Paul Cox, the Managing Director of Telford-based business Reconomy, has won a prestigious Entrepreneur of the Year award.
The annual Ernst & Young Entrepreneur of the Year programme celebrates individuals that are responsible for building and leading successful and dynamic businesses across the UK.
At this year’s gala awards ceremony for the Midlands region, Paul won the hotly contested Transformational Leader category, which acknowledges entrepreneurs with the vision and determination to lead an organisation on to bigger and better things.
Reconomy is the UK’s leading provider of outsourced waste management and recycling services. Formed in 1994, the company is responsible for managing approximately 3 million tonnes of waste each year, on average diverting 93% away from landfil.
Paul Cox joined Reconomy in 1999 as Operations Director, bringing with him a strong and hands-on approach to the day-to-day management of numerous business operations. As an existing shareholder in the company, Paul led the sale of Reconomy to private equity firm Bregal Capital in 2006 and was subsequently elevated to Managing Director.
In 2016, turnover for Reconomy grew by 27% to £111million. This, together with a continued tight control on internal costs, enabled Reconomy’s EBITDA to increase by 30% to £10.2million over the same period.
Commenting on his award win, Paul said: “I was honoured to have been shortlisted alongside such an incredible group of businesspeople, but to have won this award is extremely humbling.
“I’m hugely proud of everything that has been achieved at Reconomy, particularly in the last few years during which we’ve experienced unprecedented levels of growth.”