ACS Clothing Limited, a company providing circular fashion solutions, has received an investment of 10 million pounds from private equity firm Circularity Capital.
Glasgow-based ACS was established in 1997 as a formal hire company before transforming into one of the UK’s biggest providers of rental, subscription, and resale fulfilment services for fashion brands and retailers.
The company operates out of a 19,000 square metre automated facility in the UK, and counts the likes of Moss Bros, Monsoon, and LK Bennett among its retail partners.
Circularity Capital, which invests in European growth SMEs operating within the circular economy, said its investment will help ACS continue to expand and meet demand in the fast-growing rental market.
“I’m delighted to partner with Circularity Capital as we accelerate our growth in this rapidly expanding market,” ACS chief executive Andrew Rough said in a statement. “Circularity has a proven track record in playing a proactive role in supporting the growth of circular businesses.”
Rough said that on top of the financing, Circularity Capital “will prove pivotal in delivering our goal of helping more fashion businesses to embrace rental, subscription and resale models”.
Andrew Shannon and Andrew Eadie from Circularity Capital have been appointed to the board of ACS Clothing.
The news comes after ACS secured 2.5 million pounds in July 2021 to help increase the capacity of its operations and grow its workforce.