Eldridge Closes $120 Million Term Loan Facility with Scrap Management Industries

March 03, 2026 at 08:00 AM EST

Eldridge Diversified Credit, the private, liquid, and asset-based credit investment strategy of Eldridge Capital Management (“Eldridge”), today announced the closing of a $120 million term loan facility with Kansas City-based Scrap Management Industries (“SMI”). The facility supports SMI’s acquisition of Allmetal Recycling and its network of 10 locations across Kansas. With this significant combination, SMI will operate five shredders across 19 yards in three primary regions serving Missouri, Kansas, and Oklahoma.

“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,” said Keith Rhodes, Chief Financial Officer at SMI.

“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,” said Dave Schubel, Senior Director at Eldridge Capital Management. “We remain committed to supporting SMI with future capital needs as they continue to scale the business.”

Eldridge Diversified Credit invests across a broad spectrum of asset-based credit, corporate credit, and structured credit. Eldridge’s asset-based credit strategy provides loans and leases secured by mission-critical, income-producing assets across a diverse set of industries and asset classes, including manufacturing, energy and power, maritime, chemicals, metals, technology, aircraft, and railcars. Since 2015, Eldridge has originated over $17.5 billion of asset-based transactions and today operates the largest private, independent equipment finance platform in North America by both assets and origination volume as of 2026.

About Eldridge
Eldridge is an asset management and insurance holding company with over $70 billion in assets under management that consists of two divisions: Eldridge Capital Management and Eldridge Wealth Solutions. Eldridge Capital Management, through its subsidiaries, focuses on four investment strategies – diversified credit, GP solutions, real estate credit, and sports & entertainment. Eldridge Wealth Solutions, an insurance and retirement solutions platform, is comprised of Eldridge’s wholly owned insurance companies, Security Benefit and Everly Life. Eldridge is wholly owned by Eldridge Industries. To learn more, visit www.eldridge.com.

About Scrap Management Industries (SMI)
Founded in 1973, Scrap Management Industries is a leading recycler of ferrous and nonferrous metals with locations in Kansas City and St. Joseph, Missouri, and multiple facilities across Kansas and Oklahoma. SMI focuses on transparent, ethical practices, clean and well-maintained facilities and community engagement, and continues to advance metal recycling technology and environmental stewardship. Learn more at www.smirecyclers.com.