Dresner Partners Advises Mercer Company on its Sale to Liberty Iron & Metal
|Tuesday, April 22, 2008|
CHICAGO – April 21, 2008 – Dresner Partners, a leading FINRA-registered, middle-market investment bank, recently advised Mercer Company in its sale to Liberty Iron & Metal Holdings and its German partner, Scholz AG. Terms of the transaction, which closed earlier this year, were not disclosed.
Headquartered in Sharon, Penn., Mercer Company is a leading regional processor and supplier of recycled ferrous and non-ferrous metals, serving steel mills, foundries and scrap metal companies throughout Northeastern Ohio and Western Pennsylvania, with a particular expertise in the processing of stainless steel. Over the past 20+ years, Mercer has developed strong and long-standing relationships with manufacturers and other businesses in its marketplace and enjoys a consistent supply of high-quality industrial scrap. The company, which handles nearly 300,000 gross tons annually, has built its success on a foundation of providing high quality products, responsive service, and fair pricing to both suppliers and customers.
Liberty Iron and Metal Holdings, based in Erie, Penn., together with its German partner Scholz AG, viewed Mercer as highly complementary to its existing operations and capabilities, allowing Liberty to continue to expand its geographic presence within the region. With Mercer’s two locations in Sharon, Penn. and Girard, Ohio, Liberty now operates nine locations across Pennsylvania, New York, Ohio and Arizona. Liberty’s partner, privately-held Scholz AG, based in Essingen, Germany, is one of the largest global metal recyclers, operating over 500 scrap facilities across Europe and Asia.
Mercer’s co-founder Fred Knox said, “We are excited to be partnering with Liberty -- whom we have known and done business with for many years -- and Scholz on this transaction. We believe the strategic fit is a strong one, and that together we will have a number of unique growth opportunities and will be able to offer additional value to our customers and suppliers.”
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