Recycling Lives, the UK's largest processor of end-of-life vehicles, announced today it has completed its acquisition of Glasgow-based recycler John R. Adam and Sons Ltd for an undisclosed sum. Three Hills Capital Partners, as a shareholder in Recycling Lives, provided additional support throughout the acquisition process. Tuesday 12th July will be the first day of operations for the combined company. The move will see Recycling Lives' recycling business hit over £300 million turnover and take its employee count to over 550.
Andrew Hodgson, executive chairman of Recycling Lives, said: "John R. Adam and Sons Ltd is a fantastic family business that has a proud heritage stretching back over 130 years and is the perfect strategic fit for us as we look to complement our network of facilities and increase our capacity and capabilities."
"I'd particularly like to thank Jake and John Adam, as well as Peel Ports for their patience and support throughout the process."
John R. Adam and Sons Ltd is a recycler and exporter of ferrous and non-ferrous metals, situated in Glasgow's King George V Dock. It is capable of processing 600 metric tonnes of steel a day and can load vessels with up to 4,000 tonnes of recycled metal at its deep-water berth.
Recycling Lives is the UK's largest processor of end-of-life vehicles, and already has a base in Falkirk - and with the acquisition of John R. Adam and Sons Ltd, it will take the number of locations it operates across the UK to 23.
Andrew Hodgson added: "This acquisition fits into our longer-term plans of being a world leading circular economy business. This includes increasing high-grade quality recycled feedstock to produce more green steel through our world class processes, which dovetails with Scottish government policy.
"Our business is built on delivering environmental innovation and social value, while providing opportunities to increase skills and careers, and contributing to social development. We look forward to working with the Scottish prison system to help rehabilitate ex-offenders and make a positive difference to the community."
The company is currently planning a substantial investment which will see new plant and equipment installed at the site to increase capacity and create additional jobs. The existing management team under Managing Director Jake Adam will continue to run the operation but as part of the Recycling Lives Group.
Jake Adam, now Managing Director at Recycling Lives, said: "The parallels between our two companies makes this a great fit. When you look at what we do, the culture and the importance that community has to both businesses, it's clear just how complementary our companies are."
Founded in 2008 with social value at its core, Recycling Lives continues to expand and lead the charge in the next wave of circular economy businesses. The company has built a reputation in recent years for environmental innovation in recycling, most notably pioneering a ground-breaking process that diverts automotive shredder waste away from landfill, instead using it to create green energy to power its plants. This latest move further enhances its status in the sector and sends a clear message that it is continuing to grow.