The Sterling Group Forms New PET Recycling Platform, Evergreen
HOUSTON, June 9, 2021 /PRNewswire/ -- The Sterling Group, an operationally focused middle market private equity firm, today announced the formation of a new PET recycling platform company, Evergreen.
- HOUSTON, June 9, 2021 /PRNewswire/ -- The Sterling Group, an operationally focused middle market private equity firm, today announced the formation of a new PET recycling platform company, Evergreen.
- Sterling executed the carve-out of Evergreen, the recycling division of current portfolio company, Greenbridge Packaging, and merged it with the Riverside, California assets of CarbonLITE, acquired through a 363 bankruptcy process.
- The combined business positions Evergreen as one of the nation's largest PET recyclers, collecting and processing over one billion post-consumer PET bottles annually at facilities in Clyde, Ohio and Riverside, California.
- "We are focused on elevating our commitment to rPET bottle-to-bottle recycling," said Omar Abuaita, CEO of Evergreen.