Eversheds Sutherland has advised Sims Metal Management Limited (Sims) on the agreed €83.5m sale of its European compliance scheme orientated recycling operations to German-based TSR Recycling, a subsidiary of REMONDIS Group.
Sims is one of the world’s largest metal and electronics recyclers with over 250 facilities, including joint venture operations, in 18 countries.
The operations that have been sold are located in Germany, Austria, the Netherlands, Belgium and Sweden. The deal, which is subject to competition approval by the European Commission, includes the sale of Sims’ waste electrical and electronic equipment (WEEE) treatment facilities in Sweden, Norway, Belgium and the Netherlands.
The sale does not include Sims’ global e-recycling IT asset disposal business.
The multijurisdictional Eversheds Sutherland team was led by corporate Partner James Trevis with Principal Associate Anthony Cross (corporate, Germany) and Senior Associate Thomas Plant (corporate, UK).
The wider team included Partners Peter Harper (competition, UK), Simon Weppner (tax, Germany), David Beswick (employment, UK), Jane Southworth (EHS, UK) and Tom van Wijngaarden (corporate, Netherlands), Consultant Stephen Rose (competition, UK), Principal Associates Evy Verhaeghe (corporate, Belgium), Claire Morgan (competition, UK), Anique Bitterlich and Marieke Koster (both employment, Netherlands), Senior Associates Christian Lindner (corporate, Germany), Michael Hardiman (employment, UK), Lukas Ploesch (corporate, Austria) and Laetitia Goor (real estate, Netherlands) and Associates Jake Perryman (corporate, UK), Rachael Tattersall (EHS, UK) and Dane Stattin (corporate, Sweden).
James Trevis commented: “This was a complex, multijurisdictional deal where strong collaboration and careful project management was absolutely key. We have a long standing 20 year relationship with Sims and we’re delighted to have been able to assist on what is a notable transaction for them. We look forward to continuing to support Sims in the future.”
Josef Malik, Director of Business and Legal Affairs at Sims Metal Management Limited, commented: “This was a strategically important deal for our company and we are pleased with this outcome. The Eversheds Sutherland team was excellent, combining a comprehensive understanding of our business with first class legal advice, commercial nous and innovative solutions to ensure the very best result.”