Sims acquires IT service provider ergoTrade from bmp as part of Sims’ buy & build strategy
bmp AG has sold its 49.99% stake in ergoTrade AG located near Munich as part of a 100% acquisition by Sims Group German Holdings GmbH, a subsidiary of Sims Metal Management Ltd. Sims Metal Management is a worldwide leading recycler of iron and steel scrap and its division Sims Recycling Solutions is one of the largest recyclers of electrical and electronic waste. With this acquisition, Sims is expanding its activities to asset management while enforcing its position in Germany and entering the Hungarian market.
Scott-Macon ‘s German partner EquityGate advised the private equity investor bmp on the sale of ergoTrade to Sims. In 2009, EquityGate had already advised on the sale of Technorecycle to the Sims Group in the course of Sims’ buy & build strategy. For additional information, please contact Mr. Ervin Schellenberg, Managing Partner at EquityGate (+49-611-20548-15, ) or Fabian Hassel, Managing Director and Group Head at Scott-Macon (+1-212-755-8200, ).
Scott-Macon, founded in 1973, has developed into one of the leading independent U.S. investment banks serving the middle-market (transaction volumes of $10 million to $500 million). Scott-Macon offers M&A advisory services as well as private placements of debt and equity to its client base. Scott-Macon believes in a focused industry sector approach and is organized along well established industry coverage groups serving the following sectors: Automotive / Industrials, Alternative Energy / Clean Tech, Chemicals, Healthcare, and Media / Information. Scott-Macon’s professionals have successfully completed more than 700 M&A and financing transactions over the past 38 years.
About EquityGate Advisors
EquityGate is a leading Investment Banking Partnership headquartered in Germany with presence across Europe, Asia, North and South America. EquityGate’s advisory services encompass the complete spectrum of equity and senior debt financing as well as M&A. EquityGate draws on the experience of its seasoned investment bankers with established credentials and transactional experience in all key corporate finance segments. Over the last three years, EquityGate has successfully advised on transactions with a total value of 6bn Euros. EquityGate has been awarded multiple times for its outstanding advisory services by professional institutes and industry experts. For example: “European Boutique Investment Bank of the year 2010” and “European Financing Restructuring Advisor of the year 2010” at the M&A Advisor International Awards, and “2009 Equity Financing Deal of the Year Europe” at the Global M&A Advisor Awards. Furthermore, in 2009 it was named as one of the Top 10 Debt Advisors by FINANCE magazine. The company cooperates closely with the European Business Schools’ Institute for Finance Research.