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Sims Metal Acquires Baltimore Scrap Corp

Aug 15, 2023•over 2 years ago

Acquiring Company

Sims Metal

Acquired Company

Baltimore Scrap

Precious MetalsManufacturing

Description

Sims Metal, a global leader in metal recycling, today announced the company has agreed to acquire the assets of United States-based metal recycler, Baltimore Scrap Corp (BSC) and its affiliated entities. The acquisition is anticipated to close in October 2023 subject to the satisfaction, or waiver, of customary closing conditions, including required regulatory approvals.

Company Information

Company

Sims Metal

About

Founded in Sydney, in 1917, Sims Metal, has grown from being an Australian-centric company to one of the most significant metal recycling companies in the world. A division of Sims Limited, Sims Metal has bases of operation in Australia, the United Kingdom and the United States where the company buys and processes recyclable ferrous and non-ferrous metal and sells the recycled material to manufacturers in 30 countries. Each year, Sims Metal recycles approximately 10 million tons of metal across its global operations. In line with their shared purpose, create a world without waste to preserve our planet, Sims Metal is preparing for, and adapting to, the significant industrial and environmental changes in society and the industry. Visit www.simsmm.com to learn more. SOURCE Sims Metal

M&A Insights

Based on deal data
Integration timeline
70% of M&A integrations take 12-24 months to complete
Tech stack consolidation
83% of merged companies consolidate technology vendors within first year
Post-acquisition investment
Companies increase IT spending by 23% on average after acquisitions
Success factor
M&A deals with strong technology integration plans are 2.5x more likely to succeed