DCC plc and Michael Tracey, the Managing Director of the William Tracey Group, have formed a new holding company, DCC Environmental Britain Ltd, which will own DCC's British environmental operations. Total value of this transaction is US$14 million.
Prior to the reorganization, DCC and Michael Tracey each owned 50% of the William Tracey Group and 90% and 10% respectively of Wastecycle Ltd. The William Tracey Group and Wastecycle will now become 100% subsidiaries of DCC Environmental Britain Ltd, which will be owned 70% by DCC and 30% by Michael Tracey.
Oaklins' team in Ireland advised the buyer in this transaction.
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