Metals recycling is no longer a niche corner of industrial M&A. It is becoming a strategic battleground, driven by reshoring, supply chain security, higher precious metal prices, and a wave of new entrants looking for durable platforms.
This update summarizes key industry themes we are seeing across the metals recycling landscape, plus practical implications for founders, operators, and investors heading into 2026. If you want to connect the dots to your own transaction goals, start with Triscend’s services and our process.
A renewed focus on domestic supply chains is driving investment in downstream processing and smelting capacity. Buyers are paying closer attention to assets that can support secure, local feedstock supply and domestic refinement, especially for metals that matter to manufacturing, electronics, aerospace, and defense.
One clear signal is the buildout of large-scale US processing capacity. Aurubis has expanded its US footprint with a major multimetal recycling facility in Richmond, Georgia, designed to process complex recycling materials like circuit boards and copper cable. You can read Aurubis’ announcement here: Aurubis Richmond multimetal recycling plant.
In parallel, Korea Zinc has announced plans for a large critical minerals smelter project in Tennessee, with phased activity planned through the end of the decade. Korea Zinc’s release is here: Korea Zinc Tennessee smelter plan.
Mining companies are facing declining ore grades, and that reality changes strategic planning. Recycling becomes a pathway to secure feedstock, stabilize supply, and diversify exposure away from pure extraction economics.
We are seeing more examples of mining-related strategics expanding into recycling footprints and secondary feed innovation. That often shows up as acquisitions of recycling assets, partnerships tied to e-scrap, and investment in downstream processing capabilities that are less dependent on traditional ore supply.
Private equity funds, family offices, and capital sponsors that were not historically focused on metals recycling are now taking the sector seriously. The logic is straightforward: domestic supply chain resilience, reduced reliance on conflict-zone sourcing, and growing demand for recycled inputs as industrial customers tighten procurement standards.
In practical terms, this means more buyer types, more capital competing for quality platforms, and a higher premium on disciplined storytelling. Operators with differentiated capabilities, clear feedstock strategy, strong compliance, and repeatable margins are more likely to stand out in a crowded buyer universe.
On November 18, 2025, Auris Noble was acquired by Jacob Metal Group. Triscend Partners served as the exclusive sell-side advisor to Auris Noble. If you want the transaction overview, start here:
This deal reflects a pattern we expect to continue: global acquirers seeking a US presence, stronger access to feedstock, and teams with specialized processing capabilities that translate across markets.
Another signal is strategic buyers expanding recycling footprints to complement mining exposure. Sibanye-Stillwater announced its agreement to acquire US metals recycler Metallix in July 2025, emphasizing the role of recycling within its broader roadmap. See the announcement here: Sibanye-Stillwater Metallix transaction page.
Refining and recovery capacity remains a pressure point in the market, especially during periods of elevated precious metal prices. In late 2025, Metalor shared an update related to the acquisition of Gannon & Scott, highlighting the strategic value of vertical integration and capacity. Metalor’s release is here: Metalor press release.
Consolidation is elevated and buyer appetite remains active across strategics and investors. The key question is less about whether deals continue, and more about where premiums concentrate. Expect continued competition around assets that control feedstock, prove compliance, and demonstrate defensible processing capabilities.
Higher precious metal prices and renewed interest in metals are influencing trading behavior and sourcing strategies. That can ripple into M&A when traders, processors, and value chain participants look for tighter access to supply and offtake stability.
Strategic materials are getting more attention from the public sector, and that can influence capital flows and pricing. When government incentives, procurement, stockpiling, or partnership structures enter the market, it can accelerate investment, and it can distort competitive dynamics.
Technology upgrades in optics, sorting, AI, and automation are improving yields and expanding what processors can handle economically. For operators, that raises a practical question: will upstream collectors and pre-processors capture more margin by producing more homogenous feeds for downstream processing?
When precious metal prices rise, lower-grade metal-bearing scrap that was previously uneconomical can come online. That creates opportunity, and it adds pressure to capacity. It can also change how recyclers prioritize feedstock and where they invest next.
If you are early in the journey, start with our process. If you are already considering timing and positioning, explore sell-side advisory.
Triscend supports buyers through target development, outreach, negotiation, diligence, and integration planning. See buy-side advisory for details.
Triscend Partners is a high-touch M&A advisory firm focused on family and founder-owned businesses, with deep expertise in Specialty Materials, including metals and recycling. We work with a limited number of clients at a time, which keeps the process strategic, responsive, and built around your goals.
Next step: If you are evaluating options, planning for an exit, or exploring acquisitions, reach out here: Contact Triscend Partners.
Strategic demand for secure domestic supply, increasing complexity of processing, and the value of scaled platforms are bringing more buyers into the market, which accelerates consolidation.
Start with clean financial reporting, documented compliance and safety programs, a clear feedstock strategy, and a compelling positioning narrative that aligns with the right buyer universe.
Timelines vary based on readiness, complexity, and buyer set, yet many lower middle-market sell-side processes run several months from preparation through close. Early diligence preparation usually shortens timelines and reduces risk.
Disclaimer: This content is provided for informational purposes only and does not constitute legal, tax, investment, or financial advice. Transaction outcomes and market conditions vary by company and timing.
