Trasteel Buys Out Remaining 40% of BBC Alloys Ahead of SPAC Deal

Trasteel Holding S.A. said on October 7, 2026 that it had purchased the 40% of Italian ferroalloy distributor BBC Alloys S.r.l. it did not already own, buying the shares from minority holder Metco S.r.l. for roughly EUR 1.7 million. The deal closed on September 30, 2026 and makes BBC Alloys a wholly owned unit of the group, according to a company statement distributed by GlobeNewswire.

Trasteel, a steel trading and industrial group based in Lugano, Switzerland, and Luxembourg, had taken majority control of the Milan-based company in June 2025 and has consolidated its results since then, so the purchase removes the remaining minority interest rather than adding revenue. BBC Alloys reported EUR 89.0 million in 2025 revenue, up 8.7%, and EUR 63.9 million in the first half of 2026 on unaudited management figures, compared with EUR 49.3 million a year earlier.

The move comes as Trasteel pursues a US listing. The company agreed on April 13, 2026 to combine with Sizzle Acquisition Corp. II, a Washington, D.C.-based blank-check firm traded on Nasdaq. The parties expect the merger to close by the end of 2026, subject to a Sizzle II shareholder vote, with the combined company trading under the symbol TSTL.

Lorenzo Bagliano will remain chief executive of BBC Alloys and take charge of the group's ferroalloys business.

This story was first reported by GlobeNewswire (Small Business News).