Manufacturer Circulus secures $300m loan from Apollo

The financing will be used to back the company’s ongoing development of recycling infrastructure.

  • Circulus is a portfolio company of Ara Partners
  • Citigroup acted as capital markets advisor to Circulus while White & Case LLP provided legal counsel
  • Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to Apollo

Apollo Global Management has agreed to provide a $300 million to Houston-based Circulus, a producer of post-consumer resin. The financing will be used to back the company’s ongoing development of recycling infrastructure. Circulus is a portfolio company of Ara Partners.

On providing the financing to Circulus, Apollo Partner Corinne Still said in a statement,

“With a seasoned management team, first-mover advantage in the North American LPDE market, best-in-class manufacturing technology and strong industry tailwinds, Circulus is well positioned to execute on its growth plans. We look forward to leveraging our deep relationships and experience within the petrochemical industry to support the company’s continued expansion.”

Citigroup acted as capital markets advisor to Circulus while White & Case LLP acted as legal counsel. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to Apollo.

Ara Partners invests in the industrial & manufacturing, chemicals & materials, energy efficiency & green fuels and food & agriculture sectors.

As of June 30, 2022, Apollo had approximately $515 billion of assets under management.