Sponsored By

Signature Buys Aluminum Recycler Global Recycling from AlerisSignature Buys Aluminum Recycler Global Recycling from Aleris

Allan Gerlat

October 20, 2014

1 Min Read
Signature Buys Aluminum Recycler Global Recycling from Aleris

Signature Group Holdings Inc. has purchased Global Recycling and Specification (GRSA) Alloys from Aleris Corp. for $525 million.

Sherman Oaks, Calif.-based Signature said the Cleveland-based GRSA is the largest independent aluminum recycler in the world and positioned to take advantage of the improving fundamentals affecting the global aluminum markets. The purchase by the investment firm is Signature’s first in the aluminum market, according to a news release.

"GRSA is the low-cost producer and clear market leader on two continents, with strong growth prospects and a sustainable competitive advantage,” said Craig Bouchard, Signature chairman and CEO.

Signature plans to appoint Terry Hogan, currently senior vice president and leader of Aleris' Recycling and Specification Alloys business in North America, as president of the GRSA business when the deal closes. The firm anticipates Russell Barr, vice president and leader of Aleris' recycling business in Europe, to serve as executive vice president, Europe.  

GRSA is a global firm that converts aluminum scrap and dross into usable metal and specification alloys in molten, ingot and other forms. About 65 percent of GRSA’s business occurs in North America, with the remainder in Europe.

Cleveland-based Aleris said that for the 12-monoth period ended June 30 GRSA had adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) of $74.9 million. It accounted for about 30 percent of Aleris’ revenue of $1.5 billion.

In 2013 the business shipped 1.2 million metric tons of recycled aluminum. It employs about 1,600 at 24 facilities in North America and Europe.

About the Author(s)

Allan Gerlat

News Editor, Waste360

Allan Gerlat joined the Waste360 staff in September 2011 as news editor. He was the editor of Waste & Recycling News for the first 16 years of its history, and under his guidance the publication won 27 national and regional awards.

Before Waste & Recycling News, Allan worked at another Crain Communications publication, Rubber & Plastics News, which covers rubber product manufacturing. He began with the publication as associate editor and eventually became managing editor, a position he held for nine years.

Allan is a graduate of Ohio University, where he earned a BS in journalism. He is based in Sagamore Hills, in northeast Ohio.

Stay in the Know - Subscribe to Our Newsletters
Join a network of more than 90,000 waste and recycling industry professionals. Get the latest news and insights straight to your inbox. Free.