MSIF backs environmental specialist Indigo in strategic acquisition
Widnes-based firm, which specialises in closed-loop and innovative recycling services for industries including manufacturing and local authority sectors, has acquired Three Counties Reclamation
Liverpool city region environmental services business Indigo Environmental Group has secured a six-figure investment to assist an acquisition that will facilitate its nationwide expansion.
The Widnes-based firm, which specialises in closed-loop and innovative recycling services for industries including manufacturing and local authority sectors, is being backed in the deal by Liverpool loan and equity funder MSIF.
It has completed the purchase of Three Counties Reclamation (3cr) and its plastic granulation plant which will allow it to not only help diversify its service options, but to further expand its service nationally to help satisfy increased demand.
Launched as a new business in 2017, Indigo has shown impressive growth to date, driven by a team with more than 20 years’ of experience in the sustainable recycling sector.
Leading the Indigo team is managing director, Paul Kinley, who brings a wealth of experience to the role as the former managing director of Avanti Environmental Group.
Due to his long-standing relationship with MSIF and Langtons Accountants, he was able to take the next step for Indigo’s expansion and work with both parties to help secure funding for the acquisition of the 3cr and its plastic granulation plant.
Indigo Group plans to maximise the acquisition by launching a Polymer specific business, sourcing materials from smaller recyclers who don’t have the access to markets to sell on smaller volumes.
Paul Kinley said: “Both the team at 3cr and Indigo are excited about the opportunities that the acquisition presents the wider Indigo Environmental Group. It was great to work with MSIF again to help achieve this goal and further expand the company.
“We will continue with the on-going support from the senior team at 3cr. All of the staff are staying on with the business moving forward and we now have a stronger workforce to further drive the business growth.”
Jim Moore of MSIF added: “Indigo has displayed impressive traction and development throughout 2018, their management team are held in high regard and I am eager to see their continued progress in 2019.”