Ed Fazakerley of AMJPE
said: "Zero Waste's ability to accept a wide range of hazardous waste into its Port Clarence site in a period of increasing regulatory control significantly enhanced the company's strategic importance.
When the founder decided it was time to retire in 1997 AMJPE
found the capital for the business to be sold to the management and since then it has grown considerably.
Mike Collis who negotiated the sale on behalf of AMJPE
, said yesterday: 'The successful sale of Conveco is the result of strong collaboration between the management team and our professional advisors who have worked effectively to get the deal away.
Hammonds in Birmingham advised 3i, AMJPE and the management team.
Mike Collis, who negotiated the sale on behalf of AMJPE, said: 'The management team has done a superb job in developing the business through carefully selected acquisitions, improving the profitability and establishing Laurel as a major player in the UK funerals market.
In the deal, AMJPE has taken a minority shareholding in TMI.
Harry Jeavons-Fellows, head of the Birmingham office of AMJPE, said: 'TMI is a business with a significant market share operating in a growing marketplace, and hence with top line growth opportunities.
The deal with AMJPE
involved a number of Birmingham advisers, including Wragge & Co and Deloitte & Touche, and took just 88 days to complete.
We aim to have at least 50 food-led managed houses within three years with the support of AMJPE