Venture Metals Expands Footprint by Acquiring Indianapolis Metal Recycler

SEATTLE (Scrap Monster): New York-based Mill Rock Capital Management LP announced that it has made strategic investment in Venture Metals, LLC and SI Metallics, LLC through its affiliates. Further to the investment, Venture has acquired Indianapolis-based nonferrous scrap metal processor Versatile Processing Group Inc. The transaction combines two leading U.S. metal recyclers, whose combined annual revenues are estimated to exceed $700 million. Further terms of the deal were not disclosed.

The combined entity will operate six processing facilities- two in Dallas, TX and one each in Des Plaines, IL; Houston, TX; Nabb, IN; and Wills Point, TX. It will be led by Mike Uhrick, CEO and Mark Chazanow, President of Venture Metals, LLC and SI Metallics, LLC. In addition, Sharma Rao, a Senior Principal of Mill Rock, will join the company in the role of Executive Vice President of Business Development. Also, five top officials from Mill Rock have already joined the Board of Directors.

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The combined platform offers tremendous growth opportunities. The robust infrastructure facilities and enhanced capabilities will help the combined entity to offer better services to its existing and new customers, across a fuller range of metals. The new entity aims to make use of advanced technologies to transform metal into reusable resources, so as to establish itself as industry’s leading provider of metal recycling solutions.