MML Growth Capital Partners Ireland is to make a £20m investment into Natural World Products Limited (NWP), the largest recycler of household organic waste on the island of Ireland.

NWP manages more than 250,000 tonnes of organics annually across Ireland, producing organic compost with significant benefits for soil health and carbon sequestration.

It supplies compost to a wide range of local community and voluntary projects as well as to customers as diverse as hobby gardeners, landscapers and farmers.

The business employs 55 staff across four facilities in Northern Ireland and is widely regarded as a progressive leader within its field.

Today's deal will make MML the company's largest single equity holder and includes investment by 57 Stars.

It represents a significant investment in the business alongside the current management team led by Colm Warren. As part of the deal, all of the existing shareholders apart from Colm Warren will exit the business.

The MML investment is led by members of its Ireland team, including Neil McGowan, Shane Cooke, Chris Walsh and Muireann MacAuliffe.

It will be made from MML Growth Capital Partners Ireland Fund II LP, a €145m growth fund backed by British Business Investments, AIB and a number of international institutional investors.

The fund is dedicated to backing small and medium sized businesses on the island of Ireland.

Colm Warren, CEO of NWP, said the company had achieved an awful lot in the last few years despite often challenging circumstances but, in reality, it is only getting started.

"We are delighted to have both MML, 57 Stars, and HSBC as supportive partners, backing our ambition for the business and helping to take NWP into its next cycle of development and evolution," Mr Warren said.