Norilsk Nickel USA, Inc., Nornickel’s exclusive distribution company for nickel, platinum group metals, and cobalt in the Americas, has been acquired in an all-cash transaction by TMP Metals Group, Inc.

TMP Metals Group, Inc. refines, distributes and tokenizes nickel and platinum group metals. It is a wholly owned subsidiary of TMP Holdings, Inc., a Beverly Hills-based global investment and holding company with more than $5 billion in annual revenues throughout its portfolio companies.

As a result of the acquisition, TMP Metals Group, Inc. will become one of the leading suppliers of metals and metal products in North America, Latin America, and South America.

“We see this transaction as an opportunity to optimize our global distribution business and at the same time help establish a more sustainable stream of low carbon nickel and palladium to industrial consumers throughout the region,” says Anton Berlin, Nornickel Vice President, Sales and Distribution.

“This is an exciting time to be an essential provider of critical metals for the new economy. Nickel, platinum and palladium are key components in the manufacturing of EVs, solar panels and wind turbines, among others,” says Raymond F. Staples, TMP’s founder and Chairman. “In order to decarbonize the planet, the market needs to produce more than four times the current supply.”