Reconomy expands with acquisitions and innovative waste technology
Many enterprises have expanded this year despite the challenges brought on by the pandemic. Waste management service provider Reconomy is a great example of how businesses can expand their services by leveraging strategic acquisitions and innovative technology.
H&S Dept states: “Reconomy expands UK SME proposition with acquisition of Bristol-based Waste Source and other recent international acquisitions.” Here is everything that you need to know about Reconomy’s recent expansion:
Reconomy started in 1996 and is one of the UK’s leading commercial waste service providers. They have partnerships with businesses throughout the UK in a large range of sectors and industries and work with companies of all sizes, ranging from startups to large enterprises.
Reconomy helps businesses solve waste challenges by creating smart waste solutions that are tailored to their clients’ needs and preferences. Their comprehensive range of waste services includes skip and wheelie bin hire, site clearances, office recycling, and hazardous waste removal.
Reconomy’s website states: “Technology is the heart of our business and the driving force behind our service.” The company is leveraging new technology like smartphone apps and customer analytics to streamline its waste services and enhance the customer journey by digitising the waste removal process. Technology has played a major role in Reconomy’s expansion over the past 25 years.
Water Source is an independent company that was founded in Bristol in 2010. It provides waste collection, recycling, and disposal services to businesses primarily in the commercial sector. Its key customers include Turtle Bay, Extra, and Oakfurnitureland.
Chris Holland, managing director of Water Source said that the acquisition is a “very exciting move for Waste Source and our ambitious, motivated team. We see many synergies with the Reconomy Group in terms of the focus on service, innovation, technology and sustainability.”
Water Source is a successful independent business in Britain with a solid customer base. Reconomy’s CEO Paul Cox said that the acquisition of Water Source will “help to strengthen their SME offering in the UK” and help them expand their customer base with a technology-based approach. It is hoped that Waste Source will bring more expertise into the group and help Reconomy Group expand its services in Britain.
In the last quarter of 2020, Reconomy completed its acquisition of Noventiz, a packaging compliance provider based in Germany that was founded in 2007. This put Reconomy in the international market and built global brand awareness. Reconomy continued its international expansion by signing an agreement with Reverse Logistics Group (RLG) based in Munich. This acquisition added new capabilities to the Reconomy Group and helped the company create a global presence.
In May 2021, Reconomy announced that it would be acquiring tech platform Rebound in its bid to fight the environmental impact of retail returns. Global returns have soared by more than 65% during the pandemic. Reconomy wants to use Rebound’s specialist returns software to develop a more sustainable and cost-effective returns process for retailers and customers in the UK.
Reconomy is on a mission to provide more sustainable solutions to the challenges of waste management by improving recycling and developing new waste technologies. Representatives from Reconomy have suggested that the company plans to expand further by leveraging innovative technology to scale and achieve sustainable growth.
In 2018, Reconomy launched The Reconomy Environmental Action Plan (REAP). REAP aims for the Reconomy Group to achieve net-zero carbon by 2028. To reach this ambitious target, Reconomy will have to significantly reduce its use of heat, fuel, and other sources of carbon emissions. Reconomy is also committed to helping its customers reduce their own emissions during this timeframe.
Reconomy hopes to achieve net-zero status through carbon reduction plans that focus on lowering emissions with the help of innovative technologies and sustainable waste solutions. Currently, Reconomy’s head office runs entirely on renewable energy and 96% of all managed waste is diverted away from landfills.
Many companies in the waste industry rely on traditional approaches, but Reconomy is breaking the mould with its use of innovative technology and software. Reconomy focuses on creating sustainable waste solutions and hopes to become a net-zero company by 2028.
Reconomy has seen significant expansion in the past few years thanks to its acquisitions of international companies including Noventiz, RLG, and Water Source in the UK. Sustainability is at the core of Reconomy’s business strategy and they are on a mission to create efficient waste solutions for their customers that are both eco-friendly and cost-effective.