Key transactions & industry news Weekly Update 06/27/2025
Recent M&A Transactions
Metals & Mining
Jun 26, 2025 – Blue Gold Limited, a gold mining company advancing a portfolio of assets anchored by the historic Bogoso-Prestea Mine in Ghana’s Ashanti region, has completed a business combination with Perception Capital Corp. IV, a Special Purpose Acquisition Company (SPAC). (PR Newswire)
Jun 23, 2025 – Torex Gold Resources Inc. (TSX: TXG) has entered into a definitive agreement with Reyna Silver Corp. (TSXV: RSLV) to acquire all of the issued and outstanding common shares of Reyna Silver for an all cash consideration of ~$36M based on an offer price of $0.13 per share. (Torex Gold)
Jun 22, 2025 – Kinterra Capital GP Corp. II has submitted a non-binding, indicative proposal to acquire 100% of the shares in New World Resources Limited (ASX: NWC) for an all cash consideration of ~$0.04 per share. (Yahoo Finance)
Jun 18, 2025 – Nippon Steel (TSE: 5401) has finalized its deal to buy 100% of US Steel, the iconic steelmaker that was once the world’s most valuable company and a cornerstone of American industrial might. Under the terms of the deal first announced in December 2023, Nippon will buy US steel for $55 per share, or $14.1B. The company will also retain its name and Pittsburgh, Pennsylvania headquarters. (CNN)
Transportation & Logistics
Jun 26, 2025 – Maritime Partners, LLC, a leading provider of maritime financing solutions primarily focused on Jones Act vessels, has entered into a definitive agreement to acquire premier marine transportation company Centerline Logistics from its principal investors, which include Macquarie Capital and Silverbox Capital co-founder and managing partner, Steve Kadenacy. (PR Newswire)
Jun 25, 2025 – Milton, PA-based logistics company Patton Logistics Group will acquire Milton Transportation and its sister company, BTR Inc. Patton Logistics Group provides freight transportation, warehousing and logistics services across North America. It operates a fleet of 525 trucks, 1,800 trailers and over 5.2 million square feet of warehouse space through its affiliates. Through the deal, Patton Logistics will add 40 additional trucks, 300 trailers, two truck maintenance facilities and a body and alignment shop. It will also absorb Milton’s warehousing operations to add 200,000 square feet of warehouse space in Milton, PA. (FreightWaves)
Jun 24, 2025 – Rational Automotive Repair was acquired by Rogers Capital Investment, LLC. The business has been rebranded as North Star Automotive, reflecting the new owners’ long-term vision of building a regional network of auto repair shops across the Southern United States rooted in the same integrity and customer-first service. (PR Newswire)
Jun 19, 2025 – HTL Freight, the acquisitive 3PL based in North Carolina that has purchased several brokerages in recent years, has acquired TS3 Logistics, a California-based specialist in refrigerated truckload and refrigerated LTL transportation. Of the five acquisitions that HTL has made since its 2021 change in ownership, this is the second-largest purchase. (Yahoo Finance)
Building Products & Materials
Jun 25, 2025 – American Window Film, a national leader in commercial and residential window film solutions, acquired Energy Control Consultants, a premier 3M™ Authorized Dealer based in Knoxville, TN. This strategic move strengthens American Window Film’s presence in the Southeast region, enhancing its service capabilities in Tennessee and neighboring markets for energy-efficient and security window film applications. (PRWeb)
Jun 23, 2025 – Holcim (SWX: HOLN) completed the spin-off of its North American business Amrize, which achieved a $30B valuation. Shareholders were given one Amrize share for every share in Holcim in the 100% spin-off of the business, which the Swiss-listed company said aimed to sharpen its focus on the different market dynamics in North America compared with the rest of the world. (Reuters)
Jun 23, 2025 – NorDan acquired a majority stake in Performance Doorset Solutions, a highly respected door manufacturer based in Littleborough, England. This strategic acquisition reinforces NorDan’s commitment to strengthening its presence in the UK entrance door market. Founded in 2003, Performance Doorset Solutions is renowned for its supply and delivery of fully certified, high-quality fire door sets, including FD30, FD60, and Secure by Design entrance doors. (NorDan)
Jun 19, 2025 – Worthington Enterprises (NYSE: WOR) acquired Elgen Manufacturing Company, which is a market-leading designer and manufacturer of HVAC parts and components, ductwork and structural framing primarily used in commercial buildings throughout North America. (Worthington Enterprises)
Energy
Jun 26, 2025 – Energy and industrial products supplier DNOW (NYSE: DNOW) will acquire MRC Global (NYSE: MRC) in an all-stock deal valued at $1.5B, including debt. The combined company will operate over 350 service and distribution locations in more than 20 countries, serving customers across the upstream, midstream, downstream, gas utility, and broader industrial sectors. (Reuters)
Jun 25, 2025 – Black Lion has submitted an $8B all-cash offer for PDV Holdings, the U.S.-based parent company of Venezuelan-owned refiner Citgo Petroleum. (Reuters)
Jun 24, 2025 – Hunting PLC (LON: HTG) acquired Flexible Engineered Solutions for ~$68M. Flexible Engineered Solutions owns intellectual property in a number of its product lines with a balanced portfolio of capabilities covering Fluid Handling, Subsea, Marine Services and Renewables. (Hunting)
Others
Jun 24, 2025 – Glacier Bancorp, Inc. (NYSE: GBCI) has signed a definitive agreement to acquire Guaranty Bancshares, Inc. (NYSE: GNTY), the bank holding company for Guaranty Bank & Trust, N.A. Glacier has total assets of $27.9B and is headquartered in Kalispell, MT. (Stephens)
Top News Stories
Metals & Mining
EGA put its next-gen smart smelting technology in production, transforming aluminum industry sustainability. EGA announced the commencement of hot metal production at pilot reduction cells for EX, its next-generation aluminum smelting technology. With this, EGA has taken a pioneering step towards the goal that demands industrial innovation to be aligned with decarbonisation objectives. This development is noteworthy – not only for its technical advancement over DX+ Ultra but also for its long-term strategic goal of building the most self-sufficient, energy-efficient, and low-carbon aluminum smelter in the world by 2028.
Constellium honoured with three supplier awards from Airbus. Constellium has been recognised with three awards at the 2025 edition of Airbus’ Supply Chain & Quality Improvement Program (SQIP), held in early June. The program honours suppliers that consistently deliver excellence in their quality & delivery performance and industrial maturity.
India warns of retaliatory tariffs if US doubles aluminum and steel duties. India has yet to take concrete action during WTO bilateral talks, despite mutual efforts to reach a trade agreement by July 9, when reciprocal tariffs were paused. However, on July 4, the Trump administration doubled tariffs from 25% to 50%, affecting Indian exports. India contested the move at the WTO, arguing the tariffs do not qualify as safeguard measures—an official classification that could trigger $1.91B in duties on $7.6B of exports. While India also raised concerns over 25% tariffs on autos and parts, these were not central to its retaliation claims. Previously, India had imposed reciprocal tariffs in response to the 2018 U.S. steel and aluminum duties, but later withdrew them when the Biden administration lifted restrictions through quotas.
HYDRO CIRCAL all set to meet the growing demand for verified low-carbon & circular materials across the US market. Hydro CIRCAL—produced with a minimum 75 % post-consumer recycled aluminum scrap—is now broadly available in the United States. Delivering an ultra-low carbon intensity of < 2 kg CO₂e per kilogram of aluminum (up to five times below the global average), the alloy sets a new industry benchmark for sustainable metal. Strategic U.S. partnerships have already begun deploying Hydro CIRCAL across multiple projects, embedding low-carbon aluminum into mainstream applications and accelerating decarbonisation in the built environment.
Transportation & Logistics
Cold chain market in Middle East and North Africa expected to hit $41.1 billion by 2030. The cold chain market is expected to reach $41.1B by the end of 2030 with a CAGR of 8.8% for 2025-2030. The current base value of the MENA market is $24.9B as of 2024. Saudi Arabia is leading the regional cold chain market, accounting for 36% of the market in 2024. It is expected to maintain its lead through 2030, with a CAGR of 10.6% and a projected market value of $16.5B. The country has made notable strides in strengthening its cold chain infrastructure as part of its national food security strategy.
US, China agree on deal for tariffs, rare-earth magnets. United States Treasury Secretary Scott Bessent said that U.S. tariffs on Chinese imports will now start at 30%, while China’s duty rate on goods from the U.S. will be at 10%. The 20% fentanyl levy on China will also stay in place. Bessent also said China has agreed to remove its restrictions on exports of rare-earth metals.
FedEx to close 30% of package facilities as network integration ramps up. FedEx Corp. plans to close 30% of its U.S. package distribution facilities within two years under its Network 2.0 consolidation program, which is gaining momentum and expected to contribute toward $200 million in savings this quarter, executives said during an earnings briefing.
Energy
Oil set for steepest weekly decline in two years as risk subsides. Oil prices rose on Friday but were set for their steepest weekly decline since March 2023, as the absence of significant supply disruption from the Iran-Israel conflict saw any risk premium evaporate. Brent crude futures were up 53 cents, or 0.78%, to $68.26 a barrel, while U.S. West Texas Intermediate crude was up 59 cents, or 0.9%, to $65.82.
Others
Dollar weakest since 2021 against euro as Fed rate cuts bets rise. The dollar hit a fresh three-and-a-half-year low against the euro on Friday as traders bet that the Federal Reserve will cut rates more times and possibly sooner than previously expected as some U.S. data points to a weakening economy. A report on Friday showed that U.S. consumer spending unexpectedly fell in May as the boost from the pre-emptive buying of goods like motor vehicles ahead of tariffs faded, while monthly inflation increases remained moderate.
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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.