Remondis-TSR acquires Sims assets in Europe

The TSR Recycling subsidiary of Germany-based Remondis Group has acquired several electronics recycling operations in Europe from the Australia-based Sims Group.

An announcement from Sweden-based law firm Hammarskiöld says it advised TSR Recycling and Remondis in its €83.5 million ($90.1 million) acquisition “of the European operations of Sims Metal Management Ltd., which [are] specializing in electronic scrap recycling.”

According to Hammarskiöld, the acquisition includes Sims operations in Germany, Austria, Belgium, the Netherlands and Sweden.

An April 1 news release from Sims refers to the transaction as the “finalized sale of European compliance scheme operations.” The company says “the cash has been received” in the transaction, which became effective Sept. 30, 2019.

“The sale does not comprise any assets that are part of the Sims Lifecycle Services business, which includes the reuse, redeployment and recycling of cloud infrastructure,” according to Sims.

States Alistair Field, CEO and managing director of Sims Group, “We concluded that the European compliance scheme operations were not core to us executing our strategy of being the leader in the reuse, redeployment and recycling of cloud infrastructure. Sims Lifecycle Services will focus on its strategy of recycling the cloud and it has the full financial and operating backing of the wider Sims group. Sims provides cloud service operators with a unique proposition to sustainably, securely and safely, reuse, re-deploy and recycle the large volume of data center material that must be removed every year during ongoing technology refresh cycles.”

Hammarskiöld describes TSR Recycling, founded in 1890, as a large Germany-based metal recycling group with 150 business locations in Europe.