Funds managed by affiliates of Apollo have earmarked up to $300 million for a senior, secured loan backing Circulus Holdings, PBLLC, a producer of post-consumer resin (PCR) from recycled low-density polyethylene (LDPE)
Based in Houston, Circulus is a portfolio company of Ara Partners and an emerging leader in plastics recycling, utilizing proprietary technologies to transform olefin plastics into resins suitable for a variety of commercial and industrial applications. The company’s products look to support the circular economy with post-consumer resins suitable for applications such as plastic bags, shrink film, pouches, overwraps and many more consumer-facing applications. The capital will support Circulus’s ongoing development of recycling infrastructure.
Circulus currently has two plants producing PCR, with one additional facility coming online in the near term and two more in development.
“We are pleased to partner with Apollo to support Circulus’s c