UK-based waste management services provider Total Recycling Services (TRS) has secured £6.7m ($9.7m) from Business Growth Fund (BGF), the fund backed by banks Barclays, HSBC, Lloyds, RBS and Standard Chartered.
Headquartered in Darlington, TRS works with companies across the UK on their waste management and recycling strategies.
The funding will be used to scale the company, growing its number of services and increasing its client base, according to managing director Alex Foreman.
Foreman said: “After six years building a stable customer base and investing in equipment and facilities, we are now in a position to scale up our operations.
“Keeping control of the business and finding an investor that would provide long-term funding was important to us.”
TRS will also appoint Ross Smith, currently non-executive chairman of J&B Recycling, as its non-executive chairman in order to focus on its longer-term growth plans following an introduction by BGF. J&B is also backed by BGF and based in Teeside.
– Photo courtesy of Total Recycling Services