Mandelbaum Barrett PC, led by partners Jeffrey M. Rosenthal, Barry M. Schwartz, and Michael A. Saffer, represented the sellers of Metallix Refining, a leading precious metal recycling company, in their sale to Sibanye-Stillwater Limited, a multinational mining and metals group headquartered in South Africa and listed on the New York and Johannesburg Stock Exchanges. Associates Michael Giordano and Ann Lee assisted with the transaction.
The sale marks a significant milestone for Metallix, which has long been recognized for its advanced refining technology and sustainable recovery processes. Through this transaction, the sellers successfully positioned Metallix for continued growth under Sibanye-Stillwater’s global recycling platform, expanding its operational reach and leveraging synergies with existing U.S. facilities in Montana and Pennsylvania.
The transaction was notably complex, as the buyer was a subsidiary of a publicly listed South African company, the sellers were trusts and Metallix conducts business across the United States, Europe and Asia, requiring approvals from multiple governments in addition to the United States. The deal also involved numerous lenders and sophisticated financing arrangements, adding further layers of complexity throughout diligence and closing.
The acquisition enhances Sibanye-Stillwater’s ability to deliver end-to-end recycling solutions across multiple regions while maintaining Metallix’s legacy of innovation and industry leadership. Sibanye-Stillwater CEO Neal Froneman noted that the deal advances the company’s “urban mining strategy” and creates “significant value uplift” through synergies with its recycling operations.
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