Hull-headquartered Ashcourt Group has bought a North East waste recycling business as it strengthens its position in the industry.
John Wade Group has been described as a strategic purchase, opening up new service areas and expanding the geographical reach of the high growth diversified construction and logistics specialist.
Operating from Aycliffe Quarry in Newton Aycliffe, just off the A1 in Durham, the company specialises in demolition, earthworks, plant and skip hire and waste management. It comprises two trading subsidiaries, Stonegrave Aggregates Ltd and John Wade (Haulage) Ltd. Employing more than 100 people, the last reported financial year saw Stonegrave generate revenues of £6.7 million. The undisclosed deal takes Ashcourt’s headcount well beyond 400.
Read more: MKM adds five new sites to national network with family business buy-out
Emily Summerson, group operations director, said: “We are thrilled to have completed the acquisition of John Wade Group. Their outstanding reputation and robust waste recycling facilities align perfectly with our long-term growth objectives. This strategic purchase not only allows us to expand our service areas but also provides us with a strong hub in the North East to continue to meet our growth strategy."
She described the acquisition as “another milestone in our journey to enhance our portfolio and establish a more comprehensive presence in the industry,” and said that by acquiring John Wade Group, “Ashcourt Group gains access to a well-established and highly capable team of professionals, as well as an established recycling infrastructure”. “This acquisition not only bolsters our existing capabilities but also provides us with a stronger foothold in the waste recycling sector,” she said..
Launched in 1965 it was still led by founding chair John Wade and a team of directors, prior to the deal completing.
Ashcourt itself started in student accommodation provision, adding allied disciplines through organic growth and acquisition as it has “consistently pursued growth and expansion opportunities” from its Foster Street base.
The £153 million turnover operation has vowed to continue to offer innovative waste management solutions, as well as introducing some of its existing services to the area, with Wade working across the North East, having widened its own reach beyond Durham and Teesside.
