Charter Manufacturing, a diversified metals manufacturer, has acquired Niles Iron & Metal Company (NIMCO), a scrap metal recycler located in Ohio.
The deal was facilitated by the investment bank Browns Gibbons Land & Company (BGL), which described this acquisition as a unique partnership between two fourth-generation, privately held companies. NIMCO operates two facilities in Ohio focused on processing both ferrous and non-ferrous metals.
This acquisition is expected to create synergies that will benefit both Charter and NIMCO in their operations.