Recycler Jadcore Inc. is getting a new investors and is looking to grow.
Private equity firm Stonehenge Partners Inc. of Columbus, Ohio, is making an undisclosed, non-controlling investment in the Terre Haute, Ind.-based company.
Existing owners at Jadcore are maintaining a controlling interest in the company and will remain in place, said Blaige & Co, a Chicago-based investment banking firm that advised Jadcore on the deal.
“As a leader in specialty recycling, Jadcore represents an excellent platform for consolidation of this rapidly expanding sector. Stonehenge has the industry expertise and capital to assist in executing an aggressive growth plan,” said CEO Thomas Blaige in a statement.
Jadcore's resins are used by others to make products such as flexible and rigid packaging, pipe and industrial products, Blaige & Co. said. Jadcore also makes recycled content trash can liners.