FalconPoint Partners Announces Acquisition of SMS

Acquisition to Provide Significant Growth Capital to Further Support the Fastest-Growing Business in the Industry

NEW YORK, Aug. 26, 2025 /PRNewswire/ -- FalconPoint Partners ("FalconPoint"), a private equity firm focused on investing in North American middle market companies in the business services and industrials sectors, today announced its acquisition of SMS, a high-growth industrial services business. FalconPoint has committed $500 million to support the platform's unmatched growth, market share gains and buildout of new and existing customer sites with state-of-the-art equipment.

Founded in 2008, SMS is a leading provider of outsourced services, including site environmental services and scrap and slag management, to steel mills within the United States, Europe, and South America; SMS also provides marine vessel decommissioning services to the United States Maritime Administration along with other commercial maritime companies. The business is led by a highly experienced management team, including Chief Executive Officer Jeremy Kirchin, who joined SMS in 2016.

The investment underscores FalconPoint's commitment to investing in businesses that provide mission-critical products and services across essential sectors in the United States and globally. FalconPoint will provide capital and expertise to build on SMS' established strengths, including a high-touch service model and industry-leading safety record, while enabling the business to invest meaningfully in growth drivers – including expanded commercial capabilities, modernized technology infrastructure, and an actionable pipeline of acquisition targets.

"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 U.S. and Europe," said Russ Gehrett, Founder and Managing Partner at FalconPoint.

Andrew Singer, Co-founder and Chief Investment Officer at FalconPoint, added, "SMS is a singular player in this sector, driving industry-leading growth while also investing meaningfully in its sustainability practices and safety infrastructure. This acquisition represents a tremendous opportunity to invest in the qualities that have made SMS a unique, high-performing business, while leveraging our capital and operational expertise to support the business in capturing significant upside potential. We look forward to working closely with Jeremy and the entire team at SMS to continue to create long-term value for customers, employees, and investors."

"Since day one, SMS has been motivated by the excellence and expertise necessary to reliably deliver best-in-class steel mill services and marine decommissioning capabilities to our valued customers," said Mr. Kirchin. "I am extraordinarily proud of how we have delivered on that promise, reflected in SMS' perfect customer retention record since the company's founding. Our partnership with FalconPoint is the right next step for SMS, and I believe that together we are better positioned than ever to continue investing behind our customers' operations and elevating our commitment to integrity, safety, and quality."

The acquisition is a carve-out of various operating segments of Scrap Metal Services LLC, extending FalconPoint's track record of creating value through successfully identifying and executing on complex carve-outs and investment opportunities.

Moelis & Company LLC served as financial advisor to FalconPoint, and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to FalconPoint. Headwall Partners LLC served as financial advisor to Scrap Metal Services LLC, and Levenfeld Pearlstein, LLC served as legal advisor to Scrap Metal Services LLC.

About FalconPoint Partners
FalconPoint is a private equity firm that invests in North American mid-market companies in the business services and industrial sectors. The firm leverages a network of relationships and a partnership-oriented approach to identify and execute on transformative growth opportunities at companies that provide mission-critical products and services. For more information, please visit www.falconpointpartners.com.

About SMS
SMS is a leading provider of a comprehensive suite of outsourced steel mill services, including site environmental services, scrap and slag management, raw materials handling and processing, and slag handling and treatment in the United States, Europe, and South America. SMS also provides marine vessel decommissioning services to the United States Maritime Administration along with other commercial maritime companies. Since its inception, SMS has been built around its long-term customer relationships, leveraging innovative technology and best-in-class equipment and asset management programs to deliver reliability, efficiency, and productivity across a full range of services. For more information, visit smsmill.com.

Contacts

FalconPoint
Ed Trissel / Sarah Salky
Joele Frank, Wilkinson Brimmer Katcher
212-355-4449
[email protected]

SOURCE FalconPoint Partners