Outsourced waste services company Reconomy has continued its acquisition spree by snapping up commodity trading and reprocessing business Eurokey.
Based in Leicester and founded in 1995, Eurokey helps clients meet their need for supply of recycled materials.
With the addition of Eurokey, Reconomy’s annual turnover is now in excess of £550 million.
Reconomy chief executive Paul Cox said: “We’re thrilled to announce the acquisition of Eurokey and welcome its team into the Reconomy family.
“The business has a great track record of success and brings considerable expertise and additional capabilities into the group. We will now be able to support even more of the requirements of our core UK customers and also scale up as part of our ambitious international expansion plans.
“I’m sure that with our shared focus on providing great customer service and delivering operational excellence through technology, Reconomy and Eurokey are going to make a big impact on driving the circular economy.”
Eurokey managing director John Dhillon added: “We’re delighted to become part of the Reconomy Group and this deal represents an exciting step in the development of Eurokey with a company that mirrors our own values.
“With exciting projects already planned for 2021/2022, which will revolutionise the industry, being part of the Reconomy Group allows us to drive these plans even further forward. We’re looking forward to delivering a joint vision and strategic approach, which comes with being part of a dynamic company who share the same goals for the circular economy.”
In recent years, Reconomy has bought Reverse Logistics Group, Waste Source, Noventiz, ACM Environmental, Nationwide Services Group, Advanced Waste Solutions, Prismm Environmental and Valpak.