Indigo Environmental Group has secured a six-figure investment from MSIF to assist with the acquisition of Three Counties Reclamation Limited.
The Widnes-based environmental services business specialises in closed-loop and innovative recycling solutions for varies industries including manufacturing and local authority sectors.
By using the latest shredding, granulating and washing technologies, Indigo has been able to offer impressive and cost effective services across large corporate multi-nationals, in-house brands and small to medium enterprises.
Launched as a new business in 2017, Indigo has shown impressive growth to date, driven by a team with over 20 years’ of experience in the sustainable recycling sector.
Leading the Indigo team is Managing Director, Paul Kinley, who brings a wealth of experience to the role as the former MD of Avanti Environmental Group. Due to Paul’s long-standing relationship with MSIF and Langtons Chartered Accountants, Paul was able to take the next step for Indigo’s expansion and work with both parties to help secure funding for the acquisition of the plastic granulation plant, Three Counties Reclamation Ltd.
With the assistance of MSIF funding, Indigo Environmental Group were able to complete the full purchase of Three Counties Reclamation [also known as 3cr]. The legal completion of this purchase was facilitated and led by national lawfirm, Weightmans.
The acquisition of the plant will now allow Indigo to not only help diversify their service options, but to further expand their service nationally to help satisfy increased demand.
Going forward, Indigo Group plans to maximise the acquisition by launching a Polymer specific business, sourcing materials from smaller recyclers who don’t have the access to markets to sell on smaller volumes.
Jim Moore of MSIF said “It has been a pleasure to work with Indigo Environmental and help them achieve the purchase of Three Counties. We took the time to understand their needs and tailored our solution accordingly. Indigo has displayed impressive traction and development throughout 2018, their management team are held in high regard and I am eager to see their continued progress in 2019.”
Paul Kinley, MD of Indigo Environmental Group said “Both the team at 3cr and Indigo are excited about the opportunities that the acquisition presents the wider Indigo Environmental Group. It was great to work with MSIF again to help achieve this goal and further expand the company. We will continue with the on-going support from the senior team at 3cr. All of the staff are staying on with the business moving forward and we now have a stronger workforce to further drive the business growth.”
MSIF provides funding from £500 to £2million to SMEs across the North West and North Wales.
Founded in 1994 to promote economic growth in the region by addressing the funding gap, MSIF has since invested and secured funds totalling over £500million in over 2,000 businesses. This funding has created and preserved in excess of 15,000 jobs and brought in more than £300million investment from the private sector on the back of its own investments.
Langtons is a leading independent firm of chartered accountants with a specialist corporate finance division. Their breadth of expertise and experience helps clients achieve their financial ambitions.
Weightmans is a top 45 law firm with over 1,300 people across offices in Liverpool, Manchester, Leeds, Birmingham, Glasgow, Leicester and London. Weightmans is dedicated to providing results for its clients and success for its people.