The Sims Group has spread its wings further and acquired a Middlesex-based refurbishment and recycling company, Life Cycle Services (LCS), for an undisclosed sum.
This new acquisition follows on from Sims recent purchase of Recommit, another IT recycling service.
LCS main focus is on providing a service for its clients to re-use IT equipment and minimise waste. If a high street bank or work office is moving or refurbishing its office then LCS can place used computers with charities or sell them on to its clients.
The combination of Life Cycle Services and Sims is very exciting for both businesses. It will be a combination of re-use and recycling, LCS founder Jon Godfrey told MRW.
Development within our market place was fragmented and we were looking to change our technology services. It is very exciting merging of LCS and SIMS and we will be able to provide a service on an international basis as well as throughout the UK.
There is a lot of consolidation in the Waste Electrical and Electronic Equipment market place and it is beginning to settle down. A lot of new companies have joined the market and it is a tough market place. We have seen a lot of new companies start and fail. This is because there are numerous amounts of companies joining the market place and economics will suggest that not all businesses can succeed.
Sims chairman of Europe and Australia Jeremy Sutcliffe said: The acquisition will enable us to realise further commercial and operational synergies from our recent acquisition of Recommit and our existing e-recycling business, and further strengthen our management team.
The new service will be called Sims Lifecycle Services.