Waste management services provider Reconomy has acquired Eurokey Recycling Ltd – a further step towards its ambition to become a global leader in services to the circular economy.
Reconomy said the purchase would add further capability in terms of its offer to clients, and continues its evolution as a group “and commitment to providing an unrivalled holistic solution to all the requirements of modern, sustainable businesses”.
Leicester-based Eurokey, founded in 1995, supplies commodity trading and reprocessing services to commercial customers in the UK and globally, helping clients to meet their demands for the supply of recycled material in manufacturing and production.
The addition of Eurokey puts the group’s annualised turnover at over £550 million, explained Reconomy’s CEO Paul Cox, adding that Eurokey “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.”
John Dhillon, managing director of Eurokey, said: “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”.