Sibanye-Stillwater, a leading precious metals miner, has announced its acquisition of Reldan, a U.S. metals recycler, for an enterprise value of $211.5 million. The cash purchase consideration payable for this transaction amounts to $155.4 million.
Expanding Global Presence and Embracing the Circular Economy
This strategic acquisition will further enhance Sibanye-Stillwater's presence in the circular economy while complementing its existing U.S. platinum group metals recycling business in Montana. Additionally, the company sees it as a solid foundation for future expansion opportunities on a global scale.
Reldan's Expertise in Green Precious Metal Recycling
Reldan, a Pennsylvania-based recycling group, specializes in re-processing various waste streams, including industrial waste and electronic waste, primarily for the purpose of recycling green precious metals. With established operations in the United States, Mexico, and India, Reldan has positioned itself as a key player in this sector.
Impressive Financial Performance
In 2022, Reldan achieved impressive financial results, generating $371 million in revenue and $28 million in free cash flow. These figures underscore the company's strong market position and growth potential, which undoubtedly contributed to Sibanye-Stillwater's decision to pursue this acquisition.
Anticipated Timeline and Shareholder Approval
Subject to approval from shareholders, this transaction is expected to close during the first quarter of next year. Sibanye-Stillwater is confident in the potential of this acquisition, which aligns with its strategic growth objectives.
To learn more about this acquisition or to get in touch with Sibanye-Stillwater, please visit their official website.