Tue, 28 Jan 2025 | BUSINESS SALE
Reconomy is aiming to accelerate growth in the US after making two waste management acquisitions stateside.
The £1 billion turnover waste management business, based in Telford, has bought Complete Solutions & Sourcing, a New York-based waste and recycling services manager for grocery store-anchored shopping centres, multi-family residential units and retail segments.
It has also purchased Massachusetts-based Waste Focus, a full-service waste management provider with hundreds of customers across the property management, hospitality and manufacturing sectors.
The acquisitions will help scale Reconomy's US business Lincoln Waste Solutions. Operations will be bolstered to 15,000 sites which can process more than one million tons per year of materials.
Reconomy wants to accelerate growth in the US by attracting larger customers, growing its haulier network and exploring further acquisitions.
The group now operates across more than 80 countries, with more than 4,000 employees servicing over 22,000 international customers.
Guy Wakeley, Chief Executive of Reconomy said: “We are delighted to acquire these high-quality, well-established brands that have strong waste management platforms in the US and valuable client bases across multiple sectors. They build on our acquisition of Lincoln Waste Solutions as we scale up our US waste management platform to establish a leading position and mark another major strategic milestone in our journey.”
Michael Williams, EVP Circular Solutions, North America, at Reconomy added: “After a transformational 2024 for Reconomy which saw our first two US acquisitions, we are delighted to build on this momentum by adding two further high-quality, complimentary brands to the Group. Having successfully scaled our platform across Europe, Reconomy is now embarking on the next phase of our growth strategy by rolling out our proven model and expertise across the US to scale our operations in the world’s largest and most attractive market.”
The circular economy market was valued at $556 billion in 2023 and is projected to reach $1.32 trillion by 2030.
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