Another waste management deal as Entrepreneurs Hub advises Circle Waste on its sale to Reconomy

Circle Waste, a digital-first, UK outsourced waste management provider has been acquired by leading international circular economy specialist Reconomy, in a deal advised by Entrepreneurs Hub.

Circle Waste’s core focus is on providing waste management services to SME customers in the UK, focusing on the construction industry and closely associated sectors, where its digital-first model is particularly attractive to small and mid-sized businesses. Circle Waste has highly sophisticated digital marketing expertise to attract new customers and ranks very strongly in online searches, leaving them perfectly positioned to capture changing buying habits for waste management services.

From its headquarters in Kings Lynn, Circle Waste employs around 90 staff. In addition to its core divisions of waste management it also offers a range of digitally provided removal & disposal services.

Circle Waste’s strengths combined with Reconomy’s broad technology platform capabilities creates a scaling opportunity to build on its already strong market position in the UK SME market.

Reconomy (backed by EMK Capital) continues to grow sustainably, increasing annual revenues by 24% to £1.23 billion (FY 2023) as the business has expanded to operate across more than 80 countries, with more than 4,000 colleagues and over 10,000 customers.

Chris Dear, Managing Director at Circle Waste, said:

“We are delighted to be joining Reconomy. It provides us with an outstanding opportunity to grow our customer base and combine the technology driven applications and innovation already established within Reconomy with our expertise. This, coupled with our joint desire to help businesses become more sustainable within a circular economy is an exciting journey to embark on together.

“The team at Entrepreneurs Hub have complemented the process fantastically. We have worked with Howard Dingley and Mike O’Connor on a previous transaction and have found their guidance and support invaluable. David Elliott who also assisted throughout the process comes with vast experience in M&A activity and was a welcome addition to the team.”

Mike O’Connor, Lead Advisor at Entrepreneurs Hub, said: “Having worked with Chris and Mark on a previous transaction I am delighted that they elected to once again place their trust in me and the team to help them find a new home for the Circle Waste business. I am confident that under Chris and Mark’s dynamic leadership, not only will the Circle Waste business accelerate rapidly but their involvement will impact positively on the wider Reconomy business moving forward.”

Guy Wakeley, Chief Executive at Reconomy, stated, “We are delighted to welcome Circle Waste to Reconomy which will accelerate our growth in the SME market. We were impressed by Circle Waste’s strong customer relationships and by its digital marketing expertise.

“The Circle Waste leadership team, led by Chris Dear and Mark Garwood, will be committing to Reconomy and adding their expertise to drive forward this exciting new stage.”

Michael Benton, Managing Director of Reconomy’s Recycle loop, added “Circle Waste enhances our waste management capabilities and creates a platform for Reconomy to grow further within the SME segment, especially in the construction market.

“As the market-leader in outsourced resource management in the UK, we have long been investing into our technology capabilities to optimise our operations and enhance the customer experience. Combining their strengths in digital marketing with Reconomy’s tech-enabled proposition, leaves us strongly positioned to continue to grow and pursue our purpose of enabling the circular economy.”