French group Derichebourg has just sealed the acquisition of 100% of the share capital of Germany’s Scholz Recycling. The deal, welcomed by the stock market, propels the French leader into a new dimension on the European scrap metal recycling market.
Analysis by the experts at Auris Finance, an advisory firm specialising in mergers, acquisitions and financial engineering.
On 5 May 2026, Derichebourg announced the signing of a binding agreement for the acquisition of the entire share capital of Scholz Recycling. On the stock exchange, the share price soared, a clear sign that investors have endorsed the deal.
This is a landmark transaction: the acquisition will increase Derichebourg’s revenue by 50%.
Scholz Recycling: a long-standing pillar of German recycling
Founded in 1872, Scholz Recycling is one of the oldest players in the recycling of ferrous and non-ferrous metals in Europe. The group posted revenue of €1.6 billion in 2025, employs more than 3,500 people and operates over 180 sites across Germany, the Czech Republic, Poland and Slovenia, with its operations in Austria and Romania held through joint ventures.
In 2025, the German company processed and sold more than 3 million tonnes of metals, paper, cardboard and plastics.
A high-leverage deal for the European footprint
With this acquisition, Derichebourg crosses a decisive threshold. The group adds Scholz’s €1.6 billion in revenue to its own €3.3 billion, bringing the combined total to close to €5 billion, a 50% increase achieved through a single transaction.
Beyond the accretive impact, the acquisition of Scholz gives Derichebourg control of around one hundred additional recycling centres (180 including the joint ventures) in territories where it had previously been absent or marginal. Germany, Scholz’s leading market, will thus become the group’s second-largest country, having previously accounted for only 3 to 5% of its activity.
The transaction will be financed through available cash, the group’s confirmed credit lines, and a bridge loan arranged by BNP Paribas. Closing is expected in the second half of 2026, subject to merger control and foreign investment clearances.
An external growth strategy
Founded in 1956, Derichebourg is celebrating its 70th anniversary this year. Specialised in scrap metal recycling and services to local authorities, the group employs close to 5,400 people across 13 countries and generated €3.3 billion in revenue in 2025, recycling 4.1 million tonnes of ferrous metals. For several years, it has been accelerating its development through a combination of targeted external growth and industrial investments.
Industrial synergies and the decarbonisation of the steel industry
The European steel industry is on the verge of a model shift, as illustrated by the strategy adopted by ArcelorMittal. The steelmaker is to invest €1.3 billion in a giant electric furnace in Dunkirk, with a capacity of 2 million tonnes per year and a commissioning date set for 2029. The aim is to gradually replace its coal-fired blast furnaces with electric arc furnaces, whose carbon footprint is three times lower. These furnaces, which operate by melting recycled scrap using electricity, will require large quantities of high-quality scrap.
With more than 7 million tonnes of recycled materials per year (4.1 million for Derichebourg and over 3 million for Scholz) and a network of nearly 280 sites spread across Europe, the combined group will have a logistical and commercial platform capable of supplying steelmakers in close proximity to their plants.
An accelerating European consolidation
The transaction reflects a deeper trend: the accelerating consolidation of the recycling sector at European level. Faced with clients who demand partners of critical size, capable of offering massive volumes, broad geographic coverage and traceability commitments, regional players have no choice but to merge or partner up. For Derichebourg, integrating Scholz means moving from the status of a leading national player to that of an indispensable European champion, able to stand toe-to-toe with its major German and Dutch competitors.
Our experts by your side
This deal is a reminder of how external growth remains a key strategic lever for mid-cap companies and large industrial groups looking to step up in scale. Organised by sector, the experts at AURIS Finance support executives, SMEs and mid-cap firms in their disposal, acquisition and fundraising projects, both in France and internationally.
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