Dedicated growth equity private equity fund manager Circularity Capital has announced £10 million investment in ACS Clothing, a UK circular and sustainable fashion enabler.
Circularity Capital manages a special growth equity fund that invests in European SMEs working within the circular economic system. Established in 2015, the company’s mission is to deliver value for investors by supporting growth and innovation in the circular economy.
ACS, one of the UK’s largest enablers for circular fashion, operates from a 19,000 square meter automated building. ACS supports fashion retailers and brands in offering circular fashion through subscription, rental and resale. This helps reduce waste and capture value from stock.
This company offers a full rental, subscription, and fulfillment service. It manages the whole process from its specially-built location.
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.”