According to Reconomy ,the acquisition creates a “scaling opportunity to build on its already strong market position in the UK SME market”.
Circle Waste, headquartered in Kings Lynn, said its focus is on providing waste management services to small and medium sized enterprises (SME) customers in the UK, focusing on the construction industry and closely associated sectors.
‘Delighted’
Guy Wakeley, chief executive at Reconomy, stated: “We are delighted to welcome Circle Waste to Reconomy, which will accelerate our growth in the SME market. We were impressed by Circle Waste’s strong customer relationships and by its digital marketing expertise.
“The Circle Waste leadership team, led by Chris Dear and Mark Garwood, will be committing to Reconomy and adding their expertise to drive forward this exciting new stage.”
Platform
Michael Benton, managing director of Reconomy’s recycle loop, added: “Circle Waste enhances our waste management capabilities and creates a platform for Reconomy to grow further within the SME segment, especially in the construction market.
“We have long been investing into our technology capabilities to optimise our operations and enhance the customer experience. Combining their strengths in digital marketing with Reconomy’s tech-enabled proposition, leaves us strongly positioned to continue to grow and pursue our purpose of enabling the circular economy.”
Opportunity
Chris Dear, managing director of Circle Waste, said: “We are delighted to be joining Reconomy. It provides us with an outstanding opportunity to grow our customer base and combine the technology driven applications and innovation already established within Reconomy with our expertise. This, coupled with our joint desire to help businesses become more sustainable within a circular economy is an exciting journey to embark on together.”
Reconomy’s annual revenues have increased by 24% to £1.23 billion (2023), and the business has expanded to operate across more than 80 countries.
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