Three Hills Capital Partners (“THCP”) is pleased to announce that on Wednesday 8th May RL entered into an agreement to acquire MWR.
RL will acquire all MWR sites and operations across the UK with the exception of two sites in Edmonton and Neasden which were carved out as part of the transaction parameter.
MWR is a national recycling business and like RL it recycles all ferrous and non-ferrous metals with a reputation for good service for its loyal customers. The acquisition will enable RL to further expand its geographical exposure across the Midlands and in the South of the UK as well as adding a well located second fragmentiser.
The acquisition comes following an intervention by the Competition & Markets Authority (“CMA”) when MWR was first acquired by European Metal Recycling Ltd (“EMR”) in 2017. This found that MWR’s acquisition by EMR represented a “substantial lessening of competition” and required MWR to be sold.
The transaction represents a significant step forward in RL’s business plan of growing from a regional to a national competitor in the UK market.