Audax Group announced it has completed a recapitalization of Thalheimer Brothers Inc. (“Thalheimer”). Headquartered in Philadelphia, Pennsylvania, Thalheimer is a non-ferrous scrap metal processor of brass, copper, nickel alloy, and stainless steel selling to foundries, refiners, and mills. Thalheimer processes mixed loads of alloyed and non-alloyed scrap to produce complex blends with specific chemical properties required by its customers.
*Geoffrey S. Rehnert, *Co-Chief Executive Officer, Audax Group, said “Thalheimer is a market leading recycler of non-ferrous scrap with an unparalleled reputation in the industry built over the last 70 years. We look forward to working with John Thalheimer and Rich Reiner to drive growth organically and by penetrating new geographies and metal categories.”
John Thalheimer, **Chairman of Thalheimer, said “We are excited to have Audax Group as our new partner in this next chapter of growth. While Rich and I will continue to run Thalheimer, we look forward to having a partner to help drive growth initiatives and to better serve our customers.”
Rich Reiner, CEO of Thalheimer, said “We look forward to working with the team from Audax to continue to make Thalheimer the best source for copper and nickel products.”
Kirkland & Ellis LLP served as counsel to Audax Group. Stout Risius Ross advised Audax. Wells Fargo Capital Finance, Audax Senior Debt, and LBC Capital provided financing to support the transaction.