Debevoise Advises TPG in Connection with Majority Equity Investment in $700 Million Scrap Metal Recycling Steel Rebar Mill

3 August 2023

Debevoise & Plimpton LLP has advised TPG Rise Climate, the dedicated climate investing strategy of TPG's global impact investing platform TPG Rise, in its majority equity investment in the newly formed company Hybar, which has raised $700 million in debt and equity financing to build a technologically advanced, environmentally sustainable scrap metal recycling steel rebar mill in Osceola, Arkansas. Hybar plans to produce 630,000 tons of rebar annually and expects to be the most labor efficient steel rebar producer in the world.

For more information, please see the company’s press release.

The Debevoise team was led by M&A partners Christopher Anthony and Michael Diz and included associates Erik Andrén, Guy Polani and Erick Wong and law clerk Hadel Alfagir, finance partner Jeffrey Ross, counsel Michael McGuigan and associate Victoria Brown, tax partner Stephen Jordan, associate Samuel Krawiecz and law clerk Sophie Mirzaian, benefits partner Meir Katz and associate Julia Adams, intellectual property partner Henry Lebowitz and associate Louis Sanchez, and environmental counsel Stuart Hammer.