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The Corporate Finance team have capped a busy year supporting the Shareholders of Casepak on their sale. Working with colleagues in the CP Transaction Tax team, Casepak were advised through the process of their acquisition by the Reconomy Group.
- Leicester-based Casepak has been acquired by the Reconomy Group to support its long-term growth ambitions
- Casepak employs 83 people across two state-of-the-art recycling facilities
- The acquisition enhances the Reconomy Group’s waste processing capabilities and reinforces their commitment to UK sorting and recycling infrastructure
Reconomy, the leading provider of outsourced services to the circular economy, has acquired Casepak, the Leicester-based recycling company, along with Casepak’s sister company, Oceala.
Casepak was founded in 1973 by George Smith, and has grown into one of the UK’s leading recycling and waste management companies. Casepak operates two state-of-the-art facilities in Leicester – a collection and processing facility that provides specialist sortation services and a materials recycling facility (MRF) that sorts mixed recyclables, producing TEEP compliant outputs.
Casepak works with a range of commercial customers as well as partnering with Local Authorities throughout the UK to increase recycling rates, while Oceala specialises in providing waste management services to high profile retailers across the country.
This is the Reconomy Group’s fourth acquisition of 2021 and alongside a robust organic performance sees overall annual turnover run-rate exceed £800m.
Mark Smith, Joint Managing Director of Casepak said: “We are extremely proud to have grown Casepak into such a successful company while remaining family-owned and operated. However, to continue to grow and take advantage of future opportunities the time is right to change the ownership structure and we are very excited to join up with the Reconomy Group. It will remain very much business as usual for our staff and customers, while providing further scope for increased innovation and development.”
Paul Cox, CEO of the Reconomy Group added: “We’re delighted to bring Casepak into the Reconomy family and wish a warm welcome to all of our new colleagues. Casepak is an innovative company, with a commitment to high quality and great customer service. We see great potential for the future as the Reconomy Group continues to build its portfolio of services and deliver a circular economy vision, helping our commercial customers work towards a sustainable future.”
The addition of Casepak will further enhance the Reconomy Group’s existing processing capabilities and reinforces the company’s commitment to UK infrastructure for recycling. Earlier this year, the Reconomy Group acquired Eurokey and in September announced a £15m investment in a new sorting facility in Kettering for supermarket films and flexible plastics, coming online in 2022.
The Cooper Parry Corporate Finance team was led by Ben Rookes, Tom Summers and Jack Browne. Cooper Parry also provided Transaction Tax support on the deal led by Steve Round while Knights plc provided legal support on the deal.
Tom Summers, Director at Cooper Parry Corporate Finance, said: “Casepak is a fantastic local business which, by combining with Reconomy, will continue to drive investment and efficiency into the circular economy. We are proud to have supported a brilliant Shareholder group through this transaction and wish them and the business every success going forward”