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Leicester MRF for Reconomy in Casepak deal

Outsourced waste and recycling services company Reconomy has today (23 December) announced the acquisition of the Leicester-based waste management company, Casepak.

Reconomy Casepak
The deal includes Casepak's 165,000 tonne MRF in Leicester

The deal for an undisclosed sum includes Casepak’s sister trading company, Oceala, as well as both its 165,000 tonnes per-year capacity materials recycling facility (MRF) and processing plant in Leicester.

Reconomy said the acquisition “enhances” its waste processing capabilities and “reinforces its commitment to UK sorting and recycling infrastructure”.

Casepak works with a range of commercial customers as well as partnering with local authorities throughout the UK, while Oceala specialises in providing waste management services to ‘high profile’ retailers across the country.

It will remain very much business as usual for our staff and customers

– Mark Smith, Casepak

‘Proud’

Mark Smith, joint managing director of Casepak said: “We are extremely proud to have grown Casepak into such a successful company while remaining family-owned and operated. However, to continue to grow and take advantage of future opportunities the time is right to change the ownership structure and we are very excited to join up with the Reconomy Group.

“It will remain very much business as usual for our staff and customers, while providing further scope for increased innovation and development.”

Turnover

Casepak was founded in 1973 by George Smith and has grown into one of the UK’s leading recycling and waste management companies.

Reconomy’s acquisition of the company is its fourth of the year, growing its turnover to more than £800 million. The company is owned by EMK Capital which acquired Reconomy in 2017

‘Innovative’

Paul Cox, chief executive of Reconomy

Paul Cox, chief executive of the Reconomy Group added: “We’re delighted to bring Casepak into the Reconomy family and wish a warm welcome to all of our new colleagues. Casepak is an innovative company, with a commitment to high quality and great customer service.

“We see great potential for the future as the Reconomy Group continues to build its portfolio of services and deliver a circular economy vision, helping our commercial customers work towards a sustainable future.”

The deal adds to Reconomy’s range of recycling facilities in the UK, following the acquisition of the plastics recycling business Eurokey Recycling earlier this year (see letsrecycle.com story). It also owns the Valpak compliance and consulting business which has a strong market share in the producer responsibility sector for packaging.

Eurokey

In September, Eurokey announced a £15 million investment in a new sorting facility in Kettering for supermarket films and flexible plastics, coming online in 2022.

Cooper Parry Corporate Finance and Knights plc acted as lead advisor and legal advisor respectively to the Casepak and Oceala shareholders.

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