Private equity firm TowerBrook Capital Partners LP has signed a
deal to acquire a majority stake in Metallum Holding SA, giving
it exposure to the European metal refining and recycling
headquartered in New York and London, said it had been in talks
to acquire Metallum since late 2012. The deal includes both
Metallum divisions: Belgium-based Metallo Chimique NV, which
specializes in copper and tin secondary refining, and
Switzerland-based Metallum Group (Schweiz) AG, which operates
scrap handling and recycling facilities in Europe, Asia and the
The acquisition from
European private equity firm Groupe Alpha is expected to be
completed in August. The terms of the deal were not
Metallums "established presence in the European market"
and "unique knowledge of low-grade ferrous and nonferrous scrap
recycling" as factors driving its decision to invest.
continuing improvement in the refining process and M&A
consolidation in the recycling yards will allow us to
capitalize on the existing merits of the company," TowerBrook
managing director Karim Saddi said in a statement.
Patrick Verschelde said that TowerBrooks move will give
it a foothold in an expanding market. "They are keen to
capitalize on the existing strength of the business by
deploying capital and supporting the company in a market that
presents considerable growth opportunities," he said in a
Metallum could not be
reached for comment.
A spokesman for
TowerBrook, which owns a stake in Shale-Inland Holdings LLC,
said it was the companys first venture into the European