Freedom Metals Acquires Bates Iron and Metal

Freedom Metals, a Louisville, Ky., scrap metal recycler, has announced the acquisition of Bates Iron and Metal, located in West Liberty, Ky. Gary Bates, former owner of Bates Iron and Metal, will join Freedom as general manager of the new facility.

Spencer Blue, Freedom’s vice president and COO, says, “Bates will enable us to reach out further in the eastern Kentucky area and continue the path of strategic growth within Kentucky.”

He adds that eastern Kentucky does not have a lot of full service scrap yard, which should allow the company to maximize its returns. Bates Iron services customers in a roughly 50-mile radius.

Bates Iron and Metal has been in operation since, 2010, and currently has a warehouse for nonferrous and a yard for ferrous metals. Because the Bates location is so small, Freedom expects to transition the newly acquired facility to a new location in West Liberty within the next six months. “We will be acquiring more land in West Liberty, and we will relocate the facility.” This should help the company increase the amount of scrap metal it is able to process.

“This isn’t one of those ‘mega mergers or acquisitions,’ but part of a synergistic strategy for growing our business in an ‘organic’ methodical way”, says Bruce Blue, founder of Freedom Metals.

“With Freedom Metals on board, we will be able to continue to grow in our little area of eastern Kentucky. The strength of Freedom will enable us to grow our retail business, while also developing our industrial, C&D and small dealer business,” says Bates.

Spencer Blue says that one step Freedom is doing is infusing the Bates location with capital to allow the company to add much-needed equipment to boost the processing ability. Some of the equipment includes a truck scale, grapples and magnets.

Freedom Metals presently has yards in four Kentucky cities: Louisville, Elizabethtown, Winchester and West Liberty.