SEATTLE (Recycling Monster): UK-based waste handling and recycling services company Reconomy announced acquisition of Sauk Rapids, Minnesota-based product return bins and services firm, Vermilion Holdinmgs, Inc. This is the second U.S. acquisition by the company this month. Earlier, Recology had announced acquisition of Connecticut-based Lincoln Waste Solutions LLC.
The business units of Vermilion include American Security Cabinets (ASC), American RX Group (ARXG) and PPM division-a full-fledged marketing firm.
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Commenting on the acquisition, Guy Wakeley, CEO of Reconomy said that the transaction is another important strategic milestone for Reconomy, as it accelerates its growth plans in the U.S. It will bring new customers, technology and specialist capabilities to its existing North American operations, Wakeley added.
Milke Pietrini, CEO of Vermilion stated that the company is excited to join Reconomy at a time when it is achieving rapid and sustainable, international growth. The company foresees several opportunities to collaborate successfully with Reconomy’s Comply Loop, he added. It must be noted that the Reconomy Comply Loop division currently serves more than 15,000 customers across the globe.