London-based First Mile has announced the acquisition of specialist local waste and recycling collector Giraffe Recycling, which also operates in the capital.
The acquisition, which became effective on 29 July, follows the retirement of managing director at Giraffe Recycling, John Lowery, and consolidates a “significant investment” required to recover successfully from the coronavirus pandemic.
First Mile said that the acquisition would “better serve” customers as part of a company with more available resources and that “no major changes” are planned for the businesses in the short term.
Founder and CEO of First Mile, Bruce Bratley, said: “As our customer base reopens from COVID lockdown, this acquisition reinforces First Mile’s commitment to business growth and allows us to continue to invest in our service in the heart of London. We look forward to getting to know our new customers, and the opportunity to continue and expand the superb services provided by Giraffe Recycling.”
John Lowery, managing director at Giraffe Recycling, added: “First Mile is incredibly committed to environmental best practice within the sector, backed up with outstanding customer support. I have no doubt that they will continue the fantastic service previously provided by Giraffe, and that our customers are in great hands. I wish them all the best for the future.”
Mr Bratley explained to letsrecycle.com today that First Miles’ service areas remain in its core territory, and the acquisition allows it to grow customer numbers and expand recycling services. First Mile also confirmed that with “significant investors” behind it, the company is interested in further acquisitions around the M25, potentially of businesses that require investment as a result of the pandemic. And, opportunities are also a possibility in the Birmingham area.
In terms of the current market, Mr Bratley said that business is “definitely picking up” following the Covid-19 crisis, although London is “still quiet, but getting busier over time”.