Elemental Holding acquires Colt Recycling LLC

Elemental Holding Group, a global urban mining company headquartered in Luxembourg, has signed an agreement to acquire 100 percent of Colt Recycling LLC, an electronics recycler and information technology asset disposition (ITAD) provider headquartered in Hudson, New Hampshire. Elemental Holding also is acquiring the recycler’s Colt Recycling Southeast LLC operation, which operates a 100,000-square-foot facility in Hickory, North Carolina.

Elemental Holding says this is its first acquisition of an electronics recycler on the U.S. East Coast and its second U.S. acquisition in the quarter.

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Colt Recycling has facilities in Hudson and Hickory, which process a combined total of 80 million pounds of electronic scrap per year. Both facilities have ISO certifications as well as R2v3 certification, which is the latest release of the R2 (Responsible Recycling) Standard certification by Washington-based Sustainable Electronics Recycling International, more commonly known as SERI. The company specializes in recovery of precious metals, asset disposition services and resale for reusable equipment. Colt also operates Colt Refining in Merrimack, New Hampshire, which is a separate entity and not included in the acquisition.

According to a news release from Elemental Holding, the experience of Colt’s management team and employees as well as its market reputation and long-term relationships with suppliers and customers provide a strong basis for developing Elemental Holding Group in North America. Elemental says it has been building its position in the North American market in the recovery of platinum group metals, primarily from the recycling of spent catalytic converters. This acquisition expands its abilities to provide electronics recycling and ITAD services.

“This acquisition enables us to enter the e-waste recycling market in the U.S. and enter a very fast-growing ITAD segment,” says Paweł Jarski, CEO of Elemental Holding.

Elemental says the acquisition of Colt Recycling represents a continuation of strategic investment and geographic expansion for the company in the United States and North America region. Elemental recently acquired a majority position in Daniel Ball Converter Recycling, which is based in Johnson City, Tennessee. In previous years, Elemental acquired shares in PGM of Texas, Maryland Core and Legend Smelting and Recycling.

Elemental plans to expand its activities to include the collection and recycling of lithium-ion batteries, recovering metals such as lithium, nickel and cobalt. The company says its existing waste collection network of almost 30 locations covering a large part of the U.S. will allow for dynamic development of its expansion activities.