LockeBridge Capital Partners, a Boston area investment bank focused on mergers, acquisitions, divestitures, valuations and capital raises, announced today that it has acted as the exclusive financial advisor to Middleboro Recycling, Inc. (“Middleboro”) on its sale to Spiegel, South Shore Scap Metal, Inc., (“Spiegel”).

Located outside of Boston, for over 40 years Middleboro has been a leading metal recycler in the area, processing thousands of tons of recyclable ferrous and non-ferrous metals annually.  The Purchaser, Spiegel South Shore Scarp Metal, Inc., was the beneficiary of multiple synergies including the expansion of its geographic footprint as well as the addition of processing capabilities.

Anthony Pusateri, Spiegel CFO, commented, “We bought Middleboro Recycling for a number of reasons but the primary one being that it has a long history of success and good reputation.  It has been open since the 1940s and is not a third-generation company.  They have a great customer base and a pristine 14-acre facility”.

Scott Hansen, LockeBridge Managing Director, stated, “LockeBridge has represented numerous metal trading, recycling and fabrication companies globally, ranging in size from high single digit $millions to almost one $billion.  We believe that a thorough understanding of industry specific issues such as inventory valuation, trading and hedging strategies and processing technologies is critical in evaluating and representing businesses operating in the metal markets.  Based upon our knowledge of the two companies we believe that the operational synergies will result in a winning combination.”