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.
© 2019 Oaklins. All rights reserved. Oaklins is the collective trade name of independent member firms affiliated with Oaklins International Inc. For details of the nature of affiliation, please refer to www.oaklins.com/legal.