Metals & Industrial Investment Advisory · Capital-intensive industries
Investment and strategy advice for steel, metals, commodities and industrial businesses
An independent advisory and project-development practice. We advise investors and industrial groups on evaluating, structuring and developing steel and metals investments across Europe, the U.S., the Middle East and Asia.
25+
years across steel, mining, metals and commodity-intensive industries
$8.8B
strategic investment roadmap contributed to at Metinvest Holding
20+
M&A transactions, more than $2.5B in transaction scope
7+
advisory mandates across Europe, the U.S., the Middle East and Asia
How we work with investors
From market thesis to operating asset.
We support investors across the full project lifecycle — end to end, or at any single stage.
01. Analyse
Market & pricing strategy
Market outlooks, pricing, trade flows and the competitive landscape for steel, raw materials and finished products — the evidence behind every investment thesis.
Market study · Price forecast · Trade-flow & competitor map
02. Validate
Feasibility & valuation
Pre-feasibility and feasibility, site and technology route, CAPEX and OPEX benchmarks, and a full financial model to value the opportunity.
Feasibility study · Business plan · DCF model · Sensitivity analysis · Valuation report
03. Decide
Investment case & IC pack
A decision-ready package for greenfield and brownfield projects, acquisitions and minority stakes — for investment committees, boards, lenders and co-investors.
Investment memorandum · Investor deck · IC Q&A · Risk assessment · M&A valuation & second opinion
04. Execute
Transaction structuring & project delivery
Deal structuring and execution, then project management: OEM and vendor selection, FEED, EPC, construction and commissioning through to hot trials.
Deal structure · Fund-raising readiness · OEM & vendor selection · FEED–EPC–commissioning plan
05. Operate
Commercial excellence
Commercial ramp-up, pricing, route-to-market and sales transformation — so new capacity reaches customers at target margins.
Ramp-up plan · Route-to-market plan · Commercial KPI dashboard
06. Adapt
CBAM, decarbonisation & special situations
EU ETS and CBAM exposure, low-carbon routes, and the repositioning or turnaround of underperforming assets.
CBAM exposure model · Low-carbon route options · Recovery plan
Who we work with
Built for the people who make, move and finance steel.
- Steel producersCommercial strategy, product mix and market entry
- Traders & distributorsSourcing, pricing and service-centre economics
- Investors & family officesDue diligence and investment cases in metals
- Industrial buyersProcurement strategy and CBAM exposure
- Project developersConcept, technology route and funding readiness
Approach
Practitioner-led, not slide-led.
01
Diagnose
Understand your market position, numbers and constraints first-hand.
02
Design
Build options with clear economics, risks and trade-offs.
03
Deliver
Work alongside your team to implement — not hand over a report.
04
Measure
Track results against agreed commercial KPIs.
Track record
Selected mandates.
Client names are kept confidential. Detailed references available on request.
Greenfield · EU
€160M flat-steel greenfield project
Project strategy and feasibility for a new flat-steel complex, with full DCF model and investor materials.
Strategy · Feasibility · DCF modelling · Investor deck
Greenfield · United States
Seamless pipe mill
Pre-feasibility for a new U.S. seamless pipe mill, from market analysis and entry strategy to valuation, business plan and investor materials.
Pre-feasibility · Vendor scope · Market analysis & entry strategy · Valuation · DCF modelling · Business plan · Investor deck
M&A · GCC region · OCTG pipes
OCTG ERW pipe mill
Market analysis and valuation report for a potential acquisition of an existing ERW pipe mill in the GCC region.
Origination · Market analysis · Valuation
Strategy & M&A · Asian commodity house
Market strategy and target screening in steel and iron ore
Market strategy and M&A screening of potential steel and iron ore targets for a major Asian commodity house.
Market strategy · M&A screening
Acquisition · Iron ore
Minority stake in an iron ore business
Buy-side support for a minority investment, from strategy and target selection to teaser and valuation.
Origination & strategy · Target selection · Teaser · DCF modelling
Divestment · Private equity client
Carve-out sale of a rebar mill
Advisory to a private equity owner on the carve-out and sale of a rebar mill.
Sell-side advisory · Carve-out · Deal structuring · Project management
Brownfield · Ukraine
Brownfield EAF steelmaking project
Repositioning a former industrial asset into an EAF steelmaking plant and rebar mill.
Origination · Due diligence · Market strategy · Pre-FEED · DCF modelling · Investor deck · Project management
Your project
Evaluating a steel or metals investment?
From market thesis to investment decision — we can start at any stage.
Discuss your mandate →Focus area · Green steel
Europe's steel market is being redrawn. We've done the homework.
We developed a full investment case for a carbon-neutral flat-steel project in Romania, near the port of Constanța — the analysis now behind our clients' decisions on CBAM, low-carbon routes and CEE market entry.
€108–132/t
estimated added carbon cost per tonne of BF-BOF steel by 2034 under ETS & CBAM
~0.4 t
CO₂ per tonne via scrap-EAF, vs ~1.8–2.2 t for BF-BOF
>20 Mt
of flat products imported into the EU each year
About
Roman Kurashev
Founder & Managing Director · Former Metinvest Holding executive · LBS MBA
Industrial executive and investment advisor with 25+ years of international experience across steel, mining, metals and commodity-intensive industries, combining senior operating and commercial leadership with investment, M&A and greenfield project development.
Roman spent 15 years with Metinvest Holding, one of Europe's leading steel and mining groups, progressing to senior global strategy and commercial leadership roles. He contributed to the group's $8.8B strategic investment roadmap and to 20+ M&A transactions representing more than $2.5B in transaction scope.
He has worked closely with boards, shareholders, private equity investors, lenders, engineering and technology providers, and senior management teams in capital-intensive, competitive and trade-exposed markets.
Expertise
Steel · Iron ore · Coking coal · Metals · Industrial investment · M&A · Greenfield projects · Strategy · Commercial · Go-to-market
Education
MBA, London Business School · Executive education, Harvard Business School and IMD
Contact
Let's talk about your next decision.
Tell us briefly what you're working on. We reply within two business days.