Exiting Europe Lead Market to Focus on U.S., Dallas’ Ecobat Sells Its U.K. Battery Recycling & Specialty Lead Operations
“Upon completion, this transaction—along with the previously announced divestitures in France, Italy, Germany, and Austria—will mark Ecobat’s exit from the European lead market,” said Ecobat President and CEO Tom Slabe.
Ecobat CEO Thomas Slabe [Photo: Ecobat]
Dallas-based Ecobat, a global leader in battery recycling, is selling its battery recycling and specialty lead operations in the United Kingdom to funds advised by Splitstone Capital LLP, a U.K.-based private equity firm. The sale includes Ecobat’s facility in Matlock, the largest battery recycling plant in Europe, along with the company’s lead sheet mill in Welwyn Garden City.
“We’re pleased to announce the sale of our U.K. operations,” Ecobat President and CEO Tom Slabe said in a sttement. “Upon completion, this transaction—along with the previously announced divestitures in France, Italy, Germany, and Austria—will mark Ecobat’s exit from the European lead market.”
Slabe said the “strategic transition” will position Ecobat to focus on its U.S. and lithium-Ion battery recycling operations.
“Ecobat will continue to pursue additional opportunities to maximize value for shareholders beyond these transactions,” the CEO added.
The U.K. transaction is slated to close by late 2025, pending regulatory approvals.
Rothschild & Co is acting as financial advisor and White & Case as legal advisor to Ecobat on the deal.
Follows 2024 partnership with Volkswagen Group U.K.
The move to exit the European lead market follows Ecobat’s February 2024 announcement of its partnership with Volkswagen Group United Kingdom Ltd. to collect and recycle electric vehicle batteries.
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