Clydesdale backs expansion of recycling business

Waste management specialist Reconomy Holdings has acquired Anglia Recycling in a deal backed by Clydesdale Bank.

The bank’s London office provided a debt package to support the acquisition as well as Reconomy’s expansion of two existing materials recovery facilities and the development of a new one.

Reconomy, based in London, was established in July 2006 by Englefield Capital LLP as the holding company to develop a business in the UK recycling-led waste management sector.

Anglia Recycling was founded in 1989, originally concentrating on collecting and recycling waste paper but gradually expanding into waste management. It now offers a range of innovative waste management solutions through the combination of its various recycling, collection and disposal services. The company has bases in Ely, Cambridgeshire; Grantham, Lincs; and Brandon, Suffolk.

Richard Nuttall, business partner with Clydesdale Bank in London, said: “Waste management is now a fast growing sector. Legislative changes and large increases in landfill tax are forcing businesses and local authorities in the UK to review the way in which we manage waste and look for more efficient solutions.”