Key transactions & industry news Weekly Update 05/30/2025
Recent M&A Transactions
Metals & Mining
May 27, 2025 – Mayville Engineering Company, a leading value-added provider of design, prototyping and manufacturing solutions serving diverse end-markets, announced a definitive agreement to acquire Accu-Fab, LLC (“Accu-Fab”) from strategic holding company Tide Rock for a total consideration of $140.5 million. Accu-Fab is a vertically integrated contract manufacturer providing technology-driven, cutting-edge metal fabrication solutions to large OEMs. Accu-Fab operates state-of-the-art manufacturing facilities at two locations, Raleigh, North Carolina and Wheeling, Illinois. (Business Wire)
May 27, 2025 – Northfield Capital Corporation announces that it has entered into binding share purchase agreements with five shareholders of Juno Corp. pursuant to which the Company has agreed to acquire an aggregate of 5,123,044 common shares of Juno in consideration for the issuance to such shareholders of an aggregate of 3,725,848 class A restricted voting shares in the capital of the Company. (GlobeNewswire)
May 23, 2025 – D.Y.M Partners Co., Ltd. signed a share transfer agreement to acquire 14.17% stake in Daiyang Metal Co., Ltd. from Bb1 Association for KRW 12 billion on May 23, 2025. D.Y.M Partners Co., Ltd. will acquire 6 million shares at a price of KRW 2000 per share. (MarketScreener)
Transportation & Logistics
May 30, 2025 – A new joint venture of GATX Corp. and Brookfield Infrastructure Partners L.P. have entered into a definitive agreement to acquire Wells Fargo’s rail operating lease portfolio of approximately 105,000 railcars for $4.4 billion. Initial joint venture equity ownership will be GATX (30%) and Brookfield Infrastructure (70%), with GATX having the option to acquire 100% of the joint venture equity over time. Additionally, Brookfield Infrastructure has entered into an agreement to directly acquire Wells Fargo’s rail finance-lease portfolio, composed of approximately 23,000 railcars and approximately 440 locomotives. GATX will serve as manager of the railcars in the joint venture and of the finance-lease railcars and locomotives directly owned by Brookfield Infrastructure. (Railway Age)
May 28, 2025 – Monte Capital Management, a Brazilian private equity manager focused on real assets, entered into an agreement through one of its managed funds with Macquarie Infrastructure Partners VI for the sale of a 100 per cent stake in the Monte Rodovias S.A platform. The Platform is comprised of the concessionaires for four toll roads in NE Brazil and a toll road in the central Brazilian agricultural state of Mato Grosso. (Macquarie)
May 20, 2025 – Typewriter Ascend Ltd, an entity controlled by Stonepeak and an affiliate of Textainer, has entered into an agreement to acquire Global Sea Containers Limited (“Seaco” or the “Company”) from Bohai Leasing Co., Ltd (“Bohai”) for an equity purchase price of $1.75 billion, subject to certain adjustments. Originally established in 1965, Seaco is incorporated in Bermuda and is currently owned by Bohai, an entity listed on the Shenzhen Stock Exchange. Seaco is a marine container leasing company with global operations, and the Company today owns and operates a container fleet greater than 2.4 million TEU across a worldwide footprint of over 360 depots and 23 offices. (Business Wire)
May 19, 2025 – North America’s biggest tank trucking company, Kenan Advantage Group (KAG), announced it has acquired Nova Scotia-based liquid bulk hauler Fisher Transport through its Canadian subsidiary, KAG Canada. Fisher Transport is a 60-year-old carrier focused on hauling milk along Canada’s Atlantic Coast. In addition to moving 200 million liters (53 million gallons) of raw milk annually, Fisher hauls other food-grade products and chemicals out of three locations in Nova Scotia, New Brunswick, and Newfoundland and Labrador. The deal includes 60 tractors and 70 specialized trailers and gives KAG new alliances with Canadian dairy farmers. (FreightWaves)
Building Products & Materials
May 30, 2025 – Cementir Holding NV has announced its intention to sell the Kars cement plant in Turkey, currently jointly-owned by two of its subsidiaries. Çimentas AS and Alfacem Srl have entered into a binding agreement with Arkoz Madençilik AS to divest 100 per cent of the share capital of Kars Cimento AS. The transaction has an enterprise value of EUR51m (US$57.8m) on a cash and debt-free basis. (Cemnet)
May 23, 2025 – M3 Glass has been acquired by Brick Glass. M3 Glass is a glass fabricator of decorative, monolithic, and insulated glass, serving glaziers, OEMs, dealers/distributors, and specialty installers. (TM Capital)
Energy
May 19, 2025 – Blackstone Infrastructure (BX.N), will acquire utility company TXNM Energy (TXNM.N), in an $11.5 billion deal, including debt, as the investment firm bets on rising U.S. electricity demand and a shift to cleaner energy sources. (Reuters)
May 19, 2025 – TotalEnergies also takes a 5% stake in Western LNG, the developer, shareholder, and future operator of the Ksi Lisims LNG project. In parallel, TotalEnergies has signed an agreement with Ksi Lisims LNG to purchase 2 Mtpa of LNG for 20 years from the future plant located in Western Canada. (TotalEnergies)
May 17, 2025 – FunDe Sino Life Insurance Co., Ltd. and Shenzhen Fude Jinrong Holdings Co., Ltd. signed the share transfer agreement to acquire 15.03% stake in Guanghui Energy Co., Ltd. (SHSE:600256) from Xinjiang Guanghui Industry Investment (Group) Corporation Limited for CNY 6.2 billion. (MarketScreener)
Others
May 27, 2025 – Salesforce (NYSE: CRM), the world’s #1 AI CRM, and Informatica (NYSE: INFA), a leader in enterprise AI-powered cloud data management, have entered into an agreement for Salesforce to acquire Informatica for approximately $8 billion in equity value, net of Salesforce’s current investment in Informatica. Under the terms of the agreement, holders of Informatica’s Class A and Class B-1 common stock will receive $25 in cash per share. (Salesforce)
Top News Stories
Metals & Mining
US will have golden share in Nippon Steel’s takeover of US Steel, lawmaker says. The U.S. government will have veto power over key decisions relating to U.S. Steel (X.N), as part of a deal with Nippon Steel (5401.T), that would approve the Japanese firm’s bid for the well-known American steel company, a U.S. lawmaker said on Tuesday.
Tawazun Council, RTX and EGA Sign MOU to Explore Gallium Production in Abu Dhabi. Tawazun Council; aerospace and defense company RTX (NYSE: RTX); and Emirates Global Aluminium (EGA), the world’s largest producer of “premium aluminium,” signed a memorandum of understanding to establish EGA as a new producer of gallium, a critical mineral used across global supply chains.
Guinea pulls the plug by cancelling 129 mining licences, and it seems to be just the beginning. Guinea has just made a move that could send tremors through global commodity corridors, cancelling from 50 plus to 129 mineral exploration permits in a single sweep. No clarifications. No negotiations. Just a decree from the military-led government aimed at “tightening control” over the West African nation’s mineral treasure trove. A senior official at the Ministry of Mines said the move was to free unused resources for other more potent investors. “We’ve simplified it by digitising the whole system, which can now be better controlled,” the official has disclosed to Reuters, speaking on condition of anonymity.
Transportation & Logistics
Supreme Court rules in favor of Utah crude oil railway. The Surface Transportation Board’s environmental review of the proposed Uinta Basin Railway was proper, the U.S. Supreme Court ruled Thursday in an 8-0 decision that overturns a lower court’s order that blocked construction of the 88-mile Utah railroad. The STB in December 2021 approved the project, noting that the transportation merits of the rail line outweighed its potential environmental impacts. The line would be used to transport waxy crude oil from the remote Uinta Basin to a connection with Union Pacific’s former Rio Grande main line. From there the crude would be hauled to Gulf Coast refineries.
Appeals court stays ruling that blocked Trump tariffs. A federal appeals court on Thursday temporarily stayed a trade court ruling that blocked most of President Donald Trump’s tariffs. The ruling by the U.S. Court of Appeals for the Federal Circuit came after the Trump administration earlier told the court that it would ask the Supreme Court for “emergency relief” as soon as Friday absent a pause in the tariff ruling.
Energy
OPEC+ Mulls Even Larger Oil Output Hike as It Seeks Market Share. OPEC+ is considering accelerating its production increases by discussing a potential hike of more than 411,000 barrels a day for July as it seeks to recoup lost market share, according to people familiar with the matter. Eight key members of the Organization of the Petroleum Exporting Countries and its partners, led by Saudi Arabia, are due to hold a video conference on Saturday to discuss output policy. Their last two calls resulted in super-sized production increases that drove down prices, and the cartel may go even further this time, the people said.
Others
Five Elms Capital Raises $1.1 Billion Fund VI to Back High-Growth Software Companies. Five Elms Capital, a software-focused growth equity firm, announced the October 2024 closing of Five Elms VI with $1.1 billion in total commitments, the largest fund in firm history. The oversubscribed fund drew strong participation from both existing and new limited partners and meaningfully expanded Five Elms’ global investor base. With the close of Fund VI, Five Elms has increased assets under management to over $3 billion and is empowered to continue acting as a trusted partner for fast-growing, founder-led software companies.
About RJM
RJM & Company is a specialized M&A and capital markets advisory investment bank. We provide boards and management teams of public and private companies with independent advice and expertise in a variety of sectors including road, rail and marine transportation, infrastructure, chemicals, energy, metals and mining, manufacturing, building materials, and other coverage areas of the industrial complex. RJM advises clients on all aspects of transactions including timing, structure, and pricing. RJM originates opportunities and helps negotiate and execute transactions already under evaluation.