SunCoke Energy, Inc. has announced a definitive merger agreement to acquire Phoenix Global, a provider of mission-critical mill services to major steel producers, for $325 million. The acquisition, which is to be funded through SunCoke's existing cash and undrawn revolving credit facility, is expected to diversify SunCoke's customer base by adding electric arc furnace operators and expanding into international markets. The transaction implies an acquisition multiple of 5.4x based on Phoenix Global's last twelve months Adjusted EBITDA of $61 million as of March 31, 2025. SunCoke anticipates achieving annual synergies of approximately $5 million to $10 million as a result of the acquisition. A conference call and webcast to discuss the details of this transaction will be held on May 28, 2025.