EverMetal Holdings Announces First Dedicated Critical Metals Recycling Platform with Acquisition of CAI Custom Alloys
Custom Alloys
BOULDER, CO – August 20, 2025 – A consortium of private equity investors announced today the launch of EverMetal Holdings LP (“EverMetal”), the world’s first dedicated critical metals recycling platform to strengthen domestic access to the strategic metals supply chain. Established with the majority backing of GEF Capital Partners, a Washington, D.C.-based private equity firm focused on climate change and pollution mitigation, EverMetal aims to build a viable alternative to purchasing mined minerals by creating an integrated recycling supply chain in the U.S.
EverMetal has completed its first acquisition of CAI Custom Alloys LLC (“CAI”), a premier U.S.-based processor of high-performance superalloys, headquartered in Belvidere, Illinois. Founded in 2009, CAI has built an outstanding reputation for precision processing of complex nickel, cobalt, and specialty metal scrap, supporting end markets across aerospace, defense, power generation, medical, and technology. The company is one of a select few domestic processors holding vacuum-melt certification from major aerospace customers – a prerequisite for inclusion in critical component manufacturing.
“CAI’s products play a quiet but vital role in U.S. national security,” said Hugo Schumann, Founder and CEO of EverMetal. “From jet engines to turbine blades, these recycled metals power mission-critical technologies. Our acquisition of CAI reflects our mission to secure and scale domestic recycling of these materials and reduce dependence on expensive, foreign-controlled sources of strategic materials.”
The superalloy market consists of critical metals used in aerospace, power generation, renewable energy and technology and electronics industries. Mining of these superalloys is concentrated in a few specific geographies primarily in Africa and Asia, and they are almost never consumed where they are mined. A recycled alternative in the U.S. allows American companies to purchase critical raw materials domestically while reducing costs, lowering GHG emissions, and taking greater control of their supply chain.
With EverMetal’s capital and strategic backing, CAI will accelerate investment in capacity growth, new processing technologies, geographic expansion, and relationships with key defense and aerospace customers. The integration of CAI into EverMetal’s growing superalloys platform provides foundational capabilities in sourcing, sorting, and processing, and positions EverMetal for further acquisitions across the value chain.
“This is a landmark moment for CAI,” commented Jeff Rubino, President of CAI. “EverMetal brings not just capital, but a powerful network across the metals recycling landscape, and a clear strategic vision. We are thrilled to join forces and scale CAI’s mission to deliver high-integrity, U.S.-recycled metals for America’s most demanding applications.”
About EverMetal
EverMetal is a private equity-backed platform purpose-built to acquire and scale businesses across the critical metals recycling value chain. Founded to address market inefficiencies in the sourcing of strategic materials, EverMetal focuses on metals vital to defense, aerospace, clean energy, and advanced manufacturing. With support from GEF Capital Partners, EverMetal aims to build the dominant independent metals recycling platform in North America and Europe. Learn more at www.evermetal.capital.
About GEF Capital Partners:
GEF Capital Partners is a global private equity firm that that was established in March 2018 following a collaborative spinout from Global Environment Fund, an early pioneer in global sustainability and environmental investing. With offices in the United States, India and Brazil, and investments spanning the clean energy, energy efficiency, waste, water and resource efficiency sectors, GEF Capital invests in companies that have developed solutions to help address climate change and pollution mitigation. By partnering with management teams that operate in high-growth markets, GEF Capital brings a value-added approach to its investments to grow leading companies and ensure a more sustainable future. Visit www.gefcapital.com for additional information.
Media Contact:
Hugo Schumann
EverMetal
media@evermetal.capital
