Balcones Resources Acquires Florida’s First AI-Powered Recycling Company Single-Stream Recyclers
Balcones Resources Acquires Florida’s First AI-Powered Recycling Company Single-Stream Recyclers to Expand & Modernize Best-in-class Recycling Facilities in the U.S.
Closed Loop Partners, Balcones Resources and Single Stream Recyclers Come Together to Advance the Circular Economy Ecosystem in the South
John Hansen and Eric Konik, founders of SSR and industry veterans, have been working together since 2006 to modernize the recycling industry. They have more than 50 years of combined experience in recycling, with a deep expertise in building and operating best in class facilities that create bales of commodities ready to go back into the packaging and product supply chains. They are known for their successful hands-on approach to growing recycling facilities, with expertise and insight into how each division of an organization functions together.
“We built SSR as we saw a huge need for improved recycling infrastructure with more efficient processing capabilities. With the growing demand from companies for high-quality recycled content, it is time to build the materials recovery facilities of the future that will be the hubs of these supply chains. In partnership with our friends at Balcones and Closed Loop Partners, we can scale the systems needed to realize that circular vision,” said John Hansen, Co-founder of SSR.
Balcones Resources is a best-in-class recycling and resource management company that has been in business for more than 25 years, handling commercial and residential recycling, among other services in Texas and Arkansas. Balcones was looking for a partner that would bring the same level of operational excellence and long-term relationships to help expand into new markets.
“Single Stream Recyclers is a valued community partner and has the kind of experience and operational knowledge that aligns with our organization’s management team. Together we will be able to offer state-of-the-art equipment and innovative technology that will help us continue to revolutionize the recycling industry,” said Kerry Getter, Chairman and CEO of Balcones Resources.
This will be Balcones’ first acquisition since Closed Loop Partners obtained a majority stake in the company in 2019. The purchase of Single Stream Recyclers is part of Balcones’ strategy to scale recycling across the United States and provide new opportunities and further sustainability initiatives for their employees, customers, and investors.
“To scale the new economic model of the future – the circular economy – we need partners committed to building models that efficiently return high value recycled commodities back into products and packaging. With Balcones Resources and Single Stream Recyclers joining forces, alongside our broad network of engaged investors, including corporate investors like Microsoft, institutional investors and family offices, together we can eliminate waste, reduce costs and increase efficiencies,” said Maite Quinn, Managing Director, Closed Loop Partners.
About Balcones Resources
Balcones Resources began operations in 1994 and has grown into a nationally recognized firm and one of the top 50 recyclers in North America. With more than 200 employees across its three locations, Balcones is a recycling partner for municipalities, multi-tenant facilities, corporate campuses, manufacturing facilities, and distribution centers. For more information on Balcones Resources and its environmental services, visit BalconesResources.com.
About Single Stream Recyclers, LLC
Single Stream Recyclers is a materials recovery facility located in Sarasota, Florida. SSR processes materials from all over the west coast of Florida. The facility sorts, bales and ships aluminum, cardboard, food and beverage cartons, glass, paper, plastics, metal and other recyclables from residential curbside and commercial recycling collection. SSR is heavily invested in technology to help create the best possible end products and reduce contamination as well as residue. Learn more at www.singlestreamrecyclers.com.
About Closed Loop Partners
Closed Loop Partners is a New York based investment firm comprised of venture capital, growth equity, private equity, project finance, and an innovation center focused on building the circular economy. Investors include many of the world’s largest consumer goods companies and family offices interested in investments that provide strong financial returns and tangible social impact. Learn more at www.closedlooppartners.com.