Recycling : Closed Loop Leadership Fund leads a group of Investors in acquiring Sims Municipal Recycling

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Sims Municipal Recycling (SMR) currently operates four recycling facilities across the New York-New Jersey metro region and Florida, including its Brooklyn materials recovery facility (MRF), which is the largest dual stream recycling facility in North America. SMR also manages the long-term New York City residential recycling contract, which is the largest municipal recycling contract in North America. The investment in SMR is expected to accelerate the recovery of valuable commodities, including plastics, paper, metal and glass, diverting them from landfills and returning them to manufacturing supply chains. In the coming years, SMR’s expansion is expected to create additional local jobs in the recycling and manufacturing sectors, accelerating the development of circular economy infrastructure in the United States. This acquisition is made possible by a group of investors, including investment funds managed by Closed Loop Partners, such as the Closed Loop Leadership Fund and the Closed Loop Circular Plastics Fund, as well as the Partnership Fund for New York City, among others.

SMR’s board will become one of the first majority female-led boards in the industry, with Jessica Long, Managing Director at Closed Loop Partners, as Chairperson of the Board. Long says, “Closed Loop Partners’ ecosystem of investors––including strategic corporate partners like Nestlé, PepsiCo Beverages North America, Microsoft and Unilever, pension funds, family offices and foundations––are all interested in developing sustainable business models and markets for recycled content, keeping valuable materials out of landfill. This investment, coupled with the existing portfolio of Closed Loop Partners’ managed investment funds, will enable SMR to expand its services, accelerating the development of circular economy infrastructure in the United States.”