Toyota Tsusho America buys Bermco Aluminum

Stout Risius Ross Inc. (SRR), Southfield, Michigan, a leading middle market investment banking firm, has announced that it served as exclusive financial advisor to Berman Bros. Iron & Metal Co. Inc., dba Bermco Aluminum (Bermco), in its purchase by Toyota Tsusho America Inc. (TAI), with locations throughout the U.S. and in Canada, Costa Rica and Mexico.  Terms of the transaction were not disclosed.

Founded in 1921, Bermco Aluminum is a leader in the secondary aluminum smelting industry, converting aluminum scrap into aluminum ingot and sow, serving die-casters and foundries for use primarily in the automotive and lawn and garden industries. Bermco is based in Birmingham, Alabama, with an additional facility in Bessemer, Alabama.

Japan-based Toyota Tsusho Corp., the trading affiliate of the Toyota Group, is TAI’s parent company. TAI has seven operating divisions: automotive; chemical and electronics; consumer products; global parts and logistics; machinery, energy and project; metal; and food and agribusiness.

Steve Weinstein, president of Bermco, says, “This is the beginning of an exciting new chapter for Bermco. It is a unique opportunity to join one of the world’s top performing automotive-related businesses. By becoming part of TAI, the company can access the resources and reach that will help Bermco to continue to support and grow with its customers.”

Atsumasa Kubota of TAI’s nonferrous metal division says, “In recent years we have started expanding our support of other carmakers as well as nonautomotive markets. This acquisition accelerates our sales expansion in these areas and creates synergies among our subsidiaries in North America."

Gian Ricco, senior vicepresident in SRR’s investment banking practice, says, “This transaction embodies the proverbial ‘win-win.’ TAI will benefit from Bermco’s strong market presence in the heart of the Southeast, a region which continues to attract global OEMs’ attention. Bermco will benefit from TAI’s greater access to resources, operational expertise and human capital as it seeks to continue to grow.

“It was a pleasure working with Bermco on this important transaction,” he adds.

Bradley Arant Boult Cummings LLP, led by Harold Kushner and J. Andrew Robison, served as legal advisor to Bermco.

SRR is a global financial advisory firm specializing in investment banking, valuation and financial opinions and dispute advisory and forensic services.

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