Global metals recycler, EMR has confirmed that it is acquiring the London-based company, Metal & Waste Recycling.
A spokesperson for EMR said: “We can confirm that EMR purchased the Metal and Waste Recycling (MWR) business on Friday, August 25th. The two companies have many similar cultural values so we believe that the acquisition process will go very smoothly. We are maintaining a “business as usual” approach during the transition to minimise any impact for our employees and customers.”
Metal & Waste specialises in the recycling of ferrous and non-ferrous metals, with depots in the South East, Midlands and the North East.
According to its website, Metal & Waste is the fourth largest metal recycler in the UK, with over 240 employees and 12 operating sites across the UK, purchasing over 800,000 tonnes of metals a year.
Metal & Waste export metals by ship to Europe and are “one of the few UK companies able to offer bulk export tonnage of high quality metals in containers”.
EMR (European Metal Recycling), which has its UK headquarters in Warrington, employs around 4,000 people and operates at 150 locations around the world, including the USA, India and Hong Kong.
Metal & Waste stemmed from a business founded by Albert Widdowson in 1964. He bought GD Metals that year and his son, Gary, joined the business in 1976. A series of industry acquisitions followed and in 2007 the business was sold by the family to Barclays Private Equity. For Metal & Waste, in 2014 a new 5 year £32.9 million ABL banking facility was opened with Bank of America and Merrill Lynch.
Total Waste Management, which was once part of the Metals and Waste business grouping, remains with the Widdowson family.