Ecobat has confirmed the sale of its UK battery recycling and specialty lead operations to funds advised by Splitstone Capital LLP, a London-based private equity firm.
The binding agreement includes the Matlock facility – Europe’s largest battery recycling plant – and its lead sheet mill in Welwyn Garden City.
Splitstone Capital, founded in 2024, focuses on acquiring non-core divestment opportunities across the UK and Ireland, particularly within industrial and business services sectors.
“We are pleased to announce the sale of our UK operations,” said Tom Slabe, president and CEO of Ecobat. “Upon completion, this transaction – along with the previously announced divestitures in France, Italy, Germany and Austria – will mark Ecobat’s exit from the European lead market. This strategic transition positions us to focus on our US and lithium-Ion battery recycling operations. Ecobat will continue to pursue additional opportunities to maximise value for shareholders beyond these transactions.”
The deal signals a significant strategic shift for Ecobat, which has been a global leader in battery recycling. The company’s withdrawal from the European lead market underscores its pivot toward lithium-ion technologies and North American operations.
Completion of the transaction is anticipated by late 2025, subject to regulatory approval. Rothschild & Co is serving as financial advisor, with legal counsel provided by White & Case.
