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Alter Trading Corp. Buys Tenenbaum Recycling Group Assets

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Alter Trading Corp. of St. Louis said Monday that it has agreed to purchase all the assets of Tenenbaum Recycling Group of Little Rock.

The companies did not disclose a purchase price. The deal is set to close Aug. 24.

“We knew that someday we would take advantage of the right opportunity to exit the industry to pursue our individual passions and could not be more proud of the Tenenbaum Team for their accomplishments to this point,” said Harold Tenenbaum, Tenenbaum Recycling Group’s chairman of the board.

Tenenbaum said his family and the Goldstein family, which controls privately held Alter Trading Corp., “have been friends and business associates for decades.” Both company leaders said the two scrap metal recycling companies have similar cultures and histories.

“We are very excited to place our business and history in the Arkansas and Missouri communities in the hands of our friends at Alter Trading, and are comfortable knowing that Alter, like TRG, will support the communities that have enabled our family business to flourish,” Harold Tenenbaum said.

Tenenbaum Recycling Group is a subsidiary of privately-held A. Tenenbaum Co. Inc. of North Little Rock, founded in 1890. It ranks No. 46 on Arkansas Business’ most recent list of the state’s 75 largest private companies, with 2017 revenue of $225 million.

Tenenbaum Recycling has 300 employees and operations throughout the state, including in Rogers, Jonesboro, Harrison, Hot Springs, Fayetteville and Lonoke.

Alter Trading was founded in 1898. The fifth-generation company says it is one of the largest recyclers in the nation. Robert Goldstein, Alter Trading’s chairman, said the deal marks the next milestone in the company’s growth strategy.

“We are committed to the seamless integration of these two exceptional companies, and we look forward to joining the business communities in Arkansas and southern Missouri,” Goldstein said.

The deal will add 10 Tenenbaum locations to Alter’s portfolio, extending its geographic reach and bringing the number of facilities to more than 70. Alter said it intends to continue operating all Tenenbaum’s existing locations.

“The Tenenbaum family will be a tough act to follow,” said Jay Robinovitz, Alter’s president and CEO. “The Company and its current leadership team, led by CEO Jack Grundfest, are held in high regard in the industry and have built a remarkable company. It is a privilege to have an opportunity to work closely with this team.”

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