Outsourced waste management and recycling services specialist Reconomy has announced the acquisition of Prismm Ltd, the latest in a series of acquisitions by the business.
Founded in 2000 and based in Kent, Prismm – which uses the brand ‘Prismm Environmental’ – provides consultancy, waste management and compliance services. It specialises in the output from UK factories and commercial premises of materials which it says are seen as ‘difficult to recycle’.
The company said it aims to achieve zero to landfill for its clients, primarily in the printing and packaging industries.
This is the fourth business acquisition announced by Reconomy in just over 12 months, following that of Waste Check, Helistrat and Valpak in 2018 (see letsrecycle.com story).
As a result of its growth through acquisitions, Reconomy’s revenue for the end of 2019 is forecast to exceed £260 million, the company said.
Reconomy says that Prismm’s reputation for innovative thinking and “adopting new ways of working” aligns closely with its own strategy of prioritising tech-enablement for detailed waste data, faster turnaround of information and improved accuracy in service fulfilment to its customers.
Commenting on the acquisition, chief executive of Reconomy, Paul Cox, said: “We’re delighted to announce the acquisition of Prismm, a company that shares Reconomy’s focus on customer-centricity and working collaboratively to find innovative solutions to today’s waste management challenges.
“This is another important step in our ambition to double the size of the Reconomy group in the next two to three years and further enhance our proposition in the business and industry sector.”Paul Cox
“This is another important step in our ambition to double the size of the Reconomy group in the next two to three years and further enhance our proposition in the business and industry sector.”
Mike Jackson, managing director of Prismm, said: “These are very exciting times for Prismm. We have managed to find a company with the same values as ours for innovation and excellence in service. Our team are extremely excited about taking Prismm to the next level now we are part of the Reconomy Group of Companies”.
Mike’s father, Adrian Jackson, who set up Prismm in 2000, has been the chair of the Recycling Association for a number of years although he is stepping down from the post, and Mike Jackson is also a board member. Clients of Prismm include De la Rue and Lush Cosmetics.
Based in Telford, Reconomy principally operates across four key sectors: commercial construction, housebuilding, infrastructure and business & industry.
Providing outsourced waste services for SMEs and blue-chip clients, the company handles over 100,000 waste movements every week and annually manages a reported 3 million tonnes of waste.