Client:
Gold Metal Recyclers
Dallas, Texas
Line of Business : Inventory Based Businesses
Client Contact: Ken Goldberg, Owner, 214-421-0247
Partner Contact : Mike Hirsh, 972-448-6952
Dallas-based Gold Metal Recyclers is yet another company that started out with Weaver and Tidwell and has continued with the firm year after year, and in this case, for more than 25 years. And, like, Weaver and Tidwell, Gold Metal has enjoyed outstanding growth and great success over that time period.
Gold Metal is the brainchild of co-owners Ken Goldberg and his brother, Neil. After Ken graduated from the University of Texas in 1975, he amassed enough experience with another metal recycler to start his own company, and Neil joined him shortly after Gold Metal opened in December 1976.
As in many business relationships, Ken Goldberg turned to a longtime friend and professional associate, Mike Hirsh, for professional guidance. Today, Hirsh is Weaver and Tidwell’s tax and business services line leader and a tax partner.
Contrary to the company name, Gold Metal Recyclers does not deal in precious metals such as gold, but rather recycles ferrous metal (steel and iron) as well as non-ferrous metal (such as copper, aluminum, and brass). Actually, says Goldberg, the “Gold” refers to his family’s name.
Goldberg explains, “We still buy our retail scrap direct from the public, although we now have industrial accounts, and we purchase from smaller dealers as well.” He continues, “We sort it by grades and process it, which can include cutting, shaping, and putting it in bales, then packaging to meet the consumers’ specifications.” The finished product is then shipped globally, Goldberg says.
“Weaver and Tidwell is involved in many key areas of our business, from financials, tax planning, acquisitions, and consulting on any major investments,” says Goldberg. In addition, since Gold Metal is an equipment-driven company, Weaver and Tidwell consults on current tax laws, which, says Goldberg, “tells us whether to buy new or used equipment, and the timing considerations for either situation.”
Goldberg points out, “Our overall philosophy of increasing market share has been directed in part by the advice we have received Weaver and Tidwell professionals.”
He continues, “We have an ongoing positive relationship with Weaver and Tidwell, and we have confidence in the feedback we get. That feedback is an important factor in everything we do. Mike has been a great friend to all of us. He’s very professional, and we just couldn’t have gotten where we are without his help and advice.”
Weaver and Tidwell also assists Gold Metal Recyclers with its profit-sharing plan, insurance needs, and estate planning. In addition, the Goldbergs have turned to Weaver and Tidwell for their family’s personal tax advice.
Gold Metal now employs 150 people in Dallas and another 50 at Spectrum Metals. The company launched Spectrum about 10 years ago in Houston and recently purchased its own facility there.