Transaction Part of £1 Billion Company’s Ongoing Expansion Plans
Irwin Mitchell’s Corporate team has advised Reconomy on its purchase of Doncaster-based Ecofficiency Limited.
Reconomy is one of the UK’s largest and fastest-growing businesses operating in the circular economy and it has acquired Ecofficiency to strengthen its position across the UK’s construction, infrastructure, and house-building waste management sectors.
The acquisition of Ecofficiency’s specialist soil sampling and remediation services – designed to reduce the bulk volume of waste by segregating hazardous materials and retaining recycled soils on site – further enhances the breadth and depth of services that Reconomy Group offers its clients.
Expanding into this specialism aligns with the Group’s mission to achieve a more circular economy where finite resources are preserved while simultaneously creating value for businesses and supporting economic growth.
It is the latest Reconomy deal that the team at Irwin Mitchell has advised Reconomy on having helped secure the acquisition of UK Waste Solutions in May 2023.
Emma Callow, Matt Smith, and Alex Bloomer from Irwin Mitchell’s Corporate team, together with Kate Featherstone and James Arnold from the firm’s Corporate Tax team, advised Reconomy.
Expert Opinion"We are thrilled to have advised Reconomy on their latest deal, which further highlights their ambitious growth strategy and commitment to being a market leader. Reconomy's ongoing acquisitive approach demonstrates their dedication to expanding their reach, enhancing their service offerings, and ultimately driving value for their customers. It's a privilege to be part of their exciting journey and to support them in achieving their bold vision for the future." Emma Callow, corporate partner at Irwin Mitchell
Guy Wakeley, chief executive of Reconomy Group, said: “Reconomy is delivering on our strategy of strong growth, organically and through global acquisitions that strengthen and differentiate our offering. Ecofficiency enhances our remediation capabilities and will be a fantastic addition to Reconomy as we relentlessly pursue our joint ambition of a more circular, sustainable economy.”
Simon Raven, managing director of Ecofficiency, said: “We are delighted to be joining Reconomy Group, a market leader in the waste management and sustainability sector. Together, we are in a great position to continue innovating as we drive the circular economy forwards and help businesses become more sustainable.”
Reconomy Group recorded revenues of over £1 billion through FY 2022 across its 30 offices worldwide and is one of the UK’s largest and fastest-growing businesses operating in the circular economy, waste management and sustainability sectors.