The non-ferrous metal producing industry in the U.S. focuses on metals such as aluminum, copper, brass, and lead. Companies in this sector range from large mining corporations to specialized manufacturers and recyclers. This industry is crucial for multiple applications in aerospace, automotive, and construction, and is experiencing a shift toward sustainability through the adoption of new technologies and recycling methods. As governments emphasize greener practices, the demand for non-ferrous metals is set to grow, driven partly by their essential use in electric vehicle batteries and renewable energy solutions. Insights reveal a trend toward increasing investments in innovative recycling initiatives.


This article explores 16 investors shaping the non-ferrous metal sector in the U.S. This varied group consists of corporate and private equity firms established in regions like New York and California, with firm sizes ranging from small to over 10,000 employees. Founded between 1939 and 2015, they made significant investments in the past year. The highest transactions came from investor types including venture capital and private equity. Notable investors like the Government of Canada and Goldman Sachs emphasize the ongoing financial commitment to non-ferrous metal production.


Top 16 Non Ferrous Metal Producing Investors in the US


1. Government of Canada

  • Website: canada.ca
  • Type: Corporate
  • Headquarters: Canada, Kentucky, United States (USA)
  • Founded year: 1999
  • Headcount: 10001+
  • Number of deals in 2024: 137
  • LinkedIn: government-of-canada

The Government of Canada is a public entity that provides a wide range of services and information to Canadian citizens and residents, addressing various needs including employment, immigration, health care, and taxation. Founded in 1999, it operates through multiple departments and agencies to ensure access to essential services and support for individuals and businesses across the country. In the context of non ferrous metal production, the Government of Canada has been involved in several significant transactions. For instance, it provided a grant of $8,499,399 to Rio Tinto in February 2024, and a grant of $3,400,000 to Canada Nickel Company in February 2025. Additionally, it supported Glencore Canada with a grant of $11,000,000 in May 2024. These transactions highlight the government's role in facilitating growth and development within the non ferrous metal sector, particularly through financial support to key industry players.


2. Advantage Capital


Advantage Capital is a venture capital firm based in New Orleans, Louisiana, founded in 1992. The firm specializes in providing equity and debt financing to small businesses across various sectors, including agribusiness, solar projects, and affordable housing. They focus on supporting entrepreneurs and businesses in underserved communities, offering flexible capital solutions to help them grow and thrive. Notably, Advantage Capital has been involved in financing transactions such as Missouri Cobalt, which raised debt financing in 2019, indicating their engagement in the non ferrous metals industry. Additionally, they have provided debt financing to companies like Roller Die + Forming and i3D MFG, showcasing their diverse investment portfolio while still maintaining a connection to the manufacturing and production sectors.


3. Breakthrough Energy


Breakthrough Energy is a not-for-profit organization founded in 2015, based in Kirkland, Washington, dedicated to accelerating the transition to a net-zero economy. They support innovative technologies and advocate for policies that promote clean energy solutions. Their investment portfolio includes significant contributions to companies in the non ferrous metal sector, such as Sortera Technologies, an AI-based metals recycling startup that has raised multiple funding rounds, including a recent Series C round of $30.5 million. Additionally, they have invested in Boston Metal, which raised $122 million in Series C funding to advance emissions-free steel production technology. These investments highlight Breakthrough Energy's active role in fostering advancements in the non ferrous metal industry, particularly in recycling and sustainable production methods.


4. Y Combinator

  • Website: ycombinator.com
  • Type: Venture Capital
  • Headquarters: San Francisco, California, United States (USA)
  • Founded year: 2005
  • Headcount: 51-200
  • Number of deals in 2024: 802
  • LinkedIn: y-combinator

Y Combinator is a prominent startup accelerator and venture capital firm based in San Francisco, California, founded in 2005. It specializes in providing funding and mentorship to early-stage technology companies, having successfully launched over 4,000 startups. Among its diverse portfolio, Y Combinator has made significant investments in the non-ferrous metal sector, including Maverick BioMetals, which raised $500,000 in a seed round in August 2022, and Impossible Mining, which secured $10.1 million in seed funding in June 2022 to develop technology for extracting battery metals. Additionally, they have invested in Impossible Metals, a company focused on environmentally friendly underwater collection of battery metals. These transactions highlight Y Combinator's engagement in the non-ferrous metal industry, complementing its broader focus on technology startups.


5. Orion Resource Partners (USA) LP


Orion Resource Partners (USA) LP is a private equity investment firm based in New York, specializing in metals and materials. Founded in 2004, the firm provides a range of investment solutions, including resource royalties and mine finance, primarily targeting institutional investors. Orion Resource Partners is committed to addressing challenges in the metals sector and promoting sustainable economic growth through tailored financial strategies. Notably, they have been involved in several significant transactions in the non-ferrous metal sector, including a $30 million post-IPO debt investment in Bushveld Minerals, a $25 million post-IPO equity investment in Horizonte Minerals, and a $50 million post-IPO debt investment in Nordic Mining. These transactions highlight their active role in supporting companies that are integral to the non-ferrous metal production industry.


6. MassVentures

  • Website: mass-ventures.com
  • Type: Venture Capital
  • Headquarters: Waltham, Massachusetts, United States (USA)
  • Founded year: 1978
  • Headcount: 1-10
  • Number of deals in 2024: 28
  • LinkedIn: massventures

MassVentures is a venture studio based in Waltham, Massachusetts, founded in 1978. It supports early-stage companies, particularly in deep tech innovation, by providing a range of funding options, including venture capital and grants, as well as business guidance and accelerator programs. Among their notable transactions, they have invested in Ascend Elements, which raised $20 million in a Series B round in 2021, focusing on sustainable battery materials and recycling, which is crucial for the non ferrous metals sector. Additionally, they have provided grants to companies like Phoenix Tailings and Alloy Enterprises, which are also involved in the non ferrous metal industry, indicating their active role in supporting innovation and commercialization in this field.


7. IFC - International Finance Corporation

  • Website: ifc.org
  • Type: Venture Capital
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1956
  • Headcount: 1001-5000
  • Number of deals in 2024: 107
  • LinkedIn: ifclinkedin

The International Finance Corporation (IFC) is a not-for-profit organization established in 1956, focused on fostering private sector development in emerging markets. Based in Washington, D.C., the IFC provides investment, advisory, and asset management services to businesses and financial institutions, helping them access capital and expertise to promote economic growth. The IFC operates in over 100 countries, addressing poverty and promoting sustainable development. Among its notable transactions, the IFC has invested in Sierra Rutile Limited, a rutile mining company, providing $60 million in equity funding to help the company double its production and extend its mine's life. Additionally, the IFC has invested in Assan Alüminyum Sanayi ve Ticaret, which raised $90 million in debt financing, indicating its involvement in the aluminum sector, a key non ferrous metal. These transactions highlight the IFC's active role in the non ferrous metal producing industry, alongside its broader investment strategy.


8. The Carlyle Group

  • Website: carlyle.com
  • Type: Private Equity
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1987
  • Headcount: 1001-5000
  • Number of deals in 2024: 25
  • LinkedIn: the-carlyle-group

The Carlyle Group Inc. is a prominent investment management firm founded in 1987, specializing in private equity, real assets, and private credit. With a global presence and a focus on driving long-term value for its clients, Carlyle serves a range of institutional investors, including pension funds and sovereign wealth funds. Among its notable transactions, Carlyle acquired Traxys S.A. in March 2014, which is involved in the trading and marketing of non-ferrous metals and minerals. This acquisition highlights Carlyle's strategic interest in the non-ferrous metals sector. Additionally, Carlyle's acquisition of Atotech in October 2016 for $3.2 billion further emphasizes its engagement in the industrials and manufacturing sector, which often intersects with non-ferrous metal production. Overall, Carlyle's diverse investment strategy includes significant stakes in industries relevant to non-ferrous metals, making it a noteworthy player in this field.


9. Ryerson

  • Website: ryerson.com
  • Type: Corporate
  • Headquarters: Chicago, Illinois, United States (USA)
  • Founded year: 1842
  • Headcount: 1001-5000
  • Number of deals in 2024: 1
  • LinkedIn: ryerson

Joseph T. Ryerson & Son, Inc., founded in 1842 and based in Chicago, Illinois, is a prominent metal processing and distribution company serving various industries, including transportation and industrial automation. Ryerson offers a wide range of metal products and processing services, ensuring timely delivery and customized solutions for its business customers. In recent years, Ryerson has made several strategic acquisitions to enhance its capabilities in the non-ferrous metal sector. Notably, in September 2022, they acquired Howard Precision Metals, a significant aluminum distributor in the Midwest, which bolstered their offerings in non-ferrous metals. Additionally, in August 2024, Ryerson acquired Production Metals, LLC, a distributor of aluminum, stainless, and specialty steels, further expanding their presence in the non-ferrous metal market. These transactions demonstrate Ryerson's commitment to enhancing its service offerings in the non-ferrous metal industry.


10. Reliance, Inc.

  • Website: reliance.com
  • Type: Corporate
  • Headquarters: Scottsdale, Arizona, United States (USA)
  • Founded year: 1939
  • Headcount: 10001+
  • Number of deals in 2024: 2
  • LinkedIn: reliance-rs

Reliance, Inc. is a corporate investor based in Scottsdale, Arizona, founded in 1939. The company operates as a metal solutions provider, specializing in a diverse range of metal products and processing services. Reliance serves various industries, including aerospace and automotive, by supplying high-quality materials and custom processing solutions. The company has expanded its capabilities through strategic acquisitions, including Metals USA in 2013 for $772 million, Airport Metals in 2012, National Specialty Alloys in 2012, Admiral Metals in 2021, and Sunbelt Steel Texas in 2012. These acquisitions enhance Reliance's portfolio in the non-ferrous metal sector, reinforcing its position as a key player in the industry.


11. Advent


Advent International Corporation is a private equity firm founded in 1984, based in Boston, Massachusetts. The firm specializes in buyouts and investments across various sectors, focusing on long-term value creation for its portfolio companies. Advent has been involved in significant transactions, including the acquisition of H.C. Starck in 2006, a company that produces advanced materials and non ferrous metals. In 2019, Advent also acquired Roehm, a company in the chemical sector, which may have applications in non ferrous metal production. These transactions highlight Advent's strategic involvement in industries related to non ferrous metals, alongside their broader investment portfolio.


12. Kkr

  • Website: kkr.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1976
  • Headcount: 1001-5000
  • Number of deals in 2024: 74
  • LinkedIn: kkr

KKR & Co. Inc. is a prominent investment firm based in New York, specializing in private equity, credit, infrastructure, and real estate. Founded in 1976, KKR has established itself as a global leader in asset management, providing tailored investment solutions to institutional and individual clients. Among their notable transactions, KKR acquired Hyperion Materials & Technologies, a company that focuses on advanced materials, including non-ferrous metals, from Sandvik in July 2018. Furthermore, KKR's acquisition of Grupo Gallardo Balboa in August 2019, a holding company for various steelmakers, further highlights their engagement in the metals sector. KKR's diverse investment portfolio and strategic acquisitions demonstrate their capability to navigate complex investment landscapes while supporting growth in the non-ferrous metal industry.


13. American Industrial Partners


American Industrial Partners is a private equity firm based in New York, specializing in operationally-oriented investments in industrial businesses. Founded in 2005, AIP focuses on enhancing the performance of its portfolio companies through strategic financial support and operational improvements. Notably, AIP has made significant strides in the non-ferrous metal sector, acquiring Aluminium Dunkerque, the largest primary aluminum foundry in Europe, in October 2021, and Aluminium Duffel, an aluminum rolling mill in Belgium, in June 2022. These acquisitions reflect AIP's commitment to investing in and optimizing operations within the non-ferrous metal industry, alongside their other industrial investments.


14. The Riverside Company


The Riverside Company is a private equity investment firm based in New York, specializing in providing flexible capital solutions and strategic guidance to smaller middle-market businesses across various industries. Founded in 1988, Riverside has built a diverse portfolio of over 140 companies globally. Among its notable transactions, Riverside acquired Future Metals in 1989, which is involved in the non ferrous metals sector, highlighting their engagement in this industry. Additionally, their acquisition of Keycast in 2007, while primarily focused on steel casting, demonstrates their broader interest in the metals sector. Other acquisitions, such as Trend Technologies, DuBois, and Harvey Tool, further illustrate Riverside's strategy of investing in companies that may intersect with the metal production industry, although they are not exclusively non ferrous metal producers.


15. Apollo Global Management, Inc.

  • Website: apollo.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1990
  • Headcount: 1001-5000
  • Number of deals in 2024: 46
  • LinkedIn: apollo-global-management-inc

Apollo Global Management, Inc. is an asset management firm specializing in alternative assets and retirement solutions. Founded in 1990 and based in New York, the firm manages a diverse portfolio of investments across credit, private equity, and real assets. Apollo serves institutional investors, corporations, and individual clients seeking financial security and growth. Notably, Apollo has made significant investments in the non ferrous metals sector, including the acquisition of Metals USA in 2005, which specializes in metal processing and distribution. In 2023, they acquired Arconic for $5.2 billion, a company known for its aluminum products and solutions, further solidifying their footprint in the non ferrous metals industry. Additionally, their acquisition of Phoenix Services in 2017 highlights their involvement in metal reclamation services, showcasing their commitment to the metals sector. More recently, Apollo acquired MAFTEC in 2021 and Barnes in 2024, both of which contribute to their diverse portfolio in the metals and materials space.


16. Goldman Sachs

  • Website: goldmansachs.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1998
  • Headcount: 10001+
  • Number of deals in 2024: 59
  • LinkedIn: goldman-sachs

Goldman Sachs is a prominent investment bank and financial services firm based in New York, founded in 1998. It provides a wide range of services including investment banking, asset management, and wealth management, catering to a diverse clientele that includes corporations, financial institutions, and individuals. In recent years, Goldman Sachs has been involved in various transactions that highlight its engagement in the non ferrous metal sector. Notably, it participated in a C$23 million funding round for Frontier Lithium, which is focused on lithium exploration and development, a critical component in the non ferrous metals industry. Additionally, Goldman Sachs played a role in Northvolt's $1.2 billion convertible note funding, which is significant for the production of batteries that utilize non ferrous metals. These transactions demonstrate Goldman Sachs' active involvement in financing the non ferrous metal industry, alongside its broader investment activities.



Non Ferrous Metal Producing Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
Government of CanadaCanada, Kentucky, United States (USA)10001+1999137
Advantage CapitalNew Orleans, Louisiana, United States (USA)51-20019925
Breakthrough EnergyKirkland, Washington, United States (USA)51-200201538
Y CombinatorSan Francisco, California, United States (USA)51-2002005802
Orion Resource Partners (USA) LPNew York, New York, United States (USA)51-20020043
MassVenturesWaltham, Massachusetts, United States (USA)1-10197828
IFC - International Finance CorporationWashington, D.C., District Of Columbia, United States (USA)1001-50001956107
The Carlyle GroupWashington, D.C., District Of Columbia, United States (USA)1001-5000198725
RyersonChicago, Illinois, United States (USA)1001-500018421
Reliance, Inc.Scottsdale, Arizona, United States (USA)10001+19392
AdventBoston, Massachusetts, United States (USA)501-1000198417
KkrNew York, New York, United States (USA)1001-5000197674
American Industrial PartnersNew York, New York, United States (USA)51-20020058
The Riverside CompanyNew York, New York, United States (USA)201-500198812
Apollo Global Management, Inc.New York, New York, United States (USA)1001-5000199046
Goldman SachsNew York, New York, United States (USA)10001+199859


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