Pictured: Chris Reed, corporate partner at Gateley,
Birmingham
A Midlands based carbon recycling business, Recycled Carbon
Fibre Ltd (RCF) has been bought by German owned ELG, global leader
in the trading and processing of raw materials for the stainless
steel industry. ELG has acquired 100 per cent of the shares in a
deal led by the corporate team in the Birmingham office of national
law firm, Gateley.
In 2009 RCF Ltd set up its Coseley based facility for the
reclamation of carbon-fibre on a commercial scale and became the
market pioneer. Manufacturers of carbon composites typically
produce scrap levels of up to 40 per cent and the traditional
solution is to use land-fill or waste incineration. RCF Ltd was the
first company of its kind to recycle carbon fibre reinforced
plastics, providing a means for the safe and environmentally
friendly disposal of this type of waste.
The company will now operate as ELG Carbon Fibre Ltd. supervised
by current managing director, Stephen Line and in co-operation with
the RCF management team.
The acquisition was led by Chris Reed, corporate partner for
Gateley in Birmingham, who said: "The composite materials and
carbon recycling sector is an emerging market driven not just by
financials but also the demand for manufacturers to have
increasingly green manufacturing processes and products in
place.
"The acquisition of this young recycling company will open up
further growth opportunities for ELG in this important area. We
have been advising the company since its incorporation and were
pleased to be involved in securing the next stage of the business's
development."
Stephen Line, managing director added: "This was an important
move for RCF Ltd in developing the pioneering business model that
we have built and will enable us to expand into global markets
where the need to recycle is equally pressing. The commercial
approach and speed of response by the Gateley team was first class
and ensured the deal ran smoothly at every step of the
process."
HLW in Sheffield were the legal advisors for ELG.
For more information about Gateley, please visit their website
here: www.gateleyuk.com