Key transactions & industry newsWeekly Update 03/06/2026

What We Found Interesting This Week

Mar 3, 2026 – Aluminium Bahrain (Alba) has signed an exclusive agreement to acquire Aluminium Dunkerque, the largest primary aluminum smelter in the European Union (EU), from American Industrial Partners. The transaction values Aluminium Dunkerque at over $1.17B. (YahooFinance)


Alba’s agreement to acquire Aluminium Dunkerque, Europe’s largest primary aluminum smelter with ~300,000 tonnes of annual capacity, reflects its long-term strategic vision to establish an industrial foothold in Europe while pairing its large scale and low cost smelting plants with Dunkerque’s established strong customer base and low carbon production supported by long-term power agreements. The ~$1.1B all-cash transaction positions Alba to capture value from the supply shortage emerging across Europe, where elevated energy costs and Chinese import competition have pressured domestic smelting capacity even as EV and other energy transition demand continues to grow. The transaction highlights a broader industry dynamic in which strategic aluminum buyers are replacing private equity ownerships, which implies that consolidation, decarbonization capabilities, and regional supply chain resilience have become the main investment themes in aluminum M&A, rather than lower cost production alone.

Recent M&A Transactions

Metals & Mining

Mar 5, 2026 – LT Corporation, a Mississippi-based company, has acquired Commercial Metal Forming, which is headquartered in Youngstown. (YahooFinance)

Mar 5, 2026 – USA Rare Earth said it would acquire the remaining minority interest ​in a Texas rare earth deposit in an all-stock transaction ‌worth $73M, as part of its efforts to boost domestic production of critical minerals. The company will acquire all of the outstanding shares of Texas Mineral Resources, for about 3.8 million shares of USA Rare Earth common stock. (Reuters)

Mar 4, 2026 – Canada’s SSR Mining said it had entered a binding memorandum of ‌understanding to sell its 80% stake in Turkey’s Copler mine to Cengiz Holding A.S. for $1.5B in cash. (Reuters)

Mar 3, 2026 – American Securities LLC, a leading U.S. private equity firm, has entered into a definitive agreement to sell CPM Holdings Inc. and ASP MWI Holdings Inc., two of its portfolio companies, to Rosebank Industries (LON:ROSE) in a transaction valued at an enterprise value of $3.25B, inclusive of an up to $200M potential earnout payment. (PRNewswire)

Mar 3, 2026 – Aluminium Bahrain (Alba) has signed an exclusive agreement to acquire Aluminium Dunkerque, the largest primary aluminum smelter in the European Union (EU), from American Industrial Partners. The transaction values Aluminium Dunkerque at over $1.17B. (YahooFinance)

Mar 2, 2026 – Hudbay Minerals said it will buy ​the remaining shares in Arizona Sonoran Copper Company for $1.48B, as the Canadian ‌miner expands its footprint to capitalize on the growing demand for the red metal. (Reuters)

Transportation & Logistics

Mar 5, 2026 – Global Infrastructure Partners, a part of BlackRock, a leading global infrastructure investor, announced that it has entered into a definitive agreement to acquire TCR, the largest independent lessor of airport ground support equipment, from 3i Infrastructure plc. (BusinessWIre)

Mar 5, 2026 – SAL Saudi Logistics Services Co. has agreed to acquire Belgium-based Aviapartner Liege SA for $30.3M, giving the Saudi logistics firm a foothold at one of Europe’s major air cargo hubs. (ArabNews)

Mar 4, 2026 – Redwood Logistics, one of North America’s leading modern fourth-party logistics providers, announced the acquisition of EELCO, a Laredo, Texas-based customs brokerage and warehousing provider with more than 30 years of experience at the U.S.–Mexico border. (GlobeNewsWire)

Mar 4, 2026 – European private equity firm Waterland has entered a strategic partnership with Palletways, Europe’s leading palletised freight network, to support the company’s next phase of European expansion and deliver operational excellence. (Waterland)

Mar 3, 2026 – Thoma Bravo, the world’s largest technology-focused investment firm, has entered into a definitive agreement to acquire WWEX Group, a leading third-party logistics (3PL) provider of parcel and freight services with brands including Worldwide Express, GlobalTranz, Unishippers, JEAR Logistics and BLX Logistics. (PRNewswire)

Mar 3, 2026 – Fr. Meyer’s Sohn, the Hamburg-based global logistics company, has announced the successful acquisition of CFT Corporation, a Canadian logistics specialist based in Toronto with strong expertise in North American agricultural logistics. (TheLoadStar)

Building Products & Materials

Mar 5, 2026 – Saber Power Services, LLC, a portfolio company of Greenbelt Capital Partners, announced the acquisition of Bounds Construction II, LLC, a privately held company specializing in foundation construction for industrial, utility, and energy infrastructure projects. (BusinessWire)

Mar 4, 2026 – Allegion plc (NYSE:ALLE), a leading global security products and solutions provider, through one of its subsidiaries, has acquired privately held DCI Hollow Metal on Demand. (BusinessWire)

Mar 4, 2026 – GMS Inc. has acquired Above Interior Distributors, Inc., a leading supplier of specialty acoustical products, ceilings, and related building materials with one location serving the Miami-Dade metro area and South Florida. (BusinessWire)

Energy

Mar 4, 2026 – Exus Renewables North America, a leading independent developer and operator of utility-scale renewable energy projects, announced the acquisition of Ozone Renewables, adding new assets and expertise to the company’s greenfield development team and early-stage project pipeline. (PRNewswire)

Mar 2, 2026 – A consortium led by BlackRock’s Global Infrastructure Partners and Swedish private-equity firm EQT AB has agreed to buy U.S. power company AES Corp for $33.4B, ​including debt, in one of the biggest acquisitions in the sector. (Reuters)

Others

Mar 3, 2026 – Banijay Group agreed to combine its entertainment arm with All3Media in a deal that will create a media and entertainment group valued at roughly $5B, with brands such as “Peaky Blinders,” “Big Brother” and “The Traitors” under one roof. (WSJ)

Top News Stories

Metals & Mining

Rio Tinto advances Amrun bauxite expansion as new projects gather pace. Rio Tinto, a leading global mining group, holds various projects, aiming to enhance its Amrun bauxite operations in the far north of Queensland.

Hyundai commits $6B to build hydrogen, AI and solar innovation hub in South Korea. An investment $6B for establishing a high-tech innovative hub to be located in Saemangeum, Gunsan, will be made by Hyundai Motor Group. This investment targets establishing a high-tech innovative hub with hydrogen production, renewable energy and artificial intelligence.

Rio Tinto halts Japan aluminium premium negotiations on geopolitical risks. The decision was linked to heightened volatility in aluminum prices triggered by escalating regional tensions, the reports said. Rio Tinto has not publicly commented on the matter or indicated when talks may resume.

Aluminum hits highest since 2022 as Alba declares force majeure. Aluminum prices surged to the highest since 2022 after Aluminium Bahrain BSC suspended deliveries of metal to some customers under so-called force majeure clauses in its supply contracts.

Nova Alumina expands beyond aluminum, begins automotive liquids production facility. Nova Alumina, an aluminum products manufacturer based in Bosnia and Herzegovina, has begun construction of a new facility dedicated to producing automotive liquids. The company announced that the plant would manufacture essential fluids used in modern vehicle systems, including AdBlue, antifreeze, and windshield washer fluid.

Hydro to close extrusion plant in Lucé, France. Hydro has decided to further consolidate the Extrusions operations in Europe with a proposal to close the Lucé plant in France. This move is made to optimize the extrusion footprint in Europe and strengthen competitiveness.

Qatalum curtailing aluminum production. Norsk Hydro ASA says it has begun a controlled shutdown of its Qatalum primary aluminum smelter that is expected to be completed by the end of the month.

Nigeria signs $1.3B alumina refinery deal with AFC to boost mining sector. Africa Finance Corporation and the Federal Government of Nigeria have signed a deal to invest in three major mining projects. One of them includes $1.3B for an aluminum refinery project.

Transportation & Logistics

Crude tanker rates go through the roof amid West Asia conflict. Freight rates for crude tankers have spiked dramatically and doubled over the week as the conflict in West Asia continues to unsettle traffic through the Strait of Hormuz, the world’s most critical oil shipping corridor, pushing up crude oil prices.

U.S.- Mexico trade hits new high of $872B in 2025. Mexico remained the United States’ largest trading partner for the third consecutive year in 2025, with two-way commerce reaching a record $872.83B.

The Dalilah Law could create a trucking rate super cycle. The Dalilah Law, the Senate bill introduced by Sen. Jim Banks (R-Ind.) following President Trump’s call during the State of the Union, would trigger a sharp, immediate contraction in trucking capacity if enacted, potentially igniting a trucking super cycle with overnight rate surges amid severely tight supply.

Energy

U.S. to reinsure maritime losses in Gulf up to about $20B, agency says. The U.S. ​will provide reinsurance for losses up to $20B ‌in the Gulf region, to help provide confidence for oil and gas shippers during the war on Iran, the ​U.S. International Development Finance Corporation said.

BP seeks at least $3.7B from Venture Global arbitration, filing says. BP is seeking ‌at least $3.7B from its arbitration win against Venture Global in a case concerning liquefied natural gas cargos, Venture Global's annual report shows.

Exxon to send its first fuel shipment from U.S. Gulf Coast to Australia, sources say. Exxon Mobil is set to ship around 600,000 barrels of fuel from the U.S. Gulf Coast to cover its own import requirements in Australia, the first such shipments by the oil major.

U.S. approves construction of Bill Gates-backed nuclear reactor in Wyoming. The U.S. nuclear regulator said it approved construction for the Bill Gates-backed TerraPower small nuclear reactor in Wyoming, the first approval for a plant expected to run on a special, ​more-enriched uranium fuel.

Babcock & Wilcox gets nod for $2.4B project to power AI campuses. Babcock & Wilcox said an Applied Digital-backed company has given a go-ahead to ​their $2.4B deal to deliver equipment that would power ‌the technology firm's artificial intelligence campuses.

Others

Kuwait cuts oil production as fallout from Iran conflict intensifies. Kuwait has begun cutting oil production because it is running out of storage space, as the fallout from the Iran conflict spreads across the Middle East and casts a pall over the global economy.

Activist Elliott invests $1B in Pinterest. Activist investor Elliott Investment Management has injected $1B into Pinterest, which the company will use to repurchase shares.

China’s traditional businesses try to buy into AI boom. Investors have poured billions of dollars into China’s chip makers. The country’s real-estate companies, furniture makers and ham producers want a piece of the action, too.

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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