Merrill Lynch & Co. beat out Texas Commerce Bank to lead a $125 million syndication for Imco Recycling Inc., adding another one-stop-shopping deal to its growing collection.

A meeting for 15 lenders was held Wednesday. The credit backs Irving, Tex.-based Imco's $58 million acquisition of aluminum recycler Imsamet from EnviroSource Inc., reaffirming Imco's number-one spot in the rapidly consolidating aluminum recycling industry.

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