Infrastructure Acquisitions in California

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.

GenNx360 Capital Partners’ portfolio company Shenandoah has acquired Pro-Pipe Services, LLC from National Underground Group. The add-on expands Shenandoah’s geographic footprint into the U.S. Southwest (branches in Phoenix, Tucson, Albuquerque, Dallas and Denver) and adds cross-bore inspection capabilities to its sanitary and stormwater pipe cleaning, inspection and rehabilitation services.

Vortex Companies, LLC acquired Sancon Technologies, Inc., a Huntington Beach, California-based provider of trenchless sewer and water structure rehabilitation. The acquisition expands Vortex’s West Coast presence and adds specialized equipment, technologies, and long-standing municipal customer relationships; financial terms were not disclosed.

Quanta Services, Inc. has completed its approximately $1.5 billion acquisition of Cupertino Electric, Inc., a San Jose–based electrical infrastructure solutions provider. The deal brings CEI’s low-voltage electrical platform, modular electrical manufacturing capabilities and renewable-energy construction experience into Quanta’s portfolio to expand service offerings and end-market exposure in data centers, technology and utility-scale renewables.

Private equity firm King Street Capital Management has acquired Santa Clara–based data center operator Colovore for an undisclosed sum. King Street plans to leverage its data center real estate platform to support Colovore's expansion of liquid-cooled, high-density colocation capacity for AI and HPC customers across additional Tier 1 U.S. markets.

A wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA) has completed the acquisition of a 40% stake in DigitalBridge portfolio company Landmark Dividend LLC alongside DigitalBridge-sponsored vehicles. The minority investment is a strategic partnership to support Landmark's continued expansion of its real estate and digital infrastructure platform across strategic locations in the United States.

Northleaf Capital Partners has agreed to acquire a controlling stake in EVPassport, committing $200 million to fund the company's capital requirements and accelerate build-out of Level 2 and Level 3 EV charging infrastructure across North America. EVPassport, headquartered in Los Angeles, provides an IaaS model for charging infrastructure combined with an open-API technology platform focused on multi-family, hospitality and retail site hosts.

Manulife Investment Management, on behalf of Manulife Infrastructure Fund II, completed the acquisition of a controlling interest in Serverfarm on September 1, 2023, with ongoing financial support from NantCapital (NANT). The investment will fund Serverfarm's global expansion of its data center portfolio and accelerate adoption and market reach of its InCommand DMaaS platform; Avner Papouchado will remain CEO and retain a significant ownership stake alongside NANT.

Wafra Inc. and Post Road Group announced a joint investment in Intermountain Infrastructure Group (IIG) to support accelerated deployment of IIG's long-haul, regional and metro fiber networks. The capital will enable network expansion — including a new long‑haul route in the Intermountain Region — and support IIG's dark fiber, lit services and colocation offerings for hyperscale, cloud, carrier and content customers.

Digital Colony Management, LLC has entered into a definitive agreement to acquire Landmark Dividend LLC, the sponsor that owns the general partner of Landmark Infrastructure Partners LP. Upon closing of the sponsor acquisition, Digital Colony said it intends to submit a proposal to the LMRK board to acquire substantially all of Landmark Infrastructure Partners LP, proposing $13.00 per common unit (valuing LMRK at ~ $972 million).

Serverfarm, together with long-term partner NantWorks, acquired the 117,500 sq. ft. LAX1 data center in El Segundo, California (previously operated by T5). The acquisition expands Serverfarm’s owned and managed portfolio in the Los Angeles market and enables modernization and sustainability upgrades using its InCommand DMaaS platform to serve hyperscale, healthcare, government and media tenants.

White Deer Energy has acquired Renewable Energy Infrastructure Group's electric vehicle infrastructure design-build business, EV Infrastructure. The company, headquartered in Costa Mesa, California, provides turnkey engineering and construction of Level 2 and Level 3 fast-charging stations primarily for commercial fleet, utility and municipal customers; financial terms were not disclosed.

RoadSafe Traffic Systems, the nation’s largest provider of traffic control and pavement marking services, has acquired A Cone Zone Inc., a Corona, California-based traffic management equipment and services provider focused on utility end markets. The deal expands RoadSafe’s California footprint and strengthens its utility service offering as part of its Western U.S. consolidation strategy; RoadSafe is a platform company owned by ORIX Capital Partners.