Waste management group CSG has acquired an oil recycling company – its sixth takeover in three years.
The Fareham-based business, which now operates out of 25 sites and has a workforce of 460, says the purchase of Recyc-Oil, based in Middlesbrough, reflects CSG’s ambition to boost its position in the oil recovery sector.
Recyc-Oil, which has been operating since 1980, processes around eight million litres of oily liquid waste a year, mainly from the marine sector, generating one and a half million litres of recovered fuel oil (RFO).
Among the assets taken over is the waste barge Erimus Star (pictured), which collects wastes including bilge water and engine sludges from vessels on the river Tees.
Recyc-Oil’s site manager, Helen Sykes, remains with the business, as well as all other Recyc-Oil employees, which will now operate as CSG Recyc-Oil.
CSG Recyc-Oil complements the group’s oil recovery facility at Middlesbrough which has recently undergone a £1m upgrade. The company has the capacity to recover some five million litres of oil each year which can be converted into RFO for industrial use.
Managing director Neil Richards said Recyc-Oil would strengthen CSG’s growing operations in the north-east.
“It will also be a boost in our ambition significantly to grow our share in the oil recovery market, which is now a key sector for us and is growing rapidly year on year as we focus on expansion,” he said.
Richards said this was its six acquisition in three years and more were under ”active consideration”.
Other parts of the group include Lanstar, J&G Environmental, Saxon Recycling, Lloyds Environmental, Sealand and Oil Monster.