Private equity Circularity Capital invests £10m in ACS Clothing
Circularity Capital is a specialist growth equity fund manager which invests in European SMEs operating within the circular economy. Established in 2015, the company’s mission is to deliver value for investors by supporting growth and innovation in the circular economy.
ACS is one of the largest circular fashion enablers in the UK, operating from a unique 19,000 sq m automated facility. ACS works with fashion brands and retailers to support them in their journey of offering fashion in a circular format, through rental, subscription and resale models, thus reducing waste and capturing value from stock.
The company provides a complete rental, subscription and resale fulfilment service, managing the entire process from its purpose-built facility.
Andrew Rough, Chief Executive Officer of ACS, said: “I am delighted to partner with Circularity Capital, this strategic partnership recognises our objective of creating one of Europe’s largest circular fashion solutions providers specialising in clothing rental, subscription and resale.
“Circularity has a proven track record in playing a proactive role in supporting the growth of circular businesses. Offering so much more than just finance, the organisation will prove pivotal in delivering our goal of helping more fashion businesses to embrace rental, subscription and resale models.”
Andrew Shannon, founding partner at Circularity Capital, added: “The average European throws away 11kg of textiles every year, and around the world a truckload of textiles is landfilled or incinerated every second. ACS provides the capabilities and processes to enable retailers to scale their rental, subscription and resale ambitions with ease, transforming the industry from a traditional take-make-dispose model to one of reuse and resale.”