Tennessee-based firm looks to grow its fiber business with all-cash purchase.
Spectra Recycling, a privately owned recycling firm based in Maryville, Tenn., has acquired SP Recycling’s Knoxville, Tenn., recycling facility. The transaction was completed July 1, 2013. The facility processes old newspapers, old corrugated containers, mixed paper and office grades of recovered fiber.
Steven Dixon, president of Spectra Recycling, says that with the acquisition of the SP Recycling facility the company now has three recycling facilities in Tennessee. In addition to the new Knoxville site the company also has two facilities in Maryville.
Dixon says after the purchase Spectra will shift all of its fiber processing to the Knoxville plant. The company will relocate a baler that it operates at its Maryville plant to the Knoxville location. Other equipment at the Knoxville site includes front loaders, roll-off trucks and box trucks. The facility also will continue to purchase material from the public and will provide containers and pick-up service.
He adds that the company’s Jackson Street facility in Maryville will handle a wide range of plastics, electronics and nonferrous scrap metal while the company’s Brookdale Road facility will handle fluids, batteries and other regulated materials.
Dixon says the company, which has been in business for 25 years, also is looking at additional acquisitions in the recycling sector.