Skip to main content

Hire Purchase and Regional Growth Fund - P A Moody Recycling Limited

P A Moody case study

 

Company profile

P A Moody Recycling Limited trading as Gap Waste Management, is a family run business established in 2005. Peter Moody, Company Director and his wife Sharon Moody, Company Secretary, currently employ 56 employees with a focus on the collection and recycle of electrical waste in the North East of England.

Due to regulations through The Waste Electrical and Electronic Equipment Directive (WEEE Directive),all electrical waste from battery chargers to refrigerated units from the business sector have to be collected and recycled  to minimise the effect on the environment.

P A Moody are the only company with a WEEE recycling facility in the area which allows them to cover the whole North East to up to the Scottish borders.

Business Challenge

In 2014, P A Moody moved into a larger 6-acre site in order to deal with the expanding business opportunities and now wanted to invest in further equipment to manage two new big contracts that had recently been awarded.

They were looking to purchase two new shredders and two hook loaders to support the new workload.

The Solution

Peter contacted Untha UK waste management supplier, who Close Brothers Asset Finance have a long-term working relationship with and Peter arranged to meet Paul Hindle from Close Brothers Asset Finance to discuss their options.

Paul advised that GAP were eligible for a Regional Growth Fund (RGF) grant, which is a government based grant. Paul guided Peter Moody with the RGF application and the business was successfully awarded £110,000 from the grant towards the new machinery. With the RGF approval, Close Brothers were able to tailor the remaining finance into a Hire Purchase agreement, which means at the end of the term, ownership of the new assets would be with GAP Waste Management. 

The Result

The RGF grant has created seven new  jobs with a further five to follow in the next 12 months, which will include two new hook loader drivers, specialist high value item pickers and labourers to name but a few. This is a great result for all concerned and a success story that 12 new jobs will be created allowing the business to become a superior competitor in the electrical recycling business.

Peter Moody from Gap Waste Management:

“Close Brothers were able to help us with the right finance option for us that allowed us to develop and grow our business and become a bigger presence in the Electrical recycling sector and we are now looking to vastly expand our collecting operation”

Marcus Brew from Untha UK

"Having been in talks with Gap for some time, we had the opportunity to support the client from the very outset of this project. We understood their goal to create a ‘best in class’ “WEEE processing facility, and worked collaboratively to design a complete system for handling SDAs (small domestic appliances), LDAs (large domestic appliances) and other general WEEE items.

"This resulting solution comprises a picking line, pre-shredder, four shaft RS100 shredder, magnets and eddy current separator, to ensure maximum recovery rates and, consequently, revenue generation. Throughout the design process, the focus was to achieve high quality shred and particle homogeneity, to allow all downstream separation equipment to do its job to the best of its ability. This is a robust yet cost-effective plant, which is now achieving impressive recovery rates.”