Viridor acquires London Recycling plant

Archiv – United Kingdom | Waste management company Viridor has acquired fellow UK resource management company London Recycling for a cash consideration of £11 million (US$17.5 million). The acquisition is in line with Pennon Group’s (Viridor’s parent company) stated strategy of expanding its waste management activities, particularly in the areas of recycling, waste treatment and disposal.United Kingdom | Waste management company Viridor has acquired fellow UK resource management company London Recycling for a cash consideration of £11 million (US$17.5 million). The acquisition is in line with Pennon Group’s (Viridor’s parent company) stated strategy of expanding its waste management activities, particularly in the areas of recycling, waste treatment and disposal.
London Recycling Ltd is headquartered in London E16, near West Ham. The business comprises a full range of recycling operations, including a fleet of collection vehicles, a waste electrical and electronic equipment (WEEE) facility, paper processing, confidential destruction, a materials recycling facility (MRF) and a waste auditing facility. It handles approximately 50,000 tonnes of material per annum.
Viridor has complementary recycling, collection and disposal assets in the operating areas. The operations will be integrated into Viridor Waste’s south eastern region and will trade as Viridor. The acquisition is expected to be earnings enhancing before amortisation of intangibles in the first full year.
Commenting on the acquisition, Mike Hellings, Managing Director of Viridor Waste Management said, “The UK’s waste strategies demand ever-increasing levels of recycling. According to Viridor, London Recycling has an excellent track record over recent years in providing essential recycling services to businesses in the UK capital.