Recover™ Accelerates Growth With $100 Million Minority Equity Investment Led by Goldman Sachs Asset Management, Partnering With Existing Investor STORY3 Capital Partners
9.6.2022 13:00:00 EEST | Business Wire | Press release
Recover™, a leading materials science company and producer of sustainable, premium recycled cotton fiber and cotton fiber blends, announced today that it has closed a new $100 million minority equity capital investment led by the Sustainable Investing business within Goldman Sachs Asset Management (Goldman Sachs). Goldman Sachs is investing alongside majority shareholder STORY3 Capital Partners.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20220607005869/en/
Goldman Sachs x Recover™ (Photo: Business Wire)
Recover will use the investment to accelerate its global expansion and production capacity, allowing more rapid adoption of sustainability initiatives by leading brands and retailers. Recover serves some of the largest and most recognizable retailers, brands and vendors in the world, including, among others, Primark, Inditex, C&A, Revolve and Lands’ End.
Recover’s proprietary recycled cotton fiber reduces the carbon and water intensity of the apparel supply chain, addressing the apparel sector’s contribution to one of the world’s largest sources of environmental degradation. Recover estimates that the new investment places Recover on a path to increase its production to over 350,000 metric tons of recycled cotton fiber per year by 2026, saving up to 5 trillion liters of water annually—equivalent to the drinking water consumed by over 4.5 billion people each year—and allowing for significant reductions of carbon emissions, energy and land use relative to conventional cotton fiber, based on industry research.*
“Goldman Sachs is committed to partnering with innovative businesses that help drive sustainability,” said Letitia Webster, Managing Director and Chief Sustainability Officer of Goldman Sachs Asset Management Division. “Recover is a leading disruptor in the apparel and textiles space with much-needed sustainable solutions grounded in materials science. We’re excited to invest in Recover’s growth to accelerate scaled production and the continued development of its technologies.” As part of the transaction, Webster will join the Board of Directors of Recover.
“Recover is helping create a sustainable future by solving a colossal environmental issue and we are overjoyed to partner with Goldman Sachs to accelerate our growth,” said Alfredo Ferre, fourth-generation family steward and CEO of Recover. Ben Malka, Operating Partner at STORY3 Capital Partners and Executive Chairman of Recover, stated, “Recover has perfected the art and science of scaled production of sustainable recycled cotton fiber over more than 70 years across multiple generations of the Ferre family in Spain. Today, Recover offers a solution grounded in proprietary IP that provides cost-competitive, maximum-performance recycled cotton fiber for both rotor and ring-spinning applications.”
The Recover brand is an important part of leading retailers’ and brands’ sustainability commitments and credentials, and a growing number of Recover’s customers are co-branding products with Recover to showcase that they have been produced with the company’s recycled cotton fiber. Operating in the $50 billion cotton market, Recover is a leading innovator and category-defining business that has experienced rapid growth. The company has opened new manufacturing hubs in Pakistan and Bangladesh, with additional hubs in Bangladesh and Vietnam due to open in the near term.
“For change to happen at scale across the fashion industry, we need partnership and collaboration with innovators like Recover,” said Lynne Walker, Director of Primark Cares, Primark. “As we increase the use of Recover’s recycled cotton fiber in Primark products, this investment will enable us to meet our pledge to make more sustainable fashion affordable to millions of customers.”
Peter Comisar, Managing Partner of STORY3 Capital Partners and former Partner of Goldman Sachs, said, “We are incredibly proud that our collaboration with Recover has enabled the business to dramatically scale since our acquisition in 2020. Over the coming years, we will see radical transformation of large industries with sustainable solutions. Recover is uniquely positioned to be the global leader in sustainable cotton fiber and we are excited to partner with Goldman Sachs on the next phase of Recover’s evolution.”
*Source: LCA study verified by AITEX, Universitat de València and UNESCO.
About Recover™
Recover™ is a leading materials science company and global producer of low-impact, high-quality recycled cotton fiber and cotton fiber blends. Its premium, environmentally friendly, cost-competitive products are created in partnership with the supply chain for global retailers and brands, offering a sustainable solution to close the loop on fashion. As a fourth-generation, family-owned company with a 70-year history in the textile industry, Recover is on a mission to scale its proprietary technology to make a lasting positive impact on the environment and partner with brands/retailers and other change makers to meet the industry’s sustainability targets. For more information, visit www.recoverfiber.com and follow @recoverfiber on social media.
About STORY3 Capital Partners
STORY3 is a leading alternative investment manager exclusively focused on the consumer value chain, including businesses at the intersection of consumer and sustainability. Since the firm’s inception in October 2018, the STORY3 team has sourced, arranged and executed over $1 billion of capital transactions in consumer-facing businesses. STORY3 employs a flexible investment strategy and pairs deep industry expertise, operating support, and unique transactional experience to support value creation for its partners. For more information, please visit www.story3capital.com .
About Goldman Sachs Asset Management
Bringing together traditional and alternative investments, Goldman Sachs Asset Management provides clients around the world with a dedicated partnership and focus on long-term performance. As the primary investing area within Goldman Sachs (NYSE: GS), we deliver investment and advisory services for the world’s leading institutions, financial advisors and individuals, drawing from our deeply connected global network and tailored expert insights, across every region and market—overseeing more than $2 trillion in assets under supervision worldwide as of March 31, 2022. Driven by a passion for our clients’ performance, we seek to build long-term relationships based on conviction, sustainable outcomes, and shared success over time. Follow us on LinkedIn.
To view this piece of content from cts.businesswire.com, please give your consent at the top of this page.
View source version on businesswire.com: https://www.businesswire.com/news/home/20220607005869/en/
Contact information
Media Contacts:
For Recover and STORY3
Stacy Berns / Michael McMullan
Berns Communications Group
sberns@bcg-pr.com / mmcmullan@bcg-pr.com
For Goldman Sachs
Avery Reed
Goldman Sachs & Co. LLC
Avery.Reed@GS.com
+1 212 902 5400
About Business Wire
For more than 50 years, Business Wire has been the global leader in press release distribution and regulatory disclosure.
Subscribe to releases from Business Wire
Subscribe to all the latest releases from Business Wire by registering your e-mail address below. You can unsubscribe at any time.
Latest releases from Business Wire
Component Sense Celebrates 25 Years With Over 80 Million Electronic Components Saved From Landfill10.11.2026 14:00:00 EET | Press release
Component Sense, a global company specialising in the redistribution of excess and obsolete electronic components, has now saved over 80 million components from landfill. The milestone coincides with its 25th anniversary this November, which it is marking by planting 2,500 trees with One Tree Planted. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261110298637/en/ Kenny McGee, CEO and Founder, Component Sense The company redistributes excess components from Tier 1 original equipment manufacturers (OEMs) and electronics manufacturing services (EMS) providers to a global network of buyers, helping manufacturers recoup value from inventory that would otherwise go to waste. Excess inventory is both a financial and an environmental burden for electronics manufacturers. With lead times still running long, shortages and surpluses exist side by side. Parts sit unused in one manufacturer’s warehouse, tying up capital, while another s
FDA Approves Promega OncoMate ® MSI Dx Analysis System as Companion Diagnostic for KEYTRUDA ® in MSI-High Solid Tumors10.11.2026 14:00:00 EET | Press release
The U.S. Food and Drug Administration (FDA) has approved the Promega OncoMate® MSI Dx Analysis System designed to identify patients with microsatellite high (MSI-H) solid tumors as a companion diagnostic designed for KEYTRUDA®, Merck’s (known as MSD outside the U.S. and Canada) anti-PD-1 therapy. OncoMate® MSI Dx Analysis System is a PCR-based assay designed to evaluate MSI status in solid tumor tissue. MSI status can be used to inform treatment decisions and support precision oncology strategies. “This approval reflects our dedication to providing meaningful diagnostic advances, developed to the highest quality and regulatory standards,” says Alok Sharma, Global Clinical Market Director at Promega. “Our test connects patients with the therapy most likely to help them, working alongside our pharmaceutical collaborators and the clinicians who use the result.” This approval was supported through a collaboration with Merck, which markets KEYTRUDA®. Together, the companies are working to a
Suzano Publishes First Report Aligned With Taskforce on Nature-related Financial Disclosures Recommendations10.11.2026 13:18:00 EET | Press release
Suzano, the world’s largest pulp producer, has published its first report aligned with the recommendations of the Taskforce on Nature-related Financial Disclosures (TNFD). The TNFD reporting framework helps organizations identify and assess how their dependencies and impacts may generate nature and biodiversity related risks and opportunities, and to disclose how they are integrated into the company’s governance, strategy, and corporate management. Initially focused on Suzano’s direct Brazilian operations, the report establishes methodological foundations, strengthens internal capabilities, and creates a pathway for the gradual expansion of nature-related assessments and disclosures over the coming years. The report also reinforces Suzano’s Nature Strategy, launched in November 2025. As part of its ongoing commitment to stronger management and greater transparency regarding ecosystem-related issues, Suzano has refined its methodology for identifying ‘Sensitive Locations’ by combining p
Robbyant Releases LingBot-Touch to Bring General-Purpose Touch Perception to Robots10.11.2026 11:23:00 EET | Press release
Robbyant, an embodied AI company within Ant Group, today announced the open-source release of LingBot-Touch, a tactile foundation model that gives robots a critical missing sense by enabling robust touch perception. This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261109284905/en/ LingBot-Touch encodes magnetic tactile, visual tactile, and piezoresistive signals into unified tactile tokens for use by different action models. Pre-trained on nearly 5,000 hours of real-world tactile data, the model covers three mainstream sensing modalities—magnetic tactile, visual tactile, and piezoresistive sensing—and translates their diverse signals into a unified tactile representation. This allows different dexterous hands and action models to share and reuse tactile understanding, enabling robots to not only “see clearer” and “think deeper,” but also “feel sharper” during fine manipulation tasks, such as turning pages, unscrewing bottle ca
Heitman Partners with Talliosake to Establish Nordic Drive-Up Self-Storage Platform Talli10.11.2026 11:00:00 EET | Press release
Heitman LLC (“Heitman”), a global real estate investment management firm, today announced the launch of Talli, a new Nordic drive-up self-storage platform established through the acquisition of the majority of Talliosake Oy’s (“Talliosake”) rental operating business. Talliosake will remain a minority investor in Talli. Completed on behalf of Heitman’s European value strategy, the transaction establishes a platform for expansion across Finland and Sweden and builds on Heitman’s Nordic self-storage presence following its acquisition of the Servistore platform in Sweden in 2024. The Talli platform brings together the experienced management team that has driven Talliosake’s growth with Heitman’s global investment and operational capabilities. Since 2010, Talliosake has delivered more than 6,400 drive-up self-storage units across 230 properties in Finland and Sweden, building deep expertise in land acquisition, planning, development, leasing, and asset management. Together, Heitman and Tall
In our pressroom you can read all our latest releases, find our press contacts, images, documents and other relevant information about us.
Visit our pressroom