Key transactions & industry newsWeekly Update 07/24/2026

What We Found Interesting This Week

July 21, 2026 – ITE Management L.P., a leading alternative asset manager focused on industrial transportation and infrastructure, announced the acquisition of North American Chassis Pool Cooperative, further scaling its premium North American chassis platform to more than 60,000 assets with national scale and broad market coverage for intermodal customers. (PRNewswire)


ITE’s acquisition of NACPC is a bet that the freight market is moving closer to a recovery and that scaled infrastructure platforms will capture more of the upside when volumes improve. By taking its chassis platform above 60,000 assets and expanding national coverage, ITE is building greater network density across a critical but often overlooked part of the intermodal system. The deal should improve equipment availability, reduce repositioning inefficiencies, and make the platform more relevant to large customers that want consistent service across multiple freight corridors. It also gives ITE more operating leverage if container and intermodal activity strengthens, because a larger installed fleet can generate better utilization and spread fixed costs across a broader asset base. The timing is important given the prolonged downturn across transportation, with many public freight companies now pointing to improving macro conditions even though the recovery remains uneven. Rather than waiting for volumes to fully normalize, ITE is using the weaker part of the cycle to consolidate assets and strengthen its market position. The broader read-through is that the firm is positioning itself to be a more important national player in chassis and intermodal infrastructure before the freight recovery is fully reflected in asset values and competition for scale increases.

Recent M&A Transactions

Metals & Mining

July 22, 2026 – NOVAGOLD Resources said it would acquire the shares it does not already ​own in Donlin Gold from Paulson Advisors in an all-stock ‌deal that would create a gold producer worth $4.2B. (Reuters)

July 20, 2026 – Slate Capital Group announced the sale of its portfolio company, O’Donnell Metal Deck & Bar Joist to Clarendon Capital. (RoofingContractor)

Transportation & Logistics

July 22, 2026 – Fundamental Advisors, an established alternative asset manager focused on municipal, public purpose and community assets, recently announced the acquisition of BlueSky Helicopters, a Southern California-based aerial services operator focused primarily on firefighting, utility services and other essential aviation services. (PRNewswire)

July 21, 2026 – RMH Systems, a leading provider of automation, material handling, packaging, robotics, and industrial scale solutions, is excited to announce its partnership with Systems in Motion, a material handling integrator and warehouse automation solutions provider headquartered in Elgin, Illinois. (BusinessWire)

July 21, 2026 – ITE Management L.P., a leading alternative asset manager focused on industrial transportation and infrastructure, announced the acquisition of North American Chassis Pool Cooperative, further scaling its premium North American chassis platform to more than 60,000 assets with national scale and broad market coverage for intermodal customers. (PRNewswire)

July 20, 2026 – Brookfield Asset Management and Canada Pension Plan Investment Board have agreed to buy LXP Industrial Trust in an all-cash deal valued at about $5.2B, adding a portfolio of modern warehouse and logistics facilities to their holdings. (WSJ)

Building Products & Materials

July 20, 2026 – Amrize has entered into an agreement to acquire Rapid Redi-Mix LLC, a fast growing concrete producer in the Dallas-Fort Worth metro area. (Amrize)

Energy

July 23, 2026 – Matador Resources said it would buy privately held Paloma Permian from EnCap ​Investments for about $1.28B, adding high-quality drilling assets ‌in the oil-rich Delaware Basin.(Reuters)

July 22, 2026 – Brookfield Asset Management (NYSE:BAM, TSX:BAM) entered into an agreement to acquire Aypa Power, the largest standalone battery energy storage platform in North America with approximately 6.5 GW of operating, under-construction and contracted capacity and a >20 GW development pipeline across the US and Canada, from funds managed by Blackstone Energy Transition Partners, for approximately $7B. (Blackstone)

July 22, 2026 – MN8 Energy Holdings LLC, a scaled power platform developing, owning, and operating energy assets for enterprise customers, with over 4.3 GW of operating and under construction renewable capacity across 29 states, and Greenbacker Renewable Energy Company LLC, an Independent Power Producer that owns a ~1.9 GW fleet of operating and under construction renewable energy assets across 22 states, announced a definitive agreement under which MN8 will acquire Greenbacker in a cash-and-equity transaction valued at up to approximately $375M. (BusinessWire)

July 21, 2026 – Ensign Energy Services Inc. announce that it, through a subsidiary, has entered into an agreement with the shareholders of Citadel Drilling Ltd. for Ensign to acquire, subject to certain closing conditions, all of the issued and outstanding shares of CDL for consideration of $65M. (PRNewswire)

July 21, 2026 – Iberdrola has reached an agreement to acquire Caruna, Finland’s leading electricity distribution company, in a transaction valuing 100% of the company at around $5.7B, including its financial debt. (Iberdrola)

July 21, 2026 – Vår Energi ASA and BlueNord ASA announced a merger that they said would create Europe’s biggest independent oil and gas producer. (YahooFinance)

July 21, 2026 – Magnolia Oil & Gas Corporation (NYSE:MGY) announced that the Company has entered into a definitive purchase agreement to acquire WildFire Energy for approximately $4.06B, inclusive of WildFire’s debt and subject to customary purchase price adjustments. (Magnolia)

Others

July 21, 2026 – Utz Brands has agreed to be taken private by German salty-snacks-maker Intersnack Group at an enterprise value of about $2.9B. (WSJ)

Top News Stories

Metals & Mining

ElvalHalcor launches new shares, backs ~$977M aluminum rolling mill expansion by 2030. Athens-based aluminum manufacturer ElvalHalcor’s newly issued shares have officially started trading on Euronext Athens. The shares were launched after the successful completion of the company’s recent share capital increase, which attracted strong interest from both institutional and retail investors.

Global aluminum deficit may widen beyond 900Kt amid Hormuz shipping disruptions. Norsk Hydro has warned that the global aluminum market could face a deeper supply deficit if disruptions to shipping through the Strait of Hormuz continue, with prolonged constraints expected to tighten the availability of both raw materials and finished metal.

Kaiser Aluminum’s record Q2’26: Net sales top $1.3B, EBITDA gains 102.4%. U.S.-based semi-fabricated aluminum producer Kaiser Aluminum Corporation reported its strongest-ever second-quarter (Q2) financial performance, supported by higher aluminum prices, stronger conversion revenue and improved operating performance.

Chile plans $100B copper push to find buyers beyond China. Chile is eyeing about $100B in copper investments over the next decade as it seeks to tap demand from data centers and diversify its customer base beyond China, according to its top diplomat.

Transportation & Logistics

Temco Logistics ending operations at Dallas center, 71 laid off. A delivery and logistics provider is permanently shutting down operations at its facility in West Dallas and laying off 71 workers as it ends its flatbed delivery service nationwide.

Railroad stocks rally as more cargo moves from trucks to trains. Shares of freight railroads Union Pacific, CSX and Norfolk Southern jumped after they reported higher revenue, as more shippers moved their cargo from truck to rail.

CN and UP reach settlement on Norfolk Southern merger. Canadian National said it will not oppose the Union Pacific-Norfolk Southern rail merger in a sweeping set of deals that gives it better access to the U.S. Midwest and Mexico.

Kuehne+Nagel could sell stake in Apex Logistics unit. Kuehne+Nagel International AG is considering strategic options for its Apex Logistics unit, an Asia-focused freight forwarder, people with knowledge of the matter said.

Energy

I Squared Capital joins Saudi Tabreed in bid for KAFD district cooling assets, sources say. U.S. infrastructure investor I Squared Capital has joined Saudi Arabia’s Saudi Tabreed in bidding for the district cooling assets of Riyadh’s King Abdullah Financial District (KAFD), ​according to three sources familiar with the matter.

U.S. reaches nuclear power deal with Saudi Arabia. The U.S. and Saudi Arabia reached an agreement on civil nuclear power, letting the kingdom enrich uranium ​and build nuclear reactors using U.S. technology, without requiring the snap UN inspections that Washington has previously demanded from Iran.

QatarEnergy prepares to extend force majeure on LNG into mid-October, Bloomberg News reports. QatarEnergy is readying to extend ​force majeure on liquefied ‌natural gas shipments through mid-October, Bloomberg News reported.

Others

Google discloses $94.1B in SpaceX stock, marking 6% stake. Google said it owns $94.1B in SpaceX, a roughly 6% stake in the newly public company.

Blackstone’s profit surges on AI investments. Blackstone’s profits are being powered by AI. The investment giant’s earnings surged in the second quarter, as it reaped revenue from its investments in the country’s massive artificial-intelligence build-out that span all of the firm’s major businesses, including its private-equity, private-credit and real estate units.

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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