British reprocessing firm, Bright Green Plastics, has been acquired by IPL Global from AIAC.
The acquisition will allow the global manufacturer of sustainable packaging solutions for environmental, returnable packaging and industrial markets to offer a full recycling service for its products.
Bright Green Plastics’ West Yorkshire-based reprocessing site, which currently recycles around 40,000 tonnes of plastic waste each year with a 130-strong workforce, will continue to operate under the existing management team.
IPL plans to invest in equipment and innovative projects to increase the recycling capacity and capabilities of the business, which will ensure the continued supply of high-quality recycled compounds to customers across many sectors.
Ian Farquhar, UK managing director at IPL Global, said: “We are delighted to have Bright Green Plastics as part of our network of businesses. Our shared values, coupled with impressive breakthroughs in the development of recycled polymer formulas for a wide variety of applications, meaning that together we can offer sustainable solutions the market is looking for.
“It’s this passion and commitment to innovation that first attracted us to the company, and we’re excited to see the value that Bright Green Plastics is set to bring to our business as we, in turn, contribute to its ongoing growth and success in the worldwide marketplace.”
Steve Spencer, general manager at Bright Green Plastics, said: “Anyone that comes across our business knows we are passionate about plastic recycling.
“This acquisition will provide the global assistance to accelerate significant technical developments, ensuring as much recycled plastic as possible is ploughed back into the manufacturing cycle, whilst lessening reliance on virgin plastic.”
The acquisition was completed on December 8, 2021. Steve Spencer, who joined Bright Green Plastics in 2019, will continue to control and oversee all business operations.