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.
Across the value chain
- Iron ore & coking coal
- Steelmaking — BF-BOF & EAF
- Flat steel & rebar
- Seamless & OCTG pipe
- Metals & industrial investment
25+
years across steel, mining, metals and commodity-intensive industries
$8.8B
strategic investment roadmap contributed to at Metinvest
20+
M&A transactions, more than $2.5B in transaction scope
7+
advisory mandates across Europe, the U.S., the Middle East and Asia
Services
Six ways we help clients move with confidence.
Engagements range from a focused two-week review to long-term advisory and interim leadership roles.
01
Market & pricing strategy
Market outlooks, pricing models and trade-flow analysis for steel, raw materials and finished products — so you price and plan from evidence.
02
Commercial excellence
Commercial strategy, pricing, market development, route-to-market optimisation, commercial ramp-up and sales transformation.
03
Investment & M&A advisory
Investment origination and screening, commercial due diligence, cross-border M&A, valuation and capital structuring.
04
Decarbonisation & CBAM
What EU ETS and CBAM mean for your costs, customers and competitive position — and which low-carbon route makes sense.
05
Greenfield development
From pre-feasibility and site selection through FEED, vendor selection, financial modelling and investment decision.
06
Brownfield & value creation
Brownfield acquisitions, operational repositioning, post-deal integration and P&L improvement.
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, defining vendor scope and capital structure for investors.
Pre-feasibility · Vendor scope · Capital structuring · Investor deck
M&A · United States · OCTG
Transaction for a U.S. OCTG seamless pipe producer
End-to-end M&A support, from identifying the opportunity to valuation, deal structure and due diligence.
Origination · Valuation · Structuring · Due diligence
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
M&A · Private equity client
Seamless pipe M&A opportunity screening
Screening of acquisition opportunities among seamless pipe producers for a private equity investor.
Opportunity screening · Target assessment
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
Before Ussuri Capital · Metinvest
15 years at one of Europe's leading steel and mining groups
$8.8B
strategic investment roadmap
20+
M&A deals, $2.5B+ scope
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 — from market sizing and competition to a phased cold-rolling and EAF route. That depth of analysis now supports our clients' own decisions on CBAM, low-carbon routes and CEE market entry.
Discuss the case study →From our analysis
€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 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.