OmniSource buys Toledo Shredding LLC

Brown Gibbons Lang & Co. (BGL) has announced the sale of Toledo Shredding LLC, a subsidiary of Fairlawn, Ohio-based ProTrade Group, a fully integrated scrap metal company specializing in ferrous and nonferrous metals, to OmniSource LLC, the scrap processing division of Steel Dynamics Inc., based in Fort Wayne, Indiana.

BGL's Metals & Advanced Metals Manufacturing investment banking team based out of Chicago served as the exclusive financial advisor to Toledo Shredding in the transaction.

Founded in 2003, Toledo Shredding is a 30-acre scrap metal processing facility headquartered in Toledo, Ohio. Its key ferrous processing activities include shredding, torching and shearing. While Toledo Shredding does purchase, warehouse and sell some nonferrous metal grades, it operates a state-of-the-art Wendt-designed recovery system in a 30,000-square-foot production facility.

Founded in 1943, OmniSource’s operations are concentrated in the Midwest, the South and the Mid-Atlantic regions of the United States. The company ships more than 5 million gross tons of recycled steel and 1 billion pounds of nonferrous and stainless-steel scrap annually.

BGL says its Metals & Advanced Metals Manufacturing team has deep sector knowledge and extensive metals M&A transaction experience within major subsectors of the broader metals industry. Coverage includes metal service centers, mills and foundries, advanced metals manufacturing and metals recycling.