Langer Industrial Service LLC, a scrap metal recycler in Scottsbluff, Nebraska, has announced that it received a $1.9 million investment from Stonehenge Capital, a private equity firm with several locations throughout the U.S., through its Nebraska Small Business Loan Fund. This investment allows the family-owned scrap metal recycler to grow its headquarters in Scottsbluff, according to a news release from Langer.
Langer processes iron-based metals, aluminums, copper and zinc for industrial clients. The company collects scrap from farm equipment, shipping containers, demolitions and metal shearing and then processes and separates the metals.
“Scrap metal recycling has been our family business for generations,” says Pete Langer, owner and manager of Langer. “Our partnership with Stonehenge will help our business continue to serve Nebraska and our community.”
The capital provided by Stonehenge Capital through the Nebraska New Markets Tax Credit program ill allow Langer to expand its headquarters in Scottsbluff as well as add 10 jobs to the community, Langer reports in a news release.
“Langer is a promising asset to the Scottsbluff area, and our investment serves to build up jobs,” says L’Quentus Thomas of Stonehenge Capital.