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Recycled fibers company Recover attracts Goldman-Led $100 Million Investment

Last updated: Sep 9, 2022

Summary

Recover, a producer of fibers using recycled cotton, has been supporting the industry in the shift from virgin to circular materials. Earlier in 2022, the company recently closed $100 million minority equity capital investment, which will enable it to further scale up its circular solutions. The investment was led by the Sustainability Investing business within Goldman Sachs Asset Management, which invested along with Recover’s majority shareholder Story3 Capital Partners. Sources close to the transaction said the deal values Recover at more than $1 billion.

Problem

Solution

Recover™ is a leading materials science company and global producer of low-impact, high-quality recycled cotton fiber and fiber blends. The family-owned materials science company has been in the business for over 70 years. Now led by the fourth generation of the Ferre family, Recover has spent decades honing its proprietary mechanical textile recycling process to create longer-staple clean cotton at a competitive cost.

Recover™ is known for two products made of recycled cotton:

- RCotton is Recover™'s fiber made from unblended recycled cotton fiber, suitable for overdyeing, using minimal solvents and water.

- RColorBlend is Recover™'s recycled cotton fiber, which is blended with other carriers' fibers that have been low-impact dyed to create new fibers, in a full spectrum of unique colors and at the lowest environmental cost.