Reconomy has today confirmed the acquisition of Cory Environmental’s National Waste Brokerage Businesses.
The group, which includes UK Nationwide Skip Hire Limited, trading as Skippy Nationwide, Skips @ Home Limited, trading as Skip Hire UK, and Cory Environmental Recycling Services Limited, collectively reported revenues of £13m for the year ending 2015, employing 38 people.
This latest acquisition by Reconomy follows the purchase of Countrywide Waste Management Ltd and Network Waste in 2015, maintaining a significant period of growth for the Telford-based company over the last four years. As a result of the acquisition, Reconomy currently predicts a pro forma revenue of £125m by the end of 2016.
“Cory Environmental’s brokerage arm is a group of businesses we know very well, being in such close geographical proximity to ourselves”
Paul Cox, managing director of Reconomy, commenting on the deal, said: “Cory Environmental’s brokerage arm is a group of businesses we know very well, being in such close geographical proximity to ourselves.
“This is an important acquisition for us, with a business that boasts an excellent customer base, which complements that of Reconomy. The business has a strong focus on customer service and a company culture that we feel will not only work well with Reconomy, but also help us to grow and enhance our unique approach to waste management.”
“The acquisition of the brokerage businesses from Cory Environmental Group further underlines Reconomy’s position as an industry leader in the waste sector and demonstrates that businesses want more from a waste provider than simply disposing of their waste.”
Cox continued: “We will continue to invest in each business within our portfolio and look to strengthen our workforce in the coming weeks and months to ensure we maintain a first class service for our customers.”