Thursday 8th May 2008
Mercury shines following recycling deal
A company that provides lamp and battery recycling services has expanded its geographical coverage of the UK after buying one of its rivals. Mercury Recycling, which opened the UK’s first lamp recycling site 12 years ago, bought Envirolite Group for £1.1 million in cash.
On completion Mercury paid £850,000 with the balance due in the next three months.
The deal complements the acquirer's existing operations by adding sites to its business in the South, Midlands and Scotland. Envirolite will be managed from Mercury's existing headquarters in Manchester.
The acquired business, which provides its services both to consumers and industrial users, comprises Envirolite, Envirolite Midlands and Bakersfield Environmental Services. In the year to April, its unaudited management figures reported a £248,000 pre-tax profit from sales of more than £1 million.
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