Waste management group buys £13m-turnover brokerage

RECONOMY, the Telford-based provider of outsourced waste management services, has bought Cory Environmental’s national waste brokerage businesses.

The acquisition is the third for Reconomy since the start of 2015 and follows the purchase of Countrywide Waste Management and Network Waste.

The brokerage business, which includes Skippy Nationwide, Skip Hire UK and Cory Environmental Recycling Services, reported 2015 revenues of £13m and employs 38 people.

As a result of the acquisition, Reconomy currently predicts pro-forma revenue of £125m by the end of this year.

Reconomy provides outsourced waste management services to the construction, house building, infrastructure and industrial and commercial sectors.

Paul Cox, group managing director of Reconomy said: “Cory Environmental’s brokerage arm is a group of businesses we know very well being in such close proximity to ourselves – it’s an important acquisition for us with a business that boasts an excellent customer base and one which complements that of Reconomy.

“The acquisition of the brokerage businesses from Cory Environmental Group further underlines Reconomy’s position in the waste management sector as an industry leader and demonstrates that businesses want more from a waste provider than simply disposing of their waste.” 

The Birmingham office of law firm, Irwin Mitchell, advised on the deal.

Rob Laugharne, partner in Irwin Mitchell’s corporate team in Birmingham, added: “Its two recent acquisitions have provided a significant boost and this latest addition provides some exciting opportunities for strengthening its market position even further.”