Metals, Mergers & Acquisitions

Alter Trading buys Schneider’s Iron & Metal

Alter Trading Corp., headquartered in St. Louis, has purchased substantially all the assets of Schneider’s Iron & Metal Inc., headquartered in Kingsford, Michigan. The purchase expands Alter’s physical footprint into Michigan.

In 1948, Theodore “Ted” Schneider founded the company, which has four scrap processing facilities in Kingsford, Escanaba and Negaunee, Michigan; and in Marinette, Wisconsin. The Kingsford yard includes the company’s automobile shredding operation, which features a Metso 80x104 shredder that was installed in 2013, says Patrick Young, Alter regional director of operations for northern Wisconsin.

“The Schneider family has always run a great operation and has been a strong supporter of all local business in its communities, and we look forward to continuing in their footsteps and to expanding Alter’s presence in the Upper Peninsula,” says Michael Goldstein, senior vice president of operations for Alter.

Ron Schneider, president and co-owner of Schneider’s Iron & Metal, says, “After working for decades to build this business and maintain good family-supporting jobs for our community, we were committed to finding a buyer that would continue our tradition of integrity by valuing our employees and providing excellent customer service. We found that with Alter, a family-oriented company with a dedicated leadership and a business model that will continue this company’s success into the future.”

Alter says the Schneider yards will become part of the northern Wisconsin division of Alter, which is led by Young and his team based in Green Bay.

Ben Schneider has been managing the Kingsford yard, while Aaron Schneider has been managing the Escanaba facility, Young adds. Both men will continue to work in these capacities for Alter.

Bob Ellis, senior vice president and general counsel for Alter, says Schneider’s employed between 35 to 40 people, which Alter plans to retain.

The transaction closed May 31.

© Michail Petrov / stock.adobe.com

Padnos acquires Regal Recycling

Padnos, with headquarters in Holland, Michigan, has announced the acquisition of Regal Recycling, Howell, Michigan.

The Padnos-GLR partnership now has 26 locations throughout Michigan as a result of the acquisition.

Padnos President Jonathan Padnos says, “This move furthers regional consolidation and allows us to better serve our customers throughout Michigan. Padnos views Howell as a vibrant and growing community, and we want to be part of that growth.”

Vern Brockway had been the owner of Regal Recycling since 1993. At that time, the company operated a single location in Howell. In 2011, Regal opened its recycling center in Whitmore Lake, near Ann Arbor. The 4.5-acre facility includes a 10,000-square-foot warehouse, according to the company’s website.

The former Regal facilities offer ferrous and nonferrous metals recycling as well as auto parts salvage and electronics recycling.