Industrial Services of America Inc.’s (ISA) planned asset sale to River Metals Recycling (RMR) has been finalized.

 

RMR, a wholly-owned subsidiary of The David J. Joseph Co. (DJJ), has acquired mostly all of ISA’s metal recycling assets located Louisville, Kentucky, pursuant to the definitive purchase agreement. ISA intends to dissolve and to distribute a portion of the sale proceeds to its shareholders, according to a news release.

 

The purchase, valued at $23.3mn, was initially announced and executed Aug 19, 2019. RMR anticipates hiring most of ISA’s employees, save for its chief executive officer, after the transaction closes. The transaction isn’t expected to affect the company’s customers and suppliers.

 

DJJ, a subsidiary of Nucor Corp., a mini-mill steelmaker, has locations in Kentucky, Ohio, Indiana and Illinois. ISA runs four metal recycling facilities in Kentucky and Indiana, including an auto shredder, and the company is one of 16 publicly traded companies in Louisville. RMR operates 11 locations in Kentucky, Ohio, Tennessee, Indiana, Illinois and Alabama, including auto shredders in Newport and Louisville, Kentucky.  

 

Adding these locations is consistent with DJJ’s plan to expand its local recycling programs and consumer base of ferrous and nonferrous scrap customers in the area.  

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