Reconomy Group acquires RENE AG
Reverse Logistics GmbH (RLG), a subsidiary of the Reconomy Group, will be taking over RENE AG, a German service company for compliance solutions in the field of recycling management and WEEE.
According to Reconomy, RENE AG will be primarily aligned to RLG due to their ‘complimentary services’, such as running WEEE and battery takeback systems and having networks of approved recyclers.
This move will expand the ‘overall geographical reach and capability’ of these services, the waste management group says. For example, RENE AG operates its takeback system for old electronic devices in Denmark, while RLG has established itself in multiple countries in and outside Europe.
The Denmark-based RENE AG specialises in environmental compliance and recycling management, and handles a variety of international compliance tasks from WEEE to batteries and packaging. It also currently manages a worldwide network of recycling companies across 56 countries.
The acquisition seeks to increase Reconomy’s overall ‘expertise in data management, reporting, consulting and payment services for B2B and B2C markets’, so that customers across various industries are able to access everything they need in one place.
Reconomy Group’s ‘Comply Division’ – offering services such as battery and electrical takeback and compliance to combat regulatory challenges – currently consists of Valpak (UK), Noventiz (Germany) and RLG (International with a HQ in Germany).
In the UK, Valpak helps businesses with environmental solutions, working towards the same aims as RENE AG in Reconomy’s Comply Division. It also offers services in waste management and recycling, carbon management, energy management, international compliance and data management.
Resource Group has also said that RENE AG is suited to its ‘tech-enabled, asset-light model’ and circular economy-focused services – which are currently maintained by Valpak.
Patrick Wiedemann, CEO of RLG and Divisional CEO for Comply at Reconomy Group, said: “This deal is the next step in positioning Reconomy Group even more broadly and expanding our global footprint. RENE is a great addition and culturally fits in perfectly with us due to the asset-light approach of the Group and our Comply Division brands.
"In addition to the WEEE system in Denmark, the international recycling network is particularly exciting for us, but the combination also offers significant potential all round in the other service areas, and an expanded range of services for the customers of both companies.”
Maximilian Scheppach, CEO of RENE, added: “With their high standards, Reconomy Group and RLG will be excellent partners for our customers, which will invest in our products and continue the traditional strength of RENE as a comprehensive provider with a high service orientation on a national and international level. International customers are also looking for efficient, unbureaucratic solutions for financing flows. To this end, RENE AG brings its many years of experience in reverse factoring to the cooperation.”
Reconomy Group CEO, Paul Cox, concluded: “The acquisition of RENE is part of our strategic roadmap to make Reconomy Group the leading global player for environmental compliance and sustainable solutions for the return of products and materials. We have enjoyed phenomenal recent growth in our Comply division, serving over 80 countries worldwide.
“We’re sure that the addition of RENE will strengthen our offering even further, helping us to work towards our purpose of creating a truly sustainable world by conserving finite resources. We warmly welcome all RENE colleagues into the Reconomy Group family”.