Elemental Holding Group has signed an agreement to acquire 100% of Colt Recycling, LLC and Colt Recycling Southeast, LLC, a leading US e-waste recycler and IT asset disposition (ITAD) group operating on the East Coast. This is the first acquisition by Elemental on the US market in the e-waste and ITAD sector, and the second US transaction this quarter.
Colt Recycling, LLC, a separate and distinct company from Colt Refining, Inc., is headquartered in New Hampshire and has a second recycling facility in North Carolina. The R2v3 and ISO certified facilities process a combined 80 million pounds of electronics per year, specializing in recovery of precious metals, asset disposition services, and resale for reusable equipment. The experience of the management and employees of Colt Recycling, reliable market reputation, and long-term relationships with suppliers and customers provide a strong basis for further development of Elemental Holding Group in the North American region.
Elemental has been consequently building its leading position on the North American market in the recovery of platinum group metals, primarily from the recycling of spent catalytic converters. This acquisition expands its activities in the area of e-waste recycling and enters the segment of IT asset disposition (ITAD).
“This acquisition enables us to enter the e-waste recycling market in the US and enter a very fast-growing ITAD segment. With this acquisition, we are expanding our geographic presence in the e-waste segment to the North American market,” comments Paweł Jarski, CEO of Elemental Holding.
The acquisition of Colt Recycling represents a continuation of strategic investment and geographic expansion for Elemental in the United States and North America region. Recently Elemental successfully acquired a majority position in Daniel Ball Converter Recycling. In previous years, Elemental acquired shares in PGM of Texas (2019), Maryland Core (2021) and Legend Smelting and Recycling (2021).
Additionally, Elemental plans to expand its activities to include the collection and recycling of lithium-ion batteries, recovering metals such as lithium, nickel and cobalt. The use of Elemental’s existing waste collection network (almost 30 locations) covering a large part of the US will allow for dynamic development of this activity. Elemental Holding Group will be in a leading position to obtain metals from three types of waste – spent automotive converters, e-waste and lithium-ion batteries.