Waste management firm Reconomy has bought compliance scheme Valpak for an undisclosed sum.
Stratford upon Avon-based Valpak is the third business to be acquired by Reconomy this year. Valpak will continue to operate as a separate business.
Reconomy said that through acquisitions and organic business growth, its revenue for the end of the 2018-19 financial year is forecast to exceed £250m.
The company said the acquisition was well timed because the Government’s resources and waste strategy had placed a “far greater emphasis on businesses being able to deliver higher recycling targets”, including an increased focus on waste data and digital recording which Valpak specialises in.
Reconomy chief executive Paul Cox said: “Our vision is to bring about change to the waste industry by pioneering new technologies and methodologies that make the process of dealing with waste far easier. This goal is shared by everyone at Valpak, so the ethos of our two companies is already very closely aligned.”
Valpak chief executive Steve Gough said: “With the launch of the resource and waste strategy, the packaging and recycling industries are set for positive change.
“Valpak has seen significant growth and expansion during the past six years. As part of the Reconomy Group, I am confident we will be well positioned to address that change and better support our members’ needs.
”At the same time, we will benefit from being part of a larger group with a wide range of services, similar culture and shared objectives in excellence and pioneering the industry.”