A 130-YEAR-OLD Scottish family-owned recycling company has been acquired by a major end-of-life vehicle processor.
Glasgow-based recycler John R Adam and Sons has been acquired for an undisclosed sum by Preston-headquartered Recycling Lives in a move that takes the joint headcount to 550 and annual turnover to more than £300 million.
All 50 John R Adam and Sons Ltd staff, for which last filed accounts for 2020 showed turnover at £47.8m, although this not reflect recent growth, will transfer to the new company.
Founded in 2008, Recycling Lives said it plans to continue to expand.
The company is currently planning a "substantial investment" which will see new plant and equipment installed at the site to increase capacity and create additional jobs.
READ MORE: River Clyde plastic-hydrogen power plant approved
The existing management team under managing director Jake Adam will continue to run the operation.
Andrew Hodgson, executive chairman of Recycling Lives, said: "John R Adam and Sons Ltd is a fantastic family business that has a proud heritage stretching back over 130 years and is the perfect strategic fit for us as we look to complement our network of facilities and increase our capacity and capabilities.
“I’d particularly like to thank Jake and John Adam, as well as Peel Ports for their patience and support throughout the process.”
John R Adam and Sons Ltd, a recycler and exporter of ferrous and non-ferrous metals sited at King George V Dock, is capable of processing 600 metric tonnes of steel a day and can load vessels with up to 4,000 tonnes of recycled metal at its deep-water berth.
Mr Adam, now titled Recycling Lives managing director, said: “The parallels between our two companies makes this a great fit.
"When you look at what we do, the culture and the importance that community has to both businesses, it’s clear just how complementary our companies are.”
Why are you making commenting on The Herald only available to subscribers?
It should have been a safe space for informed debate, somewhere for readers to discuss issues around the biggest stories of the day, but all too often the below the line comments on most websites have become bogged down by off-topic discussions and abuse.
heraldscotland.com is tackling this problem by allowing only subscribers to comment.
We are doing this to improve the experience for our loyal readers and we believe it will reduce the ability of trolls and troublemakers, who occasionally find their way onto our site, to abuse our journalists and readers. We also hope it will help the comments section fulfil its promise as a part of Scotland's conversation with itself.
We are lucky at The Herald. We are read by an informed, educated readership who can add their knowledge and insights to our stories.
That is invaluable.
We are making the subscriber-only change to support our valued readers, who tell us they don't want the site cluttered up with irrelevant comments, untruths and abuse.
In the past, the journalist’s job was to collect and distribute information to the audience. Technology means that readers can shape a discussion. We look forward to hearing from you on heraldscotland.com
Comments & Moderation
Readers’ comments: You are personally liable for the content of any comments you upload to this website, so please act responsibly. We do not pre-moderate or monitor readers’ comments appearing on our websites, but we do post-moderate in response to complaints we receive or otherwise when a potential problem comes to our attention. You can make a complaint by using the ‘report this post’ link . We may then apply our discretion under the user terms to amend or delete comments.
Post moderation is undertaken full-time 9am-6pm on weekdays, and on a part-time basis outwith those hours.
Read the rules here