Outsourced waste management and recycling services specialist Reconomy has announced the acquisition of Prismm Ltd.
Reconomy, based in Telford, principally operates across four key sectors: commercial construction, house-building, infrastructure and business & industry. Prismm, founded in 2000 and based in Kent, provides consultancy, waste management and compliance services with a focus in the output from UK factories and commercial premises of materials often seen as “difficult to recycle”.
Rix & Kay acted for sellers, Prismm founder Adrian Jackson and his son, Mike Jackson, on the sale to Reconomy which was represented by Irwin Mitchell (Birmingham office). SRC Corporate Finance provided advisory services to the sellers.
Commenting on the acquisition, chief executive of Reconomy, Paul Cox, said: “We’re delighted to announce the acquisition of Prismm, a company that shares Reconomy’s focus on customer-centricity and working collaboratively to find innovative solutions to today’s waste management challenges”.
Mike Jackson, managing director at Prismm, said: “These are very exciting times for Prismm. We have managed to find a company with the same values as ours for innovation and excellence in service. Our team are extremely excited about taking Prismm to the next level now we are part of the Reconomy Group of Companies.”
Adrian Jackson, commented on the transaction: ‘Rix & Kay handled the sale of our business. The service of their whole team was superb and without their patience and expertise I am not sure that the deal would have gone through. I have absolutely no hesitation in recommending them wholeheartedly.”
Tim Sadka, who led the Rix & Kay team, said: “Adrian and Mike were a pleasure to work for and with. As they were well organised and direct, we put forward a multi-specialist team to tailor our support and to ensure the transaction proceeded to a successful conclusion. The input from Rupert Rawcliffe and the SRC CF team was invaluable in support of our mutual clients. We wish Adrian well as he explores new horizons and Mike all the best as he continues with the team at Prismm”.