SRT Investments LLC, an investment group headed by the former CEO of Wabash Alloys LLC, has acquired the assets of G&S Metal Consultants Inc., a provider of recycling services and recycled aluminum products.
G&S, based in Wabash, Ind., filed for bankruptcy protection in September. A bankruptcy judge approved the sale of the company in September. As part of a larger deal, sister company G&S Transportation Inc. was acquired by SRT Transportation LLC while G&S assets in Manchester, Ga., were excluded from the transaction, according to a press release from SRT.
Bruce Warshauer, former president and CEO of Wabash Alloys; Walk Fuller, owner of M&S Steel of Garrett, Ind.; Chris Elbrecht, owner of Elbrecht Concrete of Nobelsville, Ind.; and Fort Wayne, Ind.-based businessman Jerry Henry formed SRT Investments and SRT Transportation.
“G&S has an excellent reputation in the aluminum industry,” says Warshauer, who will serve as the new company’s CEO. “It provides and outstanding value proposition by using its state-of-the-art melting process and technology to maximize yields on customer-owned scrap materials at competitive prices.”
Also serving on the new G&S executive team are R. Scott Galley, former CEO of G&S Metal Consultants, who will serve as president and COO of the new company; Joe Rosengarten, previously vice president of raw material for Wabash Alloys, who will serve as vice president, commercial. Pat Bowden continues to serve as G&S Metal Consultants’ vice president of sales, while Sharon Blackwell has joined the company as CFO.
The new company currently employs 20 people, down for a peak of 157 employees; however SRT says it is optimistic about the company’s potential for growth.
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