PMCF Advises Metropolitan Alloys Corporation and Aluminum Recovery Technologies on Their Sale to Metal Conversions

PMCF Investment Banking (“PMCF”) is pleased to announce it served as the exclusive investment banker to Metropolitan Alloys Corporation (“Metro Alloys”) and Aluminum Recovery Technologies, Inc. (“ART”) (collectively, the “Companies”) in their sale to Metal Conversions, Ltd. (“Metal Conversions”).

Headquartered in Detroit, Michigan, Metro Alloys is a premier supplier of high-quality zinc anodes and alloys to the die casting, galvanizing, and electroplating industries in addition to critical aluminum deox products to some of the largest global steelmakers. Founded in 1941, Metro Alloys built an 85-year reputation for superior product quality and reliable service. Based in Kendallville, Indiana, ART has over 25 years of operating history as a leading aluminum toll processor serving a diverse industrial customer base across the Midwest.

Metal Conversions is a highly regarded scrap metal recycling and tolling operator headquartered in Westerville, Ohio. Formed in 1997, Metal Conversions specializes in non-ferrous scrap metal trading and secondary smelting and operates a full-service scrap yard in Mansfield, Ohio. Metal Conversions is recognized for its innovative concepts in secondary aluminum foundry alloys and its commitment to superior customer service.

PMCF served as the exclusive investment banker to Metro Alloys and ART, managing the entire transaction process. “We are extremely pleased with the outcome of this transaction and have found the ideal partner in Metal Conversions to steward the legacy of these two companies,” said Gil Spilman, President and Owner of Metro Alloys and ART. “PMCF’s deep expertise in the manufacturing and metals sector was critical to successfully navigating the process. Eddie and his team were trusted partners from start to finish, helping us achieve an outcome that benefits our shareholders, employees and our customers.”

Steve Senser, CEO of Metal Conversions, remarked, “The acquisition of Metro Alloys and ART represents a meaningful milestone in our strategic growth plan. By combining their specialized zinc and aluminum manufacturing and processing capabilities with our established scrap trading and smelting platform, we are well-positioned to offer a more comprehensive set of solutions to the aluminum and zinc markets. We look forward to building on the strong foundation that Gil and his team have developed over many decades.”

“It was a privilege to advise Gil and the shareholders through the process and help secure a partner that recognizes the unique value of the Metro Alloys and ART platforms,” added Eddie Zukowski, Director at PMCF. “We are excited to see the combined organization thrive under Metal Conversions leadership.”

The transaction closed in April 2026. Maddin Hauser Roth & Heller P.C. served as the legal advisor to the Companies.