BGL Announces the Sale of Niles Iron & Metal Company to Charter Manufacturing

Brown Gibbons Lang & Company (BGL) is pleased to announce the sale of Niles Iron & Metal Company (Niles Iron), a leading regional scrap metal recycler, to Charter Manufacturing, a diversified metals manufacturer BGL's Metals & Advanced MetalsManufacturing investment banking team served as the exclusive financial advisor to Niles Iron in the transaction.

The transaction highlights BGL's experience advising businesses that operate in the ferrous and nonferrous scrap metal processing industry.

Founded in 1917, Niles Iron is strategically located to serve wide supplier bases and consumers throughout the Midwest and Northeast. The company has two locations in Niles, Ohio. One yard, situated on 52 acres, is devoted to the purchase, processing, storage, and transportation of all grades of iron and steel scrap. The second location is focused on non-ferrous metals, particularly aluminum.

Charter Manufacturing is a family-owned group of differentiated metals manufacturing businesses founded in 1936. Headquartered in Mequon, Wisconsin, the company employs more than 2,300 employees across its corporate location and businesses - Charter Aarrowcast/Charter Dura-Bar, Charter Steel, Charter Wire, and Niles Iron & Metal.

The deal is unique in today's modern age because it brings together two fourth-generation privately held companies. The new partnership will allow both companies to continue their family legacy while benefiting from existing synergies between Niles Iron and Charter Manufacturing.

BGL's Metals & Advanced Metals Manufacturing team has deep sector knowledge and extensive Metals M&A transaction experience within major subsectors of the broader metals industry. Coverage includes metals recycling, metal service centers, mills and foundries, and advanced metals manufacturing.