Newly named Securecycle Scotland Ltd, the business began trading under the new owners this week. The company offers a waste collection and management service, with an annual turnover of about 4 million.
” The business is an important part of the Fife economy and so the sale represents a fantastic result. “
– Blair Nimmo, KPMG
The sale to Stirling Fibre safeguards 23 jobs at the company, which will continue to operate at the current site in Leslie, Fife.
Securecycle includes a paper recycling service with secure confidential and general collections covering factory waste paper, printer shavings, office papers, mixed papers, newspapers and pamphlets and cardboard grades.
The confidential waste destruction service services customers in the banking, legal and related financial sectors across the UK.
Stirling Fibre, based at Croy, near Kilsyth, is a long-established independent waste paper recycler, and already includes a secure shredding business.
John Connor, managing director of Stirling Fibre, told letsrecycle.com yesterday: “We have acquired the Securecycle business from the Smith Anderson group, and under the new name Securecycle Scotland Ltd, began trading yesterday.
“The new company is working in partnership with Keith Verden-Anderson, previously of the Smith Anderson Group, and the business will operate at the mill site,” Mr Connor said, confirming: “We retain all existing staff.”
“Important”
Blair Nimmo, head of restructuring for KPMG in Scotland and joint receiver for Smith, Anderson & Co Ltd, said: “The business is an important part of the Fife economy and so the sale represents a fantastic result. We wish them every success in the future.”
Mr Nimmo said the sale of Securecycle would mean existing customers “will continue to be serviced and that suppliers will have ongoing business.”
KPMG was appointed receivers of Smith, Anderson & Co last month (see letsrecycle.com story). The company, part of the Smith Anderson Group, has effectively ceased trading.
The Securecycle acquisition comes at the same time as the acquisition by Shanks of the Hannay paper recycling business (see letsrecycle.com story).
Both Hannay and Stirling Fibre are two of Scotland's most well-known paper recycling businesses and are expected to compete for commercial shredding work, which is an important revenue earner, as it is an added value business within the paper sector.
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