Completion Date: 1/08/2024
Moore Australia (VIC) has successfully advised the shareholders of Highett Metal Pty Ltd on the sale of 100% shares to Minemet Recycling Group Pty Ltd.
Family owned and operated across two generations for over 60 years, Highett Metal is one of Victoria’s leading scrap metal dealers.
The business buys and sells scrap and new metal products to customers across Australia. With their new metals business unit, they are uniquely positioned to supply the customer with both new material and collect their scrap arisings. They have an excellent reputation for paying the best prices and same day.
Engaged in 2023 by the founding family to explore a divestment of the business, Moore Australia’s Benjamin Yeo and Tasman Perrin led the comprehensive sale process. The opportunity was introduced to strategic parties with the ability to not only look after its employees and customers, but also continue to grow the business under its founding morals.
“We are incredibly proud of the legacy our family has built with Highett Metal over the past 60 years,” said the Dykas family. “Selling the business was a significant decision for us, and we are confident that Minemet Recycling Group, supported by Infragreen, will honor the values and commitment to quality that Highett Metal has always stood for. We believe they will continue to grow the business while maintaining the strong relationships we have established with our employees, customers, and the community. We are grateful to Moore Australia’s Benjamin Yeo and Tasman Perrin for their guidance and expertise throughout this process.”
Minemet Recycling Group Pty Ltd is backed by Infragreen – a diverse infrastructure company that owns, builds and operates sustainable infrastructure solutions. The acquisition provides Minemet with a trusted brand and headquarters in Victoria that is native to locals.
“We are thrilled to welcome Highett Metal to the Minemet Recycling Group family,” said Hugh McKee, CEO of Minemet Recycling Group. “Highett Metal’s longstanding reputation for excellence and their deep-rooted community ties make them a perfect fit for our vision of sustainable growth. This acquisition not only strengthens our presence in Victoria but also allows us to uphold the high standards and values that the Dykas family has instilled over the past 60 years. We look forward to building on their legacy and driving continued success together. Additionally, we remain committed to seeking synergistic bolt-on acquisitions for geographical expansion across Australia and New Zealand, further enhancing our capabilities and market reach.”
