Metso Outotec finds buyer for metal recycling technology business

Symbolic image: photo of lever arch file labelled "due diligence" lying on a desk
05.01.2022 − 

Finnish company Metso Outotec has agreed to sell its metal recycling business which includes the brands Lindemann and Texas Shredder to an affiliate of Swedish investment company Mimir. In a statement issued on 31 December, Metso said that the transaction was expected to be completed during the first half of this year. The parties had agreed not to divulge the value of the transaction.

"The business will change name in conjunction with the divestment and operate globally under the Lindemann brand, with headquarters in Düsseldorf, Germany," Metso Outotec announced. The metal recycling technology division generated net sales of €77m in 2020. Its staff of approximately 160 employees would transfer to the new owner in connection with the transaction, Metso explained.

"We are delighted that going forward, the metal recycling business will continue to implement its strategy together with the new owner Mimir. As an established standalone company, its full focus will be on the metal recycling markets and customers," said Piia Karhu, senior vice president, business development and metal recycling business line at Metso Outotec.

Joakim Notö, managing partner und group chairman of Mimir Invest, described the acquisition of the metal recycling business as a typical purchase for Mimir, "being carved out from a large corporation with leading technology and engineering expertise that positions it among the premium brands in its markets".

In October 2020, Metso Outotec announced plans to withdraw from the recycling technology market. The parent company justified the decision with the limited synergies which its recycling business had with its core minerals and metal ores processing technology operations. The company completed the sale of its non-metallic waste recycling business line to investment company Ahlström Capital in December of 2021. That business operates as M&J Recycling and is headquartered in Horsens, Denmark. 

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