Trade buyer seeking a bolt on that improves density, raises utilisation and increases contracted income. Target is waste management & recycling with regulated processes, clear audit trails and dependable contracted revenues. Valuation expectations must reflect cash generation, compliance strength and operational risk. Would consider phased integration to avoid disruption to contracts, sites or customer accounts. US buyer open to UK targets where management depth, compliance and reporting are proven. Target turnover band £3m to £5m.