Circularity Capital is a specialist growth equity fund manager which invests in European SMEs operating within the circular economy. Established in 2015, the company’s mission is to deliver value for investors by supporting growth and innovation in the circular economy.

Andrew Rough, CEO of ACS, said: “I am delighted to partner with Circularity Capital, this strategic partnership recognises our objective of creating one of Europe’s largest circular fashion solutions providers specialising in clothing rental, subscription and resale.

“Circularity has a proven track record in playing a proactive role in supporting the growth of circular businesses. Offering so much more than just finance, the organisation will prove pivotal in delivering our goal of helping more fashion businesses to embrace rental, subscription and resale models.”

Andrew Shannon, founding partner at Circularity Capital, added: “The average European throws away 11kg of textiles every year, and around the world a truckload of textiles is landfilled or incinerated every second.

“ACS provides the capabilities and processes to enable retailers to scale their rental, subscription and resale ambitions with ease, transforming the industry from a traditional take-make-dispose model to one of reuse and resale,”

“The investment from Circularity Capital will support the further expansion of ACS’ enabling solution to meet demand of a growing fashion rental industry.”

Circularity Capital’s investment will see the growth equity expert play a driving role in supporting ACS’ management team, as the company pursues continued market growth and international expansion. Mr Shannon and Andrew Eadie have joined the board.