Plastics recycler gains growth finance

2K Manufacturing, a private equity-backed specialist in plastics recycling, has received funding of £3 million to invest in expansion.

The asset-based lending (ABL) facility consists of invoice, plant and machinery financing and was provided by KBC Business Capital, the ABL division of the Belgian banking group.

Backed by cleantech-focused investor Foresight Group, 2K Manufacturing will use the extra financing to invest in fixed assets.

The company, which produces industrial products from recycled plastics using a process called powder impression moulding, was advised by Field Fisher Waterhouse in the transaction. KBC received legal advice from Mills & Reeve.

Nick Britton

Lexus Ernser

Nick was the Managing Editor for when it was owned by Vitesse Media, before moving on to become Head of Investment Group and Editor at What Investment and thence to Head of Intermediary...

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