With ingenuity, experience, and the right partnerships, anything is possible. Just ask the co-founders at PBT Acquisition, LLC, and they’ll tell you the credit goes to the team at First Bank in helping them achieve their collaborative dream of an auto-salvage reclamation and environmental restoration business. “If it wasn’t for their faith in what we’re trying to achieve, none of this would even be possible,” said Thomas Bené, CFO, PBT Acquisition.
This unique business model utilizes the latest equipment in metal separation technology to extract various components from an East St. Louis, IL-area auto landfill site. Reclaimed precious metals will then be sold for recycling purposes, while existing environmental hazards are properly disposed into lined containers, per EPA standards.
“The experience of PBT Acquisition’s partners are perfectly suited for this unique endeavor,” said Joe Reinmann, of PBT Acquisition. “We combine backgrounds in environmental remediation, redevelopment, and plant operations along with worldwide market breadth in scrap metal marketing.”
Not only will PBT Acquisitions help to clean up the environment while rehabilitating the landfill site, but they’re also creating valuable full-time employment. “We’re working with local agencies and have a full commitment to hiring Veterans,” said Bené. “We value their training and skillset.”
Reinmann said he cannot speak highly enough of the financing team at First Bank. “This was a unique project with creative financing needs,” said Reinmann. “First Bank invested the time to understand both the business proposition and the process itself. It’s been a true synergy of strengths and ideas.”