Metso Outotec has signed an agreement to divest its Metal Recycling business line to an affiliate of Mimir. The closing of the transaction is expected to take place during H1 2022. The parties have decided not to disclose the value of the transaction. The divestment will not have a material impact on Metso Outotec’s financial results.
The Metal Recycling business sold to Mimir includes the brands Lindemann and Texas Shredder. The business will change its name in conjunction with the divestment and operate globally under the Lindemann brand, with headquarters in Düsseldorf, Germany. Its current approximately 160 employees will transfer to the new company in connection with the transaction. The net sales of the business totaled EUR 77M in 2020.
Mimir is a global investment firm acquiring non-core business units of large corporations as well as private companies that need operationally oriented ownership.