Kartesia provides sustainability-linked financing to Cumbria Waste Group
Kartesia, the European specialist provider of capital solutions for SME companies, is pleased to announce that it has provided a sustainability-linked financing solution to Cumbria Waste Group (“CWG” or “The Group”), the largest provider of waste collection, waste disposal, and recycling services in Cumbria. This investment marks Kartesia’s fourth deal from its Impact Strategy and the third in the UK.
The Group’s core focus is on circular activity – maximising recycling and resource recovery efforts to displace virgin material use in manufacturing processes, as driven by tightening regulations, legislative reforms, and shifting social priorities towards more sustainable practices. CWG does this by offering a comprehensive range of end-to-end waste management solutions from collection to processing, recycling and responsible disposal for over 5,000 commercial and public sector customers across northern England and southern Scotland.
The financing facility provided by Kartesia will support CWG’s continued growth and expansion under its new owner Waterland, whilst also promoting agreed ESG measures that reinforce the Group’s already strong stance on maintaining and developing its environmental and social impact. As part of the agreement, CWG will benefit from more attractive financing terms by meeting certain key performance indicators (“KPIs”), these being centred around two key impact areas: reducing its environmental footprint as well as investing in workforce development and their health and safety.
The deal team at Kartesia consisted of Nick Holman, Kamil Kapasi and Serafina Di Felice.
Nick Holman, Head of UK and Ireland at Kartesia, commented: “Cumbria Waste Group perfectly embodies the type of company we target through our impact strategy – those driving sustainable progress while operating with integrity. Their extensive regional footprint and focus on maximising the level of waste recycled or otherwise repurposed and minimising what goes to landfill creates meaningful environmental impact across the north of England. The KPIs we’ve established will not only benefit CWG’s employees and operations, but also reinforce the company’s strong commitment to environmental stewardship and social responsibility. Together with Waterland and the Management team, we look forward to supporting the future growth and progress of CWG”.
Andy Chant, CEO of Cumbria Waste Group, said: “This investment from Kartesia’s Impact Strategy will help us to further invest to drive both organic and acquisitive growth in accordance with our strategic goals. It was important to us to find a financing partner that was closely aligned to our values and highly supportive of our culture and ethos. We have been impressed by the professionalism and passion of the Kartesia team and the expertise and focus they have brought to our environmental, social and welfare agenda. This partnership will support us in scaling our business in a sustainable fashion, promoting the circular economy and driving meaningful change that benefits our employees, customers, and communities. We look forward to working closely with Nick and his team in future.”
Robin Elley, Senior Investment Manager at Waterland Private Equity, said: “We are very happy to have secured funding from the Kartesia Impact Strategy, where we are aligned in wanting to help companies achieve their ambitions both from a financial and sustainability-agenda perspective. Our shared goals mean that Cumbria Waste Group will benefit from supportive partners with very clear and unified aspirations.”