BGL Announces the Sale of Niles Iron & Metal Company to Charter Manufacturing
Ohio Pen/10269428

CHICAGO, July 30, 2024 ~ In a recent transaction, Niles Iron & Metal Company (Niles Iron), a prominent scrap metal recycler in the region, has been acquired by Charter Manufacturing, a diversified metals manufacturer. The sale was facilitated by Brown Gibbons Lang & Company (BGL), with their Metals & Advanced Metals Manufacturing investment banking team serving as the exclusive financial advisor to Niles Iron.

Niles Iron, founded in 1917, has established itself as a key player in the Midwest and Northeast regions due to its strategic location and wide supplier base. With two locations in Niles, Ohio, the company specializes in processing and transporting all grades of iron and steel scrap at one yard, while the other focuses on non-ferrous metals such as aluminum.

On the other hand, Charter Manufacturing is a family-owned group of differentiated metals manufacturing businesses that has been operating since 1936. Headquartered in Mequon, Wisconsin, the company employs over 2,300 individuals across its corporate location and businesses - Charter Aarrowcast/Charter Dura-Bar, Charter Steel, Charter Wire, and now Niles Iron & Metal.

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What makes this deal unique is that it brings together two fourth-generation privately held companies. This partnership will not only allow both companies to continue their family legacy but also benefit from existing synergies between Niles Iron and Charter Manufacturing.

BGL's Metals & Advanced Metals Manufacturing team played a crucial role in this transaction with their deep sector knowledge and extensive experience in Metals M&A transactions within major subsectors of the broader metals industry. Their coverage includes metals recycling, metal service centers, mills and foundries, and advanced metals manufacturing.

This acquisition further highlights BGL's expertise in advising businesses operating in the ferrous and nonferrous scrap metal processing industry. With over 200 years of combined experience between Niles Iron and Charter Manufacturing, this partnership is expected to bring significant growth opportunities for both companies.

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