MML Growth Capital Buys Into Green Waste

24 Aug 2021 | 09.29 am

MML Growth Capital Buys Into Green Waste

Natural World Products is sector leader in Northern Ireland

24 Aug 2021 | 09.29 am

Private equity fund MML Growth Capital Partners has acquired control of Natural World Products in Northern Ireland

NWP, which employs 55 people, provides 50% of all recycling from Local Authority collected municipal waste in the North, with composting and recycling facilities located in west Belfast and Keady in Armagh.

MML said the deal results in MML emerging as the largest shareholder in NWP. All of the existing shareholders apart from CEO Colm Warren will exit the business.

MML Growth Capital Partners Ireland Fund II LP is a €145m investment fund backed by British Business Investments, AIB and a number of international institutional investors. The fund is dedicated to backing SMEs on the island of Ireland.

“NWP is an outstanding example of the circular economy in action,” said MML’s Neil McGowan. “It helps divert organic waste away from landfill with all the carbon-saving benefits that entails but is also a key ingredient in helping to return organic matter to heavily farmed soils and offering alternatives to peat-based growing media in horticulture.

“Colm Warren and the NWP team are passionate about the business and have a proven track record of delivering strong growth. We are delighted to partner with them and are keen to invest further to allow this business achieve its exciting potential.”

Investing alongside MML is 57 Stars, an alternative asset manager with over $4 billion in in capital raised and managed.

Bank financing for the deal is being provided by HSBC. EY advised the shareholders of NWP. Tughans acted as legal advisers to MML while Mills Selig acted for NWP shareholders.

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