Derichebourg Environnement announced that, on Friday, December 20, 2019, it finalized the acquisition of the Lyrsa Group, the Spanish leader in scrap metal recycling as the conditions precedent provided for in the acquisition contract signed last September 19th were met.
Derichebourg Environnement acquired 100% of the capital of Lyrsa, Archamesa and Redisa from Layro, the majority shareholder, and from minority shareholders.
The business acquired had revenue of 427 million euros in 2018. The group processes 1 million tons of scrap metal annually, of which 160,000 tons of non-ferrous metals. The Group has approximately 600 employees.
Lyrsa was founded in 1939 and operates 18 recycling centers (17 in Spain and one Portugal). The company is the leading independent Spanish scrap metal recycler. It operates three shredders (of which one has been jointly held with the Derichebourg Group for 27 years), a sorting center for shredded metal, an aluminum refinery and a lead refinery.
Following the acquisition, Abderaman El Aoufir, Deputy CEO of the Derichebourg Group stated that: "We commend the work done by the founding families and their descendants to build this great group. We are aware of the importance of this change for the Lyrsa Group and its employees and are enthusiastic about beginning a new chapter in the history of the Lyrsa Group and the Derichebourg Group."