Dive Brief:
- Via Consolidated Container Company, investment firm Bain Capital acquired Envision Plastics and Ecoplast Corporation for an undisclosed amount.
- Both Envision Plastics and Ecoplast Corporation are plastic recycling companies. Each will operate as a stand-alone business.
- Envision Plastics focuses on post-consumer recycled polyolefin resins while Ecoplast supplies custom and recycled resin to clients across the U.S.
Dive Insight:
The managing director of Bain Capital, Seth Meisel, said that the firm thinks that recycling and sustainability are “megatrends” in the economy and continued by saying that recycling is a sound investment and an important industry.
The trend is apparent in the announcements by other firms that are expanding operations and building plastics recycling facilities nationwide. In April, a partnership announced the construction of a new plastics recycling facility in Baltimore County, MD, while Padnos expects to open a plastics recycling facility in Fremont, IN.