Cleveland-Cliffs to Acquire Ferrous Processing and Trading Company (FPT)

Fortress Transportation and Infrastructure Investors (FTAI) Acquires Transtar, LLC from United States Steel

June 8, 2021

Transportation

Fortress Transportation and Infrastructure Investors LLC (FTAI) agreed to acquire United States Steel Corporation’s rail operating subsidiary, Transtar, LLC, for $640 million, with the transaction expected to close in Q3 2021 subject to regulatory approvals. FTAI and U.S. Steel will also enter a 15-year exclusive strategic rail services agreement (with minimum volume commitments for the first five years), providing FTAI with long-term contracted revenue and opportunities to grow third-party rail services and ancillary businesses.

Cleveland-Cliffs Completes Acquisition of Stelco Holdings

July 15, 2024

Manufacturing

Cleveland-Cliffs completed its previously announced acquisition of Stelco Holdings Inc. via a plan of arrangement. Under the deal, Stelco shareholders received CAD $60.00 cash per share plus 0.454 shares of Cleveland-Cliffs common stock per Stelco share (total consideration valued at CAD $3.27B).

REalloys Acquires PMT Critical Metals

April 9, 2025

Manufacturing

REalloys Inc. acquired 100% of PMT Critical Metals Inc. in a share exchange that closed March 31, 2025, with the consideration representing approximately 14% of REalloys' outstanding common stock. The acquisition adds a 54,000-square-foot Euclid, Ohio facility, production equipment, IP, R&D and existing contracts for NdFeB magnet materials, strengthening REalloys' vertically integrated North American rare-earth-to-magnet supply chain for U.S. protected markets.

ProFrac Holdings Acquires FTS International (All-Cash Transaction)

March 4, 2022

Oil & Gas

ProFrac Holdings, LLC completed its all-cash acquisition of FTS International, Inc. (FTSI), valuing FTSI at approximately $407.5 million including payments to outstanding warrants. The deal was announced in October 2021 and closed in early March 2022 after FTSI stockholders approved the merger.

EQI Ltd. Acquires Ferralloy, Inc.

May 6, 2025

Manufacturing

EQI Ltd. has acquired Ferralloy, Inc., a Cleveland-based supplier of heat-resistant alloy castings, forgings, machined components and specialty raw materials. The deal will fold Ferralloy into EQI's portfolio (alongside Pro-Tech) to expand EQI's thermal processing and metal components capabilities and broaden its customer base and supply-chain footprint.

Metal Finishing Technologies Acquires Aqua Blasting Corp.

March 26, 2024

Industrial Services

Metal Finishing Technologies (MFT), a Bristol, Connecticut-based provider of metal finishing and specialty coating services, has acquired Aqua Blasting Corp., a Bloomfield, Connecticut shot peening and blasting specialist. The deal — the first acquisition under MFT’s partnership with Battle Investment Group — expands MFT’s surface treatment capabilities and vertically integrates surface enhancement services for aerospace, defense, medical and semiconductor customers.