Biffa hits the road every morning with its 1,400 refuse trucks collecting, treating and disposing of municipal, commercial and industrial waste – 10m tonnes of it each year. Recently, its focus has shifted towards recycling that waste and using it to produce energy. Montagu Private Equity and Global Infrastructure Partners are reportedly preparing a debt-for-equity restructuring if they fail to reach agreement with Biffa’s lenders. Led by chief executive Ian Wakelin, the combined business reported sales of £850m in the year to March 2012.
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