Johnston Carmichael advises John R. Adam and Sons Ltd in their recent sale
The Corporate Finance and Tax team of leading independent firm of chartered accountants and business advisers, Johnston Carmichael, has recently assisted Glasgow-based recycler John R. Adam and Sons Ltd in their sale to Recycling Lives, the UK’s largest processor of end-of-life vehicles.
John R. Adam and Sons Ltd is a family business with a proud heritage of over 130 years, and is a recycler and exporter of ferrous and non-ferrous metals, situated in Glasgow’s King George V Dock. It 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.
Recycling Lives is the UK’s largest processor of end-of-life vehicles, and already has a base in Falkirk. The acquisition of John R. Adam and Sons Ltd will take the number of locations it operates in across the UK to 23, take its employee count to over 550, and hit over £300 million turnover.
Jake Adam, now Managing Director at Recycling Lives, 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.”
Andrew Ewing, Corporate Finance Partner at Johnston Carmichael said:
“We have worked with John R Adam & Sons Limited over a number of years and are delighted to have been able to support them on their sale to Recycling Lives.”
