Recent Infrastructure Acquisitions
Acquisition Volume in Infrastructure by Year
Last 5 years
This page highlights recent infrastructure acquisitions spanning data centers, transportation construction and maintenance, and smart/asset‑enabled roadway technologies. Transactions range from regional paving and pavement‑marking add‑ons to large data‑centre platform deals and strategic rail‑maintenance tuck‑ins.
Buyers include strategic operators and financial sponsors: examples in the listings are Consor Engineers acquiring Cavnue for smart‑road integration, data‑centre moves by Syntys (Ooredoo Group) and the sale of Chindata, and platform builds or add‑ons by firms like Frontline Road Safety, Construction Partners, Inc., Vossloh AG, TPG, La Caisse, and Argo Infrastructure Partners. Recent events show geographic activity across multiple U.S. states as well as transactions in Qatar, China and Sweden.
What Stands Out
- Data‑centre and digital infrastructure deals feature prominently: examples include acquisitions of Chindata, expansions by Syntys (Ooredoo Group) and portfolio moves by Argo Infrastructure Partners and RadiusDC.
- Roadworks and traffic‑safety platforms are active targets: add‑ons and regional rollups include Construction Partners, Inc. (paving), TRP Infrastructure Services (pavement marking) and Frontline Road Safety (rumble‑strip and roadway safety services).
- Strategic technology plays appear in transportation: Consor Engineers acquired Cavnue to combine engineering delivery with AI‑enabled smart‑road and digital‑twin technologies.
- Cross‑border and sector diversity: recent deals span the United States (multiple states), Qatar, China and Sweden, and include both brownfield/site assets and specialist services/capability tuck‑ins.
- Private capital participation is visible across deal sizes, with sponsors and institutional infrastructure funds taking majority stakes, platform increases and corporate buyouts (examples in the listings include Bain Capital, TPG, La Caisse and other recurring buyers).
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- Buyer
- Stonepeak, Alphabet (Google)
- Target
- GFiber, Astound Broadband
- Industry
- Infrastructure
- Location
- United States
- Type
- Buyout
GFiber and Stonepeak announced an agreement to combine GFiber with Astound Broadband, creating a new independent U.S. fiber internet provider. The new entity will be majority owned by Stonepeak, with Alphabet retaining a significant minority stake, and the deal is expected to close in the fourth quarter following regulatory approvals.
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March 9, 2026
- Buyer
- Graybar
- Target
- Broken Arrow Electric Supply
- Industry
- Infrastructure
- Location
- Oklahoma, United States
- Type
- Buyout
Graybar plans to acquire Oklahoma-based Broken Arrow Electric Supply (BAES), pending regulatory approval, to expand its presence in Oklahoma. BAES will continue operating under the Broken Arrow Electric Supply name as a Graybar subsidiary with the same team, locations, and suppliers.
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- Buyer
- EQT
- Target
- Kelda Holdings Limited, Yorkshire Water
- Industry
- Infrastructure
- Location
- United Kingdom
- Type
- Growth capital
EQT has agreed to acquire a 42% shareholding in Kelda Holdings Limited, the parent company of Yorkshire Water. The deal is being made through EQT’s Active Core Infrastructure strategy and is subject to regulatory approvals, including antitrust review. The investment supports Yorkshire Water’s multi-year capital spending plan, including an £8.3 billion environmental program for 2025–2030 and expected hiring of more than 1,000 employees.
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- Buyer
- Essential Utilities, Inc. (Aqua Pennsylvania), Aqua Pennsylvania
- Target
- Greenville Municipal Water Authority
- Seller
- Greenville Municipal Water Authority Board (implied)
- Industry
- Infrastructure
- Location
- Pennsylvania, United States
- Type
- Buyout
Essential Utilities, Inc. (NYSE: WTRG) announced that its Aqua Pennsylvania subsidiary finalized an $18 million purchase of the Greenville Municipal Water Authority in Mercer County, Pennsylvania. The system serves about 2,900 customers, and Aqua Pennsylvania plans to invest approximately $10 million over the next decade in upgrades and repairs to pipelines and system operations.
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March 2, 2026
- Buyer
- Global Infrastructure Partners (GIP) (part of BlackRock), EQT Infrastructure VI, California Public Employees' Retirement System (CalPERS), Qatar Investment Authority (QIA)
- Target
- The AES Corporation
- Industry
- Infrastructure
- Location
- United States
- Type
- Buyout
The AES Corporation has entered into a definitive agreement to be acquired for $15.00 per share in an all-cash transaction valued at $10.7 billion in equity value by a consortium led by Global Infrastructure Partners (a part of BlackRock) and EQT Infrastructure VI. The deal is expected to close in late 2026 or early 2027, subject to shareholder approval and regulatory clearances, and will take AES private.
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February 27, 2026
- Buyer
- Azuria Water Solutions, New Mountain Capital
- Target
- Waterline Renewal Technologies
- Seller
- Behrman Capital
- Industry
- Infrastructure
- Location
- Illinois, United States
- Type
- Buyout
Behrman Capital announced the sale of its portfolio company, Waterline Renewal Technologies, to Azuria Water Solutions, a portfolio company of New Mountain Capital. Waterline provides engineered trenchless products and services for the rehabilitation of wastewater and stormwater infrastructure.
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February 27, 2026
- Buyer
- Equinix, CPP Investments
- Target
- atNorth
- Seller
- Partners Group
- Industry
- Infrastructure
- Location
- Iceland
- Type
- Buyout
Canada Pension Plan Investment Board (CPP Investments) and Equinix entered into a joint agreement to acquire atNorth, a Nordic high-density colocation and built-to-suit data center provider, from Partners Group. The transaction values atNorth at US$4 billion enterprise value and is subject to customary regulatory and closing conditions.
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February 24, 2026
- Buyer
- BayHawk Capital
- Target
- Gridco
- Industry
- Infrastructure
- Location
- Alabama, United States
- Type
- Growth capital
Gridco, a provider of maintenance, upgrade, and construction services to electric utilities, received a strategic growth investment from BayHawk Capital. The investment is intended to support organic growth and strategic acquisitions, while expanding Gridco’s capacity to serve utility clients and grow its workforce.
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February 17, 2026
- Buyer
- Macquarie Asset Management
- Target
- IHS Towers’ South American wireless tower operations (via IHS Mauritius BR Limited)
- Seller
- IHS Mauritius BR Limited (part of IHS Holding Limited)
- Industry
- Infrastructure
- Location
- Brazil
- Type
- Buyout
Macquarie Asset Management, on behalf of a privately managed infrastructure fund, agreed to acquire IHS Towers’ South American wireless tower operations. The deal covers more than 8,500 tower sites in Brazil and 270 sites in Colombia, with closing expected later in 2026 subject to conditions.
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February 16, 2026
- Buyer
- OnSite Partners, LLC
- Target
- One Power Company
- Industry
- Infrastructure
- Location
- Ohio, United States
- Type
- Buyout
OnSite Partners, LLC announced it has acquired the business interests of Ohio-based industrial power company One Power. The deal expands OnSite Partners’ behind-the-meter distributed generation portfolio and strengthens its energy infrastructure operations, maintenance, and construction capabilities.
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February 10, 2026
- Buyer
- Gibson Energy Inc.
- Target
- Teine Energy Ltd. Chauvin Infrastructure Assets
- Seller
- Teine Energy Ltd.
- Industry
- Infrastructure
- Location
- Alberta, Canada
- Type
- Buyout
Gibson Energy has entered into a definitive agreement to acquire Teine Energy Ltd.’s Chauvin Infrastructure Assets for total cash consideration of $400 million (subject to closing adjustments). The transaction expands Gibson’s heavy crude oil network by connecting Chauvin to the Hardisty oil hub and includes long-term take-or-pay and area-of-dedication agreements with Teine Energy.
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February 6, 2026
- Buyer
- KKR, Singtel Group, ST Telemedia
- Target
- ST Telemedia Global Data Centres (STT GDC)
- Seller
- ST Telemedia (founding shareholder)
- Industry
- Infrastructure
- Location
- Singapore
- Type
- Buyout
KKR and Singtel, with ST Telemedia, announced they have signed definitive agreements for a consortium led by funds managed by KKR and Singtel to acquire the remaining 82% stake in ST Telemedia Global Data Centres (STT GDC). The deal values STT GDC at an implied enterprise value of about S$13.8 billion (including leverage and committed capex), with expected closing in the early second half of 2026 subject to conditions and regulatory approvals.
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February 5, 2026
- Buyer
- Consor Engineers
- Target
- Cavnue
- Industry
- Infrastructure
- Location
- District of Columbia, United States
- Type
- Buyout
Miami-based Consor Engineers has acquired Cavnue to integrate its AI-enabled smart roads platform with Consor's transportation engineering and delivery capabilities. The deal expands Consor's digitally enabled infrastructure offerings and accelerates deployment of Cavnue's digital-twin and sensor-driven roadway technologies to transportation agencies and infrastructure owners across the United States.
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January 22, 2026
- Buyer
- Cerberus Capital Management (affiliates)
- Target
- Datawave Networks
- Industry
- Infrastructure
- Location
- Cyprus
- Type
- Growth capital
Datawave Networks, an independent subsea infrastructure provider, signed a binding investment and financing agreement with affiliates of Cerberus Capital Management to fund and accelerate the Singapore-India-Gulf (SING) subsea fiber optic cable system. Cerberus is expected to make a significant equity investment for majority ownership of Datawave and also provide project financing intended to support construction and deployment, targeting a Ready for Service date in 2030.
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January 20, 2026
- Buyer
- Syntys, Ooredoo Group
- Target
- Q Data QFZ LLC
- Seller
- Doha Venture Capital, Qatar Free Zones Authority
- Industry
- Infrastructure
- Location
- Qatar
- Type
- Buyout
Syntys, the data‑centre platform linked to Ooredoo Group, has acquired Q Data QFZ LLC from Doha Venture Capital, adding 5MW of live IT capacity and 7.5MW under development (12.5MW total) across two Tier III, carrier‑neutral facilities in the Qatar Free Zones. The deal expands Syntys' hyperscale capacity in Qatar to 26MW and supports its regional growth plan to exceed 120MW across MENA by 2030 while aligning with Qatar's digital economy and sovereign AI objectives.
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January 16, 2026
- Buyer
- TRP Infrastructure Services, Arlington Capital Partners
- Target
- Striping Technology, L.P.
- Seller
- Linda Rudd
- Industry
- Infrastructure
- Location
- Texas, United States
- Type
- Addon
TRP Infrastructure Services, a Fort Worth-based pavement marking and traffic control platform backed by Arlington Capital Partners, has acquired Striping Technology, L.P., a Tyler, Texas pavement marking contractor. Striping Technology will operate as TRP's East Texas division to deepen the company's presence in Texas and accelerate TRP's expansion across the Southeast; financial terms were not disclosed.
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January 16, 2026
- Buyer
- Shenzhen Dongyangguang Industry Co., Ltd. (HEC) - led consortium
- Target
- Chindata (WinTriX China business)
- Seller
- Bain Capital
- Industry
- Infrastructure
- Location
- Beijing, China
- Type
- Divestiture
Bain Capital has completed the sale of WinTriX DC Group’s China business, which operates as Chindata, to a consortium led by Shenzhen Dongyangguang Industry Co., Ltd. (HEC) in a transaction valuing the business at approximately $4.0 billion. Bain described the closing as a strategic exit after backing the platform since 2018; the buyer consortium said it plans to build on Chindata’s footprint amid rising demand for AI, cloud and big‑data infrastructure.
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January 13, 2026
- Buyer
- Vossloh AG
- Target
- Nordic Tamping Service AB
- Industry
- Infrastructure
- Location
- Dalarna County, Sweden
- Type
- Buyout
German rail-infrastructure supplier Vossloh AG has acquired Nordic Tamping Service AB (NTS), a Borlänge, Sweden-based ballast tamping services provider. The acquisition adds tamping capability and specialist machinery to Vossloh's Lifecycle Solutions unit, broadening its track maintenance and lifecycle offering across Scandinavia; financial terms were not disclosed.
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- Buyer
- I Squared Capital
- Target
- Ramudden Global
- Seller
- Funds advised by Triton Partners
- Industry
- Infrastructure
- Location
- United Kingdom
- Type
- Buyout
I Squared Capital, through its flagship fund, agreed to acquire Ramudden Global from funds advised by Triton Partners. Ramudden provides traffic management and infrastructure safety services supporting maintenance and upgrades across transport and utility networks, operating more than 190 depots across 13 countries in Europe and North America.
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January 8, 2026
- Buyer
- A. O. Smith Corporation
- Target
- Leonard Valve Company, LVC Holdco LLC, Heat-Timer Corporation
- Seller
- Bessemer Investors LLC, Niles Wilcox
- Industry
- Infrastructure
- Location
- Rhode Island, United States
- Type
- Buyout
A. O. Smith entered into a definitive agreement to acquire Leonard Valve Company (including LVC Holdco LLC and its Heat-Timer brand) for $470 million to expand its water management and digital controls capabilities. The deal closed in early 2026, deepening A. O. Smith’s position in water temperature and flow control and broadening its commercial and institutional product portfolio.
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January 6, 2026
- Buyer
- Frontline Road Safety, Bain Capital
- Target
- Surface Preparation Technologies (SPT)
- Seller
- Dominus Capital
- Industry
- Infrastructure
- Location
- Pennsylvania, United States
- Type
- Addon
Frontline Road Safety, a Bain Capital portfolio company, has acquired Surface Preparation Technologies (SPT) from Dominus Capital. SPT, headquartered in New Kingstown, Pennsylvania, provides rumble strips and roadway safety services across the U.S.; the deal is an add-on to Frontline's road-safety platform and terms were not disclosed.
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January 2, 2026
- Buyer
- Alphabet Incorporated, Google, TPG Rise Climate (majority backing of IPX Power)
- Target
- Intersect Power, IPX Power (new independent power producer spun out from Intersect’s grid-tied business)
- Seller
- TPG Rise Climate (sold its stake in Intersect), Existing Intersect investors that spun off the grid-tied business into IPX Power (including TPG, Google, Climate Adaptive Infrastructure, and Greenbelt Capital Partners)
- Industry
- Infrastructure
- Location
- United States
- Type
- Buyout
Alphabet (Google) has acquired Intersect Power for $4.75 billion in cash plus the assumption of debt. As part of the transaction, Intersect’s grid-tied power business was spun out into a new independent power producer, IPX Power, with TPG Rise Climate majority backing and existing Intersect investors also participating in the spinout.
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- Buyer
- Stonepeak
- Target
- TeleTower
- Industry
- Infrastructure
- Location
- Lithuania
- Type
- Buyout
Stonepeak agreed to acquire TeleTower, Bitė Group’s towers business in Lithuania and Latvia. The transaction is expected to close in Q2 2026 and is intended to create the first fully independent tower company in the Baltics, supported by a long-term commercial partnership with Bitė for further tower rollouts and 5G expansion.
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December 19, 2025
- Buyer
- TPG, Caisse de de9pf4t et placement du Que9bec (La Caisse), Pike management
- Target
- Pike Corporation
- Seller
- Lindsay Goldberg
- Industry
- Infrastructure
- Location
- North Carolina, United States
- Type
- Divestiture
Lindsay Goldberg has completed the sale of its interest in Pike Corporation following a 25-year partnership. The transaction transfers a majority stake to TPG and Caisse de dépôt et placement du Québec (La Caisse), alongside Pike management, positioning Pike for accelerated growth in U.S. electric-grid, renewables and telecom infrastructure services.
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December 14, 2025
- Buyer
- Argo Infrastructure Partners
- Target
- TierPoint
- Seller
- Majority of the company's minority shareholders
- Industry
- Infrastructure
- Location
- Missouri, United States
- Type
- Buyout
Argo Infrastructure Partners acquired the equity interests held by the majority of TierPoint's minority shareholders, further increasing Argo's ownership in the data center platform; financial terms were not disclosed and the transaction has closed. The move brings total capital formation under Argo's ownership to $3.0 billion and is intended to deepen support for TierPoint's national expansion of its 40 data centers across 20 markets and continued financing strategy.
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December 10, 2025
- Buyer
- Enceladus Partners
- Target
- Smith Excavating, LLC
- Seller
- Smith family / Matthew Smith (CEO)
- Industry
- Infrastructure
- Location
- North Carolina, United States
- Type
- Growth capital
Enceladus Partners, a family office, completed an investment in Smith Excavating, LLC, a second‑generation infrastructure services company headquartered in Winston‑Salem, North Carolina. Generational Group advised the transaction; Enceladus said the capital will support regional expansion, fleet and technology investments (including GIS capabilities), and partnership with CEO Matthew Smith to scale the business across the Mid‑Atlantic.
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December 5, 2025
- Buyer
- RadiusDC
- Target
- 55 Marietta carrier-hotel (55 Marietta Street NW, Atlanta)
- Seller
- European family office
- Industry
- Infrastructure
- Location
- Georgia, United States
- Type
- Buyout
RadiusDC has acquired the carrier-hotel facility at 55 Marietta Street NW in downtown Atlanta and will invest to add 8MW of utility capacity, increasing the site's total to 18MW. The 403,000 sq ft, 21-story facility—home to 22 on-net carriers—was purchased from a European family office; RadiusDC said the deal expands its national footprint and supplies critical, connectivity-dense capacity for hyperscalers, content providers and enterprises.
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December 4, 2025
- Buyer
- TRP Infrastructure Services, Arlington Capital Partners
- Target
- Highway Barricades & Services, LLC
- Seller
- Mitra Khan, Bilal Khan
- Industry
- Infrastructure
- Location
- Texas, United States
- Type
- Addon
TRP Infrastructure Services, a portfolio company of Arlington Capital Partners, has acquired Highway Barricades & Services, LLC. The Corpus Christi-based pavement marking and traffic control firm will operate as TRP's South Texas division, expanding TRP's regional footprint and capabilities to better serve government customers such as the Texas Department of Transportation.
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December 3, 2025
- Buyer
- GI Partners
- Target
- Digita Group
- Seller
- Funds managed by an affiliate of DigitalBridge
- Industry
- Infrastructure
- Location
- Finland
- Type
- Buyout
GI Partners has agreed to acquire Digita Group, a leading independent tower and broadcast infrastructure company in the Nordics with nationwide portfolios across Finland and Iceland. The deal is expected to close in the first quarter of 2026, with Digita remaining an independent portfolio company as GI Partners scales its data center and IoT platforms.
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November 23, 2025
- Buyer
- Vantage Data Centers, GIC (affiliate), Abu Dhabi Investment Authority (ADIA) (wholly owned subsidiary)
- Target
- Yondr Group (JHB1 Johor campus)
- Seller
- Yondr Group
- Industry
- Infrastructure
- Location
- Johor, Malaysia
- Type
- Growth capital
Vantage Data Centers completed a $1.6 billion equity investment into its Asia‑Pacific platform led by an affiliate of GIC and a wholly owned subsidiary of ADIA, and used part of that capital to close the acquisition of Yondr Group’s 300MW+ hyperscale campus (JHB1) in Sedenak Tech Park, Johor, Malaysia. The deal expands Vantage’s APAC platform to roughly 1GW of operational and planned capacity and brings more than 30 Yondr APAC team members into the Vantage organization.
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November 20, 2025
- Buyer
- Thumzup Media Corporation
- Target
- Dogehash Technologies, Inc.
- Industry
- Infrastructure
- Location
- United States
- Type
- Buyout
Thumzup Media Corporation (Nasdaq: TZUP) and Dogehash Technologies, Inc. jointly announced an all-stock acquisition in which Thumzup will acquire Dogehash. Under the terms, Dogehash shareholders will exchange 100% of their holdings for 30.7 million shares of Thumzup stock, subject to customary closing conditions and shareholder approval expected in Q4 2025.
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November 8, 2025
- Buyer
- American Gridwork Partners, Legacy Holdings
- Target
- PMT Site
- Industry
- Infrastructure
- Location
- Tennessee, United States
- Type
- Buyout
American Gridwork Partners (AGP), a Legacy Holdings vehicle, has acquired PMT Site, a Nashville-based underground utility and site infrastructure contractor. PMT Site will remain led by founder Phil Terhaar and operate with local autonomy while gaining access to AGP's national platform, shared resources, and growth capital as AGP builds a networked delivery platform for grid modernization.
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November 6, 2025
- Buyer
- Blake L. Sartini and affiliates, VICI Properties Inc.
- Target
- Golden Entertainment, Inc.
- Seller
- Golden stockholders
- Industry
- Infrastructure
- Location
- Nevada, United States
- Type
- Buyout
Golden Entertainment, Inc. entered into a definitive agreement to sell its operating assets to Blake L. Sartini and affiliates, and to sell seven of its casino real estate assets to VICI Properties in a sale-leaseback transaction. Golden stockholders will receive a fixed exchange ratio of 0.902 shares of VICI common stock and $2.75 in cash per share, with the deal expected to close in mid-2026 subject to approvals and conditions.
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November 5, 2025
- Buyer
- Vero Fiber (Vero Broadband, LLC d/b/a Vero Fiber)
- Target
- Telephone Electronics Corporation (TEC)
- Industry
- Infrastructure
- Location
- United States
- Type
- Buyout
Vero Fiber (Vero Broadband, LLC) and Telephone Electronics Corporation (TEC) entered into a definitive merger agreement for Vero to acquire TEC. The acquisition will expand Vero’s fiber-to-the-premises footprint into the Southeast, building on TEC’s broadband presence across Mississippi, Alabama, and Tennessee.
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November 5, 2025
- Buyer
- Hennessy Capital Investment Corp. VII
- Target
- ONE Nuclear Energy LLC
- Industry
- Infrastructure
- Location
- Florida, United States
- Type
- Buyout
Hennessy Capital Investment Corp. VII (HVII) and ONE Nuclear Energy have entered into a definitive business combination agreement under which ONE Nuclear will become a publicly traded company listed on Nasdaq under the ticker symbol “ONEN.” Completion is expected in the first half of 2026, subject to customary closing conditions and approvals.
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- Buyer
- Macquarie Asset Management (Macquarie European Infrastructure Fund 7), LGPS Central Limited, West Midlands Pension Fund, Cheshire Pension Fund
- Target
- Bristol Airport, Birmingham Airport
- Seller
- Ontario Teachers' Pension Plan
- Industry
- Infrastructure
- Location
- England, United Kingdom
- Type
- Buyout
Macquarie Asset Management (through Macquarie European Infrastructure Fund 7), with co-investor LGPS Central Limited (on behalf of West Midlands and Cheshire Pension Funds), has reached financial close to acquire a 55% stake in Bristol Airport and a 26.5% stake in Birmingham Airport. The stakes were purchased from Ontario Teachers' Pension Plan as part of Macquarie's broader UK airports portfolio expansion.
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October 31, 2025
- Buyer
- Sunoco LP
- Target
- Parkland Corporation
- Industry
- Infrastructure
- Location
- Alberta, Canada
- Type
- Buyout
Sunoco LP entered into a definitive agreement to acquire Parkland Corporation in a cash-and-equity transaction valued at approximately US$9.1 billion (including assumed debt), with the goal of expanding fuel supply, scale, and geographic reach. The deal received required regulatory approvals, including Investment Canada Act approval, and ultimately closed on October 31, 2025.
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October 29, 2025
- Buyer
- Sullivan Brothers Family of Companies
- Target
- Cotton Holdings, Inc.
- Seller
- Sun Capital Partners, Inc.
- Industry
- Infrastructure
- Location
- Texas, United States
- Type
- Buyout
Sullivan Brothers Family of Companies (SBFC) has acquired Cotton Holdings, a Houston-based infrastructure support and disaster recovery services platform, from Sun Capital Partners. The deal transfers ownership to the family-founded operator, which says it will invest in expanding Cotton's service capabilities, geographic reach and long-term growth across the U.S. and internationally.
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- Buyer
- American Water Works Company, Inc.
- Target
- Essential Utilities, Inc.
- Industry
- Infrastructure
- Location
- New Jersey, United States
- Type
- Buyout
American Water Works Company and Essential Utilities announced a definitive, all-stock, tax-free merger to create the largest regulated U.S. water and wastewater utility. The combined company is expected to serve about 4.7 million water and wastewater connections across 17 states with an implied enterprise value of approximately $63 billion, with closing expected by end of Q1 2027 subject to approvals.
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October 20, 2025
- Buyer
- Aberdeen Investcorp Infrastructure Partners (AIIP) (Investcorp and Aberdeen Investments joint platform)
- Target
- Al Fadhili Field House for Real Estate Development Company
- Industry
- Infrastructure
- Location
- Eastern Province, Saudi Arabia
- Type
- Growth capital
Aberdeen Investcorp Infrastructure Partners (AIIP), Investcorp's infrastructure platform jointly owned with Aberdeen Investments, has closed the acquisition of a significant minority equity interest in Al Fadhili Field House for Real Estate Development Company and joined the partnership led by MAWREF Logistics Solutions. The investment secures a stake in the Fadhili housing complex in Saudi Arabia's Eastern Province — a 760,000m2 workforce microcity that houses roughly 2,750 Saudi Aramco employees — and marks AIIP's first investment in the Kingdom as part of its GCC/MENA infrastructure strategy.
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October 15, 2025
- Buyer
- Artificial Intelligence Infrastructure Partnership (AIP), MGX, BlackRock's Global Infrastructure Partners (GIP)
- Target
- Aligned Data Centers
- Seller
- Private infrastructure funds managed by Macquarie Asset Management, Macquarie Asset Management co-invest partners
- Industry
- Infrastructure
- Location
- Texas, United States
- Type
- Buyout
The Artificial Intelligence Infrastructure Partnership (AIP), together with MGX and BlackRock’s Global Infrastructure Partners (GIP), will acquire 100% of Aligned Data Centers from private infrastructure funds managed by Macquarie Asset Management and co-invest partners. The consortium expects the transaction to fuel expansion of next-generation cloud and AI infrastructure, implying an enterprise value of approximately $40 billion, with closing expected in the first half of 2026 subject to approvals.
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- Buyer
- GreenArrow, Bear Electrical Solutions
- Target
- Earthbound Electric
- Industry
- Infrastructure
- Location
- California, United States
- Type
- Addon
GreenArrow, through its California subsidiary Bear Electrical Solutions, has acquired Earthbound Electric, a traffic-signal and streetlight contractor founded in Arroyo Grande, California. The deal expands GreenArrow's transportation electrical services footprint across California and adds local expertise in traffic signals, intelligent transportation systems and airport lighting to its platform.
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October 13, 2025
- Buyer
- Vortex Companies
- Target
- PrimeLine Products, Inc.
- Seller
- Andy Rothenberg / Rothenberg family (founders/owners of PrimeLine Products)
- Industry
- Infrastructure
- Location
- Florida, United States
- Type
- Buyout
Vortex Companies has acquired PrimeLine Products, Inc., a national provider of trenchless technologies, equipment, materials, and training for plumbing and utility contractors. The business will be integrated with Vortex's MaxLiner division to strengthen small-diameter pipeline rehabilitation capabilities; PrimeLine founder Andy Rothenberg will remain involved as an advisor while Mason Rothenberg becomes General Manager.
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- Buyer
- Thoma Bravo
- Target
- SDC Capital Partners
- Industry
- Infrastructure
- Location
- New York, United States
- Type
- Growth capital
Thoma Bravo has made a strategic minority investment in SDC Capital Partners, a global digital infrastructure investment firm focused on data centers, fiber, wireless and cloud-services infrastructure. The investment, funded from Thoma Bravo's balance sheet, is intended to support SDC's platform expansion as demand for AI, cloud computing and advanced technologies drives increased need for digital infrastructure.
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October 2, 2025
- Buyer
- Parsons Corporation
- Target
- Applied Sciences Consulting, Inc.
- Industry
- Infrastructure
- Location
- Florida, United States
- Type
- Buyout
Parsons Corporation has acquired Applied Sciences Consulting, Inc., a Tampa-based civil and environmental engineering firm specializing in water and stormwater solutions. The all-cash acquisition expands Parsons' water capabilities and strengthens its presence in Florida, with Applied Sciences integrated into Parsons' North America Infrastructure business unit.
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September 30, 2025
- Buyer
- Zachry Construction Corporation
- Target
- Crescent Constructors
- Seller
- Mike Daigre (founder of Crescent Constructors)
- Industry
- Infrastructure
- Location
- Texas, United States
- Type
- Addon
Zachry Construction Corporation has agreed to acquire Crescent Constructors, a water and wastewater infrastructure projects firm based in Plano, Texas. The deal is described as a bolt-on expansion to Zachry’s infrastructure services portfolio, aiming to strengthen its presence in the water sector while Crescent continues operating under its current name as a Zachry Construction affiliate.
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September 24, 2025
- Buyer
- Antin Infrastructure Partners, Aquavista Watersides & Marinas management team (including CEO Steve de Polo)
- Target
- Aquavista Watersides & Marinas
- Seller
- LDC
- Industry
- Infrastructure
- Location
- Nottingham, United Kingdom
- Type
- Buyout
Antin Infrastructure Partners has signed a binding agreement to acquire Aquavista Watersides & Marinas, the UK’s largest marina infrastructure provider. The transaction is expected to close in October 2025 and follows Aquavista’s growth under LDC over a seven-year partnership.
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September 24, 2025
- Buyer
- KKR (affiliates), Canada Pension Plan Investment Board (CPP Investments)
- Target
- Sempra Infrastructure Partners
- Seller
- Sempra
- Industry
- Infrastructure
- Location
- United States
- Type
- Divestiture
Sempra has agreed to sell a 45% equity stake in Sempra Infrastructure Partners to affiliates of KKR alongside CPP Investments, valuing the platform at an implied $22.2 billion equity value and $31.7 billion enterprise value. The deal is expected to close in the second or third quarter of 2026, subject to regulatory approvals, with proceeds paid in a phased schedule totaling $10 billion.
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September 17, 2025
- Buyer
- Qatar Investment Authority (QIA)
- Target
- Ivanhoe Mines
- Industry
- Infrastructure
- Location
- Canada
- Type
- Growth capital
Ivanhoe Mines will issue 57,516,666 common shares to Qatar Investment Authority (QIA) in a private placement at C$12.00 per share, raising gross proceeds of approximately US$500 million. QIA will own about 4% of Ivanhoe Mines following completion, with proceeds intended to support growth opportunities in critical-minerals exploration and development.
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September 9, 2025
- Buyer
- Shenandoah, GenNx360 Capital Partners
- Target
- Nu-Pipe LLC
- Industry
- Infrastructure
- Location
- United States
- Type
- Addon
Shenandoah, a GenNx360 Capital Partners portfolio company, has acquired Nu-Pipe LLC, a Southeast-based trenchless pipe rehabilitation contractor. Nu-Pipe founder and CEO Ashby Johnson will join Shenandoah as President of Solution Technologies, and the deal expands Shenandoah's CIPP, SAPL and grouting capabilities across the U.S.
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Frequently Asked Questions
What kinds of infrastructure assets are appearing in these transactions?
The recent deals cover data centers and carrier hotels, roadway construction and paving businesses, pavement‑marking and traffic‑safety services, rail‑maintenance machinery and specialist services, and technology‑enabled roadway platforms.
Who are the active buyers in infrastructure deals shown here?
Active buyers include strategic operators (for example Consor Engineers, Vossloh AG) and financial sponsors or infrastructure funds (examples in the listings include Bain Capital, TPG, La Caisse, Argo Infrastructure Partners, and other recurring buyers named on the page).
Where are these infrastructure transactions taking place?
Transactions documented here are geographically diverse: multiple U.S. states (Texas, North Carolina, Pennsylvania, Missouri, Georgia, District of Columbia), plus deals in Qatar, China and Sweden.
What are common strategic rationales for these acquisitions?
Common rationales in the listed deals include expanding local production or service footprints (e.g., paving plants, pavement‑marking operations), scaling data‑centre capacity and connectivity, adding specialist maintenance capabilities, and integrating digital or AI‑enabled technologies into transportation offerings.