US metals recycler Alter Trading has agreed to buy Arkansas-based Tenenbaum Recycling Group (TRG).
Alter will acquire TRG's nine Arkansas locations, including two shredders located in North Little Rock and Rogers, as well as a facility in Reeds Spring, Missouri.
The transaction is expected to close around 24 August. Terms of the deal were not disclosed.
"This acquisition is the next important milestone in our growth strategy, and we are pleased to add another premier, family-owned scrap metal recycler to Alter," Alter chairman Robert Goldstein said.
The acquisition expands St Louis-based Alter's footprint farther south and closer to the cluster of steel mills operating around northeastern Arkansas. After the purchase, Alter will operate more than 70 ferrous and non-ferrous processing facilities, with most located across the midwest.
In addition to the TRG locations, Alter's southern footprint consists of a processing yard and shredder in Mobile, Alabama, and yard in Hattiesburg, Mississippi.
