Viridor has acquired waste management company Reconomy Recycling Solutions (RRS) for £23.8m.
Headquartered in Northamptonshire, RRS – which comprises Oakley Waste Management and Basecall – is the leading independent operator for the south Midlands and East Anglia. It processes 250,000 tonnes of material a year through its three materials recycling facilities, of which 150,000 tonnes are recycled. The company also holds a fleet of 50 refuse collection vehicles and a waste transfer station.
Following yesterday afternoon’s acquisition, RRS’s assets and staff will be absorbed into Vidiror’s south east region and trade as Viridor.
Viridor managing director Mike Hellings said: “The UK’s waste strategies demand ever-increasing levels of recycling. RRS has an excellent track record in recent years in providing essential recycling services to businesses in its operating region. Its innovative and professional approach will fit very well with our culture, and we look forward to welcoming and working with our new colleagues.”
The acquisition is part of an expansion programme by Viridor’s parent company Pennon Group, which is looking to extend its waste management and recycling activities.
RRS chief executive Patrick Macdonald said: “I am delighted [with the purchase]. Pennon Group is a great home for RRS. This is good news for employees, customers, suppliers and all other stakeholders in the business.”