Viridor acquires Reconomy in £23.8m purchase Recycle
Viridor, a recycling and waste management firm, has acquired Reconomy Group, an independent recycling and waste management firm.
The groups will merge as part of Pennon Group with Reconomy Recycling Solutions being added in to the mix. The sale was made with a cash consideration at £23.8m. Reconomy said the sale would now allow the group to focus more closely on its core business as an outsourced waste management solutions firm. The group focuses on securing consumers from the construction, house building, facilities management, utilities and retail sectors.
The takeover will allow Viridor to assume control of RRS’s sites at Northamptonshire and a transport base located in Suffolk. The group also has a recycling centre in Soham in Cambridgeshire. Viridor has sites all across the UK including Lowestoft, Diss, Beccles, Bury St Edmunds, Southwold and Mildenhall. The firm focuses on recycling, waste management as well as renewable energy.
RRS’s headquarters will remain in Northamptonshire under the move and continue to incorporate recycling and waste management operations at its three material processing centres. The recycling firm also commands a 50 vehicle fleet of collection crews, facilities for card, paper and plastics processing, confidential destruction, as well as a waste transfer station. More than 150 people work for the newly acquired company and it handles roughly 250,000 tonnes of rubbish each year, of that almost half gets recycled.
