New On The Block
- Critical Metals Corp. (NASDAQ:CRML) launched a strategic review of non-core assets as it shifts its focus toward developing the Tanbreez rare earth project in Greenland. The company hired Clear Street to evaluate options, including asset sales, joint ventures, partnerships, and spin-offs to unlock shareholder value. White & Case LLP is acting as legal advisor to Critical Metals Corp.
Updates From The Block
- Blackstone (NYSE:BX) announced that funds managed by Blackstone Energy Transition Partners have entered into an agreement to acquire Dresser Utility Solutions, a provider of mission-critical natural gas and water measurement, control and infrastructure equipment solutions, from First Reserve. Terms of the transaction were not disclosed. The transaction is subject to customary closing conditions.
- RMH Systems, a provider of turnkey automation, material handling, packaging, and industrial scale solutions, has acquired Top Shelf Integrated Solutions, a material-handling integrator. RMH’s acquisition of Top Shelf expands its material handling capabilities, adds a presence in central Ohio, and broadens its automation and packaging offerings. Terms of the deal were not disclosed.
- Private equity firm Sentinel Capital Partners, is acquiring DecoPac Inc., a supplier of cake decorating solutions for bakeries, foodservice operators, and DIY decorators, from private equity firm Kohlberg. Terms of the deal were not disclosed.
- Russell Investments has agreed to be acquired by an investor consortium backed by B Capital and including California Public Employees’ Retirement System (CalPERS), which will buy the firm from TA Associates and Reverence Capital Partners. Russell Investments will remain an independent company under its current leadership, with plans to expand its investment platform through technology, customization, analytics, and broader investor access. The deal is expected to close in the first quarter of 2027, pending regulatory approvals.
- Tricor Pacific Capital bought Arctec Alloys Limited, bringing together Arctec Alloys and its existing portfolio company, Rockmount Research & Alloys, to create a North American maintenance-welding platform. As part of the transaction, Mark Trenke will continue as President of Arctec and remain an equity partner. Working alongside Chuck Cosman, he will help lead the combined maintenance welding platform as the organizations pursue their next phase of growth together. Terms of the deal were not disclosed.
- Solina has acquired Denver-based Epicurean Butter, a producer of flavored compound butters, expanding its capabilities in butter and dairy innovation. The business will continue operating from its existing Denver facility under its current leadership, including CEO Stephen Owens, while serving as Solina USA’s center of excellence for dairy innovation. Financial terms were not disclosed.
Off The Block
- Ecolab (NYSE:ECL) has closed its approximately $4.75 billion acquisition of CoolIT Systems, a provider of direct liquid cooling technology for high-density data centers.
- York Space Systems (NYSE:YSS), a national defense and commercial prime company, completed its acquisition of ALL.SPACE, a provider of advanced satellite communications terminals and multi-network connectivity solutions, for approximately $300 million.
Bankruptcy Block
- Whitewater Amphitheater, a Texas-based outdoor music venue, has filed for Chapter 11 bankruptcy protection. The petition listed assets in the range of $10 million to $50 million and liabilities in the range of $1 million to $10 million.
- Southwest Concrete Pumping, a concrete placement service for commercial, residential, and government construction projects, filed for Chapter 11 bankruptcy. The company listed assets between $1 million and $10 million and liabilities for the same amount.
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