Agmet sold to unnamed buyer

Agmet LLC, a specialty processor that recovers nickel, cobalt, copper and other metals from discarded electric vehicle (EV) batteries and industrial byproducts, has been sold to an undisclosed buyer.

Cleveland-based investment banking firm Brown Gibbons Lang & Co. (BGL) has made the announcement on behalf of Agmet, which also is based in the Cleveland area.

“In our search for the best metals investment banking team in the United States, BGL was the clear choice,” says Agmet founder Michael Agin. “They demonstrated their experience and knowledge in the metal recycling sector throughout the process, and we are very pleased with the outcome. Our new partnership will enable us to advance our goal of becoming a dominant player in the metal recycling world.”

Agmet says through its pyrometallurgical process it is able to produce a “low-cost, custom-formulated nickel raw material for nickel smelters.” The company takes in hazardous and non-hazardous byproducts including nickel filter cakes, catalysts, liquid solutions and EV battery scrap.

“Generators of industrial byproducts rely on Agmet to divert byproduct streams from landfills, thereby reducing material costs and environmental liability and improving public perception,” states BGL.