Features

Private-equity firm FalconPoint buys industrial services provider SMS

Written by Ethan Bernard

September 3, 2025

Private-equity firm FalconPoint Partners has acquired SMS, an industrial service provider.

FalconPoint has committed $500 million to support the platform’s growth with state-of-the-art equipment and grow its market share.

It noted the acquisition is a carve-out of various operating segments of Scrap Metal Services LLC, a global metals recycler headquartered in Chicago.

Founded in 2008, SMS is a provider of outsourced services. These include site environmental services and scrap and slag management to steel mills in the US, Europe, and South America.

“This partnership comes at a pivotal time for the global steel industry, as manufacturing reshoring and supply chain initiatives drive significant investment in steel production capabilities across the US and Europe,” Russ Gehrett, founder and managing partner at FalconPoint, said in a statement on Aug. 26.

The New York-based private equity firm is focused on investing in North American middle market companies in the business services and industrials sectors.

SMS also provides marine vessel decommissioning services to the United States Maritime Administration, as well as other commercial maritime companies.

Ethan Bernard

Ethan Bernard is managing editor for Steel Market Update. He previously worked for American Metal Market as a copy editor in the New York office for two years, starting in 2008. Later, he copy edited AMM’s monthly magazine on a freelance basis from 2015 until 2017. With experience in financial copywriting and textbook publishing, he holds a BA in Comparative Literature from UC Berkeley, and an MFA. in Creative Writing from New York University. He can be reached at ethan@steelmarketupdate.com or 724-759-7871.

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