Business recycling group CIRQLR gears up for further expansion CIRQLR secures banking facility with flexibility for more draw down for growth
Business recycling group CIRQLR, backed by leading infrastructure fund iCON Infrastructure (“iCON”), is pleased to announce £40m of new secured debt facilities with Natwest Group for growth projects.
The three-year facilities ensure significant financing flexibility to enable CIRQLR to pursue its strategic objectives, capitalising on the growth opportunities across the industrial and commercial sectors for the collection and processing of recycling and waste materials.
CIRQLR, backed by iCON, has successfully undertaken a three-year buy and build journey to create one of the leading people-led business recycling organisations across the East and South of England, underpinned by a depth and breadth of local knowledge serving commercial and industrial customers.
Whilst undergoing a period of further integration and investment to modernise some of the group’s recycling infrastructure and harness greater synergies using cutting edge data analytics, CIRQLR continues to expand its operational reach within CIRQLR’s chosen geographies.
David Palmer-Jones, CEO of CIRQLR, said: “We are on track with our plans to deliver the leading customer-focused business recycling group. Exactly one year on from announcing ourselves to the wider world, these new facilities with NatWest support all our investment plans, provide us with the springboard to further develop our offerings for customers and keeps us agile allowing us the ability to participate in an expanding market driven by a raft of new regulatory growth opportunities we are actively working towards.
The £40m worth of facilities has sufficient flexibility for us to extend our borrowing capabilities on the same favourable terms with Natwest, allowing CIRQLR to capitalise on several merger and acquisition and corporate development opportunities we have in our sights over the next year or two.
With a robust balance sheet, strong cash-flow and secure revenue streams, this is a unique time for growth and development at CIRQLR. Government is making good on its commitments since coming to power two years ago and is now pulling all the regulatory levers it can to create a more circular economy over the years ahead.
Our regional operations have really come together under the CIRQLR umbrella supported by a strong central team which are putting into place the key foundations to allow us to accelerate growth whilst leveraging our highly experienced local management teams and their closeness to customers to grow rapidly.
At CIRQLR we are primed to deliver our mission to ‘give waste a second life’.”
Notes to editors:
CIRQLR, Communications Contact :James Rossiter, 07985 117887, james@jdrconsultants.co.uk
At CIRQLR we help all manner of organisations, large or small, achieve a shared mission to “give waste a second life.” We reduce waste, boost recycling rates and extract greater resource value from the materials our customers consume and dispose of. There is excellence in all we do. CIRQLR’s Journey
CIRQLR’s mission of giving waste a second life for all the 16,000 commercial and industrial customers we support is firmly on track.
As a group we are expanding our reach across the UK and deepen our processing capacity, meaning CIRQLR can now double the recycling materials it handles each year on behalf of customers regionally and nationally from the current 600,000 tonnes to over one million tonnes of materials.
CIRQLR today has 19 recycling facilities and is poised to invest in more infrastructure and over time double its current total of over 600 staff.
With Government pulling all the right regulatory levers to usher in a more circular economy, CIRQLR is primed to assist businesses across industry sectors who approach us every week for help in improving their sustainability goals.
Nine leading regional business recycling and waste management operators have joined CIRQLR in the three years since its formation, backed by iCON Infrastructure LLP (“iCON”), and further expansion continues, providing market-leading coverage to the whole of the UK from its strong base across the East, South and Midlands areas of England.
CIRQLR’s network of integrated subsidiaries by acquisition date:
SWS joined 26/9/25; Chambers Waste Management joined 31/3/25, Cox Group joined 01/07/23, KP Waste including Eco joined 31/10/24 Select joined 31/10/24, Ellgia including Bakers joined 19/04/24, Wilrose joined 01/04/24, Castle Environmental joined 24/02/23 CIRQLR’s Network
Better data management is at the heart of CIRQLR’s ongoing growth and integration as we continue to listen to customers and address their resource management needs as we progress into the next quartile of this century.
CIRQLR is focused on increasing recycling for business customers and helping the UK secure its materials supply chain. CIRQLR is supported by funds exclusively advised by iCON Infrastructure LLP. iCON is an award-winning, independent investment firm that makes long-term investments in high-quality infrastructure businesses across Europe and North America. iCON Infrastructure LLP is authorised and regulated by the Financial Conduct Authority.
By giving waste a second life, CIRQLR will reduce the economy’s over-reliance on imports, stabilise material supply and create the green jobs we all need. Our people are proud to do the right thing, helping business customers reduce waste sent to landfill with solutions that care for the environment.
