After 7 months of uncertainty, finally the Munster and Connacht waste operator Mr. Binman has been saved from receivership by an investor group led by Dillon Waste and Recycling. In October 2012 Bank of Scotland placed Mr. Binman in receivership with debts of €53 million, but kept the business as a going concern.
Yesterday it emerged that Tralee based Dillon Waste & Recovery MD Brian Dillon is to lead a consortium after purchasing the Mr. Binman’s operations in Limerick, Kerry, Cork and Galway for an undisclosed amount.
KPMG, who were appointed receivers, commented yesterday that they were delighted that a suitable buyer had been found.
Brian Dillon, Managing Director of Dillon Waste, commented “the business has managed to hold it’s own through the receivership despite a highly competitive market”.
Source: Ronan McGlade