Metso Outotec has signed an agreement to divest its Metal Recycling business line to an affiliate of Mimir, an investment company based in Stockholm, Sweden. The closing of the transaction is expected to take place during the first half of 2022.
The Metal Recycling business sold to Mimir includes the brands Lindemann and Texas Shredder. The business will change name in conjunction with the divestment and operate globally under the Lindemann brand, with headquarters in Düsseldorf, Germany. Its current approximately 160 employees will transfer to the new company in connection with the transaction. The net sales of the business totalled €77 million in 2020.
Metso Outotec announced in October 2020 that it intended to divest its recycling businesses. The divestment of the Waste Recycling business has already been completed. “As an established standalone company, its full focus will be on the metal recycling markets and customers,” commented Piia Karhu, Senior Vice President, Business Development and Metal Recycling business line at Metso Outotec.
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