Atlas Holdings, a U.S.-based private equity firm specializing in manufacturing and distribution, has signed a definitive agreement to acquire Evraz Inc. NA and Evraz Inc. NA Canada, along with their subsidiaries (collectively, Evraz North America). The transaction is expected to close in the second half of 2025, subject to regulatory approvals and closing conditions.
Evraz North America is a leading producer of engineered steel products for the rail, energy, infrastructure, and industrial sectors, with operations in Pueblo, Colorado; Portland, Oregon; Regina, Saskatchewan; and multiple locations across Alberta, Canada. The company employs 3,400 people and operates with 2.3 mln tons of steelmaking capacity and 3.5 mln tons of finished steel capacity, including tubular products.
Its Pueblo facility is the world’s largest solar-powered steel mill and North America’s top rail supplier. The Canadian division is one of the continent’s largest suppliers of energy tubulars. Overall, the company runs two electric arc furnace (EAF) steel plants, 12 rolling mills, and 17 scrap recycling facilities, producing steel with over 98pct recycled content.
Atlas Holdings brings more than 20 years of experience operating and growing industrial businesses, including in the steel sector. It currently owns 27 businesses across a wide range of industries such as automotive, metals, construction, energy, packaging, and logistics.
Evraz North America has operated independently since its ultimate parent, Russia’s Evraz plc, was sanctioned by the UK government in May 2022 following Russia’s invasion of Ukraine. A general license allowed the North American unit to continue operations separately from the parent company.
