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International circular economy specialist, Reconomy, has acquired Circle Waste, a digital-first, UK outsourced waste management provider.
Circle Waste’s core focus is on providing waste management services to SME customers in the UK, focusing on the construction industry and closely associated sectors, where its digital-first model is particularly attractive to small and mid-sized businesses.
From its headquarters in Kings Lynn, Circle Waste employs around 90 staff. In addition to its core divisions of waste management it also offers a range of digitally provided removal & disposal services.
Circle Waste’s strengths combined with Reconomy’s broad technology platform capabilities creates a scaling opportunity to build on its already strong market position in the UK SME market.
Reconomy continues to grow sustainably, increasing annual revenues by 24 per cent to £1.23 billion (FY 2023) as the business has expanded to operate across more than 80 countries, with more than 4,000 colleagues and over 10,000 customers.
Guy Wakeley, Chief Executive at Reconomy, stated: “We are delighted to welcome Circle Waste to Reconomy which will accelerate our growth in the SME market. We were impressed by Circle Waste’s strong customer relationships and by its digital marketing expertise.
“The Circle Waste leadership team, led by Chris Dear and Mark Garwood, will be committing to Reconomy and adding their expertise to drive forward this exciting new stage.”
Michael Benton, Managing Director of Reconomy’s Recycle loop, said: “Circle Waste enhances our waste management capabilities and creates a platform for Reconomy to grow further within the SME segment, especially in the construction market.
“As the market-leader in outsourced resource management in the UK, we have long been investing into our technology capabilities to optimise our operations and enhance the customer experience. Combining their strengths in digital marketing with Reconomy’s tech-enabled proposition, leaves us strongly positioned to continue to grow and pursue our purpose of enabling the circular economy.”
Chris Dear, Managing Director of Circle Waste added: “We are delighted to be joining Reconomy. It provides us with an outstanding opportunity to grow our customer base and combine the technology driven applications and innovation already established within Reconomy with our expertise. This, coupled with our joint desire to help businesses become more sustainable within a circular economy is an exciting journey to embark on together.”
This is Reconomy’s second acquisition of 2024 following its takeover of German-based metal recovery experts, Sudamin Rohstoff in February.
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