Greenstar acquires 75% of Waste Exchange Services Ltd
Greenstar is pleased to announce the acquisition of 75% of North East based, plastics recycling company Waste Exchange Services Ltd ("WES").
Ian Wakelin, Managing Director of Greenstar explains “the investment in WES is a significant step in the development of the Greenstar business. WES is a well established recycling business and has been operating successfully in the UK for the past ten years focusing primarily on the recycling of plastics.”
"Over the coming months Greenstar will further develop and invest in the existing infrastructure at WES’s Wilton site. This will result in WES becoming a major provider of plastic recycling services to both the consumer and industrial markets. "
Under the terms of the acquisition James Donaldson, the Founder and Managing Director of WES, will retain a significant investment in the business and continue in his role as Managing Director.
Mr Donaldson comments: "the investment of Greenstar in WES will accelerate the next stage in the development of our business. There is a strong strategic fit between Greenstar and WES and we look forward to exploiting the opportunities available to us. "