A 50% equal share in Materials Recycling & Consultancy (MR&C) has been sold by Recycling UK (RUK) to existing shareholder Rick Waterson who now owns the entire company.
RUK will no longer handle the administration, transport and payment support for MR&C and the latter will now be based in Bury rather than at RUK’s headquarters in Portal, near Chester.
However, both RUK and MR&C will work together on a 50/50 joint venture company called Papersort UK that will become the main company handling source supply contracts that both had worked on together.
RUK managing director Neil Clarke said: “After five years at Portal HQ, MR&C has relocated to its new Bury office and the sale of the shareholding allows both companies to progress in their own rights, but still work together through another 50/50 joint venture company called Papersort UK Limited, which will offer management and support of strategic source supply contracts.
“The partnership has brought new opportunities and expertise to both companies over the five years, and I look forward to working with Rick Waterson in developing future prospective contracts.”