Contact Information: For Media Inquiries: David Gutierrez Dresner Corporate Services (312)780-7204 dgutierrez@dresnerco.com For Transaction Related Inquiries: Timothy Coleman Sr. Managing Director and Head of Investment Banking (312) 780-7209 tcoleman@dresnerco.com Vince Pappalardo Managing Director and Group Head - Metals (312)780-7227 vpappalardo@dresnerco.com Matt Phillips Senior Vice President (312)780-7244 mphillips@dresnerco.com
Dresner Partners Advises Mercer Company on Its Sale to Liberty Iron & Metal
| Source: Dresner Partners
CHICAGO, IL--(Marketwire - April 21, 2008) - Dresner Partners, a leading FINRA-registered,
middle-market investment bank, recently advised Mercer Company in its sale
to Liberty Iron & Metal Holdings and its German partner, Scholz AG. Terms
of the transaction, which closed earlier this year, were not disclosed.
Headquartered in Sharon, Penn., Mercer Company is a leading regional
processor and supplier of recycled ferrous and non-ferrous metals, serving
steel mills, foundries and scrap metal companies throughout Northeastern
Ohio and Western Pennsylvania, with a particular expertise in the
processing of stainless steel. Over the past 20+ years, Mercer has
developed strong and long-standing relationships with manufacturers and
other businesses in its marketplace and enjoys a consistent supply of
high-quality industrial scrap. The company, which handles nearly 300,000
gross tons annually, has built its success on a foundation of providing
high quality products, responsive service, and fair pricing to both
suppliers and customers.
Liberty Iron and Metal Holdings, based in Erie, Penn., together with its
German partner Scholz AG, viewed Mercer as highly complementary to its
existing operations and capabilities, allowing Liberty to continue to
expand its geographic presence within the region. With Mercer's two
locations in Sharon, Penn. and Girard, Ohio, Liberty now operates nine
locations across Pennsylvania, New York, Ohio and Arizona. Liberty's
partner, privately-held Scholz AG, based in Essingen, Germany, is one of
the largest global metal recyclers, operating over 500 scrap facilities
across Europe and Asia.
Mercer's co-founder Fred Knox said, "We are excited to be partnering with
Liberty -- whom we have known and done business with for many years -- and
Scholz on this transaction. We believe the strategic fit is a strong one,
and that together we will have a number of unique growth opportunities and
will be able to offer additional value to our customers and suppliers."
Vince Pappalardo, managing director and leader of Dresner Partners' Metals
Practice added, "We at Dresner were pleased to have helped bring together
two well-regarded and well-run metal recycling firms. Their combined
operations will be particularly well-positioned going forward to benefit
from the favorable growth trends within the global scrap marketplace."
About Dresner Partners
Dresner Partners is a FINRA-registered, middle-market investment bank based
in Chicago, Illinois. Founded in 1991, Dresner Partners provides financial
advisory services to business owners and managers throughout the United
States, including institutional private placements of debt and equity,
merger & acquisitions, and valuation and strategic consulting services. Its
affiliate company, Dresner Corporate Services, is a strategic
communications firm specializing in investor and public relations. More
information is available via the Internet at www.dresnerpartners.com.