Key transactions & industry newsWeekly Update 02/13/2026

What We Found Interesting This Week

BlackRock Could Bid for Largest New York Container Terminal


BlackRock is emerging as a potential bidder for Maher Terminals, the largest container facility at the Port of New York and New Jersey, potentially alongside Mediterranean Shipping Co. (MSC). The deal is expected to be highly competitive, but BlackRock and MSC’s deep capital base could provide a meaningful advantage in a process likely to exceed $3B. The interest aligns with BlackRock’s post⁠-⁠GIP acquisition strategy of deploying long⁠-⁠duration capital into mission⁠-⁠critical infrastructure and essential supply⁠-⁠chain gateways, while also reinforcing its renewed focus on stable U.S. port assets after facing geopolitical roadblocks in its Panama Canal push. Maher became especially attractive after securing a 33⁠-⁠year lease extension through 2063, providing long⁠-⁠term cash flow visibility. The 450⁠-⁠acre Elizabeth, NJ terminal handles roughly 3 million TEUs annually (~one⁠-⁠third of NY/NJ volume), making it one of the most strategic assets on the U.S. East Coast. Other reported bidders include Hapag⁠-⁠Lloyd, PSA International, and DP World, underscoring both the rarity of one of the last scaled, standalone terminals in the busiest East Coast port and the likelihood of a highly competitive infrastructure-driven sale process.

Recent M&A Transactions

Metals & Mining

Feb 10, 2026 – Ternium S.A. (NYSE:TX) has completed the acquisition of 153.1M ordinary shares of Usinas Siderúrgicas de Minas Gerais S.A. (Usiminas). The transaction was finalized for approximately $315.2M in cash. The shares were purchased from Nippon Steel Corporation and Mitsubishi Corporation. (Investing)

Feb 10, 2026 – Littlejohn & Co., LLC, a private investment firm based in Greenwich, CT, announced that it has acquired 80/20 from MPE Partners. 80/20 is a leading provider of premium, configurable modular framing solutions serving automation, productivity, and safety applications across a diverse range of end markets. (PRNewswire)

Feb 10, 2026 – McElroy Metal has acquired Fabral, a respected leader in the metal construction industry with nearly 60 years of experience, adding Fabral to the McElroy Metal family of companies. (PRNewswire)

Feb 9, 2026 – Novaria Group, a portfolio company of Arcline Investment Management, announced its acquisition of Plasma Ruggedized Solutions, a leading provider of high-reliability conformal coatings for sensitive electronics serving defense, medical, and advanced industrial applications. (BusinessWire)

Transportation & Logistics

Feb 11, 2026 – Saltchuk Resources has agreed to buy Great Lakes Dredge and Dock Corporation, the largest provider of dredging services in the United States. The deal, which has a total value of $1.5B, is an all-cash offer for the public company, which will become a standalone business within the private, family-owned Saltchuk group. (MaritimeExecutive)

Feb 9, 2026 – A consortium led by FedEx (FDX.N), and InPost (INPST.AS), investors has agreed to buy out the parcel locker company in a $9.2B deal aimed at expanding InPost's reach across Europe while giving FedEx access to its locker network. (Reuters)

Building Products & Materials

Feb 12, 2026 – Boston Valley Terra Cotta, a leading North American manufacturer of custom architectural terra cotta façade solutions and portfolio company of NewSpring Capital and Spring Capital Partners, has been acquired by RAF Equity. (PRNewsWire)


Feb 11, 2026 – QXO agreed to buy closely held building materials distributor Kodiak Building Partners for about $2.25B in cash and stock, continuing its rapid acquisitive expansion. QXO said the deal would be highly accretive to its 2026 earnings, expanding its addressable market in construction materials to $200B. (WSJ)

Feb 10, 2026 – KPS Capital Partners announced that, through a newly formed affiliate, it has signed a definitive agreement to acquire The Wells Companies, Inc., a leading designer, manufacturer and installer of above-grade architectural and structural precast concrete solutions in the United States. (PRNewswire)

Feb 9, 2026 – Audax Private Equity, a capital partner for middle and lower middle market companies, announced it has completed the sale of Colony Hardware, a direct-to-jobsite distributor of construction materials and jobsite supplies servicing specialty and general contractors, to White Cap, a leading distributor of specialty construction supplies and safety products for professional contractors. (YahooFinance)

Energy

Feb 12, 2026 – QE Solar LLC, a leading national Operations and Maintenance provider in the commercial and utility-scale solar, battery energy storage systems and Electric Vehicle Charging sectors, announced the acquisition of Doman Energy Group, an engineering firm specializing in utility-scale energy systems and electrical infrastructure. (PRWeb)

Feb 11, 2026 – Harbour Energy has completed the acquisition of LLOG Exploration Company LLC for $3.2B. It marks Harbour’s strategic entry into the U.S. Gulf of America, strengthening its global portfolio and establishing another core business unit alongside Norway, the UK, Argentina and Mexico. (HarbourEnergy)

Feb 9, 2026 – Gibson Energy Inc. (TSX:GEI) announced it has entered into a definitive agreement to acquire Teine Energy Ltd.’s Chauvin Infrastructure Assets for total cash consideration of $400M, subject to closing adjustments. Through the Transaction, Gibson Energy will acquire a crude oil pipeline and associated infrastructure assets that connect Chauvin to the Hardisty oil hub and expand Gibson’s strategic platform and reach from Hardisty. (BusinessWire)

Feb 9, 2026 – Transocean RIG agreed to acquire fellow offshore drilling services company Valaris in an all-stock deal worth $5.8B. The companies said the deal will expand their reach and customer access in the world’s most attractive offshore drilling basins. The combined company will own 73 rigs. (WSJ)

Others

Feb 12, 2026 – Nuveen agreed to buy U.K. asset manager Schroders for $13.5B, bolstering its business in Europe with a storied London investment house that dates back more than two centuries. (WSJ)

Feb 9, 2026 – U.K. lender NatWest is set to buy wealth manager Evelyn Partners for $3.67B to boost its savings and investment offerings. The bank reached an agreement with private equity firms Permira and Warburg Pincus to take over Evelyn Partners. (WSJ)

Feb 9, 2026 – DSM-Firmenich said it agreed to sell a majority stake in its animal nutrition and health business to private-equity group CVC Capital Partners in a deal valued at $2.6B. The Dutch ingredients supplier said that the sale marks the final step in its yearslong effort to become a company fully focused on human nutrition, health and beauty. (WSJ)

Top News Stories

Metals & Mining

Trump plans to roll back some tariffs on steel and aluminum goods, FT reports. U.S. President Donald Trump plans to scale back some tariffs on steel and aluminum goods, the Financial Times reported on Friday, citing people familiar with the matter. Officials in the Commerce Department and U.S. trade representative’s office believe the tariffs are hurting consumers by raising prices for goods including pie tins and food-and-drink cans.

India-Chile FTA talks signal strategic push to secure critical minerals. The India-Chile free trade agreement (FTA) talks are emerging as an important development for India’s manufacturing ambitions. Currently in advanced stages of negotiation, the proposed pact is widely viewed as a strategic move to secure access to critical minerals, with Chile holding some of the world’s richest reserves of lithium and other critical resources.

Ford aluminum supplier expects fire-damaged plant to be repaired in June. Repairs to a fire-damaged aluminum plant are set to wrap up by the end of June, helping relieve a costly bottleneck for Ford Motor and other automakers. The aluminum maker Novelis said that once repairs are completed at its Oswego, N.Y., plant, operations will gradually step up over a period of months to reach regular-rate production. Repairs will cost at least $255M.

Danantara commits $7B to downstream projects to drive Indonesia’s industrial transformation. Badan Pangelola Investasi Daya Anagata Nusantara, Indonesia’s new independent sovereign wealth fund launched by President Prabowo Subianto, invested $7B in 6 downstream projects across the country.

Mozal’s power lifeline hangs by a thread as shutdown clock ticks, but the minister remains optimistic. After months of news about South32's Mozal smelter coming to a halt, the mineral resources and energy minister Estevao Pale, said that the Mozambique government is undertaking every measure possible to keep the smelter up and running in the coming times. This was informed by the minister on the sidelines of a conference, which was held in Cape Town, South Africa.

Orion Minerals signs $250M prepayment facility with Glencore to fund Prieska development. JSE- and ASX-listed Orion Minerals’ subsidiary, Prieska Copper Zinc Mine, has executed a binding prepayment agreement with a wholly-owned subsidiary of Glencore for a $250M prepayment facility linked to the sale of bulk, copper and zinc concentrates from the Prieska project in South Africa’s Northern Cape.

Transportation & Logistics

Investors halt deals with DP World over CEO’s Epstein ties. Quebec’s La Caisse, the country’s second-largest pension fund, which holds a 45% stake in DP World Canada, in a statement said it expects the global logistics company to “take necessary actions” after the Dubai firm’s chief executive, Sultan Ahmed bin Sulayem, was identified in the latest release of Epstein files.

Northwest Seaport Alliance, PNW ports join on new inland hub. The Northwest Seaport Alliance and three regional ports will partner on development of an Inland Logistics Hub to aid development of Washington state trade. The NWSA joined with the Port of Benton, Port of Pasco and Port of Walla Walla in signing an interlocal agreement to develop the center in the Tri-Cities region of southeastern Washington.

CSX announces $670M locomotive fleet upgrade with Wabtec. CSX (NASDAQ:CSX) announced that it has signed a $670M deal with Wabtec Corporation (NYSE:WAB) to upgrade its fleet with 100 new Evolution Series locomotives, 50 modernized locomotives, and a suite of digital solutions and services.

BlackRock could bid for largest New York container terminal. In a case of terminal superlatives, the world’s largest asset manager could back a bid by the world’s biggest container line to buy the busiest container terminal at the top U.S. East Coast port. BlackRock, the New York-based investment manager, could partner with Mediterranean Shipping Co. to purchase Maher Terminals, which handles more than a third of all box traffic moving through the Port of New York-New Jersey.

Energy

U.S. allows oil majors to broadly operate in Venezuela, add new energy investments. The U.S. eased sanctions on Venezuela's energy sector, issuing two general licenses that allow global energy companies to operate oil and gas projects in the OPEC member and for other companies to negotiate contracts to bring in fresh investments.

Trump directs Energy Department to issue funds to keep coal plants online. President Donald Trump ordered the Defense Department to purchase electricity from coal-fired power plants in his latest effort to boost the coal sector. The move, which was announced at the White House as an executive order, calls for the Pentagon to form purchase agreements to buy electricity from coal-fired power plants for an unspecified amount.

Libya awards new oil, gas blocks to Chevron, Eni, others in first licensing round since 2007. Libya awarded oil and gas exploration blocks to foreign oil companies, including Chevron, Eni, QatarEnergy, and Repsol, in its first licensing round in nearly two decades as it seeks to revitalize the sector despite ongoing political division.

U.S. trying to avoid "damaging" Chinese deals in Venezuela, energy secretary says. U.S. Energy Secretary Chris Wright said during a trip to Venezuela that legitimate deals by legitimate Chinese companies will be fine in Venezuela, but the Trump administration is trying to avoid "damaging" deals that Chinese firms have done in other countries in the region.

EPA will revoke ‘endangerment finding’ that underpins all climate regulation this week. The Environmental Protection Agency will revoke a critical scientific finding that undergirds the U.S. government’s climate regulations and ability to regulate greenhouse gases.

Others

Inflation slowed to 2.4% in January, helped by lower ​gasoline prices. Annual inflation slowed in January, falling more than economists expected, helped by declining prices for gasoline and used vehicles. Cooler price increases overall are positive news for the economy, easing concerns that the Trump administration’s steep tariffs will lead to broader ongoing inflation.

U.S. jobs beat for January affirms steady Fed view. U.S. non-farm payrolls increased last month and the jobless rate ticked lower, beating forecasts and bolstering expectations that the Federal Reserve will keep interest rates steady as it gauges inflation trends.

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.

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