Metso Outotec has signed an agreement to sell its metal recycling business line, including the Lindemann brand, to Mimir, an investment company based in Stockholm, Sweden.
‘We are delighted that going forward, the metal recycling business will continue to implement its strategy together with the new owner Mimir,’ comments Metso Outotec’s senior vice president business development and metal recycling business Piia Karhu. ‘As an established standalone company, its full focus will be on the metal recycling markets and customers.’
According to Ioannis Giouvanitskas, vice president of Metso Outotec metal recycling, the divestment offers big opportunities for the future. ‘Mimir has the resources to quickly expand our leading market position and to be able to provide our products and services to a growing, global customer base.’
The sale to Mimir includes the brands Lindemann and Texas Shredder. The business will change name in conjunction with the divestment and operate globally under the Lindemann brand, with headquarters in Düsseldorf, Germany. Its 160 employees will transfer to the new company. Net sales of the recycling business was EUR 77 million in 2020.
Mimir is a global investment firm acquiring non-core business units of large corporations as well as private companies that need operationally oriented ownership. The Mimir group has operations in 20 countries.
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