Private equity firm Endless has acquired Birmingham-based metal recycler Enablelink.
The investor said the deal would provide the reprocessor with extra cash to fund its growth.
Enablelink has more than 60 employees and deals with in excess of 300,000 tonnes of ferrous and non-ferrous material every year.
Founded in 2007, the recycling firm now boasts £100m turnover and sends recovered metal to customers across the UK and abroad.
It recently invested in new shredding and processing capabilities.
Enablelink operations director Josh Long, who will take over as managing director of the company following the retirement of Roy Millard, hailed the “fantastic news” of the takeover.
“While it is business as usual, we are excited by the opportunities new ownership will bring and we look forward to continuing our rapid growth and development both organically and through acquisition,” he said.
Endless investment director John Stevens added: “Through its strong relationships with suppliers and customers, Enablelink has demonstrated its importance to the UK green economy and the growing demand for recycled materials both in the UK and internationally.”
