White & Case advises Circulus Holdings on a US$300 million senior secured loan facility
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Global law firm White & Case LLP has advised Circulus Holdings, PBLLC, a producer of post-consumer resin from recycled low-density polyethylene, on a US$300 million senior secured term loan facility made available by funds managed by certain affiliates of Apollo to support the company's ongoing development of recycling infrastructure.
Based in Houston, Circulus is a portfolio company of Ara Partners, a private equity firm specializing in industrial decarbonization investments. Circulus is an emerging leader in plastics recycling, utilizing proprietary technologies to transform olefin plastics into resins suitable for a variety of commercial and industrial applications. The company's products look to support the circular economy with post-consumer resins suitable for applications such as plastic bags, shrink film, pouches, overwraps and many more consumer-facing applications. Circulus currently has two plants producing post-consumer resins, with one additional facility coming online in the near term and two more in development.
The White & Case Debt Finance team was led by partner Mark Holmes, and included associates Litian Chen and Luke Allen (all in Houston). The team also included M&A partner Steve Tredennick, Tax partner Chad McCormick, Environment & Climate Change partner Taylor Pullins, M&A associate Alex Lippert and Tax associate Neil Clausen (all in Houston).
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