Seddons GSC is pleased to have advised PET recycling specialist Enviroo on receiving a significant equity and debt investment from infrastructure asset manager Reichmuth Infrastructure, to finance the construction of a PET recycling plant in Ellesmere Port (UK).
The facility will be located at the Protos development site in Cheshire and will be designed to recycle 100% of the PET it takes, reusing a significant portion of the 4.9 million tonnes of plastic waste created in the UK annually and creating 50 jobs.
Enviroo provides solutions to post-consumer plastic waste by recycling Polyethylene Terephthalate (PET) plastic waste and creating ‘food-grade’ polymers that are used to recreate food packaging and plastic bottles. Reichmuth Infrastructure, part of the wider Reichmuth & Co Group, works with partners to develop high-growth, sustainable platforms and infrastructure projects in the realm of energy, transportation and circular economy in the mid-market segment in Europe.
Corporate Partner Ilan Kotkis and of Counsel Kyle Irvine advised Enviroo and its shareholders on all corporate and finance aspects of the deal.
Enviroo founder and CEO, Ahmed Detta, said, “We are looking forward to partnering with Reichmuth Infrastructure, who shares our vision for a truly circular, closed-loop solution to the UK’s plastic waste challenge. Together we will contribute to the country’s ambitious recycling targets, and we couldn’t have done it without the expert guidance and support we received from Ilan, Kyle and the rest of the Seddons team. They were essential in steering us through this significant transaction.”
Ilan Kotkis, Corporate Partner at Seddons GSC, added: “We are pleased to have advised Enviroo on such an impactful investment. We know this investment will enable them to continue their innovative and important work, and we look forward to watching the company’s continued success.”