Eldridge Capital Management announced the closing of a $120 million term loan facility with Scrap Management Industries, supporting the company’s acquisition of Allmetal Recycling and its network of 10 locations across Kansas.
The financing, provided through Eldridge Diversified Credit, will enable Scrap Management Industries to significantly expand its footprint. Following the acquisition, SMI will operate five shredders across 19 yards in three primary regions serving Missouri, Kansas, and Oklahoma, strengthening its position as a leading recycler of ferrous and nonferrous metals in the region.
Eldridge Diversified Credit invests across asset-based credit, corporate credit, and structured credit strategies. Its asset-based credit platform provides loans and leases secured by mission-critical, income-producing assets across industries, including manufacturing, energy and power, maritime, chemicals, metals, technology, aircraft, and railcars. Since 2015, Eldridge has originated more than $17.5 billion in asset-based transactions and operates what it describes as the largest private, independent equipment finance platform in North America by assets and origination volume as of 2026.
Eldridge is an asset management and insurance holding company with more than $70 billion in assets under management. The firm operates through two divisions: Eldridge Capital Management and Eldridge Wealth Solutions. Eldridge Wealth Solutions includes wholly owned insurance companies Security Benefit and Everly Life. Eldridge is wholly owned by Eldridge Industries.
Founded in 1973, Scrap Management Industries operates facilities in Kansas City and St. Joseph, Missouri, along with multiple locations across Kansas and Oklahoma. The company emphasizes transparent and ethical practices, clean and well-maintained facilities, community engagement, and continued advancement in metal recycling technology and environmental stewardship.
KEY QUOTES:
“The acquisition of Allmetal Recycling will be extremely transformational for SMI and would not have been possible without the capital provided by Eldridge, who were a terrific partner throughout the entire process. We look forward to deepening our relationship as we continue to grow.”
Keith Rhodes, Chief Financial Officer, Scrap Management Industries
“We are pleased to be a part of this transaction and provide meaningful capital to SMI. This acquisition provides the company with a unique, dominant market position, backed by a strong ownership group and experienced management team. We remain committed to supporting SMI with future capital needs as they continue to scale the business.”
Dave Schubel, Senior Director, Eldridge Capital Management
