Reconomy announce second acquisition for the year
Company acquires Network Waste as part of long-term business growth strategy
RECONOMY, one of the UK’s leading providers of outsourced recycling and waste-management services, have confirmed the purchase of Network Waste. The recent acquisition follows the buyout of Countrywide Waste Management Ltd earlier this year and maintains a significant period of growth for the Telford-based company over the last four years.
Commenting on the deal, Paul Cox, managing director of Reconomy, said: ‘We are delighted with the acquisition of Network Waste – it’s an excellent business and like us it has a strong team that is performing well. It has been very successful in recent years with a good customer base which complements that of Reconomy.
‘The business also has a strong focus on staff development and a company culture that we feel will not only work well with us but also help Reconomy to grow and enhance its unique approach to waste management.’
The move to acquire Network Waste builds on Reconomy’s impressive growth since 2011, which saw the recycling firm enter the Chartered Institute of Wastes Management (CIWM) top 10 of fastest growing waste companies in 2014.
The growth, helped by a number of prestigious contract wins including with Kier, Morgan Sindall and Lendlease, plus the renewal of a major contract with Balfour Beatty, further strengthens Reconomy’s position in the recycling and waste-management markets.
Mr Cox continued: ‘We still feel there is additional growth out there for Reconomy. We are not a company to rest on our laurels and we will always continue to move forward, looking ahead as to how we can improve, grow and develop ourselves well beyond the expectations of a traditional waste-management provider.
‘There is no denying that it’s been an incredibly busy period for all involved at Reconomy, however, we are all excited by the challenge of continuing this growth into 2016 and beyond.’
