Recycling Lives, which claims to be the UK's largest processor of end-of-life vehicles, has completed its acquisition of John R. Adam and Sons in Glasgow.
The acquisition takes Recycling Lives’ vehicle dismantling and recycling business to more than £300 million turnover annually and increases its employee count to more than 550 staff
The number of locations that Recycling Lives operates across the UK increases to 23 following the takeover.
Andrew Hodgson, executive chairman of Recycling Lives, which signed a contract with Renault last year to become the first recycler to operate battery electric skip transporter trucks, said: “John R. Adam and Sons 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 is a recycler and exporter of ferrous and non-ferrous metals, situated in Glasgow’s King George V Dock.
Recycling Lives, which also exports car parts, said the company 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.
Three Hills Capital Partners, as a shareholder in Recycling Lives, provided additional support throughout the acquisition process.
Hodgson said: “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 said it is currently planning 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.
Adam added: “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.”
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