Carnegie acted as exclusive financial adviser to Core Sustainability Capital in the investment in Scanmetals for an undisclosed amount. Scanmetals was founded in 2009 and has grown to become a leading metal recycling company that contributes to the Circular Economy at its core. The company specialises in the recovery of non-ferrous metals from incinerator bottom ash with processing facilities in Denmark, United Kingdom and Germany. Along with Core Sustainability Capital, Scanmetals will focus on further strengthening its ESG profile and expand its presence within Zorba (shredded non-ferrous scrap metal) originating primarily from end-of-life vehicle scrap, household appliances, demolition and municipal waste.
Scanmetals specialises in the recovery of non-ferrous metals from incinerator bottom ash. With its inhouse developed dry process, the recovered non-ferrous metals are cleaned and separated into different fractions and sold to primary and secondary smelters globally. Scanmetals is headquartered in Kirke Stillinge (DK) and has facilities in Denmark, United Kingdom and Germany.
About Core Sustainability Capital:
Core Sustainability Capital is a recently established private equity firm, backed by the Danish pension fund Velliv, that invests in Nordic companies with sustainable impact as a core value. Linking impact to financial performance, Core Sustainability Capital has an ambition to create sustainable investments that reflect a best-in-class, impact-driven portfolio through three investment pillars, namely renewable energy & energy efficiency, resource efficiency, and social health. Scanmetals will be the first investment in Core Sustainability Fund I.