UK-based recycling company J&B Recycling secured £7.5m ($11.7m) in growth capital yesterday from investment fund Business Growth Fund (BGF), according to Angel News.
BGF is backed by UK-based banking groups including HSBC, Barclays, Lloyds, RBS and Standard Chartered.
J&B Recycling offers waste collection, recovery and recycling services throughout the North East of England to the public and private sector. It has a turnover of about £10m a year and employs 175 staff.
The company will use the funding to build an additional recycling facility focused on commercial waste and to expand its existing facilities focused on household waste. It plans to hire more staff to support this expansion.