Alter acquires Andersen’s Sales and Salvage

Alter Trading Corp., headquartered in St. Louis, has purchased substantially all the operating assets of Andersen’s Sales and Salvage Inc., headquartered in Greeley, Colorado, and its affiliates.

The purchase, which closed Aug. 2, adds the Greeley location, which is home to an automobile shredder, two other Colorado yards in Atwood and Windsor and a location in Cheyenne, Wyoming, expanding Alter's geographic reach. Alter now operates more than 75 facilities and 19 auto shredders.

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The acquisition plays a key role in Alter’s continuing plan to be the first-choice provider of raw material to the largest steel-producing regions in the U.S., according to Alter, which also notes the companies share similar cultures.

“This acquisition is the next important milestone in our growth strategy, and we are pleased to add another premier, family-owned, metal recycler to Alter,” Alter Chairman Robert Goldstein says. “We are committed to the seamless integration of our two companies, and we look forward to joining the business communities in Colorado and Wyoming.”

Alter intends to continue operating all three of Andersen’s existing locations, emulating its focus on safety, customer service and quality.

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“The Andersen family will be a tough act to follow," Alter President and CEO Jack Grundfest says. "The company and its current leadership team, led by Dean Andersen and his daughter, Sarah Willcutts, are held in high regard in the industry and have built a remarkable company. We are excited that Dean and Sarah will remain with Alter. It is a privilege to have an opportunity to work closely with this team. I look forward to welcoming them to Alter, and together extending the pattern of success.”

“We knew that someday we would take advantage of the right opportunity to exit ownership of our business and to pursue our individual passions,” Andersen adds. “The officers of the two companies have known each other for many years. We are very excited to place our business and history in the Colorado and Wyoming communities in the hands of our friends at Alter Trading and are comfortable knowing that Alter, like Andersen’s, will support the communities that have enabled our family business to flourish.”

Acquisitions have played a significant role in Alter’s growth strategy.

From 1998 through February 2019, the company added 55 locations, primarily by purchasing existing family-owned scrap companies. Since early 2019, Alter has continued to expand using this strategy, adding yards previously owned by Schneider’s Iron & Metal Inc., headquartered in Kingsford, Michigan, and consolidating yards it purchased from A. Miller & Co. and Allied Iron & Steel of Peoria, Illinois, which were owned by the same parent company, into its existing sites in the city.

In February, Alter purchased the operating assets of Martin Bros. Recycling, based in Mississippi, adding an automobile shredding and nonferrous processing facility in Sardis and three full-service recycling centers in Clarksdale, Byhalia and Nesbit.