Charter Steel Group To Purchase Ohio Scrap Metal Recycler

SEATTLE (Scrap Monster): Investment banking firm Brown Gibbons Lang & Co. (BGL) announced that Niles, Ohio-based leading scrap metal recycler, Niles Iron & Metal Co. (NIMCO) has been purchased by Charter Manufacturing, the parent company of Charter Steel.

BGL’s Metals & Advanced Metals Manufacturing investment banking team served as the financial advisor to the transaction.

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NIMCO is open to the general public at two locations. The company runs a ferrous and paper yard at 700, South Main Street and a non-ferrous scrap yard at 45, West Federal Street in Niles, Ohio. Both the locations are equipped with state-of-the-art scales. The company accepts metals including appliances, vehicles, machinery, plate, and beams and waste paper such as cardboard, newspaper, and office paper.

Founded in 1936, Charter Manufacturing is a family-owned group of differentiated metals manufacturing businesses. The company employs more than 2,300 employees across its various locations.

The deal brings together two fourth generation family-owned companies. The combination of both the companies will allow them to continue their family legacy, while benefiting from existing synergies.