Alibone's becomes the latest of a succession of small- and medium-businesses involved in the paper recycling sector to be sold by family owners.
Reconomy was founded by private equity fund Englefield Capital to invest in the waste and recycling arena.
Chief executive Martin Nye – who was previously with Mentmore and Exel Logistics – said the company could not disclose the purchase price but was pleased with the acquisition of Alibone and “is looking to expand further”.
Reconomy's operations director is Peter Hathaway, a former commercial director of SITA UK, and he will have overall supervision of Alibone's. However, Mr Nye emphasised that the Gray family – brothers Ian, Mark and Paul – will remain with the business and the Alibone company name is to remain.
Alibone has been in business for more than 40 years and is seen in the sector as having a well-respected name. It provides a range of services including security shredding, plastics recycling and organics services.
Oakley
The purchase of Alibone strengthens Reconomy's involvement in the region as Alibone will work with Corby-based Oakley Waste Management which is also owned by Reconomy.
Oakley is one of the larger companies of its kind in the East Midlands and has a fleet of 30 vehicles operating from a five-acre site and had a turnover of about £9 million in 2006. Oakley is planning a large materials recycling facility in Corby. In 2006, Oakley said that with greater efficiencies and management changes margins had been greatly increased.
Reconomy also owns Wastefile, an outsourced waste services provider based in Telford, West Midlands, which operates nation-wide skip brokerage, waste management and compliance services.
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