Reconomy acquires Cory Environmental Group’s National Waste Brokerage Businesses
Reconomy, the UK’s leading provider of outsourced waste management services, 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.
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.”
Reconomy’s growth comes on the back of being crowned Resource Management Business of the Year at the 2016 National Recycling Awards in July.
Mr Cox continued: “There has never been a better time to be part of Reconomy as we continue to grow, look ahead and develop ourselves well beyond the expectations of a traditional waste management provider.”
“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. Whilst uncertainty remains in the UK construction market, Reconomy continues to provide an alternative approach to customers that delivers great service, reduced hassle and cost efficiencies.”
Shropshire-based Reconomy is the UK’s leading provider of outsourced waste management services to the construction, house building, infrastructure and industrial and commercial sectors.