Carl Marks Securities Guides Roane Metals Group Through Sale to Commercial Metals Company

Carl Marks Securities LLC, an affiliate of middle market investment bank Carl Marks Advisors (together “Carl Marks”), today announced that it advised Roane Metals Group (“Roane Metals” or the “Company”), a scrap metal recycling facility, on the sale of the business to Commercial Metals Company (NYSE: CMC). Financial terms of the private transaction were not disclosed.

Founded in 2004, Roane Metals is an industry leading ferrous and non-ferrous metals recycling company headquartered in Rockwood, Tennessee. The Company specializes in the purchase, processing, and sale of scrap metals from industrial, commercial, and individual sources. Despite supply chain and labor hurdles experienced during the pandemic, leadership at Roane Metals successfully navigated the Company through these difficulties, even increasing the volume of metals processed every year.

“We are very pleased by the outcome of the sale of Roane Metals to Commercial Metals,” said Chris Parisi, Partner at Carl Marks Advisors, who worked directly on the deal. “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.”

The sale of Roane Metals underscores Carl Marks’ ability to partner with and provide critical guidance to privately-held businesses at critical moments of inflection. Notwithstanding the scrap metal recycling industry experiencing seven consecutive months of decreasing prices, Carl Marks was able to maintain its buyer’s initial offer and close the sale in a way that benefited the Company and stakeholders alike.

“We engaged with Carl Marks due to its longstanding history of helping privately-held businesses navigate the sale of their businesses and their knowledge of our industry,” said Luke Wyatt, co-owner of Roane Metals. “Through challenging times and unprecedented price drops in the scrap metal recycling industry, Carl Marks continued to give us their full attention and support to ensure the successful sale of the business.”

About Carl Marks Securities

Carl Marks Securities LLC, the broker-dealer affiliate of Carl Marks Advisory Group LLC (Carl Marks Advisors), provides financial advisory services related to private placement of debt and equity capital. Serving middle market companies, Carl Marks Securities LLC provides a broad range of capital market alternatives as they seek financing for growth, mergers or acquisitions, restructurings or other purposes. Carl Marks Securities LLC is a member FINRA and SIPC. Additional information about Carl Marks Securities LLC can be found at www.carlmarkssecurities.com and Carl Marks Advisory Group LLC is available at www.carlmarksadvisors.com.

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