Bain Capital has acquired Envision Plastics and Ecoplast Corp. for undisclosed amounts.
Envision and Ecoplast are plastic recycling groups that were sold by founders Massoud Rad and Parham Yedidsion. Envision provides recycling operations through two facilities one in Reidsville, North Carolina, and one in China, California. Ecoplast makes resins from recycling plastic.
Bain made the deal through portfolio company Consolidated Container Company, which makes bottle packaging. The targets will operate as a stand-alone businesses. Bain bought Consolidated Container in 2012. The firm recently bought Australian franchise group Retail Zoo, and before that, invested in Grupo Notre Dame Intermedica, an insurance group.
FocalPoint Partners LLC acted as financial adviser to Rad and Yedidsion on the deal, and Buchalter Nemer provided legal advice.
In another recycling deal, lower middle-market private equity firm Trivest Partners recapitalized and took a majority stake in Columbus Recycling earlier in June.