Reconomy completes second deal in the United States
Telford's Reconomy has acquired a second US company in as many weeks as it looks to strengthen its north American ambitions.
The company has announced the acquisition of Vermilion Holdings, based in Sauk Rapids, Minnesota.
Established in 1976, Vermilion is the US market leader in the take-back of post-consumer products.
It manages the track and trace of materials from collection locations to approved sites for reuse, recycling or secure disposition using a proprietary technology platform and patented reverse logistics packaging and kiosk collection system.
Vermilion’s key brands include ASC, a manufacturer of equipment enabling the safe collection of a diverse range of items including post-consumer materials.
The ARXG brand provides customised design, production, product fulfilment, track and trace of materials and end disposition solutions, while its PPM division is a full-service marketing company.
The transaction follows Reconomy’s acquisition Connecticut-based Lincoln Waste Solutions announced last week.
And it further builds on Reconomy’s existing presence in North America through the Reverse Logistics Group (RLG).
Guy Wakeley, Chief Executive Officer of Reconomy, said: "This transaction is another important strategic milestone for Reconomy as we accelerate our growth plans in the US.
"It brings new customers, technology and specialist capabilities in the fast growing take-back solutions market to our existing Comply operations in North America.
"We welcome the Vermilion team to Reconomy and look forward to working closely with them to achieve our mission of enabling the circular economy.”
The acquisition will bring new customers and technology to Reconomy’s Comply Loop division, which already services over 15,000 global customers, including Fortune 500 brands, and adds specialist capabilities in the fast growing take-back solutions market.
Patrick Wiedemann, Divisional CEO, Comply at Reconomy, added: "Vermilion adds new expertise in the take-back solutions market which represents an exciting area of growth as we expand further across the US and North America.
"The scale of environmental compliance is accelerating internationally, creating complex challenges for brands, so we must continually add to our services to help businesses navigate this complex, changing landscape.”
Mike Pietrini, CEO of Vermilion, said: “We are excited to join Reconomy at a time when it is achieving rapid and sustainable, international growth. We bring specialist capabilities in the growing take-back solutions market which complement Reconomy’s wide-ranging customer proposition. There are many opportunities to collaborate successfully with Reconomy’s Comply Loop as, together, we lead the way in environmental compliance management, take-back, collection and circularity solutions for end of life materials.”
