Who We AreCorsair Elements is an independent sponsor acquisitions firm focused on metals markets across the full commodity spectrum. Our principal has a decade of operating experience in physical trading, commodity derivatives, and structured risk management, with prior institutional roles spanning…
Who We Are
Corsair Elements is an independent sponsor acquisitions firm focused on metals markets across the full commodity spectrum. Our principal has a decade of operating experience in physical trading, commodity derivatives, and structured risk management, with prior institutional roles spanning metal and recycleables processing, trading, derivatives trading and metals brokerage.
We source and execute control acquisitions in metals production, processing, recycling, and distribution.
What We Acquire
We focus on businesses where commodity exposure, processing capacity, or supply chain position creates structural value not fully captured in a standard earnings multiple. We pursue control buyouts, management buyouts, and partial recapitalizations, with a preference for owner-operator transitions driven by retirement, succession gaps, or operational complexity that has outgrown current ownership.
Sectors We Cover
Ferrous. Scrap collection, processing, and distribution. Specialty steel and alloy distribution. Ferrous toll processing and shredding operations.
Non-Ferrous. Secondary aluminum, copper, zinc, and lead processing. Non-ferrous scrap dealers with established downstream relationships. Metal-bearing industrial waste recovery with identifiable reclaim value.
Precious Metals and PGMs. Refining, assaying, and toll refining operations. Catalyst and autocatalyst recovery. Precious metal reclaim from industrial and electronic scrap streams.
Critical Minerals and Advanced Metallics. Processing and beneficiation of critical mineral feedstocks. Specialty alloy production serving defense, energy, or advanced manufacturing end-markets. Domestic producers or processors of materials on the USGS Critical Minerals list.
Our Edge
Metals businesses carry operating complexity that requires direct market experience to evaluate accurately. Working capital cycles are driven by commodity price, inventory duration, and settlement timing. Processing margins are sensitive to feedstock quality, conversion costs, and offtake structure. Supply chain position, whether captive feedstock, tolling arrangements, or contracted downstream access, often represents the core of a business’s durable value.
We also bring an active network of trading counterparties, logistics operators, trade financiers, and end-market buyers across the metals supply chain. For the right acquisition, those relationships are immediately accretive.
What We Look For
Beyond the financial profile, we are drawn to businesses with a defined supply chain position: captive feedstock, exclusive supplier relationships, or proprietary input access. Processing capability that is difficult to replicate quickly. Established customer relationships with meaningful switching costs. Exposure to structural demand tailwinds including domestic manufacturing, defense supply chains, energy transition materials, or recycled content mandates.
