Completion of the acquisition of the Scholz Recycling Group

Completion of the acquisition of the Scholz Recycling Group

Paris, July 31st, 2026 - Derichebourg SA (ISIN code: FR000053381, Ticker: DBG) announces that its subsidiary, Derichebourg Environnement, has today completed the acquisition of 100 per cent of the share capital of the Scholz Recycling Group (‘Scholz’). Further to the signing of the acquisition agreement announced on 5 May 2026, the customary conditions precedent have been satisfied, enabling the transaction to be finalised at the end of the contractually stipulated period.

This strategic transaction forms part of the Group’s international growth strategy, which aims to consolidate its position as a global leader in metal waste recycling.

Strengthening the Derichebourg Group’s overall competitiveness

Founded in 1872, Scholz Recycling is one of Europe’s leading metal recycling companies. With a turnover of €1.6 billion in 2025, the group has a long-standing industrial presence in Germany, as well as in the Czech Republic, Poland and Slovenia, and through joint ventures in Germany, Austria and Romania. In 2025, it sold over 3 million tonnes of recycled ferrous and non-ferrous metals, as well as paper, cardboard and plastics. The Scholz Group employs over 3,500 people and operates a total of more than 180 sites, including its joint ventures.

This acquisition enables Derichebourg to:

• Expand operational reach by integrating a network of over 100 recycling centres (180 including joint ventures) located in regions where the Derichebourg Group currently has little or no presence. The strategic and geographical complementarity is ideal.
• Support decarbonisation of the steel industry in Europe to meet growing demand from European steelmakers, who will be replacing their traditional blast furnaces with electric arc furnaces – which consume large quantities of high-quality scrap steel – over the coming years.

For the Scholz Group’s employees, customers, suppliers and financial partners, the completion of this acquisition provides clarity, with a new long-term European shareholder that has a solid financial footing, in-depth knowledge of the business across various regions, a strategic vision, and a commitment to investing in high-performance production facilities that meet the latest technological standards.

Funding and Enterprise value

The acquisition followed a competitive tender process conducted by independent administrators (Receivers). This process was initiated following the enforcement of security interests against Scholz Recycling’s parent holding company (Chiho Environmental Group Limited). Derichebourg Environnement submitted the most favourable bid from a strategic and financial perspective, whilst offering a high degree of certainty regarding its execution.

The transaction was financed entirely from Derichebourg’s existing cash resources and confirmed credit facilities (including a bridge loan provided by BNP Paribas).

The Transaction Enterprise Value (€480 million) corresponds to an EBITDA multiple of 6.5 (based on the average EBITDA over three years, including expected synergies), whilst also taking into account the significant value of the joint ventures, which are consolidated using the equity method.

The Group emphasises that this transaction:

• Maintains a strong balance sheet for the group: Post-acquisition leverage ratio is of 3 times EBITDA, based on the financial statements as at 31 March 2026.
• Creates value: Meeting internal rate of return criteria, the acquisition is expected to be accretive to earnings per share (EPS) in the medium term, thanks to Scholz’s growth and the identified synergies.

As stated in its press release of 8 July 2026, Derichebourg, together with its advisers, has analysed the proceedings brought in Hong Kong by Chiho Environmental Group Limited, challenging, in particular, the validity of the appointment of the Receivers and certain acts carried out by them. Following this analysis, Derichebourg has concluded that these proceedings, to which it is not a party, do not prevent the completion of the acquisition. As no court order or interim measure likely to prevent or suspend the completion of the transaction has been issued, the acquisition has been completed in accordance with the terms of the acquisition agreement.

Statement from the CEO

Abderaman El Aoufir, Derichebourg SA’s CEO, states : “The completion of this acquisition marks a pivotal step in our international expansion strategy. We have been able to respond swiftly to a complex market opportunity thanks to the strength of our balance sheet and our industrial vision. The teams at Scholz have shown exceptional resilience, and we will now join forces to build, by leveraging our complementary strengths, a leading European player in recycling that supports the green transition. I would like to welcome them to the Derichebourg Group. »

About Derichebourg

The Derichebourg Group is a major international operator in waste recycling, mainly metal and public sector services. The group currently operates in 17 countries and has 8,800 employees worldwide. In 2025, the Derichebourg Group generated pro forma revenue of €5.0 billion (taking into account Scholz Revenue).

Pour plus de renseignements : http://www.derichebourg.com

Contacts

Derichebourg
Relations Investisseurs et Communication
communication@derichebourg.com

NewCap
Relations investisseurs
Louis-Victor Delouvrier/ Théo Martin
derichebourg@newcap.eu
T. : 01 44 71 94 94