Canada-based plastic packaging manufacturer IPL Global has acquired West Yorkshire-based plastic recycling firm Bright Green Plastics from investment firm AIAC. Bright Green Plastics started out in 1992 as a subsidiary of the Linpac Group, but was bought by AIAC and rebranded as Bright Green Plastics in 2020. The company currently recycles around 40,000 tonnes of plastic waste each year, mainly polypropylene and high-density polyethylene from sources such as household waste and commercial products.
Bright Green Plastics will continue to operate under the existing management team, which includes general manager Steve Spencer, who joined the business in 2019. The company employs some 130 employees, all of whom will be retained.
IPL Global, which was acquired in October 2020 by Chicago-based private equity investment firm Madison Dearborn Partners, says it plans to invest in equipment and projects to increase the recycling capacity and capabilities of the business. In the UK, IPL Global operates facilities in Rotherham, Hull, Tamworth, and Wolverhampton. Its other subsidiaries include One51, MGB Plastics, and Straight. Its acquisition of Bright Green Plastics was completed on 8 December.