Raising a Glass
Operating from its glass treatment plants in Knottingley, Doncaster, South Kirkby and Harlow, Reuse currently processes around 30 per cent of the UK market’s requirements.
The new financing agreement will enable Reuse Glass to upgrade two of its plants, in Knottingley and South Kirkby. The introduction of new hi-tech colour separating machinery will not only significantly improve efficiency, but will also increase the UK’s overall production capacity for glass recycling.
Led by Hamish Morrison and assistant director Matt Scott, BHP Corporate Finance introduced Reuse to selected funders and advised the company throughout the fundraising.
Mark Wilson, CEO of Reuse Glass UK Ltd, said “We are delighted to have Santander as our banking partner. Together with the assistance received from the BHP Corporate Finance team, we have achieved a funding structure that will enable the business to achieve its goals of business growth, brand development and enhanced customer service.”
Hamish Morrison commented “Changing legislative requirements and attitudes towards recycling have created a market with increased growth prospects. The Reuse management team continue to be proactive in looking to capitalise on these opportunities. The planned investment will enable Reuse to consolidate its position as the UK’s leading operator in the glass recycling industry.”
Whilst the fundraising environment remains challenging this deal once again proves that there is an appetite to fund high quality opportunities that are professionally presented to the appropriate funders.