Atlanta-based Reibus International, an online marketplace for steel and industrial metals, made significant moves in expanding its European presence during the month of June, opening a headquarters for the region in Düsseldorf, Germany, and acquiring a Swedish firm.
The tech platform connects buyers and sellers with the goal of smoothing out supply chain problems in the industrial marketplace, where managing inventory can suck up capital and create operational headaches. Steel and aluminum markets have been roiled by a volatile few years sparked first by tariffs under the Trump administration, then by the bottlenecks of the pandemic.
With Reibus, which plays up its status as an independent marketplace, sellers are promised automated deals (so far 90 percent have been matched this way) while buyers can see their requests for qualifications quickly matched up with bidders. The company also provides financing and shipping services.
Reibus put its European office in Düsseldorf to be close to both clients and the burgeoning startup community in the state of North Rhine Westphalia, which played up its extensive network of universities and innovation centers upon opening its investment office recently in Atlanta — a first for a German state.
“By continuing to establish operations in key areas within Europe, we are able to serve clients better and strengthen our position in Europe,” said founder and CEO John Armstrong, who hails from Edinburgh, Scotland, in a news release. “Düsseldorf also gives us a great opportunity to attract the best people from the local steel and technology talent pool as we continue to build our team.”
Reibus tapped e-commerce executive Andreas du Plessis, who formerly led logistics for the Otto Group, as its managing director for Europe. Gilles Mirol, former chief marketing officer with Liberty Liège – Dudelange and a 20-year ArcelorMittal veteran, was tapped as general manager for sales in Europe. Miriam Misselhorn, a veteran of XOM, Klöckner, ArcelorMittal and Thyssen Schulte, joined the company as director of enterprise sales and customer success for Europe. Jean-Philippe Haye, formerly with Liberty Steel and ArcelorMittal, became director of sales in France.
Just after announcing the office opening in Germany, Reibus said it would acquired Sweden-based Stålgossen, a trading company specializing in steel, aluminum and scrap metals. Based in the city of Norrköping, Stålgossen will assume the Reibus name while continuing to operate under its current leadership. Terms of the deal were not disclosed.
Currently, Reibus says it has 6,880 active listings on its platform accounting for 65,506 tons of material across 120 locations.
Founded in 2018, the company has expanded rapidly internationally, naming a country director for Canada in 2021. This growth further accelerated after Reibus raised $75 million in a series B round in November led by Japanese telecom giant SoftBank and its second Vision Fund, with continued participation from existing investors. At the time Reibus said it had raised more than $100 million to date at a $750 million valuation. Revenue grew in 2021 seven times over pandemic-plagued 2020.