Two of the largest waste companies have announced plans to merge.
Hampshire-based Specialist Waste Recycling Limited (SWR) and Buckingham-based New Star Environmental (Newstar) will come together to create SWRNewstar.
The merger see the new company become one of the largest waste brokers in the UK, with an annual turnover in the region of £41 million.
Both companies founded the Waste Management Broker Association earlier in 2017.
Discussing the move, Newstar chairman Keith Brown said: “The joining of two of the largest brokers in the UK Waste market gives us unrivalled expertise in the property management, grocery, retail, leisure and automotive sectors of the market. This will allow the new organisation – SWRNewstar – to deliver further growth from these sectors.”
Andy Butler, CEO of SWR added: “We could see there was a huge amount of synergy between SWR and Newstar and, following the successful launch of the WMBA, we knew there would be a lot of portfolio gain from working together strategically. SWR and Newstar already have some impressive clients in the waste management space, and as a joint venture I am confident that we can only elevate this further.”
Both SWR and Newstar plan to stay at their current office locations.