CIRQLR agrees £40m NatWest facilities for acquisitions and growth. Business recycling group CIRQLR has secured £40 million of three-year debt facilities from NatWest Group to fund growth and further acquisitions. The iCON Infrastructure-backed company serves commercial and industrial customers across the East and South of England.
CIRQLR was created through a three-year buy-and-build programme backed by iCON Infrastructure and operates as a regional business recycling group serving the industrial and commercial sectors. The new facilities can be extended on the same terms with NatWest. CIRQLR says this will support further M&A and corporate development over the next year or two.
David Palmer-Jones, CEO of CIRQLR, said the facilities would 'support all our investment plans, provide us with the springboard to further develop our offerings for customers and keep us agile'. He added that the group is positioning to take advantage of an expanding market driven by new regulatory opportunities for the circular economy.
Packaging firm Pact Group has invested in Plan B Circular, the UK textile-to-textile polyester recycler behind Project Re:claim, its joint venture with the Salvation Army Trading Company (SATCoL). The deal aims to scale polyester recycling ahead of EU legislation expected in 2028.
Sixteen international partners led by Danish Technological Institute have launched InFACT, a project to turn household flexible plastic waste such as crisp packets, coffee bags and meat films into new packaging, including food packaging. Less than 15 per cent of this material is currently recycled.