Triple M acquires Ontario scrap firm

Brampton, Ontario, Canada-based Triple M Metal JP has announced the acquisition of Peterborough Iron & Metal (PIM), which operates scrap facilities in Peterborough, Port Hope and Minden, Ontario, in the eastern part of the province.

“We are excited to bring PIM under the Triple M Metal LP umbrella and leverage our international reach with PIM’s local presence,” states Triple M President Oscar Moniz in a company website posting. “For the time being, the yards will continue to run under their current names,” he adds.

Moniz also credits Mark Dickomeit, who has been a partner and owner/operator of PIM for the previous 10 years, for having “grown PIM to be a significant player in Eastern Ontario.” Moniz adds, “We are excited to have Mark and his dedicated team join our growing organization.”

Moniz says, “This addition reflects our organization’s commitment to maintaining our position as Ontario’s premier metals recycler. With a strong customer base and strategically located yards, the PIM acquisition is in line with our short-term and long-term sustainability goals. The additional feeder yards and processing sites further strengthen our presence in Ontario and help to solidify our place as Ontario’s largest scrap metal processor.”

Moniz says that during the previous four decades, Triple M “has evolved into one of the largest independent scrap companies in North America.” Including the new PIM sites, Triple M now operates 19 sites in Ontario and 31 in North America.

Triple M’s sister company Matalco is a multilocation consumer of aluminum scrap, producing billet in several melt shop locations in the United States and Canada.