Business

Reconomy Group acquires Eurokey Recycling

Waste management company Reconomy announced yesterday (22 March) that it has acquired plastic recycling company Eurokey Recycling Ltd for an undisclosed sum.

Reconomy buildingReconomy is one of the UK’s industry leaders in the provision of outsourced services to the waste management and environmental service sectors.

Eurokey Recycling Ltd delivers recycling and waste management facilities and provides recycling collections and recycling and waste management solutions to corporations and public sector bodies. Its range of services includes paper recycling, cardboard recycling, plastics and metal.

Reconomy has said the acquisition of Eurokey Recycling will add further capability in terms of the offers to its customer across the group and will help accelerate its ambition of becoming a global leader in the provision of services to a circular economy.

This latest acquisition follows a further three that Recomony completed in the final quarter of 2020.

A deal was made to takeover German-based packaging compliance provider Noventiz last October, which saw Reconomy’s first move into the international market. More recently, Reconomy added to its commercial waste division after acquiring Bristol-based Waste Source and Reverse Logistics Group in December.

With the addition of Eurokey Recycling Ltd, the Reconomy Group’s annualised turnover is expected to be in excess of £550 million.

“We’re thrilled to announce the acquisition of Eurokey and welcome their team into the Reconomy family,” commented Reconomy’s CEO Paul Cox.

“The business has a great track record of success and brings considerable expertise and additional capabilities into the group. We will now be able to support even more of the requirements of our core UK customers and also scale up as part of our ambitious international expansion plans.”

John Dhillon, Managing Director of Eurokey, added “We’re delighted to become part of the Reconomy Group. This deal represents an exciting step in the development of Eurokey with a company that mirrors our own values.

“We’re looking forward to delivering a joint vision and strategic approach, which comes with being part of a dynamic company who share the same goals for the circular economy”