leader in hazardous waste management with a strategy to grow organically and through acquisition. One51 One51 which was formerly known as IAWS Co-Op and based in Dublin, has been in expansionist mode pursuing a number of opportunities in waste, energy and related sectors. At the end of last year One51 acquired Denis O'Brien's Rilta, trading as SITA Environmental, a hazardous waste disposal firm operating from Ireland's capital. At the time Philip Lynch, Chief Executive of One51 said that the acquisition of Rilta was another important step in the development of One51's growth strategy in the waste sector. One51 is also in a staff expansion with senior finance officers currently being recruited. The company is said to be one of Ireland´s leading investors in the waste, energy and related sectors. In addition to the Company´s existing waste, infrastructure and property interests, One51 owns a significant shareholding in NTR plc which has interests in infrastructure, waste management and renewable energy. The Company has been involved in the establishment of TechRec Ireland which will operate Ireland´s first automated plant for the recycling of waste electronic equipment(WEEE) and, as indicated above, recently acquired Sita Environmental's Irish arm. The Group employs over 500 people from a number of locations throughout Ireland. Augean Augean itself is a relatively recently formed company dating from 2004. Later in 2004 it took over Atlantic Waste Holdings and Zero Waste Holdings but was subjected to an Office of Fair Trading (OFT) Investigation regarding the acquisitions and in particular the overlap between the two companies. The company operates hazardous waste landfills at Port Clarence in the North East and at King's Cliffe, near Stamford, Lincolnshire as well as treatment facilities and a non-hazardous landfill. The May 2005 OFT report described Augean as "a cash shell company formed in 2004 to acquire businesses in the UK water and UK waste markets. Pre-acquisition it did not carry out any activities in waste management." The OFT allowed the acquisition and effective merger of the 3 companies (Augean, Atlantic Waste Holdings and Zero Waste Holdings) to go ahead.