Key transactions & industry news Weekly Update 12/05/2025
Recent M&A Transactions
Metals & Mining
Dec 3, 2025 – JSW Steel Limited entered into scheme of amalgamation to acquire the remaining 17.35% stake in Piombino Steel Limited from JSW Shipping & Logistics Private Limited for $844M. (MarketScreener)
Dec 2, 2025 – Arcline Investment Management, a growth-oriented private equity firm, completes strategic investment in American Casting Company, a leading provider of highly engineered investment castings for aerospace, defense, medical, energy and specialty industrial applications. (Arcline)
Dec 1, 2025 – Steel Dynamics, Inc. (NASDAQ/GS:STLD) completed the acquisition of the remaining 55% equity interest in New Process Steel, L.P. New Process Steel is a metals solutions and distribution supply-chain management company headquartered in Houston, Texas, with a focus toward growing its value-added manufacturing applications. (PRNewswire)
Dec 1, 2025 – Aalberts N.V. has reached an agreement to divest 100% of the shares of Metalis SAS, headquartered in France, generating an annual revenue of approximately $184M with 1,045 employees. (YahooFinance)
Transportation & Logistics
Dec 5, 2025 – Cando Rail & Terminals, a North American owner and operator of first-and-last-mile rail infrastructure, completed its acquisition of the rail terminal and associated operations of Texas Deepwater Partners. (ProgressiveRailroading)
Dec 4, 2025 – Constellation Cold Logistics, a leading provider of cold-storage and temperature-controlled logistics, has entered into an agreement to acquire Spedition Wohlert and Wohlert Kühl Logistik in Germany. (PRNewswire)
Dec 2, 2025 – Bluejay Capital Partners, LLC, a specialist in partnering and investing in transportation and logistics businesses, has recapitalized Quality Life Science Logistics & Transportation, a premier provider of specialized cold chain transportation and logistics solutions for the pharmaceutical and life sciences industries. Terms of the transaction were not disclosed. (BusinessWire)
Dec 1, 2025 – Wiseway Group Limited has regained 100% ownership of its U.S. operations by exchanging its stake in KWT International Inc. for the minority shareholder’s 49% stake in Wiseway USA. This move aims to streamline Wiseway’s U.S. operations, eliminate internal conflicts, and enhance focus on its core logistics services, particularly in the U.S. market. (TipRanks)
Building Products & Materials
Dec 4, 2025 – Astec Industries, Inc. (NASDAQ:ASTE) signed a definitive agreement to acquire CWMF Corporation (“CWMF”). CWMF is a manufacturer of portable and stationary asphalt plant equipment and parts with annual revenues of approximately $50M. (GlobeNewswire)
Dec 2, 2025 – Stellar Industries, Garner, Iowa, has entered into a definitive agreement to acquire Elliott Equipment Co., an Omaha, Nebraska-based manufacturer of truck-mounted aerial work platforms, digger derricks and cranes serving the utility infrastructure, municipal, construction and sign-and-lighting markets. (RecyclingToday)
Dec 1, 2025 – Commercial Metals Company (NYSE:CMC) has successfully completed the acquisition of Concrete Pipe & Precast, LLC from Eagle Corporation and ECPP, LLC for a cash purchase price of $675M, subject to customary adjustments. (PRNewswire)
Dec 1, 2025 – Holcim UK has acquired Thames Materials Limited, a leading construction waste management company in London. The acquisition will reinforce Holcim UK’s position in the recycling and construction demolition materials market in London and surrounding areas and is a key pillar of the company’s growth strategy in this important area. (Holcim)
Energy
Dec 1, 2025 – Pipeline operator Targa Resources will buy Stakeholder Midstream in a $1.25B all-cash deal, expanding its processing capacity in the key Permian Basin. (Reuters)
Others
Dec 5, 2025 – Netflix has agreed to buy Warner Bros Discovery’s TV, film studios and streaming division for $72B, a deal that would hand control of one of Hollywood’s most prized and oldest assets to the streaming pioneer. (Reuters)
Top News Stories
Metals & Mining
U.S. Steel to restart blast furnace at Plant Trump pushed to preserve. U.S. Steel plans to resume steelmaking at an Illinois plant where the Trump administration intervened last summer to keep production going.
U.S. approves South Korea’s tariff cut to 15%, retroactive to November 1. The U.S. Commerce Secretary Howard Lutnick confirmed that South Korea’s plea to reduce import tariffs from 25% to 15% has been accepted. These tariffs include the duties levied on autos.
Henan unveils action plan for red mud utilization. Henan province, a major aluminum and alumina producing hub in Central China, is stepping up efforts in systematically tackling the difficulties in the comprehensive utilization of solid waste from alumina production in order to foster sustainable development for its alumina industry.
Rio Tinto targets $10B assets selloff as Trott resets the miner. Rio Tinto chief executive Simon Trott has outlined a plan to generate $5B to $10B through divestments and productivity growth, as he moves to simplify the structure of the world’s second largest miner.
China’s domestic bauxite prices firm on tight supply, seaborne ore prices edge down amid rising supply. China’s domestic bauxite prices remained firm last week, as supply tightness has not changed and is unlikely to improve in the near term. Some alumina producers in inland regions intend to raise consumption of seaborne bauxite amid the downward trend of seaborne bauxite prices.
Astro Shapes announces appointment of Carol Jackson as Chief Executive Officer. Astro Shapes, a leading manufacturer of custom aluminum extrusions, and a portfolio company of Wynnchurch Capital, announced the appointment of Carol Jackson as Chief Executive Officer.
Transportation & Logistics
Bollinger Motors shuts down amid financial woes. Michigan EV truck maker ceases operations, leaving parent company Bollinger Innovations’ future uncertain after missed payrolls and restructuring.
Union Pacific delays rail merger filing. Union Pacific and Norfolk Southern now expect to file their merger application with federal regulators around Dec. 16, two weeks later than they had originally hoped.
Asia-U.S. container rates fall 32% in latest week. Overcapacity in the trans-Pacific container trade lanes blew up carriers’ plans for November general rate increases, which had briefly pushed prices to the U.S. West Coast up to about $3,000 per forty foot equivalent unit.
Airbus finalizes A350 freighter prototype for test flights, certification. Airbus is conducting rigorous systems ground tests as it gears up for a nine-month campaign of flight tests for the all-new A350 freighter beginning next October with hopes of getting the first aircraft in service by the end of 2027.
Energy
Chinese refiners buy oil from storage, raise output with fresh import quota. Chinese independent refiners are buying discounted Iranian crude held in onshore storage tanks using newly issued import quota to swiftly raise their output, trade sources and analysts said, easing a supply glut.
Oil prices hold steady due to stalled Ukraine peace talks and supply outlook. Oil prices were steady, supported by stalled Ukraine peace talks, though gains were offset by expectations of a supply glut.
Putin says Russia is willing to supply ‘uninterrupted’ fuel to India, as U.S. pressures New Delhi to cut back. Russian President Vladimir Putin has underlined Moscow’s willingness to provide “uninterrupted shipments of fuel” to India, as the U.S. pressures New Delhi to give up importing their oil.
Trump proposes slashing fuel efficiency standards for passenger cars. President Donald Trump proposed big cuts to strict fuel economy standards for passenger cars enacted under the Biden administration.
Others
SpaceX in talks for share sale that would boost valuation to $800B. SpaceX is kicking off a secondary share sale that would value the rocket maker at $800B, people familiar with the matter said, surpassing OpenAI to make it the most valuable U.S. private company.
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.