Close the Loop Group acquires USA recycling company In-Plas Recycling (In-Plas). In-Plas is a well-established, profitable recycler and processor of post-industrial scrap, pellets, regrind and by-products. The acquisition strengthens Close The Loop Group’s position in the recycling market and due to the complementary parts of the market that both companies operate, the acquisition increases the product offerings of Close The Loop into recycled plastics processing and the automotive sector and equally, Close the Loop expands the processing capability of certain In-Plas Recycling products, creating more markets for the current In-Plas product suite.
Close the Loop Chief Executive Officer Joe Foster said: “We are pleased to be entering additional markets via the acquisition. The acquisition significantly expands our recycling scope and capabilities in North America as well as our presence on the plastics commodities market.
“In-Plas Recycling not only gives us ownership of a US-based recycler and processer but provides strong sales growth, profitability and delivers a diverse suite of well-established and loyal clients.
“The synergies between In-Plas Recycling and Close the Loop provide for considerable opportunities for growth. Both companies’ complementary services mean we are able to combine innovative solutions to turn waste polymer-based materials into valuable new products for more sectors.”