Wed, 30 Jun 2021 | BUSINESS SALE
London-based waste management company Powerday has announced that it has acquired IOD Skip Hire Limited (IOD) for an undisclosed sum.
The firm has revealed that the IOD site, which is located in Canning Town in East London, will become its sixth facility in London alongside its two Materials Recycling Facilities (MRF) in Willesden and Enfield and its transfer stations in Brixton, Heathrow and Wimbledon.
Powerday will also acquire IOD's skip hire and affiliated business as part of the deal, which includes metal and commercial site clearance, alongside Canning Town waste transfer station.
The deal marks Powerday's third acquisition within 12 months, following its purchase of two new sites in Wimbledon and Heathrow in May and June 2020.
Commenting on the latest deal, Liam Kearney, joint managing director at Powerday stated that it was a "strategic acquisition" that would help to boost the company's reach across the Capital and allow it to provide a more efficient and wide-reaching waste management and recycling service across the region.
"IOD has built an excellent business over the past two and a half â¯decades and has been delivering a professional and cost-effective service to a strong client base across the east of London.
"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," he added. "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."
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