Closed Loop Partners, a New York-based investment firm focused on building the circular economy, announced the acquisition of a stake in Balcones Resources through its private equity fund, the Closed Loop Leadership Fund.
Balcones Resources is an environmental services company that has been in business for 25 years, handling commercial and residential recycling, among other services, in Texas and Arkansas. Kerry Getter, chairman and CEO of Balcones, will continue to lead the company.
"The expertise that Closed Loop Partners brings to the new relationship will provide unprecedented opportunities for corporate management and shareholder growth," said Getter in a statement. "Balcones and Closed Loop Partners’ cultures are similarly aligned. Together, we will be able to enhance employee opportunities, services to our customers and assist in achieving a diverse set of ambitious environmental goals."
The partnership builds on Closed Loop Partners’ network of strategic stakeholders across the recycling and manufacturing value chain, from supplier relationships with corporate partners, to recycling facilities, to manufacturers across the United States. By better connecting and integrating the system, costs and volatility in the market are reduced.
"We’re investing across the supply chain with a long-term view of a more profitable and sustainable future," said Ron Gonen, CEO of Closed Loop Partners, in a statement. "By scaling best-in-class businesses like Balcones, we will strengthen recycling and circular economy infrastructure in the U.S."