August 20, 2025, New York, NY – Today, Closed Loop Partners announces their acquisition of Agri-Cycle, a premier provider of organics collection for commercial & industrial sectors across the U.S. The acquisition was completed by Closed Loop Private Equity.

Since its inception in 2013, Agri-Cycle has expanded significantly, now operating as a leading provider of organics management services in the U.S. The company collects organic waste from over 2,400 locations across 14 U.S. states, and provides clients with education, collection, processing and disposal services, as well as data analytics and reporting to maximize cost savings and landfill diversion. They serve over 850 commercial and industrial customers, including Hannaford and other leading national players, addressing the ~$110 billion market for food waste management within the food industry.

Agri-Cycle’s acquisition takes place as strong regulatory tailwinds, including landfill disposal bans and organics diversion mandates in states including Maine, New Hampshire, Vermont and Massachusetts, accelerate demand for organics collection. Today, up to 40% of all food in the U.S. goes to landfill, equivalent to an estimated $340 billion in value and responsible for 58% of landfill methane emissions released to the atmosphere. With only 27 years of median landfill capacity remaining in the U.S.––and less in population centers––the need for scaled circular food waste management services is critical.

Following the acquisition, Agri-Cycle’s management team will partner with Closed Loop Partners to expand the company’s reach and services. With the firm’s deep experience in running circular economy businesses across a range of materials, and extensive ecosystem of the world’s largest corporations, institutional investors and notable family offices, Agri-Cycle has strategic support at a pivotal moment of expansion.

This is Closed Loop Private Equity’s most recent platform acquisition, employing a buy-and-build strategy to partner with companies and scale platforms and enabling technologies across plastics & packaging, circular technology, food & agriculture, the built environment, energy efficiency, textiles and healthcare, aiming to develop, accelerate and modernize circular supply chains and recycling & reuse infrastructure.

“Closed Loop Partners is proud to back Agri-Cycle, and partner with their management team to accelerate their path to scale and drive meaningful impact for organics circularity in the U.S. Through this acquisition, we can together capture the significant market opportunity for food and organic waste diversion in the U.S.,” said Jackson Pei, Co-head of Closed Loop Private Equity at Closed Loop Partners.

“The deep sector expertise and long tenured industry relationships of the Agri-Cycle team have laid a strong foundation for a platform positioned to scale both organically and through M&A,” said Daniel Phan, Co-head of Closed Loop Private Equity. “We look forward to supporting Agri-Cycle’s growth into a large national player for organics management, executing on a robust platform of acquisition targets and creating an ecosystem of best-in-class operating businesses in the industry,” added Derek Trott, Vice President of Closed Loop Private Equity.

Closed Loop Private Equity’s acquisition of Agri-Cycle marks a key milestone for Closed Loop Partners’ work to advance organics circularity––a key focus area for the firm alongside plastics & packaging, textiles and electronics. The firm’s broader work in organics spans solutions at every point of the value chain, including platforms to support regenerative food production, innovations to extend food shelf life, technologies to mitigate post-consumer organic waste, compostable packaging field tests, and composting and anaerobic digestion infrastructure.

“Our partnership with Closed Loop Partners marks the next phase of growth for Agri-Cycle Energy, as we work with their team and ecosystem toward our shared goal of driving a circular economy for organics,” said Dan Bell, CEO of Agri-Cycle. “Agri-Cycle has provided services to keep thousands of tons of food in circulation over the last decade. As the organics waste challenge grows more urgent, we look to continue meeting market demand, and work alongside Closed Loop Partners to accelerate impact at scale.”

To learn more about Closed Loop Partners, please visit here.

To learn more about Agri-Cycle, please visit here.

To learn more about Closed Loop Private Equity, please visit Closed Loop Partners’ website.

About Agri-Cycle

Agri-Cycle is the premier food-waste-collection service in the Northeast, and we are growing rapidly across the US.  We recycle organic waste via anaerobic digestion and composting, turning it into renewable energy and healthy soil.  Our partners include supermarkets, restaurants, universities, distribution centers, food processing plants, corporate cafeterias, school districts, municipalities, and hospitals. Agri-Cycle works in conjunction with sister companies, Stonyvale Farm (a fifth-generation family business) and Exeter Agri-Energy, as well as a growing network of anaerobic digestors that convert food waste into electricity, fuel, fertilizer, and other beneficial products. Our unique model is a fusion of Maine’s independent farming tradition and energy innovation. Waste collection is a critical component:  Agri-Cycle brings food full circle.

About Closed Loop Partners

Closed Loop Partners is at the forefront of building the circular economy. The company is comprised of three key business segments: its investment group, Closed Loop Capital Management; its innovation center, the Center for the Circular Economy; and its operating group, Closed Loop Builders. Closed Loop Capital Management manages venture capital, private equity and catalytic capital & private credit investment strategies.

Closed Loop Private Equity seeks to make control investments in cash flowing businesses and enabling technologies to scale platforms that are fundamental to the circular economy. Closed Loop Private Equity is focused on areas including plastics & packaging, circular technology, food & agriculture, the built environment, energy efficiency, textiles and healthcare. With a buy-and-build strategy, the team brings active capital solutions, operating experience, circularity expertise and the strategic network of the Closed Loop Partners ecosystem to capture opportunities for growth and accelerate the circular economy. Closed Loop Partners is based in New York City and is a registered B Corp.

Disclosure

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Capital Management or any company in which Closed Loop Capital Management or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Closed Loop Capital Management does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Closed Loop Capital Management’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision. Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Closed Loop Capital Management undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

August 12, 2025, New York, NY – Closed Loop Partners, a firm at the forefront of building the circular economy, today announces a notable contribution to the transition to the circular economy in its 2024 impact report. As of year-end 2024, the firm has kept nearly 16 billion pounds of materials in circulation and avoided over 25 million metric tons of greenhouse gas emissions, driven by over 90 investments in the circular economy across five continents, 10 countries and 29 U.S. states. As a result of over a decade of work, the firm’s portfolio companies have kept over $5 billion worth of valuable materials and products in circulation to date,¹

The firm’s report is released amidst a confluence of shifts in the global economy, increasingly volatile international supply chains, growing support for domestic manufacturing, and only 27 years of median landfill capacity remaining in the U.S.––and less in population centers. Key market drivers have brought the circular economy to the centerpiece for future growth, as capital deployment toward solutions that increase material security and supply chain resilience accelerate. By 2030, it is estimated that the circular economy has the potential to unlock $4.5 trillion in economic value.

Recapping over a decade of transformative progress, Closed Loop Partners’ report spotlights several important regions in the U.S. where the firm has already reached marked density and scale of circular solutions––through investments, in-market activations and infrastructure builds. This includes an electronics recovery corridor in the Northeast, an expansive recycling and manufacturing ecosystem in the Midwest, unprecedented citywide reuse initiatives in cities across the Western U.S., novel circular materials hubs across the Southwest and the largest private recycling and organics processor in the U.S. Closed Loop Partners and its ecosystem of partners have made strides toward a circular economy powered by local communities and supply chains––and positioned for global reach and connection.

“Over 10 years ago, the circular economy was an emerging concept. Today, it is a proven global economic accelerator, replacing the hidden costs of landfilling resources, and unlocking new opportunities for economic growth by recovering materials that are increasing in demand,” said Ron Gonen, Founder & CEO of Closed Loop Partners. “We’ve built a platform focused on resource efficiency through market dynamics, delivering long-term value for our investors, businesses, communities and the planet.”

Closed Loop Partners was founded over a decade ago with backing from a number of Fortune 500 corporations, top financial institutions and family offices, and partnerships with leading industry experts and cutting-edge innovators. Given the scale of change required to achieve circularity, the firm’s approach has been grounded in collaboration and on-the-ground work, and accelerated by multiple solutions working alongside each other. The firm has achieved success by developing local circular systems that can be scaled nationally and replicated across the globe.

Today, Closed Loop Partners operates three distinct businesses––Closed Loop Capital Management, an investment group managing private equity, venture capital, and catalytic capital & private credit strategies; the Center for the Circular Economy, an innovation center that works with the world’s most influential organizations to solve pressing material challenges; and Closed Loop Builders, an operating group that incubates, builds and scales circular economy infrastructure, including the largest privately held recycling and organics processing company in the U.S.

Across its platform, Closed Loop Partners has contributed to a structural shift in how industries approach production, consumption and waste. In just a decade, the firm, together with its partners, has achieved several milestones, including:

• 90+ investments in solutions ranging from synthetic biology and regional recycling to advanced material recovery technologies through venture capital, private equity, and catalytic capital & private credit strategies;
• Pioneering reuse initiatives through the Center for the Circular Economy, including the first citywide reuse initiative in the U.S.; and
• 27 facilities and 3 billion pounds of material processed through Circular Services.

As Closed Loop Partners reaches a key point of $5 billion worth of valuable materials and products kept in circulation by portfolio companies since the firm’s inception, the company reaffirms its commitment to building resilient, circular systems that drive sustainable growth. In the coming decade, the firm looks to continue growth across its platform, expanding its investments in the circular economy, partnerships with corporates and leading institutions, and development of circular economy infrastructure across the U.S.

“As we enter the next decade, the intersection of economic opportunity and environmental resilience has never been more critical,” said Ron Gonen, Founder & CEO of Closed Loop Partners. “We are doubling down on our mission to accelerate the transition to a circular economy—one that is profitable, sustainable and built to last.”

¹ This represents the market value of materials or products at the point in the value chain where they would have been lost to the linear economy, had a circular business not intervened. It does not include the numerous other ways that the circular economy adds value to the global economy, including jobs, wages, tax revenue and enabling associated businesses. Please see our full report for more information on this quantification.

About Closed Loop Partners

Closed Loop Partners is at the forefront of building the circular economy. The firm is comprised of three key businesses that create a platform for systems change: an investment group, Closed Loop Capital Management; an innovation center, the Center for the Circular Economy; and an operating group, Closed Loop Builders. Founded in 2014, the firm’s mission is to drive value and sustainable profitability by scaling businesses that advance the transition to a circular economy, generating net-positive environmental and social outcomes.

Closed Loop Capital Management manages venture capital, private equity and catalytic capital & private credit investment strategies on behalf of global corporations, financial institutions, and family offices. The Center for the Circular Economy unites competitors and partners to tackle complex material challenges and implement systemic change to advance circularity. Closed Loop Builders incubates, builds and scales circular economy infrastructure and solutions across the U.S.

Closed Loop Partners is based in New York City and is a registered B Corp. For more information, please visit www.closedlooppartners.com.

Disclosure

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Capital Management or any company in which Closed Loop Capital Management or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Closed Loop Capital Management does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Closed Loop Capital Management’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision. Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Closed Loop Capital Management undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

July 29, 2025, New York, NY – In a continued push to reduce single-use bag waste, the Consortium to Reinvent the Retail Bag—an industry collaboration managed by Closed Loop Partners’ Center for the Circular Economy—has launched the largest retail campaign of its kind in California, inviting customers to “Break Up With Single-Use Bags.” Supporting the initiative are Target, CVS Health and The Kroger Co. through its local banners Ralphs and Food 4 Less.

Now rolling out in nearly 1,000 stores across Southern California, the campaign significantly expands the Consortium’s reach and marks a milestone for bag reduction and reuse, engaging and inviting more than 10 million customers to reduce single-use bag waste and build a more circular future for their communities and the retail industry.

The campaign launches at a pivotal time, as major retailers recognize the need to support customer behavior change to meet waste reduction goals. California was the selected market for the campaign in anticipation of a significant policy shift: beginning in January 2026, the state will ban all single-use and thicker plastic bags, offering paper as the only single-use bag option. This transition presents a key opportunity for impact, based on evidence that well-designed policies, paired with effective consumer engagement, can drive meaningful reductions in single-use bag waste.

“Break Up With Single-Use Bags” is an ongoing, open campaign, inviting customers and retailers to participate in vital work to shape the future of retail, one that does not create single-use bag waste. The campaign encourages people to let go of familiar––yet operationally and environmentally challenging––habits of disposable bag use, and transition toward more resource-efficient low-waste choices.

“This campaign reflects a growing movement of retailers and communities working together, guided by data and a shared vision, to shift the retail experience toward one that eliminates waste altogether by reducing our reliance on disposable bags,” said Kate Daly, Managing Partner and Head of the Center for the Circular Economy at Closed Loop Partners.

The campaign includes a major rollout across Orange County, San Diego County and the Inland Empire, with a suite of customer engagement strategies, including in-store signage, checkout prompts, parking lot signage and out-of-store marketing, all designed to engage shoppers at key decision points. The campaign’s tactics and design were informed by data and insights from the Center for the Circular Economy’s previous in-market community-wide activations, including the 2024 Petaluma Reusable Cup Project in California and the 2023 Bring Your Own Bag pilot in Denver, Colorado, and Tucson, Arizona.

The in-market tests in Denver and Tucson deployed similar strategies and resulted in statistically significant reductions in single-use bag consumption. In Denver, where bag legislation is already in place, single-use bag transactions decreased by 11.7 percent. Across both markets, the pilot was estimated to have reduced single-use bag use by approximately 9.5 million bags annually. This upcoming in-market activation in California builds on proven tactics, with an expanded scope and extended timeline—running for over a year to generate deeper insights into long-term behavior change and systems-level outcomes.

“At Target, we’re proud to offer products and services that provide our guests with more sustainable options,” said Agata Ramallo Garcia, vice president, head of enterprise sustainability at Target. “We’re thrilled to support efforts like the Beyond the Bag Initiative that offer guests convenient solutions that reduce environmental impact and make a meaningful impact for the communities we serve.”

“The health of our environment is directly connected to the well-being of the people and communities we serve,” said Jenny McColloch, VP of Sustainability and Community Impact at CVS Health. “This connection drives our commitment to creating a more sustainable future across everything we do at CVS Health. This latest initiative aims to collaboratively address waste in our neighborhoods, stores and everyday decisions, creating a positive impact for individuals and the planet.”

“At our Ralphs and Food 4 Less stores, we’re helping customers take small but meaningful steps toward reducing waste,” said Salvador Ramirez, Corporate Affairs Manager at Ralphs and Food 4 Less. “‘Break Up With Single-Use Bags’ is about more than just bags––it’s about building habits that align with the values of our shoppers and the goals of our Zero Hunger | Zero Waste plan.”

The Consortium to Reinvent the Retail Bag brings retailers and communities together to create lasting impact and learnings that can be scaled to new markets, and is inviting more retailers and community partners to join the movement. Other participating retailers include Consortium Supporting Partner Dollar Tree and independent local retailers. All retailers in the participating communities are welcome to access the free signage toolkit, activate customer prompts and take part in reshaping retail norms around waste.

Visit www.closedlooppartners.com/beyond-the-bag/bub to download campaign materials and join the “Break Up with Single-Use Bags” movement.

About the Center for the Circular Economy at Closed Loop Partners

Closed Loop Partners is at the forefront of building the circular economy. The firm is comprised of three key businesses that create a platform for systems change. Closed Loop Capital Management is the firm’s investment group, managing venture capital, private equity and catalytic capital & private credit investment strategies on behalf of global corporations, financial institutions and family offices. Closed Loop Builders is the firm’s operating group, incubating, building and scaling circular economy infrastructure and services.

The Center for the Circular Economy is the firm’s innovation center. The Center executes research and analytics, unites brands and retailers to tackle complex material challenges and implements systemic change that advances the circular economy. The Center’s expertise spans circularity across the full lifecycle of materials, connecting upstream innovation to downstream recovery infrastructure and end markets.

Learn more about the Center’s work at https://www.closedlooppartners.com/the-center/

About the Consortium to Reinvent the Retail Bag

The Consortium to Reinvent the Retail Bag, managed by Closed Loop Partners’ Center for the Circular Economy, is a multi-year industry collaboration across retail sectors that identifies, tests and implements viable design solutions and models that more sustainably serve the purpose of the current retail bag. The Consortium’s Beyond the Bag Initiative drives forward a circular future for retail by reducing single-use bag waste through education, incentives, nudges and policy. Target, CVS Health and The Kroger Co. are Strategic Leads of the Consortium, with Dollar Tree, Meijer and Walmart as Supporting Partners. Learn more at www.beyondthebaginitiative.com.

MORE PARTNER QUOTES

“At Dollar Tree, we’re committed to delivering everyday value while helping our customers reduce waste for a healthier planet. The Break Up with Single-Use Bags campaign is a natural fit for us—it’s about making small changes that are both easy and affordable for customers to act on every time they shop, while also being good for our communities.” – Jennifer Silberman, Chief Sustainability and Corporate Affairs Officer, Dollar Tree

“The Break Up with Single-Use Bags campaign reflects the kind of collaborative, community-powered solution that will have lasting influence. We are pleased to partner with Closed Loop Partners and the Beyond the Bag initiative to connect diverse regional stakeholders, enabling the significant breadth and reach of this program. By engaging individuals, businesses, and local jurisdictions, this campaign empowers sustainable behavior change across Southern California—meeting people where they are, providing a practical climate solution, and making a measurable impact on the waste challenges we face regionally and beyond.” – Jessica Toth, Executive Director, Solana Center for Environmental Innovation, a 501(c)(3) non-profit organization located in San Diego

“Reducing single-use waste is key to a sustainable California. As we move toward a statewide transition away from plastic bags, the “Break Up with Single-Use Bags” campaign arrives at the perfect time, showcasing how businesses, communities, and individuals can work together to support meaningful, lasting change.” – Sen. Catherine Blakespear | California Senate District 38

“We must take steps to reduce our plastic waste. Switching to reusable bags is a small change that can make a big difference. We can all do our part to protect our planet, save marine life, and clean up our communities.” – Rep. Mike Levin | California U.S. Representative, 49th District

July 15, 2025, New York, NY — The Consortium to Reinvent the Retail Bag, managed by Closed Loop Partners’ Center for the Circular Economy, released a new in-depth analysis of single-use bag legislation in the U.S., setting a new standard in environmental policy research. The comprehensive policy white paper, “Legislation in Action: Measuring the Impact of U.S. Single-Use Bag Policies on Waste Reduction,” evaluates the efficacy and impact of various legislative mechanisms, including a comparison of bag fees and outright bans across diverse communities, revealing how different strategies influence bag waste reduction and consumer behavior.

Amidst increasing bag policy implementation across U.S. states, the white paper also reveals never-before-seen primary research into New Jersey’s pioneering legislation, the Get Past Plastic Act, which eliminated both single-use plastic and paper bags in grocery and big box stores. The rigorous analysis offers elected officials, regulators, community leaders and community stakeholders an objective summary of legislation’s impacts and potential unintended consequences on a community, enabling officials to effectively tailor legislation to their constituents and desired outcomes.

A key finding of the Consortium’s analysis on single-use bag legislation notes that while policy can be one of the most effective tools to reduce single-use bag waste, consumers must also be supported in adopting waste-free behavior. The Consortium’s 2023 in-market activations in Denver and Tucson, which tested consumer-facing bag reduction solutions in 375 stores across 160 different retailers, resulted in a 4.8% decrease in single-use bags across the two markets and an 11.7% reduction in Denver, where there was legislation. Overall, the city-wide activations resulted in up to 9.5 million single-use bags reduced annually across the two markets.

Building on these in-market findings and its in-depth policy analysis, the Consortium will launch a new consumer campaign this summer, encouraging consumers to bring their own reusable bags or choose not to take a single-use bag at all. Details of the campaign will be released in the next month.

“Policy is a major driver of the transition to the circular economy. While there is no single solution to reduce single-use bag waste, our rigorous analysis of legislation and in-depth understanding of consumer norm setting can provide communities with the tactical resources they need for a waste-free future,” said Kate Daly, Managing Partner and Head of the Center for the Circular Economy at Closed Loop Partners. “We look forward to sharing more insights on policy and the circular economy and activating in-market work alongside our partners to turn waste reduction practices into everyday habits.”

The Consortium to Reinvent the Retail Bag invites retailers, policymakers and community leaders to learn more about the efficacy of legislation through our detailed policy white paper. To access the full policy report, please visit closedlooppartners.com/beyond-the-bag/legislation/

About the Center for the Circular Economy at Closed Loop Partners

Closed Loop Partners is at the forefront of building the circular economy. The firm is comprised of three key businesses that create a platform for systems change. Closed Loop Capital Management is the firm’s investment group, managing venture capital, private equity and catalytic capital & private credit investment strategies on behalf of global corporations, financial institutions and family offices. Closed Loop Builders is the firm’s operating group, incubating, building and scaling circular economy infrastructure and services.

The Center for the Circular Economy is the firm’s innovation center. The Center executes research and analytics, unites organizations to tackle complex material challenges and implements systemic change that advances the circular economy. The Center’s expertise spans circularity across the full lifecycle of materials, connecting upstream innovation to downstream recovery infrastructure and end markets.

Learn more about the Center’s work at https://www.closedlooppartners.com/the-center/

About the Consortium to Reinvent the Retail Bag

The Consortium to Reinvent the Retail Bag, managed by Closed Loop Partners’ Center for the Circular Economy, is a multi-year industry collaboration across retail sectors that identifies, tests and implements viable design solutions and models that more sustainably serve the purpose of the current retail bag. The Consortium’s Beyond the Bag Initiative drives forward a circular future for retail by reducing single-use bag waste through education, incentives, nudges and policy. Target, CVS Health and The Kroger Co. are Strategic Leads of the Consortium, with Dollar Tree, Meijer and Walmart as Supporting Partners. Learn more at www.beyondthebaginitiative.com.

June 30, 2025, New York, NY – Daniel Phan joins leading circular economy-focused firm Closed Loop Partners as Managing Director and Private Equity Co-Head. Following his role as Managing Director at Aterian Investment Partners, Phan joins as a senior member of Closed Loop Partners’ asset management business, Closed Loop Capital Management, to co-lead the firm’s private equity investment strategy alongside Ron Gonen, Closed Loop Partners’ Founder & CEO, and Jackson Pei, Managing Director and current Private Equity Co-Head.

Phan joins Closed Loop Partners as the firm looks toward continued growth in the coming year. With a recent strategic investment from Capricorn Investment Group into Closed Loop Capital Management, the firm is well positioned for continued expansion and execution on behalf of its corporate, institutional and family office partners.

Phan brings 15 years of buy-and-build private equity experience, having developed numerous platform investments in the built environment, facilities & infrastructure services, among other related industrial sectors. He also brings extensive expertise across specialty manufacturing, chemicals and material sciences, distribution, medical and life sciences, and related sectors.

Prior to joining Closed Loop Partners, Phan was a Managing Director and one of the earliest investment team members at Aterian Investment Partners, where he spent nearly 12 years. Aterian is a leading private equity firm managing over $2 billion of cumulative equity commitments primarily across industrial, services and infrastructure sectors in North America and globally.

Prior to Aterian, Phan was an investment team member at Corporate Partners LLC, the private equity affiliate of Lazard Frères, and began his career at Deutsche Bank in the Media Telecom group.

“We are proud to have Daniel join the Closed Loop Partners team, as our firm accelerates growth and contributes to the momentum behind the transition to the circular economy. Daniel’s longstanding experience in the private equity market, as well as his expertise in key areas of our expansion, bolsters our ability to build circular economy platforms that keep materials in circulation at scale, increase supply chain resilience, and contribute to positive impact outcomes while delivering value to stakeholders for impact,” says Ron Gonen, Founder & CEO of Closed Loop Partners.

“This is a key moment of growth for our middle market private equity business, as we build on our successes to date, and leverage the growing relevance of this asset class to global investors,” says Tazia Smith, CEO of Closed Loop Capital Management. “As the current market presents a critical opportunity for growth in circular solutions that provide resilience and security, we look forward to working toward key milestones as Daniel, Jackson, Ron and our broader investment team continue to execute on our buy-and-build investment strategy.”

Current investors in the firm’s private equity investment strategy include KIRKBI; funds and accounts managed by BlackRock; Realdania’s mission-driven investment arm; Nestlé; Microsoft; PepsiCo; Unilever; other corporate partners, institutional allocators and global family offices.

“The strength of Closed Loop Partners’ platform and ecosystem of investors uniquely positions the firm to continue leading the transition to the circular economy,” says Daniel Phan, now Managing Director and Private Equity Co-Head at Closed Loop Partners. “With the expertise of the private equity team, and its ability to leverage the firm’s full platform and actively engaged strategic corporate partner network, there is a clear runway ahead for growth and impact. I look forward to working with Jackson, Ron, Tazia and the team to realize these opportunities.”

Closed Loop Capital Management’s private equity investment strategy will continue its middle market mandate, following its recent acquisitions of circular technology platforms, including a majority stake in leading IT Asset Management and Disposition (ITAD) provider, Sage Sustainable Electronics. Phan and Pei will lead the private equity team in thesis-driven sourcing and value creation, seeking opportunities to acquire cash-flowing businesses across plastics & packaging, circular technology, food & agriculture, built environment, energy efficiency, textiles and healthcare, and build them into larger platforms that can deliver circular solutions at scale.

To learn more about Closed Loop Partners’ private equity strategy, please visit https://www.closedlooppartners.com/capital-management/private-equity/leadership/

About Closed Loop Partners

Closed Loop Partners is at the forefront of building the circular economy. The company is comprised of three key business segments: its investment arm, Closed Loop Capital Management; its innovation center, the Center for the Circular Economy; and its operating group, Closed Loop Builders. Closed Loop Capital Management manages venture capital, private equity and catalytic private credit investment strategies.

Closed Loop Partners’ private equity strategy captures this market opportunity for the circular economy by identifying solutions, originating innovative opportunities, and building and scaling platforms and enabling technologies across plastics & packaging, circular technology, food & agriculture, built environment, energy efficiency, textiles and healthcare to develop, accelerate and modernize circular supply chains and recycling & reuse infrastructure.

Disclosure

This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Capital Management or any company in which Closed Loop Capital Management or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Closed Loop Capital Management does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Closed Loop Capital Management’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision. Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Closed Loop Capital Management undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.

May 6, 2025, New York, NY — The Composting Consortium, managed by Closed Loop Partners’ Center for the Circular Economy, is launching a grant program in collaboration with the US Composting Council (USCC) and the Biodegradable Products Institute (BPI) to help composters and municipalities expand their ability to process certified compostable packaging and food scraps. Eligible U.S. compost manufacturers and municipalities are invited to apply for funding to support on-site improvements, public education and market development that allow for the inclusion of these materials.

The Consortium’s grants aim to support financing for crucial upgrades that enable the processing of certified compostable food packaging and food scraps, which reduces packaging and food waste in landfills and supports a circular economy for organics. Funding can be used by composters and municipalities in various ways, such as offsetting the costs of installing new equipment to address contamination from conventional plastics, conducting trials for the inclusion of compostable packaging, or updating signage, stickers and other marketing and outreach materials that clearly communicate the acceptance of certified compostable packaging to help improve participation and reduce contamination.

The grant program is launching at a critical time, as the U.S. composting industry is still in an early stage of accepting food scraps––with a majority of facilities only accepting yard trimmings––and consumers are increasingly seeking opportunities to divert food waste. Today, approximately 70% of the roughly 200 commercial compost facilities in the U.S. that process food waste also process limited formats of food-contact compostable packaging. Around 45% of curbside food scrap collection programs and 65% of drop-off collection programs allow certain formats of compostable packaging, with the understanding that accepting these materials helps divert more food waste from landfill, where it is a significant emitter of greenhouse gases.

“As the composting industry continues to grow, ensuring that compost manufacturers have the tools and incentives to successfully accept and process certified compostable packaging and food scraps is crucial,” said Frank Franciosi, Executive Director of the US Composting Council. “This funding will help strengthen the circular economy for organics, compostable packaging and our industry.”

“Composting plays a vital role in reducing organic waste in landfills and building healthy soils––but updates are needed to ensure that our composting system can meet the volumes and diversity of materials entering the organics stream today,” said Paula Luu, Senior Project Director at Closed Loop Partners’ Center for the Circular Economy and Composting Consortium lead. “These grants can provide composters and communities with the resources they need to scale their impact and support zero waste goals.”

“These new grants build on BPI’s micro-grant program launched last year, which promoted programs that already take compostable products, by providing larger sums that can move the needle by encouraging the development of new or expanded access to programs,” said Rhodes Yepsen, Executive Director of the Biodegradable Products Institute. “Partnering with the Composting Consortium, whether on grants, field testing, contamination studies or consumer testing, aligns with our core mission, and we are excited to continue our collaborative approach to building pathways that are good for business, for people and the planet.”

The grant program builds on the Composting Consortium’s ongoing work to strengthen composting infrastructure, validate best practices for processing compostable packaging, and advance policies that support the industry. By partnering with composters and municipalities, the Consortium, USCC and BPI seek to close the loop on compostable materials and ensure they, and the food nutrients they carry, are diverted from landfill and processed by composters.

Grant applications are now open, with a submission deadline of June 13th, 2025. All funded projects must be completed by March 1, 2026. For more information on the grant program, including eligibility criteria for composters and municipalities and application details, please visit https://www.closedlooppartners.com/the-center/composting-grant-program/

About the Composting Consortium

The Composting Consortium is an initiative of Closed Loop Partners’ Center for the Circular Economy. The Consortium brings together leading voices across the composting and compostable packaging ecosystem––from the world’s leading brands to best-in-class composters running the operations on the ground. Through in-market tests, deep research and industry-wide collaboration, we are laying the groundwork for a more robust, resilient composting system that can keep organics and compostable packaging in circulation.

About the US Composting Council

The US Composting Council is dedicated to the development, expansion and promotion of the compost manufacturing industry. The USCC meets this mission by encouraging, supporting and performing compost-related research, promoting best management practices, establishing standards, educating professionals and the public about the benefits of compost and compost utilization, enhancing compost product quality, and developing training materials for compost manufacturers and markets for compost products. USCC members include compost manufacturers, marketers, equipment manufacturers, product suppliers, academic institutions, public agencies, nonprofit groups and consulting/engineering firms. The USCC is a non-profit 501(c)(6) organization and is affiliated with the Compost Research & Education Foundation (CREF), a 501(c)(3) charitable foundation that promotes public and private compost research and education activities.

About Biodegradable Products Institute

The Biodegradable Products Institute (BPI) is North America’s leading authority on compostable products and packaging. The organization is science-driven and supports a shift to the circular economy by promoting the production, use, and appropriate end of lives for materials and products that are designed to fully biodegrade in specific biologically active environments. BPI’s certification program operates in conjunction with education and advocacy efforts designed to support the broader effort to keep food scraps and other organics out of landfills. To learn more about BPI, please visit www.bpiworld.org.

March 25, 2025, New York, NY – Today, Closed Loop Partners publishes new data revealing high volumes of recycled food-grade polypropylene (PP) captured at materials recovery facilities (MRFs). The study, led by the Closed Loop Foundation and Closed Loop Partners’ Center for the Circular Economy, in collaboration with technology company Greyparrot and four U.S. MRFs, leveraged AI-powered vision systems to characterize the PP recycling stream with unprecedented detail. These results fill data gaps on the availability of food-grade PP, which can create new opportunities to return this material to foodservice packaging supply chains.

The findings are released amidst growing demand for recycled food-grade PP, driven by policy shifts­­––including recycled content mandates and Extended Producer Responsibility (EPR)––and commitments from brands to incorporate more recycled materials in their packaging. Despite increased market demand, there has been a significant lack of data on the available volumes of recycled food-grade PP in the recycling system. With no easy way to track, differentiate and separate food-grade and non-food-grade PP, these materials typically blend together at MRFs, making it challenging to amass the appropriate quantities of food-grade PP to meet growing market demand.

With funding from the NextGen Consortium and the Closed Loop Foundation, the Center for the Circular Economy teamed up with Greyparrot and four MRFs to reveal what was in the PP recycling stream, including the volume of food-grade and non-food-grade items, as well as color, format and other critical identifying features. Nearly 45 million individual PP and non-PP objects were characterized over the course of the study, revealing newfound granular details on the PP comprising the stream.

The study revealed 3 key findings:

1. Clear and white food-grade PP is abundant: On average, more than 75% of the PP captured in the study was white or clear, most of which was also presumed to be food grade. Furthermore, over 30% of clear PP packaging identified were beverage cups. This has important implications for meeting growing food-grade PP demand and how to retain more value in the system.

2. AI-enabled technologies can reliably quantify and classify recyclables with granularity, at scale: AI systems, such as the Greyparrot Analyzer, proved reliable in providing effective material characterization data at previously unavailable scales. This indicates the potential for AI to drive value to MRFs through increased intelligence and data granularity on material flows.

3. AI can help measure and track facility and equipment performance: Upgrades to optical sortation technology at MRFs had a notable impact on improved material sortation. This was progress that the AI technology was able to track and provide critical analytics on, indicating the potential for AI to offer enhanced performance evaluation data for MRF operators.

“The data captured demonstrates what is possible for the future of recycling and circular materials management, when powered by technology that can enhance transparency in the recycling system and increase high-quality material recovery,” said Kate Daly, Managing Partner and Head of the Center for the Circular Economy at Closed Loop Partners. “As we continue our work with many of the world’s largest retailers and foodservice brands, we look forward to identifying more opportunities to pull valuable food-grade materials back into foodservice packaging supply chains––a critical step toward recycled content goals and packaging circularity.”

“This work provides important data and transparency around the performance of AI technology and its capabilities within MRFs. We are proud to contribute critical data on the presence and quantity of food-grade objects within the PP stream,” said Gaspard Duthilleul, COO of Greyparrot. “In just three months, Greyparrot Analyzers characterized over 45 million PP and non-PP materials—a process that would take nearly four years manually, as manually characterizing just 1,000 pounds of material can take an entire day. This scale uncovers new opportunities for data collection at recycling facilities, serving as the foundation for increased recovery of valuable materials.”

While the characterization study focused on uncovering better data at one node of the PP recycling value chain, the results underscore that strong recycling data can enhance recovery opportunities and create new value up and down the recycling system.

These insights lay the groundwork for additional studies that can generate new, valuable recovery opportunities further downstream. Moving forward, Closed Loop Partners’ Center for the Circular Economy will continue to identify opportunities to leverage new data and innovations to advance material recovery with the recycling industry and global retail and foodservice brands.

This collaborative work aims to drive greater recovery of food-grade polypropylene––and other materials––and keep these valuable resources in circulation in local supply chains. To learn more and to visit closedlooppartners.com/center

About the Center for the Circular Economy at Closed Loop Partners

The Center for the Circular Economy is the innovation arm of Closed Loop Partners, a firm at the forefront of building the circular economy. The Center executes research and analytics, unites organizations to tackle complex material challenges and implements systemic change that advances the circular economy. The Center for the Circular Economy’s expertise spans circularity across the full lifecycle of materials, connecting upstream innovation to downstream recovery infrastructure and end markets. Learn more about the Center for the Circular Economy at closedlooppartners.com/the-center

About Greyparrot

Greyparrot (greyparrot.ai), the leader in AI waste analytics, is applying AI to globally scale recycling and save millions of tons of waste from landfills and incinerators. By providing deeper, more intelligent insights about waste stream composition and value, Greyparrot is helping the waste sector recover more value from waste processing lines and reduce the environmental impact of waste.

The company’s waste intelligence platform, including Greyparrot Analyzer and Greyparrot Sync (API), reveals real-time insights on over 111+ waste categories across seven layers of data, including financial value, brand, and GHG emissions, captured at multiple locations across a recycling facility. In 2024, Greyparrot analyzed over 40 billion waste objects helping drive efficiency to save hundreds of thousands, to millions, of dollars per facility — while diverting millions of tons of waste away from landfills, oceans, and incinerators.

Using Greyparrot insights, recycling professionals, plant builders, packaging producers, and FMCG brands can make decisions to help them increase recycling efficiency, comply with recycling regulations, and improve recyclable packaging design.

New York, NY, March 11, 2025 – Today, Closed Loop Partners’ Center for the Circular Economy, in partnership with the U.S. Plastics Pact and its network of more than 120 businesses, retailers, not-for-profit organizations, government agencies and research institutions, released new insights to support the ongoing expansion of reuse in the U.S. The report, Getting Ready for Reuse in Retail: An Actionable Guide for Consumer Product Categories Most Likely to Succeed for Reuse in the U.S., identifies five high-priority product categories primed for near-term implementation of reusable packaging––including food, personal care, home care and more. This serves as a guide for businesses looking to pinpoint packaging formats best suited for reuse, to help meet single-use waste reduction goals.

The report is released at a time of increased scrutiny on the economic and environmental impact of single-use packaging in the U.S. Every day, 225,000 tons of single-use packaging are used in the U.S. Research and in-market tests over the last decade have shown the importance of reuse in recovering material value. However, implementing reuse requires significant shifts in operations and infrastructure, reverse logistics and consumer education. To advance a successful shift to reuse, it is critical to begin with categories that show the most immediate potential to meet intended environmental, operational and financial goals.

Retail stores––as central hubs of consumer interaction––are uniquely positioned to lead this transition to reuse. They can scale reuse systems that can transform the way Americans shop, while minimizing ecological impact. This study analyzed the 10 consumer product categories that account for over 90% of purchased packaged goods sold in U.S. grocery retail stores, and identified the top five retail categories best suited for near-term adoption of reuse:

• Prepared food packaging in retail, such as salad bars, snack bars and rotisserie chickens;
• Fresh produce containers, especially if pre-cut and packed locally and manually;
• Beverage bottles for localized supply chains like milk and dairy, leveraging legacy reusable packaging supply chains;
• Home care product bottles, such as liquid-based floor cleaners and detergents, which often are already in durable containers;
• Personal care product bottles, such as soaps and shampoos, especially if they can leverage similar return infrastructure as bottles from beverage or home care products.

The report delves into insights and opportunities within each category, including its potential to deliver environmental benefits, and achieve operational alignment and consumer acceptance.

“Reuse is at a pivotal point of development in the U.S. To get to the next phase of scale, it is critical to align concerted efforts around target categories,” said Kate Daly, Managing Partner and the Head of the Center for the Circular Economy at Closed Loop Partners. “With collaborative and coordinated work that reimagines our supply chains across retail sectors, we can transform the way everyday products are used and recovered, paving the way to a future where reuse is an everyday norm in the U.S.”

Since 2018, the Center for the Circular Economy has been testing diverse reuse solutions in retail stores and restaurants across the U.S., in partnership with many of the world’s most influential organizations. In 2023, the Center wrapped its largest returnable bag program and bring your own bag program, led by the Consortium to Reinvent the Retail Bag. In 2024, the Center launched the Petaluma Reusable Cup Project, led by the NextGen Consortium. This was the nation’s first citywide program to offer reusable to-go cups to every customer with no deposits or fees. Since then, significant progress has been made to inform the design of systems that make reuse an everyday reality.

The Center began its collaboration with the U.S. Plastics Pact in 2023, engaging the customer bases of 16 reuse innovators participating in the U.S. Plastics Pact’s Reuse Catalyst Program, and studying early adopter behavior to discover five key insights on how reuse systems can be positioned to create the most appeal for consumers.

“Collaboration across the value chain is essential to addressing the complex challenge of plastic waste, as no single brand or retailer can drive systemic change alone,” said Jonathan Quinn, CEO of the U.S. Plastics Pact. “This research is an important step in exploring reuse as one strategy to reduce plastic waste, providing insights that can help advance collective action and support a range of scalable solutions.”

While this report highlights five retail product categories that are most primed for a near-term transition to reuse, other retail categories present opportunities for the long term. However, before scaling to other categories, it is important to begin with those primed for the switch, and gather insights to inform further implementation.

In the coming year, the Center will continue scaling reuse solutions through its in-market activations and research to make reuse an everyday reality in the U.S. Furthermore, as a direct result of this report, the U.S. Plastics Pact will launch a precompetitive initiative to facilitate brands and retailers in shifting one product category to reuse in retail.

Learn more about Closed Loop Partners’ Center for the Circular Economy here.

Learn more about the U.S. Plastics Pact here.

About the Center for the Circular Economy at Closed Loop Partners

The Center for the Circular Economy is the innovation arm of Closed Loop Partners, a firm at the forefront of building the circular economy. The Center executes research and analytics, unites organizations to tackle complex material challenges and implements systemic change that advances the circular economy. The Center for the Circular Economy’s expertise spans circularity across the full lifecycle of materials, connecting upstream innovation to downstream recovery infrastructure and end markets.

Since 2018, the Center for the Circular Economy has worked with leading brands, retailers, reuse operators and public partners to innovate, test and scale diverse reusable packaging solutions in retail stores across the U.S.

Learn more about the Center for the Circular Economy at https://www.closedlooppartners.com/the-center/.

About the U.S. Plastics Pact

The U.S. Plastics Pact (U.S. Pact) brings together businesses, not-for-profit organizations (NGOs), government agencies, trade organizations, and research institutions that work together toward a common vision of a circular economy for plastics, as outlined by the Ellen MacArthur Foundation’s New Plastics Economy Initiative. This vision aims to ensure that plastics never become waste by eliminating the plastics we don’t need, innovating to ensure that the plastics we do need are reusable, recyclable, or compostable, and circulating all the plastic items we use to keep them in the economy and out of the environment.

The U.S. Pact’s latest strategic plan, Roadmap 2.0, includes a target dedicated solely to reuse. After publishing different resources, including Unpacking Customer Perspectives on Reusable Packaging, in partnership with the Center, and also the Design for Reuse Playbook and Reuse Policy Benchmark in the past year, the focus of this new target is to facilitate the enabling of reuse at different levels of the industry.

Learn more about the U.S. Plastics Pact at https://usplasticspact.org/.

February 26, 2025, New York, NY –– Today, the NextGen Consortium, led by Closed Loop Partners’ Center for the Circular Economy, with partners including Starbucks, The Coca-Cola Company, PepsiCo, Yum! Brands and other global businesses released groundbreaking results from the Petaluma Reusable Cup Project, the first initiative to catalyze reuse across an entire U.S. city.

The report, Making Reuse an Everyday Reality: Insights and Impact from the Petaluma Reusable Cup Project, reveals a major milestone for the reuse movement: enough of the project’s purple cups were successfully returned for the reuse system to produce environmental benefits when compared with a single-use alternative. Delivering a positive environmental outcome on this scale is particularly significant because the program was designed to automatically serve every customer ordering a to-go beverage with a reusable cup, across a citywide network.

This unprecedented collaboration in Petaluma set out to address accessibility and inclusivity challenges that typically restrict the ability of reuse programs to deliver impact. Throughout the duration of the three-month project, 30 businesses in Petaluma––from national brands to local restaurants––switched out single-use cups for reusable alternatives in unison, at no cost to the customer. Local consumers responded, returning cups from day one, with returns climbing rapidly in the first few weeks and over 220,000 cups returned throughout the program.

The Petaluma Reusable Cup Project was launched at a critical time, amidst growing regulatory, consumer and climate pressures on single-use packaging waste. Advancing reuse has been a focus for the NextGen Consortium, as identifying alternatives to single-use packaging becomes a top priority for brands and cities seeking to reduce waste. In the U.S., 50 billion single-use cups are purchased and disposed of each year, and many of these materials are wasted in landfills. With the support of NextGen Consortium partners––Starbucks, McDonald’s, The Coca-Cola Company, PepsiCo, Yum! Brands, Wendy’s, Delta Air Lines, Toast and Keurig Dr Pepper––and the Closed Loop Foundation, the Petaluma Reusable Cup Project successfully surpassed the environmental breakeven point for reuse, meaning the reusable cups were better for the environment than single-use cups.

“The best part was that this project got the whole community involved. Deep public-private partnerships, including commerce and non-profits collaborating, demonstrated that it is possible to launch an inclusive and accessible reuse system that supported our residents. People got into it, and it was the talk of the town,” said Mayor Kevin McDonnell of the City of Petaluma. “We are thrilled to be a part of this important work to scale reuse systems that keep our communities clean and support positive environmental outcomes.”

“The Petaluma Reusable Cup Project demonstrated an ambitious, innovative vision of reuse as an everyday reality, paving the way for the Consortium to scale reuse in California and other markets,” said Carolina Lobel, Senior Director at the Center for the Circular Economy at Closed Loop Partners. “Together, we can scale the solutions that have been proven to work and solve the current open challenges identified in the Petaluma project.”

The Petaluma Reusable Cup Project builds on over half a decade of work to advance reuse by Closed Loop Partners’ Center for the Circular Economy. While there is still work ahead to increase return rates, given variability across participating businesses, the groundbreaking results achieved mark an important milestone in catalyzing and scaling reuse systems. The Consortium invites brands, retailers, cities and innovators from all sectors to join upcoming reuse activations in cities across the U.S.––making critical strides to building a waste-free world.

To learn more about the Petaluma Reusable Cup Project, visit https://returnmycup.com/.

About the NextGen Consortium

The NextGen Consortium is a multi-year consortium that addresses single-use foodservice packaging waste by advancing the design, commercialization and recovery of foodservice packaging alternatives. The NextGen Consortium is managed by Closed Loop Partners’ Center for the Circular Economy. Starbucks and McDonald’s are the founding partners of the Consortium, with The Coca-Cola Company and PepsiCo as sector lead partners. Peet’s Coffee, with its parent company JDE Peet’s, Wendy’s, Yum! Brands, Delta Air Lines and Toast are supporting partners. World Wildlife Fund (WWF) is the environmental advisory partner. Learn more at nextgenconsortium.com.

About the Center for the Circular Economy at Closed Loop Partners

The Center for the Circular Economy is the innovation arm of Closed Loop Partners, a firm at the forefront of building the circular economy. The Center executes research and analytics, unites organizations to tackle complex material challenges and implements systemic change that advances the circular economy. The Center for the Circular Economy’s expertise spans circularity across the full lifecycle of materials, connecting upstream innovation to downstream recovery infrastructure and end markets. Learn more about the Center for the Circular Economy at closedlooppartners.com/the-center/

February 20, 2025, New York, NY – Today, Closed Loop Partners’ portfolio company, Sage Sustainable Electronics (“Sage”), announces their acquisition of IT Asset Disposition (ITAD) company, Cascade Asset Management (“Cascade”). Cascade is a longstanding leader in the IT Asset Disposition (ITAD) industry, providing hardware asset lifecycle management, reuse, refurbishment and disposition services. Following its acquisition of Cascade, Sage Sustainable Electronics becomes one of the largest pure ITAD service providers in the United States.

The acquisition takes place amidst increasing demand to bring valuable electronics––and their critical mineral components––back into circulation for reuse in domestic supply chains in the U.S. The acquisition accelerates Sage’s path to becoming the leading platform within the ITAD industry, servicing major corporations through IT asset recovery and lifecycle extension. The acquisition was completed through Closed Loop Partners’ buyout private equity group focused on buying and building platforms to advance a circular economy.

Closed Loop Partners first joined forces with Sage in 2023 as a majority shareholder in the company, aiming to accelerate the company’s growth and strengthen its position as a leading provider of sustainable ITAD services in North America. Since then, Sage has been at the forefront of advancing a circular economy for electronics. The company provides secure reuse and recovery solutions to businesses seeking to sustainably dispose of their IT assets.

Today, Sage faces an evolving IT industry. Responding to pressures for improved materials recovery and cost efficiency, device lifecycles are being extended, with an average refresh cycle by IT departments of two years for smart phones, four years for laptops and five years for printers. Amidst increasing demand for services to extend the lifecycle of electronic devices, Sage completed its acquisition of Cascade, bolstering capabilities including de-manufacturing and reuse, and increasing reusability yield.

“Cascade is among the most respected IT Asset Disposition companies in the industry, bringing over two decades of experience and a comprehensive suite of electronics recovery solutions that complement Sage’s growing platform,” said Bob Houghton, CEO of Sage Sustainable Electronics. “This marks an important milestone for Sage, as we accelerate progress toward increased market reach and scaled impact. We are thrilled to join forces with Cascade, an experienced operator in the industry, expanding our platform to keep more electronics in circulation across industries.”

Founded in 1999, Cascade brings over 25 years of experience as an industry-leading IT Asset Disposition company, headquartered in Madison, Wisconsin. The company’s services include reuse, refurbishment, de-manufacturing, recycling and resale, providing additional scale, capabilities and human resources to Sage’s platform. Cascade brings in a strong customer base in the healthcare, manufacturing and technology sectors, creating opportunities to advance circularity across more industries. With facilities in Wisconsin, Indiana and Florida, Cascade further expands Sage’s national footprint, deepening exposure in the Midwest and providing new exposure in the Southeast.

“We are proud to join forces with Sage Sustainable Electronics, growing their platform as one of the largest pure IT Asset Disposition service providers in the U.S.,” said Neil Peters-Michaud, Founder & CEO of Cascade. “Our aligned mission, complementary services and geographic footprint accelerate shared goals to transform the ITAD industry and meet growing demand for electronics recovery across industries. Together, we can reach more markets, laying the groundwork for greater impact.”

Closed Loop Partners’ buyout private equity group employs a buy-and-build strategy to partner with companies and scale platforms and enabling technologies across plastics & packaging, organics, circular technology, the built environment and textiles. The group aims to develop, accelerate and modernize circular supply chains and recycling & reuse infrastructure. The investment to support Sage’s acquisition of Cascade builds on Closed Loop Partners’ robust portfolio of investments to advance circularity for electronics––one of the firm’s key focus areas, alongside packaging, textiles, organics and more. Closed Loop Partners’ broader portfolio of investments in electronics circularity spans IT asset management and disposition, disassembly and remanufacturing, collection and reuse, and end-of-life electronics recycling.

“Closed Loop Partners is proud to back Sage Sustainable Electronics’ acquisition of Cascade Asset Management. Cascade’s experience and reach strengthens Sage’s position as a leading IT Asset Disposition provider, with extensive capabilities to serve diverse locations and industries––from healthcare, to technology, to manufacturing,” said Jackson Pei, Managing Director and Co-head of Closed Loop Partners’ buyout private equity group. “We look forward to supporting Sage’s continued expansion to bring more electronics back in circulation, keeping them within domestic supply chains and out of landfills.”

Following the acquisition, Sage will continue to grow its services and geographic footprint, positioning the company for wider reach.

To learn more about Closed Loop Partners, please visit here.

To learn more about Sage Sustainable Electronics, please visit here.

To learn more about Cascade Asset Management, please visit here.

About Closed Loop Partners

Closed Loop Partners is at the forefront of building the circular economy. The firm is comprised of three key businesses that create a platform for systems change: an investment group managing venture capital, buyout private equity and catalytic private credit investment strategies, Closed Loop Capital Management; an innovation center, the Center for the Circular Economy; and an operating group, Closed Loop Builders.

The firm’s lower mid-market buyout private equity investment strategy, the Closed Loop Leadership Group, seeks to make control investments in cash flowing businesses and enabling technologies to scale platforms that are fundamental to the circular economy. The Closed Loop Leadership Group is focused on areas including plastics & packaging, electronics, organics, the built environment, healthcare and the energy transition. With a buy-and-build strategy, the team brings active capital solutions, operating experience, circularity expertise and the strategic network of the Closed Loop Partners ecosystem to capture opportunities for growth and accelerate the circular economy. Closed Loop Partners is based in New York City and is a registered B Corp.

To learn about the Closed Loop Leadership Group, visit www.closedlooppartners.com.

About Sage Sustainable Electronics

Sage Sustainable Electronics, based in Columbus, Ohio is a leading provider of IT Asset Disposition (ITAD) services, safely and securely refurbishing used IT assets for another life. Co-founded in 2014 by CEO Bob Houghton, Sage’s platform has expanded to include four national repurposing facilities across three states, processing nearly one million assets annually. Sage extends the useful life and increases the recovery value of IT assets for its clients, which include Fortune 100 companies across various industries, including finance, healthcare and defense.

About Cascade Asset Management

Cascade Asset Management, based in Madison, Wisconsin, has provided secure and environmentally responsible IT Asset Disposition (ITAD) services since 1999. Founded by Neil and Jessica Peters-Michaud, the company has since grown to operate full-scale refurbishment and demanufacturing facilities in Madison, Indianapolis, and Orlando. Cascade leverages its fleet of vehicles and field service professionals to offer an industry-leading secure chain of custody to transport assets efficiently from client locations to its certified processing facilities. The company has processed more than 115 million pounds of electronics from businesses, institutions, and individuals across the U.S.

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This publication is for informational purposes only, and nothing contained herein constitutes an offer to sell or a solicitation of an offer to buy any interest in any investment vehicle managed by Closed Loop Capital Management or any company in which Closed Loop Capital Management or its affiliates have invested. An offer or solicitation will be made only through a final private placement memorandum, subscription agreement and other related documents with respect to a particular investment opportunity and will be subject to the terms and conditions contained in such documents, including the qualifications necessary to become an investor. Closed Loop Capital Management does not utilize its website to provide investment or other advice, and nothing contained herein constitutes a comprehensive or complete statement of the matters discussed or the law relating thereto. Information provided reflects Closed Loop Capital Management’s views as of a particular time and are subject to change without notice. You should obtain relevant and specific professional advice before making any investment decision. Certain information on this Website may contain forward-looking statements, which are subject to risks and uncertainties and speak only as of the date on which they are made. The words “believe”, “expect”, “anticipate”, “optimistic”, “intend”, “aim”, “will” or similar expressions are intended to identify forward-looking statements. Closed Loop Capital Management undertakes no obligation to update publicly or revise any forward-looking statements, whether as a result of new information, future developments or otherwise. Past performance is not indicative of future results; no representation is being made that any investment or transaction will or is likely to achieve profits or losses similar to those achieved in the past, or that significant losses will be avoided.