Simpson Thacher represented CIM Group, L.L.C. as co-lead investor, alongside Aravaipa Ventures, in funding for Bolder Industries, Inc., consisting of $80 million in equity and an additional $100 million in committed project-level funding to accelerate its commercial scalability and advance its environmental, social and governance (ESG) impact globally. Funding will support the global growth for Bolder Industries based on its proven circular solution for end-of-life tires to meet increasing customer demand, including long-term contracts from major automotive, manufactured rubber, plastics and sustainable petrochemicals partners.
Founded in 2011, Bolder Industries provides circular solutions for rubber, plastic and petrochemical supply chains.
CIM Group is a community-focused real estate and infrastructure owner, operator, lender and developer.
The Simpson Thacher team included Shamus Crosby, Ana Sanchez, Hunter Hampton and Isaac Syed (Corporate); and Benjamin Rippeon (Tax).