Eagle Point Credit Management, a private credit investment manager, has provided $30 million in senior secured credit financing to Circular Services, a developer and operator of circular economy infrastructure in the United States.
Eagle Point’s customized financing solution supports Circular Services’ acquisition of a portfolio of eight composting facilities across Florida, Texas, North Carolina and California.
“Demand for circular economy infrastructure continues to accelerate, and Eagle Point is excited to partner with Circular Services to finance this significant expansion,” Jennifer Powers, principal and head of infrastructure credit at Eagle Point, said. “Circular Services’ scale and leadership, as the largest privately held recycling and circular economy service provider in the United States, affords Eagle Point with significant future financing opportunities through continued collaboration and partnership.”
Ron Gonen, CEO of Circular Services, said, “This financing strengthens our ability to advance our mission of building material recovery infrastructure that keeps valuable commodities out of landfills and in circulation. As communities and businesses seek sustainable waste solutions, our partnership with Eagle Point enables us to scale critical infrastructure for managing organic waste. Eagle Point’s significant knowledge of infrastructure and understanding of our business strategy helped us to realize our goals for this important acquisition. We look forward to continuing our collaboration with Eagle Point as we expand our national platform and drive measurable environmental and economic impact.”
