New partnership brings together two
family-owned companies with a combined 200+ years of experience in
the metals industry
CHICAGO, July 30,
2024 /PRNewswire/ -- Brown Gibbons Lang & Company
(BGL) is pleased to announce the sale of Niles Iron & Metal
Company (Niles Iron), a leading regional scrap metal recycler, to
Charter Manufacturing, a diversified metals manufacturer. BGL's
Metals & Advanced Metals Manufacturing investment banking
team served as the exclusive financial advisor to Niles Iron
in the transaction.
The partnership brings together two
family-owned companies with a combined 200+ years of experience in
the metals sector.
The transaction highlights BGL's experience advising businesses
that operate in the ferrous and nonferrous scrap metal processing
industry.
Founded in 1917, Niles Iron is strategically located to serve
wide supplier bases and consumers throughout the Midwest and
Northeast. The company has two locations in Niles, Ohio. One yard, situated on 52 acres,
is devoted to the purchase, processing, storage, and transportation
of all grades of iron and steel scrap. The second location is
focused on non-ferrous metals, particularly aluminum.
Charter Manufacturing is a family-owned group of
differentiated metals manufacturing businesses founded in 1936.
Headquartered in Mequon,
Wisconsin, the company employs more than 2,300 employees
across its corporate location and businesses – Charter
Aarrowcast/Charter Dura-Bar, Charter Steel, Charter Wire, and Niles
Iron & Metal.
The deal is unique in today's modern age because it brings
together two fourth-generation privately held companies. The new
partnership will allow both companies to continue their family
legacy while benefiting from existing synergies between Niles Iron
and Charter Manufacturing.
BGL's 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 metals recycling, metal service centers, mills
and foundries, and advanced metals manufacturing.
###
About Brown Gibbons Lang & Company
Brown Gibbons
Lang & Company (BGL) is a leading independent investment bank
and financial advisory firm focused on the global middle market.
The firm advises private and public corporations and private equity
groups on mergers and acquisitions, capital
markets, financial restructurings, business valuations
and opinions, and other strategic matters. BGL has
investment banking offices in Chicago, Cleveland, Los
Angeles, and New York, and
real estate offices in Chicago,
Cleveland, and San Antonio. The firm is also a founding
member of REACH Cross-Border Mergers & Acquisitions, enabling
BGL to service clients in more than 30 countries around the world.
Securities transactions are conducted through Brown, Gibbons, Lang
& Company Securities, LLC, an affiliate of Brown Gibbons Lang
& Company LLC and a registered broker-dealer and member of
FINRA and SIPC. For more information, please visit
www.bglco.com.
Metals contact:
Vincent J.
Pappalardo
Managing Director
Metals & Advanced
Metals
Manufacturing
vpappalardo@bglco.com
312.658.4772
Hubert De La
Vauvre
Director
Metals &
Advanced Metals Manufacturing
hdelavauvre@bglco.com
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SOURCE Brown Gibbons Lang & Company