Waste oil company acquired as part for growth strategy
One of the UK’s leading hazardous waste management companies, Slicker Recycling has acquired Hull based, RE:Group for a undisclosed sum.
RE:Group, which employs around 50 staff at its base in Hull, provides waste oil collection and processing, industrial services and advanced fuel manufacturing.
The acquisition is the latest part of a growth strategy by Slicker, which last year saw it co-invest in a 100,000 tonne per annum base oil re-refinery situated in Denmark through its parent company Greenbottle Limited.
RE Group’s managing director Paul Waine, who started the company in 1996 and now joins the board of Greenbottle, said: “Slicker Recycling has in recent years invested significantly more in this sector than anyone else, so the chance to integrate RE:Group and play a part in the continued growth story is a fantastic opportunity.”
Mark Olpin, managing director of Slicker Recycling, said: “The acquisition of RE:Group is an excellent strategic fit, increasing our UK storage capacity, geographic reach, additional export options, innovative process capabilities and new products and services to offer our customers.
“RE:Group is a solid well-run business and we are extremely excited by the opportunities this acquisition provides.”
“Together with the investment in the Danish re-refinery, it shows both the level of support and ambition the shareholders have for the business.”