Brown Gibbons Lang & Company (“BGL”) is pleased to announce the sale of Goodman Services, Inc. (“Goodman” or the “Company”) to Metalico, Inc. (“Metalico”).
Goodman, headquartered in Bradford, Pennsylvania, is a leading full service recycling company in the northwestern Pennsylvania and southwestern New York regions. The Company is viewed by many of the region’s industrial businesses as the “recycler of choice” due to its broad processing capabilities and commitment to customer service. On-site rail access and close proximity to major U.S. interstate highways provide Goodman the ability to efficiently transport recycled material throughout the midwestern, eastern, and southern regions of the U.S. In addition to scrap metal recycling, Goodman provides offsite material handling and packaging services via its Canton, Ohio facility.
Mike Goodman, Goodman’s President, commented “The Goodman family is very pleased to be transitioning our 66 year old legacy into the very capable hands of Carlos Agüero and his team at Metalico. We truly appreciate BGL’s understanding of our market and guidance through this process, each of which were instrumental in completing this transaction.”
Metalico has operations in two principal business segments: ferrous and non-ferrous scrap metal recycling, and fabrication of lead-based products. Including the effect of the Goodman transaction, Metalico operates twenty-six scrap metal recycling facilities in New York, Pennsylvania, Ohio, West Virginia, New Jersey, Texas, and Mississippi. Commenting on the transaction, Metalico’s President and Chief Executive Officer Carlos Agüero said, “We welcome Goodman Services to the Metalico group of companies and we are pleased to have the Goodman family remain on board to continue managing and growing the company well into the future.”
“BGL is very pleased to have helped the shareholders of Goodman achieve their objectives and position the company for continued growth,” explained Effram Kaplan, Director and Principal in BGL’s Cleveland office. “Given the highly complementary operations of Goodman and Metalico, we believe this transaction represents a terrific outcome for everyone involved.”
For more information, please contact Effram Kaplan or Scott Berlin at (216) 241-2800.