DYLAN WASTE has bought waste collection group Mr Binman out of receivership.

Bank of Scotland placed Mr Binman, which has operations in Munster and Connacht, in receivership last October with debts of €53 million, but kept the business trading as a going concern.

Yesterday it emerged that Tralee-based Dylan Waste has bought Mr Binman’s operations in Limerick, Kerry, Cork and Galway for an undisclosed sum.

The deal does not include Clearpoint and O’Mearas (Mr Binman Clonmel), which will continue to trade as normal in receivership.

Kieran Wallace, who was appointed receiver along with KPMG colleague Padraic Monaghan, said he was delighted that a suitable buyer had been found.

Brian Dillon, managing director of Dillon Waste, said the business had managed to hold its own through the receivership despite a highly-competitive market.