Focus
Aurubis AG acquires Belgian-Spanish Metallo Group for a purchase price of € 380 million
Aurubis AG signed a share purchase agreement for the acquisition of the Belgian-Spanish Metallo Group to continue actively pursuing its recycling strategy. Metallo Holdings is owned by funds managed by TowerBrook Capital Partners, a leading transatlantic investment firm. Metallo is a recycling and refining company that specializes in recovering non-ferrous metals from recycling materials with lower metal contents. The company has around 530 employees at locations in Belgium and Spain. In fiscal year 2018, Metallo generated revenues of approximately € 1 billion. The share purchase agreement stipulates a purchase price of € 380 million, which will be financed without a capital increase.
The acquisition of Metallo, with its attractive growth potential, strengthens Aurubis’ metal portfolio, especially in the key metals copper, nickel, tin, zinc, and lead. The Metallo Group complements the investment project Future Complex Metallurgy (FCM), with which Aurubis will process a higher volume of complex input materials.
Metallo's "zero-waste" business model aims to process all materials used into valuable and marketable products and thus make an important contribution to the recycling economy. This increases Aurubis' contribution to sustainability.
Metallo Belgium, based in Beerse, was founded in 1919. Already in the 1960s, the company developed processes to recycle copper, tin, and lead from more complex raw materials with low metal contents and fostered innovation to invest in 2/2 sustainable technologies to strengthen its zero-waste strategy. Metallo Spain, formerly called Elmet, was founded in Berango (in the province of Biscay) in 1991.
Further information at www.aurubis.com
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