HOLLAND — Holland-based Padnos, a fourth-generation, family owned industrial recycling and scrap management company, has expanded its geographic footprint within Michigan by acquiring B. Clinkston & Sons Inc.
Founded in 1915, B. Clinkston & Sons is a third-generation family business run by Steve Clinkston that operates a scrap metal yard in Saginaw.
Jonathan Padnos.
PHOTO FROM LINKEDIN
The deal furthers Padnos’ regional consolidation strategy and marks the next step in the company’s growth plans, according to President and CEO Jonathan Padnos.
“The work that Steve Clinkston has done to build on the legacy of his family’s business is admirable,” Padnos said in a statement. “Clinkston is a highly reputable scrap business and a pillar in the Saginaw community. We are proud to join forces and continue the positive impact in the Tri-Cities area.”
With the addition of the Clinkston business, Padnos now operates 26 locations in Michigan and Indiana.
Terms of the deal were not disclosed.
The investment follows an announcement in January that Padnos was investing $6.6 million to expand its facility at 500 44th St. SW in Wyoming, where the company expected to create 50 new jobs, as MiBiz previously reported.
The company cited increased demand for recycled materials as driving the expansion, which will include a new laboratory, maintenance garage and loading docks. The project also will boost the company’s capabilities to recycle ocean-bound plastics.
