M&A Deal Summary

U. S. Steel Acquires Big River Steel

On October 1, 2019, U. S. Steel acquired metals/mining company Big River Steel from TPG and Koch Mineral Services

Acquisition Highlights
  • This is U. S. Steel’s 3rd transaction in the Metals/Mining sector.
  • This is U. S. Steel’s 4th transaction in the United States.
  • This is U. S. Steel’s 1st transaction in Arkansas.

M&A Deal Summary

Date 2019-10-01
Target Big River Steel
Sector Metals/Mining
Buyer(s) U. S. Steel
Sellers(s) TPG
Koch Mineral Services
Deal Type Add-on Acquisition
Advisor(s) J.P. Morgan Securities
Goldman Sachs (Financial)
Milbank (Legal)

Target

Big River Steel

Osceola, Arkansas, United States
Big River Steel is a new steel mini-mill being built with the latest technology to be the most advanced and efficient mini-mill in the United States. Big River was formed in 2014 and is based in Osceola, Arkansas.

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Buyer(S) 1

Buyer

U. S. Steel

Pittsburgh, Pennsylvania, United States

Category Company
Founded 1901
Sector Metals/Mining
Employees23,350
Revenue 21.1B USD (2022)
DESCRIPTION

U. S. Steel is an integrated steel producer with major production operations in the United States, Canada and Central Europe and an annual raw steelmaking capability of 27 million net tons. The company manufactures a wide range of value-added steel sheet and tubular products for the automotive, appliance, container, industrial machinery, construction, and oil and gas industries. U. S. Steel was founded in 1901 and is based in Pittsburgh, Pennsylvania.


DEAL STATS #
Overall 5 of 6
Sector (Metals/Mining) 3 of 3
Type (Add-on Acquisition) 4 of 5
State (Arkansas) 1 of 1
Country (United States) 4 of 5
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-12-01 Stelco

Hamilton, Ontario, Canada

Stelco is a steel company fully integrated, industry major facilities are among the safest, environmentally progressive, and productive steel plants in the world. Powered by Canadian craftsmanship, Stelco's operations in Hamilton and Nanticoke reflect the strength of each community. Together with employing more than 2,200 people, these fully integrated, industry-leading facilities are among the safest, environmentally progressive, and productive steel plants in the world. Hamilton Works is located on the shore of Lake Ontario in Hamilton, Ontario. Lake Erie Works is located in Nanticoke, Ontario, on the shores of Lake Erie. Stelco produces high-quality steel that is used primarily in the North American automotive, construction, infrastructure, appliance, manufacturing and pipe, and tube industries. Stelco was founded in 1910 and is based in Hamilton, Ontario.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-03-11 Freespace Robotics

Pittsburgh, Pennsylvania, United States

Freespace Robotics is a warehouse automation company with a reimagining of Automated Storage and Retrieval Systems (AS/RS) that are space efficient and high-speed; capable of high-volume movement of goods, in nearly any size, shape, and temperature environment. It is a robotic automation and AI company laser-focused on delivering unimagined advances in order fulfillment and movement of goods. Freespace Robotics is based in Pittsburgh, Pennsylvania.

Buy -

Seller(S) 2

SELLER

TPG

Fort Worth, Texas, United States

Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 137.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

TPG Capital is a global, mega-sized private investment firm that manages a family of funds focused on private equity, real estate, venture capital, public equity and debt investing. TPG invests in opportunities across a broad range of industries and geographies. TPG generally seeks to invest in established businesses that can benefit from the Firm's operational experience and connections. Industries of interest include consumer, retail, healthcare, industrials, digital media, natural resources, energy, real estate, technology, and software. TPG was formerly known as Texas Pacific Group and was originally established in 1992 by David Bonderman, James Coulter and William Price. The Firm is based in Forth Worth, Texas with additional offices in Europe, Asia, and Australia.


DEAL STATS #
Overall 203 of 267
Sector (Metals/Mining) 2 of 2
Type (Add-on Acquisition) 73 of 94
State (Arkansas) 2 of 2
Country (United States) 146 of 193
Year (2019) 12 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2019-09-13 Columbia Asia Hospitals

Subang Jaya, Malaysia

Columbia Asia Hospitals is a private healthcare company currently having 29 medical facilities across Asia; 12 in Malaysia, 11 in India, 3 in Vietnam, and 3 in Indonesia. The company provides healthcare services for families and businesses with 100 to 200 beds per medical facility, two-story buildings for smoother patient flow, and new medical technologies to decrease the levels of invasive treatments. Columbia Asia Hospitals was founded in 1996 and is based in Subang Jaya, Malaysia.

Buy $1.2B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-10-17 Victoria Plumb

Hull, United Kingdom

Victoria Plum provides a range of predominantly own-branded bathroom products, including bathroom suites, bathroom furniture and accessories. Victoria Plumb was founded in 1999 and is based in Hull, United Kingdom.

Sell -
SELLER

Koch Mineral Services

Wichita, Kansas, United States

Category Company
Founded 2001
Sector Transportation
DESCRIPTION

Koch Mineral Services LLC is a provider of marine transportation services.


DEAL STATS #
Overall 1 of 1
Sector (Metals/Mining) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Arkansas) 1 of 1
Country (United States) 1 of 1
Year (2019) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-01-01 Frac Chem

Lafayette, Louisiana, United States

Frac Chem, LLC is an oilfield chemical manufacturer & wholesale chemical supplier with an emphasis on hydraulic fracturing, stimulation and coil tubing chemistries. They offer standard & custom-formulated chemicals designed on a thorough evaluation of the customer’s needs.

Buy -