Outsourced resource management and environmental services provider, Reconomy, has acquired Waste Source Ltd, further strengthening its UK commercial waste division.
Based in Bristol, Waste Source is an independent waste broker providing waste collection, recycling and disposal solutions to businesses primarily in commercial sectors such as retail and hospitality. Key customers include Oakfurnitureland, Extra, Giggling Squid and Turtle Bay.
This is Reconomy’s second completed acquisition in the final quarter of 2020 following its first foray into the international market with the recent deal to buy German-based packaging compliance provider, Noventiz.
Commenting on the acquisition, Reconomy’s CEO, Paul Cox, said: “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. In recent years we have put a lot of focus on the development of our business and industry sector. 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.”
Chris Holland, Managing Director at Waste Source, added: “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.”