The move comes following successive years of high growth that has seen Reconomy enter last year’s CIWM’s Catalyst Corporate Finance top 10 fastest growing waste companies (based on 2012 and 2013 performance) with additional expected growth of 15% in 2014.
The acquisition also includes a wholly owned subsidiary of Countrywide, MT Waste Management Limited, based in Milton Keynes and Reconomy states that the new, larger group of companies will have a combined turnover in excess of £80m, adding that it “demonstrates a significant step toward ensuring we continue to provide industry leading services to an increasing number of clients that view outsourcing their recycling and waste services as the most efficient method of managing their waste.”
Paul Cox, managing director of Reconomy said, “We are delighted to have acquired Countrywide Waste Management Limited to further establish ourselves as the leading provider of waste services to the construction (and related) industries. The synergies between the two businesses, both in terms of culture and customer base, means Reconomy will quickly benefit from an increased supply chain that can deliver enhanced customer requirements, satisfaction and competitive prices.”
The newly acquired companies will, in the short term, “continue to operate separately with no anticipated disruption to the day to day operations” Reconomy said in a statement.