Tidy deal for Telford recycling firm
A TELFORD-based outsourced recycling and waste management firm has bought a Shropshire rival.
Reconomy has bought Shrewsbury-based Countrywide Waste Management for an undisclosed sum.
The enlarged Reconomy group of companies will have a combined turnover in excess of £80m.
The move follows successive years of high growth that led to Reconomy entering the CIWM’s Catalyst Corporate Finance top ten fastest growing waste companies (based on 2012 and 2013 performance).
Paul Cox, managing director of Reconomy, said: “There are many synergies between the two businesses, in terms of culture and customer base and, moving forwards, Reconomy and its customers will have the benefit of working with a wider supply chain aimed at delivering an enhanced level of services, great customer satisfaction and competitive prices.”
The deal also includes the acquisition of Countrywide’s subsidiary, MT Waste Management, based in Milton Keynes.
The newly acquired companies will, in the short term, continue to operate separately with no anticipated disruption to day to day operations.
The corporate team at the Birmingham office of law firm Irwin Mitchell advised Reconomy on the deal.
Senior associate Rob Laugharne said: “This is an important deal for both parties and together I look forward to seeing the combined business expand and build greater market share in the UK.”
