Ohio oil treatment company Hydrodec announces merger deal with Cleveland Industrial Recycling

Hydrodec of North America, which collects and hydrotreats used transformer and naphthenic oils at its Canton facility, has agreed the merger with Ashtabula-based high voltage metal recycling business, Cleveland Industrial Recycling – with the expertise of both businesses joining to play a greater role in helping companies to offset carbon emissions, conserve fossil fuels and gain Carbon Credits to help meet their sustainability goals.

An Ohio-based naphthenic oil treatment provider has announced a merger with a fellow US environmental business in a deal which promises multiple carbon-cutting benefits for customers.

The merger is the latest positive news for Hydrodec which was acquired by UK-based owning group Slicker Recycling in November last year.

The expanded company, which now counts over 50 employees, will be led by Gary Smith who becomes CEO of the US business – moving from the UK where he is currently Slicker Recycling’s operations director. Jim Szoka, former owner of Cleveland Industrial Recycling, will become the executive chairman of the amalgamated company.

Gary Smith, CEO of Hydrodec North America said: “We are growing at a rapid pace and the US market is a vital part of that strategy, and somewhere we want to expand further in the years ahead.

“It is only a matter of months since we acquired Hydrodec but we saw so many synergies with Jim and his team at Cleveland. It makes sense for both companies to link their expertise and I look forward to be overseeing the close integration in the coming months.

“It is an exciting deal as it will deliver so many benefits, aside from the efficiencies we will gain for used oil extraction and metal recycling, it will also allow us to work with more and more businesses, especially in the utilities sector, to help them play their part in doing right by the planet, achieve their green goals and prove that commitment through gaining Carbon Credits.

“There are so many compatibilities between both companies, with Cleveland’s specialist team taking and decommissioning tonnes of high voltage scrap metal and transformers every day, and then working hand-in-hand with the team at Hydrodec to ensure used oil is extracted, refined and recycled back into the market. “It is a merger which ultimately means we are extending the value chain, and offering a closed-loop, end-to-end solution for companies across Northeast United States region and beyond.” “This merger is the next logical step for Cleveland Industrial Recycling and will not only extend the value chain, but give a complete, closed loop process when it comes to us recycling various types of metals and ensuring oil is extracted. “We see a great fit with Hydrodec so it is an exciting time for everyone involved,” Jim Szoka, executive chairman of Hydrodec North America added.

Cleveland Industrial Recycling has 29 employees. Aside from its 74 acre Ashtabula OH facility which processes high voltage scrap metal, the company also has sites in Mercer PA and Akron OH which also process and drain transformers and high voltage electrical equipment.

The merger sees Slicker Recycling, which is headquartered near Birmingham in the UK, further increasing its global footprint and building its circular economy credentials after the 2020 opening of its $95 million base oil re-refinery in Denmark through a joint venture with its German partner, Avista AG.

www.slickerrecycling.com

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