Environcom employs 170 people and has licenced recycling facilities in Grantham (Lincolnshire) and Stourbridge (West Midlands). The two sites process 12,000 fridges a week as well as IT hardware & telecoms equipment, computer monitors & TV sets and small domestic appliances.
Environcom also has contracts with many leading high street retailers and producer compliance schemes across the UK, supporting handling of their electrical and electronic waste, and supplies leading UK charities with reuse products.
The announcement arrives on the back of Enva’s announcement yesterday that it’s Scottish fridge recycling plant in Perth will be operational next year, with the capacity to process every fridge in Scotland (see letsrecycle.com story).
With Environcom now in its portfolio, Enva owns a large chunk of the fridge processing capacity in the UK.
Environcom published revenues of £15.2 million in 2022 with a pre-tax profit of £1.29 million.
‘Compliments’
Enva’s director, Barry Phillips said: “The purchase of Environcom further complements our growth strategy in fridge, small domestic appliance and WEEE recycling and consolidates our market leading position in this area. Environcom is a well-run and critical operation in this space, and we look forward to adding further value to the business as a core component of our strategy to maximise the recovery of valuable resources from electronic waste’’.
Cris Stephenson, Environcom chief executive, added: ‘’Environcom’s management and shareholders believe this is an excellent outcome for all our employees and customers, providing real financial strength to the business, opening up opportunities for improved reuse, material recovery and access to many more outlets and markets.’’
Graeme Milne, director at REPIC, a key Environcom customer, noted: “REPIC welcome the acquisition by Enva, which will provide the business with the ability to invest in new innovative equipment whilst maintaining our excellent working relationship built up over many years.”
Subscribe for free