Steel Mills
March 7, 2023
CMC Acquires Scrap Recycler Roane Metals
Commercial Metals Co. has acquired metal recycler Roane Metals Group.
Financial terms of the private transaction were not disclosed, in a deal guided by Carl Marks Securities LLC.
Roane Metals is a ferrous and nonferrous metals recycling company with headquarters in Rockwood, Tenn. It specializes in the purchase, processing, and sale of scrap metals from industrial, commercial, and individual sources.
“After running a broad auction process and bringing in bids from many international steel companies, Commercial Metals emerged as the best fit to continue Roane Metals’ legacy,” Chris Parisi, partner at Carl Marks Advisors, said in a statement.
Carl Marks Securities is an affiliate of middle-market investment bank Carl Marks Advisors.
CMC is an Irving, Texas-based long products steelmaker and scrap recycler.
By Ethan Bernard, ethan@steelmarketupdate.com
