THE family-owned recycling and waste management company Powerday Plc has announced the acquisition of IOD Skip Hire Limited (IOD) - a move that will further strengthen its London presence.
Located in Canning Town, East London, the IOD site will become Powerday’s sixth facility in the Capital, joining its two Materials Recycling Facilities in Willesden and Enfield, and transfer stations in Brixton, Heathrow and Wimbledon.
The sites offer a combined capacity to process over 3.5 million tonnes of waste, increasing Powerday’s client service capabilities across London and the home counties.
Established over 26 years ago, IOD has grown to become one of the best-known waste management businesses in East London.
As part of the deal, Powerday will inherit IOD’s skip hire and affiliated businesses comprising metal and commercial site clearance, together with its Canning Town facility, which is licenced to operate 24 hours a day, 365 days a year.
The move marks Powerday’s third acquisition in 12 months, having acquired sites in Wimbledon and Heathrow in May and June respectively.
Liam Kearney, Joint Managing Director at Powerday, said of their latest acquisition: “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.”
He added: “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.”
Initially, Powerday will retain the widely-recognised IOD branding at the Canning Town site and on IOD’s vehicles and containers, the firm has confirmed.
Edward Crossan, CEO, Powerday added: “I would like to personally thank the senior management team for all of their efforts on finalising this acquisition, with a special mention to our Joint Managing Directors, Liam Kearney and Jim Craig.
“This will further enhance our position as London’s leading waste management company, and reiterates our desire to providing our customers a complete, single waste management solution across London.”