ASHVILLE - A leading regional scrap metal recycler has acquired Goodman Services.
Metalico purchased Goodman Services, based in Bradford, Pa., with a facilities in Ashville and Canton, Ohio, is a full-service recycling company. The purchase price was not disclosed, but included cash, company stock and other items.
Goodman primarily buys and processes ferrous and non-ferrous scrap generated by industrial accounts. The company’s Ashville scrap yard purchases over-the-scale peddler scrap and supports the industrial business. Goodman also provides off-site material handling and packaging services to The Timken Company of Canton.
Former owners Michael and Maureen Goodman, Tim Sampson and Eric Goodman will continue to manage their respective operations.
‘’We are pleased to join the Metalico group and feel as though we share common goals and similar management styles,’’ Sampson said. ‘’Our goal is to continue building the great reputation they have developed within our industry while expanding our existing customer base. With a significant market presence in Western New York, Pennsylvania and the Ohio Valley, Metalico’s strength also allows for growth opportunities in other markets as well. We are eager to join their management group and look forward to contributing to the common goals of a larger, more stable organization.’’
Sampson said current and new customers can expect the same great services and value they have come to expect from Goodman Services. Goodman Services Bradford and Ashville facilities are turnkey, state-of-the-art recycling operations. No major renovations will be required, but growth and expansion is expected in the future.
Goodman Services was founded in 1945 in Bradford, Pa., by Harry Goodman, Michael’s father and Eric’s grandfather. In 2007, the company moved to its Ashville location along Route 474, when they purchased the scrapyard and started from ‘’scratch.’’
‘’I think Metalico was the right choice for us,’’ said Eric Goodman. ‘’We can only gain momentum from here.’’
Goodman posted total revenue in 2010 of approximately $22 million on sales of about 42,500 tons of ferrous and 6 million pounds of non-ferrous scrap, and tolling of an additional 21,000 tons of ferrous scrap. Goodman’s primary processing equipment includes a Harris 6034 Ferrous Baler and a Harris 1103 Guillotine Shear, along with rail access and related transportation equipment.
The company’s locations complements Metalico’s existing facilities in the Great Lakes corridor. Bradford is 160 miles from Metalico’s Pittsburgh operations and will become a feed source for the Pittsburgh shredder. Jamestown is 75 miles from Metalico’s Buffalo yards. Canton is in close proximity to Metalico’s operations in Akron, Ohio.
‘’The Goodman purchase is consistent with Metalico’s expansion strategy of penetrating geographically contiguous markets and benefiting from intercompany and operating synergies that are available through consolidation,’’ said Carlos E. Agueero, Metalico president and chief executive officer. “We welcome Goodman Services to the Metalico group of companies and we are pleased to have the Goodman family remain on board to continue managing and growing the company well into the future.’’
Metalico is a holding company with operations in two principal business segments - ferrous and non-ferrous scrap metal recycling, and fabrication of lead-based products. Including the effect of the Goodman transaction, Metalico operates 26 recycling facilities in New York, Pennsylvania, Ohio, West Virginia, New Jersey, Texas, and Mississippi, and four fabricating plants in Alabama, Illinois and California.
Eric and Michael Goodman, Goodman Services managers are pictured at the company’s Ashville location. Goodman Services, based in Bradford, Pa., has been sold to Metalico, a ferrous and non-ferrous scrap metal recycler and fabricator of lead-based products.