The acetylene cyclotrimerization reaction mediated by the left-hand-side bare transition metal atoms Y, Zr, Nb, and Mo has been studied theoretically, employing DFT in its B3LYP formulation. The complete reaction mechanism has been analyzed, identifying intermediates and transition states. Both the ground spin state and at least one low-lying excited state have been considered to establish whether possible spin crossings between surfaces of different multiplicity can occur. Our results show that the overall reaction is highly favorable from a thermodynamic point of view and ground state transition states lie always below the energy limit represented by ground state reactants. After the activation of two acetylene molecules and formation of a bis-ligated complex, the reaction proceeds to give a metallacycle intermediate, as the alternative formation of a cyclobutadiene complex is energetically disfavored. All the examined reaction paths involve formation of a metallacycloheptatriene intermediate that in turn generates a metal-benzene adduct from which finally benzene is released. Similarities and differences in the behaviors of the considered four metal atoms have been examined.