London-based waste management company Powerday has announced the acquisition of IOD Skip Hire Limited (IOD) for an undisclosed sum.
Located in Canning Town, East London, the IOD site will become Powerday’s sixth facility in the capital, joining its two Materials Recycling Facilities (MRF) in Willesden and Enfield, and transfer stations in Brixton, Heathrow and Wimbledon.
As part of the deal, Powerday will inherit IOD’s skip hire and affiliated businesses comprising metal and commercial site clearance, together with the Canning Town waste transfer station.
This is Powerday’s third acquisition in 12 months having acquired sites in Wimbledon and Heathrow in May and June 2020 respectively.
Powerday said that the acquisition “strengthens its presence in London” with a capacity to process over 3.5 million tonnes of waste at all sites in total.
Initially, Powerday will retain the IOD branding at the Canning Town site and on IOD’s vehicles and containers.
Liam Kearney, joint managing director at Powerday commented: “IOD has built an excellent business over the past two and a half decades and has been delivering a professional and cost-effective service to a strong client base across the east of London. For Powerday, this is a strategic acquisition which further extends our reach and enables us to provide an even more efficient waste management and recycling service to even more businesses in the capital and beyond.
“We now have the capability to provide a local, cost effective waste collection service to all of London, reducing waste miles and minimising transport emissions, as well as providing additional convenient tipping for other waste carriers. We look forward to working with the IOD team and their clients (many of whom are already existing Powerday clients) and to continuing to help as many businesses as possible to manage their resources sustainably.”
Source: letsrecycle.com Waste Managment