Liverpool-based metal recycler S Norton & Co has bought Cheshire firm Axion Recycling.
S Norton acquired a 100% equity stake in Axion from the five private investors who had owned it since 2006.
Keith Freegard Axion
Axion marketing director Keith Freegard (pictured) has left the company but will work for it on key projects under a part-time consultancy agreement for the next 12 months.
Roger Morton will remain as director of Axion with an unchanged role.
Axion said its customers, suppliers and staff would see “no change” in the way business is carried out. The company will trade under the same name and all commercial arrangements will continue.
Norton chairman John Norton said: “We are pleased to announce this change in ownership of Axion Recycling because it clarifies and consolidates the working arrangements between S Norton and the Axion sites.
“We will continue to support the company policy and strategy for sales growth of all products, while at the same time increasing added value and profitability. We look forward to a successful future based on this strengthened relationship.”
Freegard said: “I am immensely proud of the sustainable business that the Axion team has created in the past 16 years, and to have grown a successful company in the resource recovery sector that delivers the circular economy [for] today, while most organisations are only just beginning to think about it.
“The team of people running the process plants and recycling operations are very competent and well-motivated, so much so that my full-time input is no longer needed.
“This change in ownership further strengthens the long-term sustainability of the ‘grave-to-cradle’ business model that S Norton and Axion can deliver for UK industry. I am sure that growth in product output and new business developments will continue at a similar pace.
“I am happy to maintain an active link with the team at Axion through my part-time consultancy role, and I also look forward to finding some new opportunities in the exciting waste resource recycling sector.”