Total Recycling Services (TRS), a Darlington, UK-based provider of recycling and waste management services for industrial and commercial customers, received a £6.7m growth capital investment.
Business Growth Fund made the investment acquiring a minority stake in the company.
The funds will be used to accelerate organic growth and to explore opportunities to further expand its operating facilities and equipment.
Launched six years ago and led by Managing Director, Alex Foreman, Total Recycling Services provides complete recycling and waste management services for industrial and commercial customers, including hazardous waste recovery, commercial recycling and industrial services. Operating from its two sites in Teesside, all services are carried out in-house.
The company, which generated turnover of more than £14m in 2014, has an asset base including its own permitted hazardous waste recovery facility operated under ISO accredited systems, a fleet of 26 owned specialist wagons, tankers and jetting units. It recently expanded its commercial recycling operations through the acquisition of Foreman Recycling.
In conjunction with the deal, BGF introduced Ross Smith, who has been appointed by TRS as Non-Executive Chairman. He will work with management in developing and executing their longer-term growth plans. Smith is currently Non-Executive Chairman of BGF-backed J&B Recycling, also based in Teesside.