North East Auto assets acquired by Metalico
Metalico, Inc. has agreed to acquire the assets of Furlow’s North East Auto, Inc., an automotive salvage and parts provider in Pennsylvania. Terms were not disclosed.
The transaction includes Furlow’s junk car and parts inventory and real estate located in northwestern Pennsylvania near Erie. The site will be operated by Metalico’s subsidiary Goodman Services, Inc.
Metalico plans to grow the facility’s salvage car buying capabilities and continue its “pick-and-pull” auto parts business while taking advantage of additional access to scrap metal to feed its shredder in Buffalo, New York. Metalico is also aggressively looking at other properties in the auto salvage industry in Western New York and northwestern Pennsylvania to support its shredding operations.