Reconomy Continues Growth Ambition With Acquisition Of Network Waste

Irwin Mitchell Birmingham Advises On Latest Deal

16.10.2015

David Shirt, Press Officer | 0161 838 3094

Reconomy, the Telford based provider of outsourced waste management services, has announced the multi-million pound acquisition of Just Hire UK Limited, which trades as Network Waste.

The acquisition is the second for Reconomy this year following the purchase of Countrywide Waste Management Ltd in January 2015.

Reconomy is the UK’s leading provider of outsourced waste management services to the construction, house building, infrastructure and industrial and commercial sectors.

Network Waste, which was formed in 2002, provides similar outsourced services to Reconomy and has itself grown successfully, doubling in size over the last five years to become a £20million turnover private company.

The enlarged Reconomy group of companies will now have a combined turnover in excess of £100million and the latest deal follows successive years of high growth that saw the company enter last year’s Chartered Institute of Wastes Management top 10 for the fastest growing waste companies.

Paul Cox, Group Managing Director of Reconomy said: “We are delighted with the acquisition of Network Waste – it’s an excellent business and like Reconomy it has a strong team that is performing well. It has been very successful in recent years, with an excellent customer base which complements that of Reconomy.

“The acquisition of Network Waste further underlines Reconomy’s position as a clear leader in its field and we are looking forward to working together to develop the combined business.

“We still feel there is additional growth out there for Reconomy.  We are not a company to rest on our laurels and we will always continue to move forward, looking ahead as to how we can improve, grow and develop ourselves well beyond the expectations of a traditional waste management provider.

“We will look to invest in Network Waste and strengthen our workforce in the coming weeks and months to ensure we maintain a first class service to our customers.  There is no denying it’s been an incredibly busy period for all involved at Reconomy, however we are all excited by the challenge of continuing this growth into 2016 and beyond.”

The Birmingham office of national law firm, Irwin Mitchell, advised on the deal. Rob Laugharne, Senior Associate in Irwin Mitchell’s Corporate team in Birmingham, said:

Expert Opinion
“We are delighted to have advised Reconomy again on what is their second deal this year. This is another complementary acquisition for the business which will no doubt strengthen its market position and boost its growth plans for 2016.”

Rob Laugharne, Partner

Chris Price, Group Finance Director at Reconomy, added: “This is another positive step forward for Reconomy and will assist us in achieving our ambitious growth plans. Irwin Mitchell’s corporate team also did a great job in getting this latest acquisition over the line, again robustly representing our interests and achieved a timely, successful outcome to the deal process.”