Infrastructure Acquisitions in Indiana

Helix Traffic Solutions, majority-owned by Nonantum Capital Partners, has acquired Highway Safety Services of Lafayette, Indiana. The add-on expands Helix's footprint in Indiana's traffic safety market (traffic control, pavement marking, flagging and equipment sales/rentals); transaction terms were not disclosed.

CST Utilities, a portfolio company of MFG Partners, has acquired Noblesville, Indiana-based Daystar Directional Drilling effective July 15, 2025. The deal expands CST's Midwest footprint and service offerings in underground utility drilling; Daystar's founder Jerry Watson III will remain leading the Indiana operation and retain an ownership stake.

Urbint has acquired Competers, the operator of the Utilocate ticket and locate management platform, making Competers a wholly owned subsidiary. The deal expands Urbint’s damage-prevention capabilities and customer base across utilities, telecoms, oil & gas and contract locate companies by adding ticket/locate management and direct service to contract locators.

MidOcean Partners has made a preferred equity, non-control growth capital investment in GridHawk Holdings to support the company’s geographic expansion and service offering growth. The investment, made in partnership with independent sponsor Cascata Capital, includes senior debt financing provided by BMO and was advised by Solomon Partners.

Netrality Data Centers acquired Lifeline Data Centers' 733 West Henry colocation facility on the Indy Telcom campus in Indianapolis. The 30,000 sq ft facility will continue to offer colocation while Netrality expands interconnection services to link the site with its 701 West Henry meet-me room and broader Indianapolis campus ecosystem.

Kohlberg & Company is acquiring a 50% stake in United States Infrastructure Corporation (USIC) while Partners Group will retain a 50% co-lead interest; funds managed by Neuberger Berman also joined the investment. The transaction values USIC at an enterprise value of USD 4.1 billion — USIC is a leading provider of utility locate services headquartered in Indianapolis with ~9,000 technicians performing roughly 80 million locates per year. The investors plan to support further growth through investments in sales and digital capabilities to capture demand driven by infrastructure stimulus and 5G densification.

Thayer Infrastructure Services, LLC (TIS) completed the acquisition of Heartland Solutions Corp., a wireless communications construction firm headquartered in Indianapolis, Indiana. Heartland will operate under TIS's American Cell Enterprises operating company as an add-on to expand TIS's wireless and tower services; terms were not disclosed.