M&A Deal Summary |
|
|---|---|
| Date | 2021-10-11 |
| Target | Ferrous Processing & Trading |
| Sector | Environmental |
| Buyer(s) | Cliffs |
| Sellers(s) | Soave Enterprises |
| Deal Type | Divestiture |
| Deal Value | 775M USD |
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| Category | Company |
|---|---|
| Founded | 1847 |
| Sector | Metals/Mining |
| Employees | 27,000 |
| Revenue | 23.0B USD (2022) |
Cliffs is the largest and oldest independent iron ore mining company in the United States. Cleveland-Cliffs, Inc. is a major supplier of iron ore pellets to the North American steel industry from its mines and pellet plants located in Michigan and Minnesota. By 2020, Cleveland-Cliffs expects to be the sole producer of hot briquetted iron (HBI) in the Great Lakes region with the development of its first production plant in Toledo, Ohio. Driven by the core values of safety, social, environmental and capital stewardship, Cleveland-Cliffs’ employees endeavor to provide all stakeholders with operating and financial transparency. Cleveland-Cliffs Inc. Cliffs was incorporated in 1847 and is based in Cleveland, Ohio.
| DEAL STATS | # |
|---|---|
| Overall | 3 of 3 |
| Sector (Environmental) | 1 of 1 |
| Type (Divestiture) | 2 of 2 |
| State (Michigan) | 1 of 1 |
| Country (United States) | 3 of 3 |
| Year (2021) | 1 of 1 |
| Size (of disclosed) | 3 of 3 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 2020-09-28 |
ArcelorMittal USA
Chicago, Illinois, United States ArcelorMittal USA LLC is engages in manufacturing of steel products. ArcelorMittal USA was founded in 2002 and is based in Chicago, Illinois. |
Buy | $1.4B |
| Category | Company |
|---|---|
| Founded | 1961 |
| Sector | Financial Services |
Soave Enterprises has been shaped and defined by its entrepreneurial culture. This vision consistency of spirit is Soave’s ever-present beacon of light, guiding the company as it navigates an ever-changing business landscape.
| DEAL STATS | # |
|---|---|
| Overall | 1 of 1 |
| Sector (Environmental) | 1 of 1 |
| Type (Divestiture) | 1 of 1 |
| State (Michigan) | 1 of 1 |
| Country (United States) | 1 of 1 |
| Year (2021) | 1 of 1 |
| Size (of disclosed) | 1 of 1 |
| DATE | TARGET | DEAL TYPE | VALUE |
|---|---|---|---|
| 1997-01-01 |
Ferrous Processing & Trading
Detroit, Michigan, United States Ferrous Processing & Trading is a processor and distributor of prime ferrous scrap in the United States, representing approximately 15% of the domestic merchant prime scrap market. FPT currently processes approximately three million tons of scrap per year, approximately half of which is prime grade. It operates 22 scrap processing facilities, with approximately 90% of revenues originating from its Midwest locations, primarily in Michigan and Ohio. Ferrous Processing & Trading was formed in 1904 and is based in Detroit, Michigan. |
Buy | - |
