The metal manufacturing industry in the U.S. plays a crucial role in producing essential components for many sectors, including construction, automotive, and aerospace. This industry encompasses a range of companies that engage in forging, stamping, casting, and finishing metal products. Demand for advanced materials is rising, driven by innovative technologies and sustainability initiatives. As industries shift toward greener practices, metal manufacturers are adapting by investing in recycling and renewable energy. This evolution is not only sharpening operational efficiencies but is also creating opportunities for growth in emerging markets, setting the stage for robust industry dynamics in the coming years.


The investors listed here reflect a mix of corporate, venture capital, and private equity firms primarily based in major U.S. cities like New York and Washington, D.C. Established between 1939 and 2023, these investors vary in size and capacity, with many managing substantial funds and engaging in dozens of deals in 2024. Notably, institutions such as KKR and the U.S. Department of Energy stand out for their significant contributions to the metal manufacturing sector. With 17 key players identified, each brings unique strategies and insights that influence the industry’s future.


Top 17 Metal Manufacturing Investors in the US


1. U.S. Department of Energy (DOE)

  • Website: energy.gov
  • Type: Corporate
  • Headquarters: Washington, D.C., District Of Columbia, United States (USA)
  • Founded year: 1977
  • Headcount: 10001+
  • Number of deals in 2024: 597
  • LinkedIn: u-s--department-of-energy

The U.S. Department of Energy (DOE) is a public entity established in 1977, located in Washington, D.C. It is responsible for overseeing national energy policy, energy production, and nuclear power research. The DOE serves various stakeholders, including government entities and the public, by providing guidance on energy efficiency, funding opportunities, and conducting research to address energy challenges. In 2024, the DOE has been actively involved in the metal manufacturing sector, providing substantial grants to several prominent companies. Notable transactions include a $400,000 grant to Nucor Corporation, a $400,000 grant to Carpenter Technology, a $500 million grant to SSAB, and a $575 million grant to Cleveland Cliffs. These investments highlight the DOE's commitment to supporting the metal manufacturing industry and fostering innovation within this sector.


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. Notably, Advantage Capital has made significant investments in the metal manufacturing industry, with transactions such as Advanced Metal Components, which raised an undisclosed amount in debt financing in May 2019, and multiple rounds of debt financing for Roller Die + Forming, totaling over $7 million from 2012 to 2014. Additionally, they supported Thiel Tool & Engineering with a $1.6 million debt financing in March 2011. These transactions highlight Advantage Capital's role in facilitating growth and innovation within the metal manufacturing sector, while also focusing on underserved communities.


3. 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 needs such as 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 recent years, the Government of Canada has engaged in several transactions relevant to the metal manufacturing industry, including grants to companies like Canada Nickel Company, which raised $3,400,000, and Marcon Custom Metals, which received an undisclosed amount. Additionally, it provided debt financing of $2,800,000 to FjordAl Aluminium inc. These transactions highlight the government's role in supporting the growth and development of the metal manufacturing sector in Canada.


4. 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 diverse range of institutional investors, including pension funds and sovereign wealth funds. Among its notable transactions, Carlyle acquired Forgital Group in May 2019 for $1 billion, a company known for its forged metal products, highlighting its commitment to the metal manufacturing sector. Additionally, the acquisition of Atotech for $3.2 billion in October 2016 further underscores Carlyle's investment strategy in the industrial and manufacturing sectors, particularly in companies that provide essential services and products related to metal processing. Other relevant acquisitions include Paradigm Precision and Universal Industrial Sales, which also align with their focus on manufacturing and industrial operations.


5. 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. Notably, Riverside has made significant investments in the metal manufacturing sector, including the acquisition of Future Metals in 1989, which marked their entry into the industry. In 2007, they acquired Keycast, a Nordic manufacturer focused on steel casting, further solidifying their presence in the metal sector. Additionally, their acquisition of Trend Technologies in 1997 showcases their ongoing interest in companies that operate within the metal manufacturing space. These transactions highlight Riverside's capability and commitment to fostering growth in the metal manufacturing industry, alongside their broader investment strategy.


6. 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., commonly known as Ryerson, is a corporate investor based in Chicago, Illinois, specializing in metal processing and distribution. Founded in 1842, Ryerson serves various industries, including transportation and industrial automation, by offering a comprehensive range of metal products and processing services. The company has been actively expanding its operations through strategic acquisitions, such as the acquisition of Central Steel & Wire Co. for $140 million, which significantly bolstered their market presence. Additionally, Ryerson acquired Southern Tool Steel to enhance its service capabilities in the Southeast, and Norlen Incorporated, further diversifying its offerings. These transactions highlight Ryerson's commitment to strengthening its position as a leading player in the metal manufacturing industry.


7. 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 provides asset management solutions to institutional investors and individual clients, helping them navigate complex investment landscapes and achieve strong financial returns. Notably, KKR has made significant investments in the metal manufacturing sector, including the acquisition of Grupo Gallardo Balboa, a Spain-based holding company for various steelmakers, which was approved by the European Commission in August 2019. Additionally, KKR acquired Hyperion Materials & Technologies from Sandvik in July 2018, further solidifying its presence in the materials sector. These transactions highlight KKR's strategic interest in the metal manufacturing industry, alongside its broader investment portfolio.


8. Deep Tech Fund (an Alumni Ventures Fund)

  • Website: av.vc
  • Type: Venture Capital
  • Headquarters: Manchester, New Hampshire, United States (USA)
  • Founded year: 2023
  • Headcount: 51-200
  • Number of deals in 2024: 258
  • LinkedIn: deep-tech-fund-av-focused-fund

Deep Tech Fund (an Alumni Ventures Fund) is a venture capital firm based in Manchester, New Hampshire, founded in 2023. It provides accredited investors and institutions with access to professionally-managed, diversified venture portfolios, leveraging a network of over 10,000 investors to connect them with high-quality investment opportunities in the startup ecosystem. The fund has been involved in several significant transactions, including a $32 million Series B investment in Machina Labs, which focuses on advanced manufacturing technologies. Additionally, the fund has participated in multiple funding rounds for Divergent Technologies, a company that is scaling its DAPS process across automotive, aerospace, and defense production, indicating a strong interest in the metal manufacturing sector. Their investment in ARRIS, an advanced manufacturer, further emphasizes their commitment to supporting companies within the manufacturing landscape.


9. 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. In 2024, they have made 38 investments, focusing on businesses and organizations in the clean energy sector. Notably, Breakthrough Energy Ventures has invested in Boston Metal, which raised $122 million in Series C funding to advance emissions-free steel production, and Sortera Technologies, which raised $30.5 million in Series C funding to enhance metals recycling operations. These transactions highlight their active role in the metal manufacturing industry, particularly in promoting sustainable practices and technologies.


10. 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 their portfolio companies through strategic financial support and operational improvements. Notably, AIP has made significant investments in the metal manufacturing sector, including the acquisition of Commonwealth Rolled Products in December 2020, 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 transactions highlight AIP's commitment to optimizing operations and driving growth within the metal manufacturing industry, making them a relevant player in this sector.


11. 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. As a leading metal solutions provider, Reliance specializes in a diverse array of metal products and processing services, catering to industries such as aerospace and automotive. The company operates through a network of subsidiaries, ensuring efficient distribution and customer service. Notably, Reliance has made several key acquisitions in the metal manufacturing sector, including the acquisition of Metals USA for $772 million in 2013, which significantly expanded its product offerings. In 2016, Reliance Steel & Aluminium Co. reached an agreement to acquire Tubular Steel, a distributor and processor of steel products, further solidifying its position in the market. Additionally, Reliance has acquired Admiral Metals and Nu-Tech Precision Metals in December 2021, showcasing its ongoing commitment to growth and innovation in the metal manufacturing industry. These transactions highlight Reliance's strategic focus on enhancing its capabilities and service offerings within the metal sector.


12. Lincoln Electric

  • Website: lincolnelectric.com
  • Type: Corporate
  • Headquarters: Cleveland, Ohio, United States (USA)
  • Founded year: 1895
  • Headcount: 10001+
  • Number of deals in 2024: 3
  • LinkedIn: lincoln-electric

Lincoln Electric Holdings, Inc. is a leading manufacturer of welding products and equipment, serving various industries including automotive and construction. Founded in 1895 and based in Cleveland, Ohio, the company has a global presence and offers a wide range of products such as welding machines, cutting equipment, and safety gear. Lincoln Electric is actively involved in the metal manufacturing sector, as evidenced by its strategic acquisitions aimed at expanding its product portfolio. Notable transactions include the acquisition of J.W. Harris Co., a manufacturer of brazing and soldering alloys, and Weartech International, which produces cobalt-based hard facing and wear-resistant welding consumables. These acquisitions, along with the purchase of Kestra, a Brazilian company specializing in specialty welding consumables, highlight Lincoln Electric's focus on enhancing its capabilities in the metal manufacturing industry. Their commitment to improving productivity and safety in manufacturing processes further underscores their relevance in this sector.


13. Khosla Ventures

  • Website: khoslaventures.com
  • Type: Venture Capital
  • Headquarters: Menlo Park, California, United States (USA)
  • Founded year: 2004
  • Headcount: 51-200
  • Number of deals in 2024: 97
  • LinkedIn: khosla-ventures

Khosla Ventures is a venture capital firm founded in 2004 and based in Menlo Park, California. The firm specializes in providing funding and venture assistance to startups, particularly in technology, healthcare, and sustainability sectors. Khosla Ventures supports entrepreneurs with resources and strategic guidance to help them navigate the challenges of building their businesses. Notably, Khosla Ventures has made significant investments in the metal manufacturing sector, including participation in funding rounds for Digital Alloys, which raised $12.9 million in Series B financing for developing high-speed, multi-metal additive manufacturing systems, and Velo3D, which raised $155 million in Post-IPO equity and has received multiple rounds of funding from Khosla Ventures. These transactions highlight Khosla Ventures' engagement in advancing technologies within the metal manufacturing industry.


14. Advent


Advent International Corporation is a private equity firm founded in 1984 and 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 a global presence and partners with companies to provide capital and strategic guidance to help them achieve growth and navigate market challenges. Notably, Advent has made significant investments in the metal manufacturing sector, including the acquisition of H.C. Starck in 2006, a company recognized for its production of advanced materials and metal powders. Additionally, they acquired Pemco International, which specializes in manufacturing metal components. These transactions highlight Advent's active role in the metal manufacturing industry, alongside their broader investment strategy.


15. Wynnchurch Capital, L.P.

  • Website: wynnchurch.com
  • Type: Private Equity
  • Headquarters: Rosemont, Illinois, United States (USA)
  • Founded year: 1999
  • Headcount: 11-50
  • Number of deals in 2024: 6
  • LinkedIn: wynnchurch-capital

Wynnchurch Capital, L.P. is a private equity firm based in Rosemont, Illinois, specializing in investments in middle-market companies across diverse industries. Founded in 1999, the firm provides capital, management expertise, and strategic guidance to help businesses navigate challenges and achieve growth. Wynnchurch's focus includes sectors such as aerospace, manufacturing, and consumer goods. Notably, they have made significant investments in the metal manufacturing sector, including the acquisition of Champion Iron, which raised $30 million in post-IPO equity and operates in the iron and steel industry. Additionally, they acquired Astro Shapes, a manufacturer of custom aluminum extrusions, further solidifying their presence in the metal manufacturing space. Other relevant transactions include their investment in Eastern Metal Supply and the acquisition of Detroit Tool Metal Products Co., showcasing their commitment to supporting and growing businesses within the metal manufacturing industry.


16. KPS Capital Partners

  • Website: kpsfund.com
  • Type: Private Equity
  • Headquarters: New York, New York, United States (USA)
  • Founded year: 1991
  • Headcount: 51-200
  • Number of deals in 2024: 5
  • LinkedIn: kps-capital-partners

KPS Capital Partners is a private equity firm based in New York, specializing in investments in manufacturing and industrial companies. Founded in 1991, KPS focuses on enhancing the competitiveness and profitability of its portfolio through strategic investments and operational improvements. The firm has been actively involved in the metal manufacturing sector, with notable transactions including the acquisition of Siderforgerossi Group, a global manufacturer of large diameter forged products, and Metra, a manufacturer of extruded aluminum profiles. Additionally, KPS acquired Hussey Copper, a specialty metals producer, which further solidifies their presence in the metal manufacturing industry. Their approach involves not only providing capital but also leveraging their expertise to help businesses grow and modernize their operations, making them a significant player in the metal manufacturing investment landscape.


17. 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 founded in 1990, based in New York, specializing in alternative assets and retirement solutions. The firm manages a diverse portfolio across credit, private equity, and real assets, catering to institutional investors, corporations, and individual clients. Notably, Apollo has made significant investments in the metal manufacturing sector, including the acquisition of Metals USA in 2005, Arconic in 2023 for $5.2 billion, and Phoenix Services, a provider of outsourced slag handling and metal reclamation services, in 2017. These transactions highlight Apollo's commitment to the metal industry, alongside its broader investment strategy focused on empowering retirees and providing innovative capital solutions.



Metal Manufacturing Insights: Key Investors in the US


InvestorHeadquarterSizeFoundedDeals 2024
U.S. Department of Energy (DOE)Washington, D.C., District Of Columbia, United States (USA)10001+1977597
Advantage CapitalNew Orleans, Louisiana, United States (USA)51-20019925
Government of CanadaCanada, Kentucky, United States (USA)10001+1999137
The Carlyle GroupWashington, D.C., District Of Columbia, United States (USA)1001-5000198725
The Riverside CompanyNew York, New York, United States (USA)201-500198812
RyersonChicago, Illinois, United States (USA)1001-500018421
KkrNew York, New York, United States (USA)1001-5000197674
Deep Tech Fund (an Alumni Ventures Fund)Manchester, New Hampshire, United States (USA)51-2002023258
Breakthrough EnergyKirkland, Washington, United States (USA)51-200201538
American Industrial PartnersNew York, New York, United States (USA)51-20020058
Reliance, Inc.Scottsdale, Arizona, United States (USA)10001+19392
Lincoln ElectricCleveland, Ohio, United States (USA)10001+18953
Khosla VenturesMenlo Park, California, United States (USA)51-200200497
AdventBoston, Massachusetts, United States (USA)501-1000198417
Wynnchurch Capital, L.P.Rosemont, Illinois, United States (USA)11-5019996
KPS Capital PartnersNew York, New York, United States (USA)51-20019915
Apollo Global Management, Inc.New York, New York, United States (USA)1001-5000199046


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