Metal Conversions acquires two non-ferrous metals firms to broaden its platform
What's the deal? Metal Conversions, a scrap metal recycling and tolling operator based in Westerville, Ohio, has acquired Metropolitan Alloys Corporation and Aluminum Recovery Technologies (ART). The transaction closed in April 2026. PMCF Investment Banking advised the sellers.
Metro Alloys, headquartered in Detroit, supplies zinc anodes, alloys, and aluminum deox products to die casting, galvanising, electroplating, and steelmaking customers. Founded in 1941, it has an 85-year track record. ART, based in Kendallville, Indiana, is an aluminum toll processor with over 25 years of operating history serving industrial clients across the Midwest.
Metal Conversions, formed in 1997, specialises in non-ferrous scrap metal trading and secondary smelting, and operates a full-service scrap yard in Mansfield, Ohio. Financial terms were not disclosed.
Why now? The deal fits a broader pattern of consolidation in the non-ferrous metals sector as companies seek vertical integration and broader service offerings. Metal Conversions' chief executive officer, Steve Senser, called the acquisition "a meaningful milestone in our strategic growth plan," noting it combines Metro Alloys' and ART's zinc and aluminum capabilities with Metal Conversions' existing scrap trading and smelting platform.
Gil Spilman, president and owner of Metro Alloys and ART, said finding the right steward for the companies' legacy was a priority.
What could go wrong? Integrating three distinct operations — scrap trading, alloy manufacturing, and toll processing — across multiple states carries execution risk. The non-ferrous metals market is also cyclical and sensitive to commodity price swings, tariffs, and industrial demand. Any slowdown in steel or automotive production could pressure the combined entity's volumes.
The signal: Mid-market industrial roll-ups continue to gain momentum, particularly in metals recycling and processing. The deal reflects a strategy of assembling complementary capabilities — sourcing, smelting, manufacturing, and tolling — under one roof to serve customers more completely. As supply chains remain in flux, buyers see value in owning more of the value chain rather than relying on fragmented suppliers.
Read more: pmcf.com
