Simpson Thacher & Bartlett and White & Case have advised on the USD1.34 billion acquisition of Radius Recycling by Toyota Tsusho America, a US subsidiary of Toyota Tsusho Corporation.
“White & Case advised on a transaction which demonstrates Toyota Tsusho’s commitment to expanding circular economy initiatives and supporting the accelerated global efforts toward achieving carbon neutrality,” said White & Case partner Nels Hansen, who co-led the deal team.
White & Case partners Hansen, Jun Usami and Shino Asayama from the firm’s Tokyo office led the team counselling Toyota Tsusho. The team comprised partners from offices including Chicago, New York and Washington DC.
Simpson Thacher advised Radius Recycling, led by partners Eric Swedenburg and Jakob Rendtorff. The team involved multidisciplinary expertise in areas from M&A, corporate and IP to tax, labour, regulatory and antitrust.
Radius is a North American recycler of ferrous and nonferrous metals. Toyota Tsusho aims to integrate Radius Recycling’s strengths with its own to create a closed-loop supply chain focused on recycled materials in North America.
The transaction is expected to close in the second half of 2025, subject to customary conditions including the approval of Radius Recycling shareholders and securing regulatory approvals.
