Features
SunCoke buys Phoenix Global in deal for $325M
Written by Ethan Bernard
May 29, 2025
SunCoke Energy has purchased Phoenix Global, a metals and mining services company, for $325 million.
Lisle, Ill.-based SunCoke said it has acquired all of the common units of Flame Aggregator LLC, which together with its subsidiaries operates as Radnor, Pa.-based Phoenix Global, a privately held firm.
SunCoke, a raw material processing and handling company, noted it will fund the transaction with existing cash and availability under its undrawn revolving credit facility.
Additionally, SunCoke said the Phoenix buy will allow it to diversify into electric arc furnace operations, including carbon steel and stainless steel mills. And Phoenix’s global footprint will add international markets to SunCoke’s portfolio.
“The acquisition of Phoenix is an excellent strategic fit for SunCoke, as it expands and diversifies our customer base and enhances our capabilities as a supplier of industrial services to steelmaking customers,” Katherine T. Gates, president and CEO of SunCoke, said in a statement on Wednesday.
The transaction is expected to be completed during the second half of 2025. It is subject to meeting customary closing conditions.
Ethan Bernard
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