Key transactions & industry news Weekly Update 02/14/2025
Recent M&A Transactions
Metals & Mining
Feb. 12, 2025 – TE Connectivity plc, a world leader in connectors and sensors, has entered into a definitive agreement to acquire Richards Manufacturing Co. from funds managed by Oaktree Capital Management, L.P. and members of the Bier family, long-standing owners and leaders of the business. The transaction will strengthen TE’s position in serving electrical utilities in North America by combining complementary product portfolios and adding the expertise of the Richards team, enabling TE to benefit from strong growth trends in underground electrical networks. (PRNewswire)
Feb. 10, 2025 – UCAM LP has reached an agreement to acquire 27.9 % stake in Guardian Metal Resources PLC from Power Metal Resources plc for £9.22 million. Power Metal has reached an agreement in principle with UCAM Ltd wherein it is intended that UCAM Ltd will purchase from Power Metal 29,758,334 shares in GMET, and warrants granted over 986,352 ordinary shares in GMET of £0.01 each, for a total cash consideration of £9.22 million. (MarketScreener)
Feb. 05, 2025 – IDM International Ltd. entered into a binding scheme implementation deed to acquire Blackstone Minerals Limited in a reverse merger transaction for AUD 20.4 million on February 5, 2025. The consideration consists of common equity of IDM International Ltd. at a ratio of 7.4 per common equity of Blackstone Minerals Limited. (MarketScreener)
Transportation & Logistics
Feb. 11, 2025 – AP MOLLER Capital has purchased a 51% stake in Spanish logistics company BERGE, which is present in 26 Spanish ports, as well as Bayonne in France. It also has logistics operations in Colombia and Mexico. AP Moller Capital, the private equity business owned by Danish giant A.P. Moller Holding, was invited by Berge y Compania to become a shareholder. (Lloyd’s List)
Feb. 10, 2025 – The investment and asset manager MPC Capital has acquired a 50% stake in the performance management company BestShip GmbH & Cie. KG from Norwegian maritime group Wilhelmsen. This strategic acquisition expands MPC Capital’s maritime services and reinforces its growth in energy transition-related activities. (MPC Capital)
Feb. 06, 2025 – Rocktree Logistics Group , a leading infrastructure service provider through a global network of offshore terminals, shuttle vessels, barges, and other turnkey solutions, announced that it has agreed to acquire 100% of a group of companies known as ATRIA Soluciones Logísticas, a leading South American port services and river transportation group. Through this transaction, Rocktree will significantly expand its global footprint across the commodities and agriculture value chain, offering a broader range of services to new and existing customers. (PRNewswire)
Building Products & Materials
Feb. 10, 2025 – Construction company LGW Group, headquartered in Bristol, has bought Multi-Crete Concrete and Concrete Pumping, taking combined turnover to over £40m. Following the acquisition, LGW is the only construction business in the region capable of delivering a fully comprehensive concreting service. The group’s portfolio also includes Wright Readymix, Bristol Brick Co, Prodeck-Fixing and Mexboro, making it a one-stop shop for commercial and domestic construction projects. (TheBusinessDesk)
Feb. 06, 2025 – Sheh Fung Screws Co.,Ltd proposed to acquire an unknown minority stake in Sanitar Co., Ltd. (MarketScreener)
Energy
Feb. 10, 2025 – United Energy Group Ltd., Hong Kong, has agreed to acquire upstream oil and gas operations in Egypt from Apex International Energy LP. Under the agreement, the entire issued share capital of Apex International Energy Holdings I, the company which holds Apex’s Egyptian business, will be acquired by United Energy (MENA) Ltd. Apex holds interests in eight onshore concessions in the Western Desert of Egypt, with average working interest production over 11,000 boe per day in 2024. Apex’s portfolio offers growth potential, with numerous drilling and re-entry opportunities, enhanced oil recovery, and exploration acreage of over 3,500 square kilometers. (Oil & Gas Journal)
Feb. 06, 2025 – Metawells Oil and Gas Inc., announced that South Plains Petroleum, Inc’s Board of Directors voted unanimously to accept the Corporate Combination Agreement to reorganize and combine the two Companies. The transaction will consist of an exchange of Metawell’s shares 1.5 to 1 for South Plains’ shares, simultaneously with an uplist of the combined Companies to NASDAQ, accompanied by a name change to South Plains Petroleum and a trading symbol change. Minimum initial share price for NASDAQ qualification is $4.00. (ACCESS Newswire)
Others
Feb. 06, 2025 – SolarWinds Corporation, a leading provider of simple, powerful, secure observability and IT management software, announced that it has entered into a definitive agreement to be acquired by Turn/River Capital in an all-cash transaction for $18.50 per share or approximately $4.4 billion. The per-share price represents a premium of approximately 35% to the volume-weighted average closing price of SolarWinds stock for the 90 trading days ended on February 6, 2025. (SolarWinds)
Top News Stories
Metals & Mining
Hydro Alunorte installs two more electric boilers powered by renewable energy to curb CO2 emissions. The world’s largest single-plant alumina refinery, Alunorte, has invested NOK 580 million (US$51.37 million) to add these two new electric boilers to an existing one installed in 2022. Now, the three boilers saving substantial amounts of carbon emissions reinforce Alunorte’s position as one of the lowest emission refineries in the alumina refinery. The new boilers can produce a total of 270 tonnes of steam per hour, sourcing energy from the Brazilian Mendubim solar plant and the Ventos de São Zacarias wind farm. Installing these two new boilers is also a part of Hydro’s several initiatives towards reducing 70 per cent of carbon emissions by 2030.
Wide applications of nano alumina: High hardness and thermal stability lead the way. As a result of its hardness, thermal stability, and high specific surface area, nano alumina has numerous applications in various industries. Alumina nanoparticles are widely used in the adsorption and catalysis fields because of their acid-base properties, high specific area, and mechanical and thermal stability. A technological company in Iran successfully developed alumina-based nanocatalysts, which have been employed in several refineries and gas fields, including Ilam Refinery Co., Shahid Hasheminejad Gas Refinery, various phases of the South Pars Gas Field, and Khark Petrochemical Company.
Trump Raises Steel and Aluminum Tariffs to 25%. President Donald Trump on Monday imposed a blanket 25% tariff on steel and aluminum entering the U.S. Bloomberg reported that the tariffs are being broadly imposed, applying to imports from allies such as the EU, Canada and Mexico and to finished metal products. The action drew applause from the Steel Manufacturers Association (SMA), which said that Trump clearly understands that America’s steel industry is the backbone of its economy.
Transportation & Logistics
US aircraft carrier, merchant ship collide in Mediterranean. The aircraft carrier USS Harry S. Truman and a merchant vessel collided late Wednesday in the Mediterranean Sea. The incident involving the Panamanian-flagged bulk carrier Besiktas-M occurred around 11:45 p.m. local time near Port Said, Egypt. The U.S. Navy Sixth Fleet in a statement said there was no flooding or injuries aboard the Truman, which for several months has been leading a strike group in the Red Sea. No damage was reported to the vessel’s nuclear power plant.
Ryder not counting on stronger freight market in ’25, so it touts broader trends. With freight markets not providing much of a boost to Ryder System’s operations in 2024 – a trend projected to continue into 2025 – the company’s fourth-quarter earnings call focused heavily on Ryder’s transformation to a more diversified operating model with less emphasis on truck rentals.
Tax credit would upgrade US rail freight car fleet. Legislation reintroduced Tuesday in the House of Representatives would establish a 10% tax credit to help upgrade the U.S. freight car fleet. The Freight Rail Assets Investment to Launch Commercial Activity Revitalization Act (Freight Railcar) Act of 2025 was reintroduced in the House by Illinois Republican Rep. Darin LaHood and Democrat Brad Schneider, with 40 original bipartisan co-sponsors.
India plans new container line, maritime expansion. In a move that underscores the country’s expanding global ambitions, India announced a multifaceted maritime initiative to bolster trade and widen the country’s reach in seaborne commerce. Plans call for the launch of a new liner operator, Bharat Container Line, which New Delhi hopes will reduce India’s reliance on foreign vessel operators. The project initially envisions a fleet of 100 vessels to ply what published reports described as key trade routes.
Energy
Oil Steadies as Tariff Delay Offsets Lower Risk to Russian Flows. Oil settled little changed, rebounding from the lowest since December, as a hazy timeline surrounding US President Donald Trump’s plans to impose reciprocal tariffs counteracted potentially easing risks to Russian supplies. West Texas Intermediate ended the session fractionally lower near $71 a barrel after Trump directed his administration to propose new levies on a country-by-country basis that could take weeks or months to complete. The delay reduced concerns that the levies will hamper demand and sparked speculation Trump may not follow through on the measures.
Others
Fed seen on hold until September, with rising bets on earlier rate cut. The Federal Reserve will likely wait until September before cutting its policy rate, traders bet on Thursday, as data kept alive worries over elevated inflation and a decline in jobless claims suggested the labor market remains healthy. Even so, the specific elements that drove the 0.4% rise last month in the producer price index — versus economists’ expectation for a 0.3% gain — gave some reason to expect improvement in the measure that the Fed uses to track inflation.
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.