Reconomy continues business expansion
Reconomy has continued its recent expansion by completing the acquisition of compliance company Valpak and appointing a new Chief Information Officer to strengthen its management team.
This latest acquisition, completed in December 2018, is the third announced by Reconomy in 2018 after the purchases of waste brokerage business Waste Check and waste consultants Helistrat. Valpak will continue to operate as a separate business within the Reconomy Group, which is forecast to exceed revenues of £250 million for the 2018/19 financial year as it continues its strategy of combining acquisition with organic growth.
Commenting on the acquisition, Chief Executive of Reconomy, 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.
“The acquisition of Valpak is another important step in Reconomy’s journey, enabling us to further broaden our sustainability and waste management offering. In 2019, Reconomy celebrates its 25th year of being in business and this acquisition is the first step in what promises to be an exciting twelve months for the company.”
Steve Gough, Chief Executive of Valpak, added: “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.”
In addition to the latest acquisition, Reconomy has expanded its management team with the appointment of Jody Fullman as Chief Information Officer. Taking up the newly-created role in January, Fullman will assume overall responsibility for the IT strategy of the group as well as overseeing the integration of acquired businesses, such as Valpak.
Commenting on his appointment, Fullman said he was “delighted” to be joining Reconomy and was “looking forward to using my experience to help shape and deliver both Reconomy’s technology strategy and growth aspirations into the future”.
Cox added: “We are delighted to welcome Jody and further demonstrate our commitment to providing industry leading tech-enabled waste management services.”
You can find out more about Reconomy on the company’s website.