London-based private equity firm Splitstone Capital has agreed to acquire Ecobat Resources UK Limited, the country’s largest lead battery recycling business, from US parent company Ecobat LLC.
The deal, structured as a corporate carve-out, will see Ecobat Resources transition to standalone ownership under Splitstone’s management. The company operates Europe’s biggest lead battery recycling plant in Matlock, Derbyshire, along with a sheet lead production facility in Welwyn Garden City.
Together, these sites form the UK’s largest integrated lead recycling and refining operation, processing used lead-acid batteries and scrap lead into refined materials for use across automotive, industrial, and construction sectors. The company achieves a lead recovery rate of more than 99%, contributing significantly to the UK’s circular economy.
Splitstone will fund the acquisition through £100 million in committed capital, alongside £40 million in additional facilities to support future growth.
Peter Foxwood, Managing Partner of Splitstone Capital, said:
“Ecobat Resources UK is a strongly-performing market leader with a vital and enduring role in the circular economy. We are excited to support the Managing Director, John Manning, and his team as they build on the company’s impressive heritage. This transaction exemplifies the kind of complex carve-outs we actively seek out, where focus, pace and creativity are essential to deliver a successful outcome.”
The deal remains subject to regulatory approvals and customary closing conditions.
