Analysis
April 4, 2024
SDI subsidiary acquires Ohio metals recycler
Written by Stephanie Ritenbaugh
OmniSource LLC, a subsidiary of Fort Wayne, Indiana-based steel producer and recycler, Steel Dynamics, Inc., has acquired Toledo Shredding, LLC, in Ohio.
Terms of the deal were not disclosed in an announcement Thursday by Chicago-based Brown Gibbons Lang & Company.
Toledo Shredding, founded in 2003, is a subsidiary of Fairlawn, Ohio-based ProTrade Group, a fully integrated scrap metal company that specializes in both ferrous and nonferrous metals. ProTrade has four trading offices, two processing facilities and a full-service transportation division with over 300 private railcars.
Toledo Shredding is a 30-acre scrap metal processing facility. Its main operation is a Wendt-designed recovery system located in a 30,000-square-foot production facility.
OmniSource operates about 70 US scrap collection and processing facilities in the United States and Mexico, including 11 operating shredders, which can process more than 7 million tons of ferrous scrap annually and more than one billion pounds of nonferrous metals, according to the Fort Wayne, Indiana-based company.
Brown Gibbons Lang & Company’s Metals & Advanced Metals Manufacturing investment banking team served as the exclusive financial adviser to Toledo Shredding in the transaction.
