UK waste management and recycling services company Red Industries has raised a 39 million ($48.9 million) funding package.
The financing, raised from investment company BGF and banking and financial services company HSBC, has initially supported the purchase of Environmental Resource Group (ERG).
The purchase of ERG widens Red Industries’ service offering and customer reach, adding more waste management facilities, a bigger client support team and fleet of bespoke vehicles.
ERG will benefit from Red Industries’ significant processing capability, market operations and highly experienced client service platform.