Reconomy ‘enhances position’ with UK Waste Solutions deal

Reconomy said the deal further enhances its position as the “largest and fastest growing outsourced resource management solution in the UK”.

In its last published results, to March 2022, UK Waste Solutions – which is based in Newark, Nottinghamshire – reported a turnover of £46.5 million with a profit margin of 19% and directors listed as Christopher Giscombe and Garry Johnson.

UK Waste Solutions, in its results, also highlighted how as a broker it is “unencumbered with managing facilities and vehicles”. Extended contracts included work for Network Rail and Amey and the company also works with brands including Marston’s, Prezzo, Roadchef, CBRE and Birmingham Airport.

Biggest

In a statement today, Reconomy, highlighted the size of its operations after the UK Waste Solutions purchase which brings over 3,500 customers. The company said: “The acquisition of this fast-growing, profitable business and the foremost independent waste broker in the UK includes all four of UK Waste Solution Limited’s primary brands (Novati, AMA, Click Waste UK and Evolution) and its 160 employees. It further strengthens Reconomy’s market-leading position in the commercial waste sector as the biggest technology-enabled, outsource resource management solution in the UK.”

It further strengthens Reconomy’s market-leading position in the commercial waste sector as the biggest technology-enabled, outsource resource management solution in the UK’

– Reconomy

Reconomy Group added that it is one of the UK’s largest and fastest growing businesses operating in the circular economy, waste management and sustainability sectors.

Closed loop

Guy Wakeley, chief executive of Reconomy Group, said: “We are delighted to welcome the UK Waste Solutions Limited team to Reconomy Group. It is a great fit with our business due to our shared commitment to developing closed loop solutions that will accelerate the shift towards a more circular economy. The transaction is consistent with our ambitious plans to grow both organically and through further acquisitions in the UK and around the world.”

Track record

Michael Benton, managing director of the Recycle Division at Reconomy Group, commented: “UK Waste Solutions Limited has a track record of delivering an excellent outsourced service and will be a valuable addition to the Recycle Division at Reconomy Group. Its customer-led approach aligns perfectly with our values and deepens our capabilities. It increases our joint offering in the commercial, industrial and construction industry to deliver economic and environmental benefits for businesses, providing an unrivalled, added-value outsourced alternative.”

Commitment

Max Kanda, managing director at UK Waste Solutions Limited, said: “Reconomy Group’s commitment to innovation in the circular economy and well-established footprint across the UK market will strengthen our combined growth, as we will be able to offer a wider range of services to our joint customer base. We are excited to become part of one of the UK’s largest and fastest growing companies at a critical period for meeting the challenges of resource scarcity through technology- and data-led closed loop solutions as the adoption of the circular economy becomes increasingly central to how we do business globally.”