Reconomy acquires waste management specialist Network Waste
Reconomy, the UK’s leading provider of outsourced waste management services, has confirmed the acquisition of Just Hire UK Limited, trading as Network Waste. International M&A specialist BCMS acted as lead advisor to the shareholders of Just Hire UK Limited.
Network Waste is an innovative provider of outsourced waste management services, with a pioneering online waste management tool. Its customers include major national companies with multiple sites across the UK.
Paul Cox, Managing Director of Reconomy comments: “We are delighted with the acquisition of Network Waste – it’s an excellent business, and like Reconomy it has a strong team that is performing well. It has been very successful in recent years with an excellent customer base which complements that of Reconomy.
“The acquisition of Network Waste further underlines Reconomy’s position as a clear leader in its field and we are looking forward to working together to develop the combined business.”
Chris Dear, Managing Director of Network Waste, comments: “BCMS' significant experience and contacts have brought numerous opportunities to us. However, it was important that we found the right partner for the business’ customers, staff and suppliers.
“It was Reconomy’s commitment to excellence that led us to agree to the sale of the business. We feel completely satisfied that the Network Waste customers, staff and suppliers will benefit under the new ownership.”
BCMS’ Mike O’Connor adds: “With increasing emphasis on regulation, compliance and maximised recycling rates, waste management is a strong and growing sector. Network Waste demonstrates strong profitability and a dynamic business model, and understandably there was significant interest in the company from parties across the industry. In Reconomy, the business has found a perfect partner.”
The move to acquire Network Waste builds on Reconomy’s impressive growth. The acquisition is the second for Reconomy this year, following the purchase of Countrywide Waste Management Ltd in January 2015.