The resource management outsourcing and environmental services provider Reconomy has continued to expand its business and industry sector coverage by acquiring Waste Source, a waste collection, recycling and disposal company Along with recent international acquisitions, this means Reconomy’s services will be available to a wider range of customers.
Waste Source
Formed in 2010 and based in Bristol, Waste Source is an independent company that mainly focuses on providing its services to the commercial sector. Its customers include Oakfurnitureland, Extra, Giggling Squid and Turtle Bay, reflecting Waste Source’s commitment to the retail and hospitality industries (Oakfurnitureland sells furniture whilst Giggling Squid and Turtle Bay are both restaurants). It collects and disposes of waste and recycling materials.
On the Bristol based acquisition, Waste Source’s managing director, Chris Holland, commented that “This is a very exciting move for Waste Source and our ambitious, motivated team. We see many synergies with the Reconomy Group in terms of the focus on service, innovation, technology and sustainability. Despite the adversity we have all faced this year, our team and customer base has grown, we have a fantastic platform to spring from in 2021 and I’m positive that Reconomy’s ambition and group resources will be a key contributor to help us deliver further success and continue to wow our customers.”
Reconomy
Reconomy is an outsourcing provider for resource management and environmental services. It focuses on providing greener and more sustainable solutions to the challenges of waste management. It does this by reducing waste and developing new technologies. The company has existed for 25 years, but recently has made an extra push to expand its capabilities and customer base, in part by seeking to acquire new businesses under the Reconomy name.
Sectors in which Reconomy has an interest include house building and construction, manufacturing, retail, hospitality and leisure, facilities management and transport and logistics.
Waste Source is Reconomy’s second major acquisition in 2020, with a successful takeover of Noventiz in October. Noventiz is a packaging compliance provider based in Germany. At a time when many businesses are struggling, this is meant to show what chief executive Paul Cox terms a “focus on the development of our business and industry sector.” and specifically how “Waste Source will bring even more expertise, capability and experience into the group as part of that strategy and we look forward to working with the team.”
Cox also linked the British expansion to Reconomy’s European ambitions, “Following our recent ground-breaking acquisition activity in Europe, we’re delighted to welcome Waste Source to the Reconomy Group – a move that helps strengthen our UK SME and trade waste proposition and allows an even broader profile of customers to benefit from Reconomy’s technology-enabled approach.”
It seems that the intention is to improve Reconomy’s SME offering in Britain by acquiring a successful independent business in the heart of Bristol with a strong client base. Representatives from both companies expressed a desire to expand further using more modern and innovative technology, which in turn could lead to more sustainable growth.
