CVC Credit provides term loan to finance plastic recycler’s growth
Published: 07 November 2018
CVC Credit’s U.S. Middle Market Private Debt business provided a first lien senior secured debt facility to CarbonLITE Industries, LLC. Founded in 2011, CarbonLITE specialises in processing used plastic bottles into bottle-grade resin flakes and pellets that can then be used to manufacture new plastic beverage bottles and other products. CarbonLITE operates a 220,000-square-foot bottle-to-bottle recycling plant that processes more than two billion plastic bottles annually. CarbonLITE is growing rapidly, and the new term loan will allow it to increase production capacity, refinance existing debt, and provide a more flexible capital structure. This will allow CarbonLITE to continue its mission to preserve natural resources, reduce greenhouse gases, and diminish landfill problems.