Straight plc has conditionally agreed to acquire Blackwall Ltd. for a combination of cash and stock. The purchase is subject to shareholder approval at a meeting Jan. 17th.
Both companies are suppliers of container solutions for source separated waste to local authorities, waste management companies, municipalities and the private sector.
Straight is a significant player in the curbside container market, while Blackwell is focused more on the home composting business.
Both companies are based in the United Kingdom.
James Newman, Straight's chairman, commented: "I believe that the merger of Straight and Blackwall will significantly benefit our shareholders as well as the customers, suppliers and employees of both companies. It will create a company with significant scale to take advantage of the growing market for the company's products."
Max Davidson, joint managing Director of Blackwall, said: "The obvious synergies between the two companies make the merger of the two organizations an exciting prospect. The drive and energy that Jonathan Straight brings to his business links perfectly with the marketing, customer service and operational skills we have developed at Blackwall. Both Grant Blakemore and I believe that this merger will be in the best interests of all our customers, suppliers and staff and offers significant opportunities for all concerned."