Legacy Corporate Lending provided a $31 million asset-based credit facility to Shapiro Metals Company, a family-owned, third-generation metals, aluminum scrap processor and aluminum ingot producer.

Shapiro selected Legacy to refinance its existing credit facility to create additional liquidity from a borrowing base supported by accounts receivable, inventory, machinery and equipment, and real estate. The transaction closed in the third quarter of 2025.

Founded over 120 years ago, Shapiro operates multiple scrap yards across the Midwest, Southeast and Southwest United States. In addition to processing scrap metal, Shapiro works with contracted die casters to produce aluminum ingot for sale into the aerospace, automotive, transportation and other industries. With a commitment to supporting sustainability goals, Shapiro also advises customers on how to achieve comprehensive recycling solutions.

“In the dynamic and ever-evolving industry that we operate in, finding a financing partner that is able to not only support our working capital requirements, but understand the month-to-month fluctuations that come with commodity products is crucial to the growth and success of our business,” said Bruce Shapiro, Chief Executive Officer of Shapiro. “The Legacy team took a flexible, creative approach to structuring a credit facility that provided the additional liquidity we were looking for to grow the Company.”

“Being a trusted partner for family-owned businesses is a trademark of Legacy. Shapiro Metals Company’s long history speaks volumes for the mark the Company has made on the industry, and we are proud to support their mission and business needs,” said Clark Griffith, Chief Executive Officer of Legacy. “We look forward to a lasting partnership with Bruce and the Shapiro team and supporting the Company’s ongoing growth.”