First Reserve to Buy Metal Recycling and Refining Firm, Metallum Group

First Reserve, a private equity firm focusing on the natural and energy resources industries, declared that it has inked a deal to buy Metallum Group, a metal recycling and refining firm based in Europe, for €670 million.

Metallum Group uses modern technologies to produce high-quality metals from low-grade copper scrap. The group comprises two different businesses, namely Metallum and Metallo. The former recycles ferrous and non-ferrous scrap and trades the products in the European market, while the latter handles copper and tin refining activities using low and very low-grade scrap as raw materials. The group operates mainly in Beerse, Belgium.

Metallum Group accounts for 20% of copper volumes traded in the European market. It has 14 yards and a network of 350 suppliers, which allow it to source low-cost feed even under stretched market conditions. The company’s leading position in the metal recycling market will allow it leverage stringent European Union environmental standards.

The Director of First Reserve, Alex Williams stated that the company is happy to back Metallum Group’s management team to improve its production capacity and operations as well as implement its acquisition strategy. The firm’s technology advancements in processing low grade copper scrap into metal further reinforce its competitive edge.

The Executive Chairman of Metallum Group, Patrick Verschelde commented that First Reserve’s established connections in the metal industry and its experience in the energy market will allow Metallum Group to implement its development plan and expansion strategy.

Source: http://www.firstreserve.com

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