Entrepreneur recycles business into multimillion-dollar buyout. (Johnny Imerman; Mindis International)

Entrepreneur recycles business into multimillion-dollar buyout

Atlanta-based Mindis International has been acquired by Attwoods PLC of London for a total price that could reach as high as $65 million in cash and stock if certain after-tax profit levels are met.

The sale marks the end of a whirlwind four years of empire building for Mindis' owner Johnny Imerman. Since the South African Imerman arrived in Atlanta, he has purchased 17 scrap metal businesses, the latest being the 53-year-old Atlanta-based London Iron and Metal for a reported price of between $18 million and $20 million.

Prior to buying London Iron, Mindis recorded 1988 sales of about $35 …