First acquisition for Enva Group, formerly DCC Environmental
Enva Group, which provides waste management and waste materials solutions in Ireland and the UK, has acquired Blue Sky Plastic Recycling (BSP) for an undisclosed sum.
Based in Lincolnshire, England, BSP specialises in recycling plastics from waste electrical and electronic equipment and other waste plastic materials.
Recovered plastics are formulated and refined to substitute virgin plastic material in manufacturing processes. BSP deploys state-of-the-art waste separation technologies to sort waste plastics from other materials, and converts the waste plastics into a range of high-quality regrinds and compounds.
The newly acquired company will form the fifth operating unit within Enva, and will continue to be led by existing managing director and principal shareholder Chris Riddle.
Commenting on the acquisition, Tom Walsh, chief executive of Enva Group, said that Enva was "delighted" to be investing in BSP.
"The acquisition of BSP extends our existing suite of material recovery solutions. We are excited about the opportunity to support and accelerate the further development of BSP as it leverages its expertise across an ever-wider range of waste plastic materials," Mr Walsh said.
Meanwhile Mr Riddle referred to it as "a very exciting time" for the business, its customers and its staff.
"Becoming part of Enva Group is a mark of what we have been able to achieve thus far. The acquisition gives us the platform to continue to build upon that success," Mr Riddle said.
Enva, through its operating brands William Tracey, Wastecycle, Enva Ireland and Oakwood Recycling, employs over 1,100 people in recovering a broad range of hazardous and non-hazardous waste materials for re-use in manufacturing and for energy conversion.
The company is majority owned by Exponent Private Equity, with chairman Niall Wall and the management team owning a significant stake.
Enva was acquired from DCC in a transaction worth in excess of £200m (€225m) in June 2017.