Sims Metals has acquired a pair of Yorkshire-based metal recycling companies for an undisclosed fee.
Hull-based Morley Waste Traders say it handles in excess of 150,000 tonnes annually.
The acquisition means the Australian company, which also operates in the US and New Zealand, has a total of 50 metal recycling facilities across the UK.
Morley Waste Traders and the Lord and Midgley family-business, based in Leeds and Hull respectively, have now joined the Sims Metals group but will continue to operate under their current names for now.
Commenting on the acquisitions Alistair Field, group chief executive of Sims Metal Management, said the move fits strategically with how the company wants to move forward.
Strategy
He said: “The acquisition is consistent with our strategy of disciplined growth through complementary bolt-on acquisitions in our core markets. It will be a valuable addition to our Europe metals business”
Paul Wright, managing director of Europe Metals at Sims, continued: “Our acquisition of these businesses is an excellent example of how our UK growth strategy is taking shape. Morley’s large ferrous and non-ferrous processing facilities will extend our footprint into new markets, while offering local businesses competitive solutions to their metal recycling needs. We look forward to welcoming our new colleagues into the Sims UK team.”
Despite not disclosing the fee, the company did say the purchase price consideration “is not material to Sims Metal Management”.
West Midlands
Sims is no stranger to acquiring UK waste businesses and strengthening its presence is specific regions. In 2011 it announced the acquisition of one of its leading UK rivals Dunn Brothers, in a move that significantly increased its foothold in the West Midlands.
This came four years after buying west Midlands ferrous metal recycling merchant ER Coley, which was dissolved in 2014.
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Source: letsrecycle.com Metal
