Eldridge Diversified Credit announced the closing of a $120 million term loan facility with Kansas City-based Scrap Management Industries. 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 Allmetals 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.