Thursday, 20th January, 2022
Cory acquires East London-based recycling and waste management company
Cory, one of the UK’s leading recycling and waste management companies, has today announced the acquisition of McGrath Group, an independent recycling and waste management company based in Barking, East London. McGrath Group’s facilities include a waste transfer station which currently receives more than 300,000 tonnes of recyclable and non-recyclable waste per annum, a wharf, and a materials recycling facility (MRF).
The acquisition comes as Cory progresses its Riverside 2 development, which will include an energy from waste (EfW) facility that will be adjacent to Cory’s existing EfW facility and will be one of the largest in the UK. Cory transports waste on the River Thames and McGrath Group’s waste transfer station and wharf will provide additional capability to move waste to the two EfW facilities.
McGrath Group’s MRF will expand Cory’s recycling portfolio, supplementing the MRF that Cory operates for Western Riverside Waste Authority in Wandsworth.
Dougie Sutherland, Cory’s Chief Executive, said: “This is a significant acquisition for Cory extending our use of the river to transport more recycling and waste from East London, Essex and the wider South East region, which significantly improves safety on our roads and reduces emissions in our communities. This acquisition gives us greater capacity not only to support our existing clients, but also to support our new clients at the EfW facility that we are developing.
“We’ve worked with McGrath for a number of years. It’s a long-established, family-run business that delivers outstanding customer service. They have great people who will be a key asset for the future of Cory’s business.”
David McGrath, who founded McGrath Group with his brothers Mick and Pat in 1972, said: “My family and I are proud to have developed McGrath into the business it is today. McGrath’s independence has played an important role in helping it to grow into a successful company. It goes without saying that the decision to sell the business was not taken lightly. Our longstanding partnership with Cory, our experience of how they operate, and the synergies between the two businesses were key to this decision. While this is obviously a hugely significant moment for my family, for the company itself it will be a case of ‘business as usual’.”
Cory has been operating on the River Thames since the company’s incorporation 125 years ago in 1896. The current fleet of tugs are responsible for transporting more than 1 million tonnes of recyclable and non-recyclable waste per year. Cory’s use of the river to transport waste is unique in the UK and saves 100,000 truck movements annually, helping to keep roads safer, cleaner, and less congested.