Irwin Mitchell Advises On Latest Deal For Acquisitive Waste Management Firm
Telford-based provider of outsourced waste management and recycling services, Reconomy, has completed its fourth acquisition in just over 12 months with the purchase of Prismm.
Prismm was founded in 2000 and is based in Kent. It provides consultancy, waste management and compliance services, and specialises in the output from UK factories and materials that are particularly difficult to recycle.
Reconomy's combined revenue for the end of 2019 is forecast to exceed £260m and this latest deal follows that of Waste Check, Helistrat and Valpak in 2018.
Paul Cox, Reconomy’s chief executive, said: “We’re delighted to announce the acquisition of Prismm, a company that shares Reconomy’s focus on customer-centricity and working collaboratively to find innovative solutions to today’s waste management challenges.
"This is another important step in our ambition to double the size of the Reconomy group in the next two to three years and further enhance our proposition in the business and industry sector.”
Mike Jackson, managing director of Prismm, added: "These are very exciting times for Prismm. We have managed to find a company with the same values as ours for innovation and excellence in service."
Expert Opinion“We have a long-standing relationship with Reconomy having advised them on a number of deals before, including the acquisition of Waste Check last year. The purchase of Prismm is another important purchase for Reconomy and will broaden its range of services and certainly help support its expansion plans across the UK.” Nick Dawson - Partner
Earlier this year, Experian, the global information services company, ranked Irwin Mitchell in 10th place within its 2018 UK league table of the most active M&A law firms. The Birmingham office recently announced the appointment of Corporate partner, Emma Callow, and the promotion of Matt Smith to associate.