Key transactions & industry news Weekly Update 02/28/2025
Recent M&A Transactions
Metals & Mining
Feb. 27, 2025 – Trive Capital, the Dallas-based private equity firm, is excited to announce its recent investment into Independent Forgings and Alloys a leading integrated manufacturer of complex, multi-step forgings with a focus on advanced alloys and the hot sections of commercial aero engines and military defense systems. (PRNewswire)
Feb. 27, 2025 – El Paso, Texas-based Manufacturing Revitalization Corp. of America (MRCA) has announced its acquisition of Technical Metals Inc. of Fairbury, Ill., a provider of welding, grinding, lathing, and abrasive waterjet services for manufacturers of earthmovers, tractors, and cranes. (The Fabricator)
Feb. 26, 2025 – Marmon Aerospace & Defense Group, a Marmon Holdings, Inc. / Berkshire Hathaway Company announced today that it has successfully completed the acquisition of Marine Tech Wire & Cable, Inc. Marine Tech is a manufacturer of electrical wire and cable that specializes in the production of circuit integrity cable for use in US Navy ships. (BusinessWire)
Transportation & Logistics
Feb. 27, 2025 – Allstates WorldCargo, a leader in global logistics and freight forwarding, proudly announces the acquisition of Saturn Freight Systems, a highly respected freight forwarding and logistics company. This strategic acquisition reinforces Allstates WorldCargo’s commitment to providing exceptional service and innovative solutions to its clients worldwide. (BusinessWire)
Feb. 24, 2025 – Northland Regional Council, Port of Tauranga and Tupu Tonu have conditionally agreed to buy out minority shareholders in NZX-listed Marsden Maritime Holdings. Marsden Maritime Holdings and Port of Tauranga each own half of Northport near Whangārei. The group said in a statement to the NZX the deal would simplify the ownership structure by de-listing its shares, and bring full control of Northport under a single umbrella. (The Press)
Feb. 20, 2025 – TFI has entered into a definitive share purchase agreement to acquire Hearn, with the transaction expected to close in early Q2 2025. Headquartered in Windsor, Ontario, Hearn is a privately owned leader in supply chain logistics, specializing in sequencing, subassembly, transportation and quality services for the automotive industry. Owned and operated by Don and Steven Hearn, the company is known for its strong focus on customer service and employee culture. Hearn operates locations across Ontario, Michigan, Ohio, Tennessee and Kentucky. (Bakertilly)
Building Products & Materials
Feb. 25, 2025 – Thurston Group, a modular building manufacturer, has acquired Storplan, a specialist fabrication business which increases fabrication capacity and product offering. Wakefield-based Thurston Group will have secure access to Storplan’s 1,900 sq m manufacturing facility in York, which will provide additional fabrication capacity for the firm’s current and future projects. (North East Post)
Others
Feb. 25, 2025 – Thermo Fisher Scientific Inc., the world leader in serving science, today announced that the company has entered into a definitive agreement with Solventum to acquire Solventum’s Purification & Filtration business for approximately $4.1 billion in cash. (Thermo Fisher)
Top News Stories
Metals & Mining
Alba announces Ma’aden as a major shareholder. Aluminium Bahrain B.S.C. (Alba), the world’s largest smelter on one site, announces that Saudi Arabian Mining Company (Ma’aden) as its new strategic shareholder following the acquisition of SABIC’s 20.62% stake in Alba. The c.US$1 billion transaction marks a transformative moment for Alba and reinforces its position as a global leader in the aluminium industry.
EU expands sanctions on Russian aluminium: industry calls for closing loopholes. European Aluminium, the voice of the entire aluminium value chain in Europe, welcomes the inclusion of primary aluminium in the EU’s 16th sanctions package against Russia. This package expands existing restrictions on Russian aluminium imports and addresses a longstanding request of the industry to include primary aluminium alongside previously sanctioned products. The new sanctions cover key aluminium product categories, such as ingots, slabs, and billets, under the trade code HS 7601. Furthermore, a quota mechanism is introduced, allowing 275,000 tons, which equates to 80% of EU imports in 2024, to be used over a 12-month period.
Transportation & Logistics
House lawmakers reintroduce truck parking bill. The Truck Parking Safety Improvement Act was reintroduced in Congress on Thursday to dedicate federal grants specifically for increasing available parking spaces desperately needed by truckers for resting during off-duty hours. The latest version of the bill would set aside $755 million over five years (FY2025 through FY 2029) that would be available through a competitive grant program. Similar legislation was introduced in 2021 and in 2023.
US weekly rail volume falls compared to 2024. United States rail traffic fell below year-ago levels for the week ending Feb. 22, halting a string of three weeks of traffic gains. According to statistics from the Association of American Railroads, total volume was 458,514 carloads and intermodal units, down 5.1% from the same week a year ago. That included 193,252 carloads, a 13.6% decrease, and 265,261 containers and trailers, up 2.3%.
Energy
BP cuts renewable investment and boosts oil and gas in strategy shift. BP slashed planned investment in renewable energy and said on Wednesday it would increase annual oil and gas spending to $10 billion, in a major strategy shift aimed at boosting earnings and investor confidence.
Oil falls on White House spat, tariffs, Iraq exports. Oil prices fell on Friday and were headed for their first monthly drop since November, as markets watched an Oval Office argument between the U.S. and Ukrainian presidents while also bracing for Washington’s new tariffs and Iraq’s decision to resume oil exports from the Kurdistan region.
Others
The first quarter is on track for negative GDP growth, Atlanta Fed indicator says. The Atlanta Fed’s GDPNow tracker of incoming data is indicating that gross domestic product is on pace to shrink by 1.5% for the first quarter. While the tracker is volatile through the quarter and typically becomes more reliable much later in the quarter, it does coincide with some other indicators showing a growth slowdown.
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.