Michael and his team advised on the sale of Encore Recycling LLC (“Encore” or “the Company”) to Schnitzer Steel Industries, Inc. (NASDAQ: SCHN) (“Schnitzer”). The acquisition encompassed two full-service recycling facilities, including a metal-shredding operation and a recycled auto-parts center
Founded in 2013 by the Blase brothers following a successful exit from their first company, Encore has a well-established customer-focused business that purchases and processes end-of-life vehicles, appliances, and additional ferrous and nonferrous materials from local recycling companies as well as industrial, commercial, and individual customers. The Company sells its recycled products to steel mills and foundries throughout the Southeast, the fastest-growing steel and industrial manufacturing region in the country.
Schnitzer’s acquisition of Encore’s assets follows the 2021 purchase of eight recycling facilities from Columbus Recycling and expands the Company’s Southeastern regional footprint to 24 recycling facilities across Alabama, Georgia, Kentucky, Mississippi, and Tennessee. The integration of the Encore assets into the Schnitzer operating model will broaden the product and service offerings to customers and suppliers across the Southeast.
Note: This work was performed prior to joining Stout.