Shropshire waste management business Reconomy Group has bought Nottinghamshire-based UK Waste Solutions - which it described as the foremost independent waste broker in the UK. Headquartered in Newark, Nottinghamshire, UK Waste Solutions employs 160 people and owns brands including Novati, AMA, Click Waste UK and Evolution.
It acts as a consultant to businesses within hospitality, distribution, transport, facilities management, manufacturing and construction, and has 3,500 customers including Marston’s, Prezzo, Roadchef, Network Rail, CBRE and Birmingham Airport. The deal will strengthen Telford-based Reconomy’s position in the commercial waste sector as the “biggest technology-enabled, outsourced resource management” provider in the UK.
Reconomy Group recorded revenues of more than £1 billion last year across its 30 offices worldwide and is one of the UK’s largest and fastest-growing businesses operating in the circular economy, waste management and sustainability sectors. The transaction follows the acquisition of Denmark-based green-tech business Combineering in February.
Reconomy Group chief executive Guy Wakeley said: “We are delighted to welcome the UK Waste Solutions Limited team to Reconomy Group.
“It is a great fit with our business due to our shared commitment to developing closed loop solutions that will accelerate the shift towards a more circular economy.
“The transaction is consistent with our ambitious plans to grow both organically and through further acquisitions in the UK and around the world.”
Michael Benton, managing director of the recycle division at Reconomy Group, said: “UK Waste Solutions Limited has a track record of delivering an excellent outsourced service and will be a valuable addition to the Recycle Division at Reconomy Group.”
UK Waste Solutions managing director Max Kanda said: “We are excited to become part of one of the UK’s largest and fastest growing companies at a critical period for meeting the challenges of resource scarcity through technology- and data-led closed loop solutions as the adoption of the circular economy becomes increasingly central to how we do business globally.”
Cooper Parry Corporate Finance advised the UK Waste Solutions shareholders on the, marking the team’s second high profile circular economy deal in the last 18 months.
Irwin Mitchell’s Corporate team has advised Reconomy.
