Recycling Lives has secured investment to further develop its fast-growing and unique operations.
It has partnered with Three Hills Capital Partners (THCP) an innovative investment house, to support its future growth as part of a five-year plan.
The move supports the ongoing national expansion of the Preston-headquartered recycling and waste management business, as well as future opportunities for international growth, while maintaining its commitment to creating social impact from every contract.
Recycling Lives’ founder Steve Jackson OBE DL, said: “This represents a key milestone for Recycling Lives, giving us the firepower to further accelerate our growth both commercially and socially.
“I am delighted with the partner we have found in THCP, particularly their shared ethos and support for the social values that are deep-rooted in Recycling Lives. This is a unique partnership, as private equity investors see the value of social returns as well as financial returns.”
Mauro Moretti, Managing Partner at THCP, added: “We are very excited to invest in Recycling Lives and believe there are significant opportunities to build on the successes of the company. We have been highly impressed by Recycling Lives and are fully supportive of its social value and environmental ethos.”
Recycling Lives has enjoyed significant growth in recent years. It opened seven new sites across the UK in 2017 and 2018, alongside four established facilities in its home county Lancashire, and enjoyed year-on-year sales growth of 85%.
This has been fuelled by both its fully-integrated business model – offering total waste management and recycling solutions to process scrap metals, scrap cars and waste for major blue-chip clients – and its unique approach to creating social impact.
Its social enterprise and charity are reducing reoffending through offender rehabilitation, reducing welfare dependency by supporting the homeless, and supporting small charities through food redistribution; delivering social value worth millions each year by creating savings for the taxpayer.
Will Fletcher, CEO of Recycling Lives, said: “I am excited to lead the business through its next stage of growth as we continue building strong relationships with our suppliers and customers, and delivering significant social value in the process. THCP’s investment will accelerate all opportunities.”