Splitstone Capital has acquired Ecobat Resources UK Ltd, a leading lead battery recycling and products business, facilitating its rebranding to HJ Enthoven and British Lead, and positioning it for growth in the UK’s sustainable energy landscape.

Target Company Overview

Splitstone Capital LLP has successfully acquired Ecobat Resources UK Ltd (ERUK), a leading player in the lead battery recycling and lead products industry in the UK, with a turnover of £190 million. The acquisition marks a significant milestone as the company transitions to independence, adopting the historic names HJ Enthoven for its metals recycling operations in Matlock and British Lead for its sheet lead division in Welwyn Garden City. With a workforce of approximately 400 employees, ERUK operates one of Europe’s most advanced closed-loop systems for recycling and refining lead, affirming its commitment to sustainability.

HJ Enthoven processes around 150,000 tonnes of scrap lead and used batteries annually, achieving a remarkable recovery rate of over 99.7% of lead content. It produces high-purity recycled lead and various alloys, catering to diverse industries including energy storage, industrial manufacturing, and construction. British Lead upholds a time-honored reputation for producing top-quality rolled sheet lead, utilizing reclaimed materials from the construction industry.

Industry Overview in the UK

The UK’s lead battery recycling sector plays a crucial role in the circular economy, contributing to sustainability through the recovery and recycling of lead from used batteries. This sector has witnessed growth due to increasing