Recycling Lives confirms acquisition of recycler John R. Adam and Sons
Recycling Lives, a UK processor of end-of-life vehicles, announced that it has completed its acquisition of Glasgow-based recycler John R. Adam and Sons, for an undisclosed sum. The combined company began its operations yesterday (12 July).
John R. Adam and Sons Ltd is a recycler and exporter of ferrous and non-ferrous metals, based in Glasgow’s King George V Dock. It is capable of processing 600 metric tonnes of steel a day and can load vessels with up to 4,000 tonnes of recycled metal at its deep-water berth.
Recycling Lives also has a base in Falkirk, Scotland and says that the acquisition of John R. Adam and Sons Ltd, will take its number of operational locations in the UK to 23.
As a result of the purchase, Recycling Lives hopes to see its recycling business hit over ‘£30 million turnover’ and take its employee count to over 550.
The processor said that Three Hills Capital Partners, as one of its shareholders, provided additional support throughout the acquisition process.
Currently, the company is planning to invest in a new plant, as well as installing equipment at the site with the aim of increasing capacity and creating additional jobs.
The existing management team under Managing Director Jake Adam will continue to run the operation as part of the Recycling Lives Group, the business has said.
Andrew Hodgson, Executive Chairman of Recycling Lives, said: “John R. Adam and Sons Ltd is a fantastic family business that has a proud heritage stretching back over 130 years and is the perfect strategic fit for us as we look to complement our network of facilities and increase our capacity and capabilities.
“I’d particularly like to thank Jake and John Adam, as well as Peel Ports for their patience and support throughout the process.
“This acquisition fits into our longer-term plans of being a world leading circular economy business. This includes increasing high-grade quality recycled feedstock to produce more green steel through our world class processes, which dovetails with Scottish Government policy.
“Our business is built on delivering environmental innovation and social value, while providing opportunities to increase skills and careers, and contributing to social development. We look forward to working with the Scottish prison system to help rehabilitate ex-offenders and make a positive difference to the community.”
Jake Adam, Managing Director at Recycling Lives, said: “The parallels between our two companies makes this a great fit. When you look at what we do, the culture and the importance that community has to both businesses, it’s clear just how complementary our companies are.”