Liberty Iron & Metal Holdings, a scrap metal processor and broker, has successfully closed on a new $50 million financing agreement with KeyBank and affiliates that point to further acquisitions of metal processing sites in the US. According to a company press release, the credit lines will be used to optimize Liberty’s capital structure, finance working capital, capital expenditure needs, and to fund future strategic acquisitions. CFO Alexander Esser noted that “Liberty is committed to continuing its organic and inorganic expansion within its core markets,” which points to further acquisition efforts along with technology investments at current sites.
Liberty Iron & Metal Co., Inc. was founded in 1932 and operates as a subsidiary of Scholz AG. Liberty Iron & Metal holding has operations in the Northeast US, Southwest US, and in Mexico under various names. The Northeast has sites in New York, Ohio and Pennsylvania. The Southwest region includes its international trading arm in California and Arizona site. To service the Mexican scrap trading needs, it operates the Kalischatarra trading groups and yards in Texas, New Mexico and North Mexico.