Statements from EMR and Recycling Lives regarding Metal & Waste
Following EMR’s acquisition of Metal & Waste Recycling Ltd (M&W) in August 2017, the Competition & Markets Authority (CMA) undertook an investigation into the effects of the acquisition on competition in the market which resulted in EMR agreeing to divest parts of the M&W business.
In compliance with the commitments it gave to the CMA, EMR has entered into an agreement to sell M&W to Recycling Lives Ltd, other than that part of the M&W business based in London, being the M&W sites at Edmonton and Neasden (the London Sites). The sale will complete on 30th May 2019. On closing, that part of the M&W business based at the London Sites will transfer to EMR.
We believe that M&W will continue to thrive under the ownership of Recycling Lives and provide a secure future for M&W’s employees. We thank the M&W employees for their patience and understanding through the divestment process and on closing we will be delighted to welcome to the EMR Group those M&W employees based at the London Sites.
Recycling Lives has entered into an agreement to acquire Metal & Waste Recycling Ltd.
Subject to the normal customary closing conditions, the acquisition is scheduled to complete on May 28. At this point, Recycling Lives Ltd will acquire all its sites and operations with the exception of two sites in Edmonton and Neasden.
Metal & Waste Recycling Ltd (M&W) is a national recycling business with sites nationwide. Like Recycling Lives it recycles all ferrous and non-ferrous metals with a reputation for good service for its loyal customers.
The acquisition comes following an intervention by the Competition & Markets Authority (CMA) when M&W was first acquired by European Metal Recycling Ltd (EMR) in 2017. This found that M&W’s acquisition by EMR represented a “substantial lessening of competition” and required the business was put up for sale.