Waste management giant cleans up with Newark acquisition
Newark-based UK Waste Solutions, the sustainability consultants and managers, has been sold to waste management giant Reconomy, of Telford.
Reconomy has bought all four of UK Waste Solution’s primary brands, including Novati which works with the likes of Marston’s, Prezzo, Roadchef, Network Rail, CBRE and Birmingham Airport.
Reconomy Group recorded revenues of over £1bn through FY 2022 across its 30 offices worldwide.
Guy Wakeley, Reconomy Group’s chief executive, 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 Recycle Division at Reconomy Group, added: “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. Its customer-led approach aligns perfectly with our values and deepens our capabilities. It increases our joint offering in the commercial, industrial and construction industry to deliver economic and environmental benefits for businesses, providing an unrivalled, added-value outsourced alternative.”
Emma Callow, Matt Smith, and Deirbhile Lynam from Irwin Mitchell’s corporate team, together with colleagues from the firm’s corporate tax team, advised Reconomy on the deal.
Callow said: “We are delighted to have been involved in Reconomy’s acquisition of UK Waste Solutions. This deal marks another important milestone for Reconomy, and we are proud to continue working with the Group and supporting their growth strategy.”
Cooper Parry Corporate Finance advised the shareholders of UK Waste Solutions.