Top Infrastructure Acquirers (2014-2026)

Tracked deals

467

467 tracked deals across 2014-2026.

Buyer mix

Mixed buyer set

321 pe · 285 strategic

Top trend

Volume peaked in 2026

125 tracked deals announced in 2026.

Primary Insight

What Stands Out

  • Power-and-compute expansion is a recurring theme, including utility interconnect enablement (Vertiv) and AI compute hosting infrastructure (NVIDIA’s investment via SB Energy).
  • Telecom infrastructure investors continue to operate at scale, including La Caisse (CDPQ) and Brookfield’s acquisition of a 24% stake in Altius Telecom Infrastructure Trust.
  • Growth also targets “adjacent” infrastructure services: geospatial/utility engineering (SAM acquiring Wilson & Associates, P.C.) and water purification hardware (Integrated Water Services acquiring AESINC).
  • European data center platform building appears in the record, including CVC DIF’s majority-stake acquisition of firstcolo in Germany and Partners Group’s majority stake in AVK Power Solutions in the UK.
  • Waste and mobile power niches show up alongside heavier asset deals, such as Terramont Infrastructure Partners acquiring Hainesport Transportation Group and Firefly Capital Management acquiring Gravity Power & Rental.

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Buyer Snapshot

Top Buyers

Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.

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Buyer # Deals Focus Type
KKR 9 Global investment firm managing funds across private equi... PE
Macquarie Asset Management 8 Global infrastructure and asset manager focused on long‑t... PE
DigitalBridge Group, Inc. 6 Global alternative asset manager focused on investing in ... PE
Frontline Road Safety 6 National pavement marking and road safety platform operat... Strategic (PE-backed)
Canada Pension Plan Investment Board (CPP Investments) 5 Canada’s pension investment manager investing globally ac... PE
RoadSafe Traffic Systems, Inc. 5 Provider of infrastructure safety services and products, ... Strategic (PE-backed)
Stonepeak 5 Alternative investment firm specializing in infrastructur... PE
The Sterling Group 5 Middle-market private equity firm focused on manufacturin... PE
Tower Arch Capital 5 Middle-market private equity firm that partners with fami... PE
Aegion Corporation 4 Provider of infrastructure maintenance, rehabilitation an... Strategic (PE-backed)

Acquisition Volume in Infrastructure by Year

Last 9 years

Acquisition volume by year Annual acquisition counts for the last 9 years for Top Infrastructure Acquirers (2014-2026). 1 2018 12 2019 27 2020 51 2021 58 2022 48 2023 69 2024 75 2025 ~158 est. 125 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Hennessy Capital Investment Corp. VII to take ONE Nuclear Energy public via business combination
    October 23, 2026
    Buyer
    Hennessy Capital Investment Corp. VII
    Target
    ONE Nuclear Energy LLC
    Industry
    Infrastructure
    Location
    Nevada, United States
    Type
    Buyout

    Hennessy Capital Investment Corp. VII (a SPAC) and ONE Nuclear Energy LLC entered a proposed business combination that would result in ONE Nuclear becoming a U.S.-listed public company on Nasdaq under the ticker “ONEN.” The transaction was later approved by Hennessy VII shareholders and closed in September 2026, with Hennessy VII domestication as a Delaware corporation and ONE Nuclear becoming its wholly owned subsidiary.

  • Wafra Acquires an Interest in Liberty Development Partners
    October 11, 2026
    Buyer
    Wafra
    Target
    Liberty Development Partners
    Industry
    Infrastructure
    Location
    Texas, United States
    Type
    Growth capital

    Wafra acquired an interest in Liberty Development Partners and invested in its principal assets, Gulf Inland Logistics Park and CMC Railroad. The investment is intended to provide capital and institutional resources to expand the rail-served industrial infrastructure platform and pursue additional opportunities.

  • Ares Expands Investment in Sabey Data Center Properties
    October 8, 2026
    Buyer
    Ares Secondaries funds
    Target
    Sabey Data Center Properties
    Industry
    Infrastructure
    Location
    Washington, United States
    Type
    Growth capital

    Ares Secondaries funds expanded their investment in Sabey Data Center Properties, bringing Ares’ total commitment to the platform to more than $500 million. The additional capital will support the platform’s expansion of U.S. data center infrastructure to meet growing demand tied to cloud computing, AI, and other data-intensive applications.

  • Valtir Acquires QWICK KURB, Inc.
    October 6, 2026
    Buyer
    Valtir, LLC
    Target
    QWICK KURB, Inc.
    Industry
    Infrastructure
    Location
    Texas, United States
    Type
    Buyout

    Valtir has completed its acquisition of QWICK KURB, adding modular raised-curb channelization and lane-separation systems to its roadway safety product portfolio. The combined offering is designed to strengthen Valtir’s position as a provider of roadway safety solutions for both permanent and temporary applications.

  • Advanced Drainage Systems to Acquire StormTrap for $530 Million
    October 5, 2026
    Buyer
    Advanced Drainage Systems
    Target
    StormTrap Investments
    Seller
    PSP Capital
    Industry
    Infrastructure
    Location
    United States
    Type
    Buyout

    Advanced Drainage Systems (ADS) entered into a definitive agreement to acquire StormTrap Investments from PSP Capital for approximately $530 million (about $450 million net of expected tax benefits). The deal expands ADS’ stormwater management portfolio into large-volume, space-constrained stormwater storage and treatment systems, with expected closing in Q4 2026 subject to regulatory approvals.

  • Ampol to Acquire Evie Networks for $225 Million
    October 2, 2026
    Buyer
    Ampol, Ampol Energy
    Target
    Evie Networks
    Seller
    Trevor St Baker AO (principal Evie Networks shareholder)
    Industry
    Infrastructure
    Location
    Australia
    Type
    Buyout

    Ampol has agreed to acquire 100% of Australian electric vehicle charging company Evie Networks for $225 million through its wholly owned subsidiary Ampol Energy. The deal will expand Ampol’s public DC fast-charging network by adding more than 1,030 charging bays, with completion targeted for the first half of 2027 subject to regulatory approvals.

  • Cardinal Infrastructure Group acquires Allied Paving Contractors
    October 1, 2026
    Buyer
    Cardinal Infrastructure Group, Inc.
    Target
    Allied Paving Contractors
    Industry
    Infrastructure
    Location
    North Carolina, United States
    Type
    Buyout

    Cardinal Infrastructure Group, Inc. announced the closing of its acquisition of Allied Paving Contractors. The deal expands Cardinal’s self-performing paving and related infrastructure capabilities in the Atlanta / Northern Georgia market, with Allied generating about $100 million in standalone revenue.

  • CenterPoint Energy Completes Sale of Vectren Energy Delivery of Ohio to National Fuel Gas Company for $2.62 Billion
    October 1, 2026
    Buyer
    National Fuel Gas Company
    Target
    Vectren Energy Delivery of Ohio, LLC
    Seller
    CenterPoint Energy, Inc.
    Industry
    Infrastructure
    Location
    Ohio, United States
    Type
    Divestiture

    CenterPoint Energy completed the previously announced $2.62 billion sale of its Ohio natural gas Local Distribution Company business, Vectren Energy Delivery of Ohio, LLC. National Fuel Gas Company will assume responsibility for serving CenterPoint’s former Ohio natural gas customers.

  • Kenon, with Harrison Street Asset Management, to acquire 25% stake in Vicinity District Energy for ~$450 million
    September 30, 2026
    Buyer
    Kenon Holdings Ltd., Harrison Street Asset Management (funds managed by HSAM)
    Target
    Vicinity District Energy
    Seller
    Antin Infrastructure Partners (entity related to the current owner)
    Industry
    Infrastructure
    Location
    United States
    Type
    Growth capital

    Kenon Holdings has entered into an agreement to acquire a 25% equity interest in Vicinity District Energy for cash consideration of approximately $450 million as part of a broader transaction involving Vicinity’s sale. The deal is backed by committed non-recourse debt financing and is expected to close in Q2 2027, subject to customary conditions and approvals.

  • Select Water Solutions to Acquire Pilot Water Solutions for $700 Million (+ up to $15 Million Contingent)
    September 24, 2026
    Buyer
    Select Water Solutions, Inc.
    Target
    Pilot Water Solutions LLC
    Industry
    Infrastructure
    Location
    United States
    Type
    Buyout

    Select Water Solutions entered into a definitive agreement to acquire Pilot Water Solutions LLC for $700 million in an equity-and-cash deal, plus up to $15 million in additional contingent cash consideration. The transaction is expected to close in Q4 2026, pending regulatory approvals and customary closing conditions, and is intended to expand Select’s produced-water management and Delaware Basin water infrastructure network.

  • EYKON Sells Water Meter Business to Sensus International
    September 22, 2026
    Buyer
    Sensus International
    Target
    EYKON water meter business
    Seller
    EYKON
    Industry
    Infrastructure
    Location
    Switzerland
    Type
    Divestiture

    EYKON and Sensus International (both part of the AURELIUS Midmarket portfolio) signed an agreement under which EYKON will sell its water meter business to Sensus International. The transaction is intended to let EYKON focus on its core utility measurement, connectivity, and digital utilities areas while the water metering business continues under Sensus International.

  • Falcon Gases Acquires Encore Gas & Supply
    September 22, 2026
    Buyer
    Falcon Gases
    Target
    Encore Gas & Supply
    Industry
    Infrastructure
    Location
    California, United States
    Type
    Addon

    Falcon Gases acquired Encore Gas & Supply as its initial investment. Encore operates multiple southern California locations supplying packaged gases, microbulk, welding supplies, and technical services.

  • Falcon Gases Receives Strategic Majority Investment from Odyssey Investment Partners
    September 22, 2026
    Buyer
    Odyssey Investment Partners, Falcon Gases
    Target
    Falcon Gases
    Industry
    Infrastructure
    Location
    California, United States
    Type
    Growth capital

    Falcon Gases announced it secured a strategic majority investment from Odyssey Investment Partners. The investment is intended to accelerate Falcon’s strategy to build a high-growth, large-scale independent packaged gas distribution platform through growth and M&A.

  • Vortex Companies Acquires CLH & Son, Inc.
    September 15, 2026
    Buyer
    Vortex Companies
    Target
    CLH & Son, Inc.
    Industry
    Infrastructure
    Location
    Maine, United States
    Type
    Buyout

    Vortex Companies acquired CLH & Son, Inc., an Auburn, Maine-based infrastructure contractor focused on sliplining, concrete rehabilitation, excavation, drainage improvements, and related utility services. The deal is intended to strengthen Vortex’s Northeast operations and expand the range and scale of rehabilitation projects Vortex can self-perform and deliver across the region.

  • Brookfield to Acquire Minority Interest in American Real Estate Partners (AREP)
    September 14, 2026
    Buyer
    Brookfield Asset Management Ltd.
    Target
    American Real Estate Partners (AREP)
    Industry
    Infrastructure
    Location
    Virginia, United States
    Type
    Growth capital

    American Real Estate Partners (AREP) and Brookfield Asset Management announced that affiliates of Brookfield have agreed to acquire a minority interest in AREP for an undisclosed amount. The investment pairs AREP’s vertically integrated data center development platform with Brookfield’s global real estate and infrastructure scale and capabilities.

  • Revolve Renewable Power to Acquire Horseshoe Bend Wind Project (9.6 MW) in Montana
    September 11, 2026
    Buyer
    Revolve Renewable Power Corp., Export Development Canada (EDC), Vancity Capital Corporation (Vancity), Whitfield Power Solutions, LLC (Whitfield)
    Target
    Horseshoe Bend Wind Project (9.6 MW)
    Industry
    Infrastructure
    Location
    Montana, United States
    Type
    Buyout

    Revolve Renewable Power Corp. signed definitive agreements to acquire 100% of the equity interests in the 9.6 MW Horseshoe Bend Wind Project in Montana for total consideration of US$10.48 million. The acquisition is expected to be funded through project-level debt financing from Export Development Canada (EDC) and Vancity Capital Corporation (Vancity), alongside proceeds from Revolve’s previously announced bridge credit facility with Whitfield.

  • Enbridge to Acquire Tallgrass’ Crude Oil Transportation Business (Pony Express and Powder River Gateway)
    September 9, 2026
    Buyer
    Enbridge Inc.
    Target
    Tallgrass Energy, LP (crude oil transportation, gathering, storage and terminaling business), Pony Express Pipeline (acquired 75% interest), Powder River Gateway system (acquired 51% interest), Stanchion Energy (crude marketing business)
    Seller
    Wholly-owned subsidiaries of Tallgrass Energy, LP
    Industry
    Infrastructure
    Location
    United States
    Type
    Buyout

    Enbridge announced it has entered into a definitive agreement to acquire Tallgrass Energy’s crude oil transportation, gathering, storage, and terminaling business for $2.55 billion in cash. The assets include 75% of the Pony Express Pipeline and 51% of the Powder River Gateway system, plus associated storage and Stanchion Energy crude marketing activities.

  • Franklin Templeton (via Clarion Partners) to Acquire Majority Stake in Stoneshield Capital
    September 8, 2026
    Buyer
    Franklin Templeton, Inc., Clarion Partners, LLC
    Target
    Stoneshield Capital
    Industry
    Infrastructure
    Location
    Luxembourg
    Type
    Buyout

    Franklin Templeton, through its real estate subsidiary Clarion Partners, has entered into a definitive agreement to acquire a majority stake in European real assets manager Stoneshield Capital. The deal is expected to close in Q4 2026 and will expand Clarion’s European real assets platform and increase its European AUM to $13 billion.

  • Vertiv to Acquire UtilityInnovation Group for $1.45 Billion Plus Up to $1.15 Billion Earnout
    September 4, 2026
    Buyer
    Vertiv
    Target
    UtilityInnovation Group (Utility Innovation Holdings)
    Industry
    Infrastructure
    Location
    North Carolina, United States
    Type
    Buyout

    Vertiv has agreed to acquire UtilityInnovation Group (operated as UtilityInnovation Group / Utility Innovation Holdings) for approximately $1.45 billion in cash at closing, with the potential for an additional $1.15 billion in cash tied to EBITDA targets. The combined offering is intended to extend Vertiv’s data center power capabilities upstream toward the utility interconnect using microgrid controls, onsite generation, energy-storage orchestration, and behind-the-meter power architecture.

  • KKR-Singtel consortium completes acquisition of STT GDC (STTGDC)
    September 1, 2026
    Buyer
    KKR, Singtel Group
    Target
    ST Telemedia Global Data Centres (STT GDC)
    Industry
    Infrastructure
    Location
    Singapore
    Type
    Buyout

    STTGDC announced completion of its acquisition by a consortium led by KKR and Singtel, strengthening the company’s ability to scale AI-ready digital infrastructure. The company retained its leadership team and name while launching a refreshed global brand built around the "Built Ready" positioning.

  • SAM Acquires Wilson & Associates to Expand Southeast Geospatial Presence
    August 31, 2026
    Buyer
    SAM
    Target
    Wilson & Associates, P.C.
    Seller
    Joey C. Wilson II
    Industry
    Infrastructure
    Location
    Tennessee, United States
    Type
    Buyout

    SAM, a provider of geospatial and inspection services for critical infrastructure markets, announced it acquired Wilson & Associates, a geomatics and utility engineering firm based in Franklin, Tennessee. The acquisition expands SAM’s surveying, geospatial, and utility engineering capabilities and strengthens its presence across Tennessee and the broader Southeast.

  • Hecate Energy LLC to Combine With EGH Acquisition Corp for Nasdaq Listing (Ticker HCTE)
    August 28, 2026
    Buyer
    Hecate Energy LLC, EGH Acquisition Corp.
    Target
    Hecate Energy LLC
    Industry
    Infrastructure
    Location
    Illinois, United States
    Type
    Buyout

    Hecate Energy LLC and EGH Acquisition Corp. confirmed progress on a previously announced definitive business combination that will result in Hecate becoming a publicly listed company on Nasdaq under the ticker "HCTE." The parties updated the expected closing timeline to early Q1 2027 following the resolution of matters involving Hecate’s lenders and related litigation.

  • Enbridge Forms JV with KKR and Apollo to Fund Westcoast Pipeline Expansions
    August 28, 2026
    Buyer
    Enbridge Inc., KKR, Apollo
    Target
    Aspen Point expansion programme (Westcoast natural gas pipeline system), Sunrise expansion programme (Westcoast natural gas pipeline system), Westcoast natural gas pipeline system (Aspen Point and Sunrise projects)
    Industry
    Infrastructure
    Location
    British Columbia, Canada
    Type
    Growth capital

    Enbridge agreed to form a C$2.7 billion joint venture with capital managed by KKR and Apollo to fund its Aspen Point and Sunrise expansion programs on the Westcoast natural gas pipeline system in British Columbia. Enbridge retains majority ownership and operational control, receiving C$700 million in cash at closing, while KKR and Apollo obtain an indirect cumulative 29% interest in the aggregate system once Sunrise enters service.

  • Volato Group Merges With Alignment Engine in $500 Million AI Infrastructure Deal
    August 27, 2026
    Buyer
    Volato Group, Inc.
    Target
    Alignment Engine, Inc.
    Industry
    Infrastructure
    Location
    Ohio, United States
    Type
    Buyout

    Volato Group entered into and subsequently completed a definitive merger with Alignment Engine in a transaction valued at approximately $500 million. The deal positions Volato as an AI infrastructure and data center platform player, centered on Alignment Engine’s Ohio powered industrial campus and a planned path to up to 480 MW of capacity.

  • Enbridge Agrees to Acquire Salt Creek Midstream Crude Oil Gathering Assets for $600 Million
    August 26, 2026
    Buyer
    Enbridge Inc.
    Target
    Salt Creek Midstream's crude oil gathering business, Orla gathering system, Wink North gathering system, Delaware Crossing (DCX) system
    Seller
    Salt Creek Midstream
    Industry
    Infrastructure
    Location
    Alberta, Canada
    Type
    Buyout

    Enbridge has signed a definitive agreement to acquire Salt Creek Midstream’s crude oil gathering business for US$600 million in cash. Through a wholly owned subsidiary, Enbridge will acquire 100% of the Orla and Wink North gathering systems and a 50% interest in the Delaware Crossing (DCX) system, with expected closing later in 2026 subject to customary conditions including Hart-Scott-Rodino clearance.

  • OceanaGold to Acquire Ausgold for $549 Million, Adding the Katanning Gold Project
    August 21, 2026
    Buyer
    OceanaGold Corporation
    Target
    Ausgold Limited
    Industry
    Infrastructure
    Location
    Western Australia, Australia
    Type
    Buyout

    OceanaGold has entered into a definitive scheme implementation deed to acquire 100% of Ausgold Limited via an Australian court-approved scheme of arrangement. Under the deal, Ausgold shareholders will receive 0.03365 OceanaGold shares per Ausgold share (with a cash alternative), valuing the equity at approximately A$776 million (US$549 million).

  • Goldman Sachs Agrees to Acquire LCN Capital Partners
    August 18, 2026
    Buyer
    The Goldman Sachs Group, Inc.
    Target
    LCN Capital Partners
    Industry
    Infrastructure
    Location
    United States
    Type
    Buyout

    Goldman Sachs has entered into an agreement to acquire LCN Capital Partners, a triple net lease (NNN) investment manager with about $3 billion in assets under supervision. The deal is valued at up to approximately $410 million (including upfront and deferred/contingent consideration) and is expected to close by the end of 2026, subject to approvals and customary conditions.

  • NVIDIA Invests in SB Energy to Exclusively Host NVIDIA AI Compute at PORTS-Pike Technology Campus
    August 17, 2026
    Buyer
    NVIDIA, SoftBank Group, OpenAI
    Target
    SB Energy
    Industry
    Infrastructure
    Location
    Ohio, United States
    Type
    Growth capital

    NVIDIA secured land, power, and shell capacity through a partnership with SB Energy at the PORTS-Pike Technology Campus in Pike County, Ohio, to exclusively host NVIDIA AI compute. SB Energy will build, own, and operate the data center under a 20-year lease to OpenAI, while NVIDIA also invests $1.5 billion in SB Energy to support its AI infrastructure growth.

  • CVC DIF Acquires Majority Stake in firstcolo to Develop AI-Ready Data Centers in Germany
    August 14, 2026
    Buyer
    CVC DIF (CVC DIF Value Add IV)
    Target
    firstcolo GmbH
    Seller
    CUBE Infrastructure
    Industry
    Infrastructure
    Location
    Germany
    Type
    Buyout

    CVC DIF, the infrastructure investment business of CVC, has agreed to acquire a significant majority stake in firstcolo GmbH from CUBE Infrastructure. The investment, via CVC DIF Value Add IV, is intended to support firstcolo’s scalable, AI-ready and energy-efficient data center platform in Germany, with FRA7 in Rosbach vor der Höhe as the initial greenfield project.

  • Core Scientific Completes Acquisition of Polaris DS LLC
    August 14, 2026
    Buyer
    Core Scientific, Inc.
    Target
    Polaris DS LLC
    Industry
    Infrastructure
    Location
    Oklahoma, United States
    Type
    Buyout

    Core Scientific, Inc. has completed its previously announced acquisition of Polaris DS LLC for approximately $444 million in cash. The purchase secures about 440 MW of in-service gross, grid-connected power capacity and supports Core Scientific’s plan to scale its Muskogee campus to approximately 1.5 GW of gross power.

  • Partners Group Invests $1B+ and Acquires Majority Stake in AVK Power Solutions
    August 14, 2026
    Buyer
    Partners Group
    Target
    AVK Power Solutions
    Seller
    AVK management team
    Industry
    Infrastructure
    Location
    Berkshire, United Kingdom
    Type
    Buyout

    Partners Group has agreed to acquire a majority stake in AVK Power Solutions and initially invest more than $1 billion of equity to scale the company’s power infrastructure platform for European data centers and AI computing facilities. The deal includes supplemental debt financing, with AVK management retaining a minority ownership stake.

  • Mobix Labs to Acquire Special Project Delivery
    August 13, 2026
    Buyer
    Mobix Labs, Inc.
    Target
    Special Project Delivery
    Industry
    Infrastructure
    Type
    Buyout

    Mobix Labs signed a definitive agreement to acquire Special Project Delivery, expanding its national security platform into rare earth elements, critical minerals, energy and strategic U.S. infrastructure. The announcement positions the acquisition as a step toward broader participation in defense and advanced-technology supply chains.

  • ONE Nuclear Acquires Amino Sustainability Group
    August 11, 2026
    Buyer
    ONE Nuclear Energy LLC
    Target
    Amino Sustainability Group
    Industry
    Infrastructure
    Location
    United States
    Type
    Buyout

    ONE Nuclear Energy LLC (ONE Nuclear) acquired Amino Sustainability Group, a specialized energy and digital infrastructure development advisory firm. The companies did not disclose deal terms, and Amino’s founder and managing partner, Christopher Hansmeyer, was appointed ONE Nuclear’s Chief Development Officer.

  • Terramont Infrastructure Partners Acquires Majority Interest in Hainesport Transportation Group
    August 5, 2026
    Buyer
    Terramont Infrastructure Partners
    Target
    Hainesport Transportation Group
    Industry
    Infrastructure
    Location
    New Jersey, United States
    Type
    Buyout

    Terramont Infrastructure Partners acquired a majority interest in Hainesport Transportation Group (HTG), a vertically integrated waste collection, transfer, processing, and disposal provider with rail-served infrastructure. The deal aims to scale HTG’s short-line rail and transfer station network to expand operational coverage and add rail-served capacity. Debt financing was provided by Fifth Third Bank.

  • Firefly Capital Management Acquires Gravity Power & Rental
    August 4, 2026
    Buyer
    Firefly Capital Management
    Target
    Gravity Power & Rental
    Seller
    Sellers (not specified)
    Industry
    Infrastructure
    Location
    Texas, United States
    Type
    Buyout

    Firefly Capital Management and its affiliates acquired Gravity Power & Rental, a Houston-based provider of mobile power generation and equipment rental infrastructure. The deal creates a national “power as a service” onsite power platform to address growing US demand driven by AI, electrification, and digital infrastructure growth.

  • Genergy Acquires Utility Research Associates (URA)
    August 4, 2026
    Buyer
    Genergy, Tarte Family Office
    Target
    Utility Research Associates (URA)
    Seller
    Dick Simon
    Industry
    Infrastructure
    Location
    United States
    Type
    Buyout

    Genergy announced the acquisition of Utility Research Associates (URA), a Northeast provider of utility billing, utility data management, and sub-metering services for commercial real estate owners. The deal expands Genergy’s utility data and infrastructure management platform and gives URA customers access to Genergy’s UM2.0 Utility & Infrastructure Intelligence Platform.

  • Xylem Subsidiary Acquires WaterFleet for About $200 Million
    July 29, 2026
    Buyer
    Xylem Inc.
    Target
    WaterFleet, LLC
    Seller
    Investment funds managed by EagleTree Capital and its co-investors
    Industry
    Infrastructure
    Location
    Texas, United States
    Type
    Buyout

    Xylem (through a subsidiary) has signed a definitive agreement to acquire WaterFleet from investment funds managed by EagleTree Capital and its co-investors for approximately $200 million. WaterFleet provides mobile water and wastewater utility services and workforce relief solutions for remote and infrastructure-critical sites.

  • NorthWestern Energy and Black Hills Announce Merger of Equals to Create Bright Horizon Energy
    July 29, 2026
    Buyer
    NorthWestern Energy Group, Inc. d/b/a NorthWestern Energy, Black Hills Corporation
    Target
    NorthWestern Energy Group, Inc. d/b/a NorthWestern Energy, Black Hills Corporation
    Industry
    Infrastructure
    Location
    United States
    Type
    Buyout

    NorthWestern Energy Group and Black Hills Corporation entered into an all-stock merger agreement that combines the two electric utility operators into an equal partnership. Shareholders approved the merger and multiple regulators (FERC, Nebraska, and South Dakota public utility commissions) have already approved it; Montana regulatory approval remains and the companies expect closing by year-end 2026.

  • Rio2 Limited Participates in Royal Road Minerals’ Brokered Life Offering
    July 28, 2026
    Buyer
    Rio2 Limited
    Target
    Royal Road Minerals Limited
    Industry
    Infrastructure
    Location
    Jersey
    Type
    Growth capital

    Rio2 Limited participated in Royal Road Minerals Limited’s brokered “LIFE” equity offering, purchasing 10,000,000 ordinary shares at $0.20 per share for total proceeds of $2.0 million. The offering closed July 28, 2026, increasing Rio2’s beneficial ownership in Royal Road to 54,021,667 shares (approximately 16.33%).

  • Morgan Stanley Infrastructure Partners To Acquire Epic Energy
    July 27, 2026
    Buyer
    Morgan Stanley Investment Management (through funds managed by Morgan Stanley Infrastructure Partners)
    Target
    Epic Energy
    Industry
    Infrastructure
    Location
    South Australia, Australia
    Type
    Buyout

    Morgan Stanley Investment Management, through funds managed by Morgan Stanley Infrastructure Partners, has agreed to acquire Epic Energy, an Australian gas pipeline operator. The deal is expected to close in the second half of 2026, subject to regulatory approvals, and financial terms were not disclosed.

  • KKR and Energy Capital Partners Consortium Agrees to Acquire DCC Energy
    July 27, 2026
    Buyer
    KKR, Energy Capital Partners
    Target
    DCC Energy
    Industry
    Infrastructure
    Location
    Ireland
    Type
    Buyout

    DCC Energy has agreed to a recommended £5.75 billion (about $7.7 billion) all-cash acquisition by a consortium led by KKR and Energy Capital Partners, which would take the company private. The deal values DCC shareholders at 6,525 pence per share in cash plus a previously declared final dividend, with potential upside tied to the sale of DCC’s Nexora technology business. The transaction is subject to shareholder approval and regulatory clearances.

  • Iberdrola to Acquire 80% of Caruna in €5 Billion Deal
    July 23, 2026
    Buyer
    Iberdrola
    Target
    Caruna
    Industry
    Infrastructure
    Location
    Finland
    Type
    Buyout

    Iberdrola has agreed to acquire an 80% equity stake in Caruna, Finland’s largest electricity distribution company, in a transaction valuing 100% of Caruna at approximately €5 billion (including financial debt). Nordic pension funds AMF and Elo will retain their existing combined 20% interest. The deal is expected to close in the first quarter of 2027, subject to regulatory approvals.

  • Brookfield to Acquire Aypa Power from Blackstone Energy Transition Partners
    July 23, 2026
    Buyer
    Brookfield Asset Management
    Target
    Aypa Power
    Seller
    Funds managed by Blackstone Energy Transition Partners
    Industry
    Infrastructure
    Location
    Texas, United States
    Type
    Buyout

    Brookfield entered into an agreement to acquire Aypa Power, a leading North American battery energy storage platform, from funds managed by Blackstone Energy Transition Partners for approximately $7 billion enterprise value at closing (equity value of about $3 billion). The deal includes Aypa’s operating, under-construction and contracted project portfolio, its development platform, and roughly 200 employees.

  • Prologis Makes Best and Final Partial Cash Offer for SEGRO
    July 22, 2026
    Buyer
    Prologis, Inc.
    Target
    SEGRO plc
    Industry
    Infrastructure
    Location
    United Kingdom
    Type
    Buyout

    Prologis announced its best and final proposal to acquire the entire issued and to be issued share capital of SEGRO plc, combining newly issued Prologis shares with a partial cash alternative. The offer is structured as 0.0920 new Prologis shares for each SEGRO share plus up to £3.5 billion of optional cash (25% of consideration), subject to pro-rata scale-back.

  • Tactical Resources Business Combination with Plum Acquisition Corp. III (Exchange Ratio Announced)
    July 22, 2026
    Buyer
    Plum Acquisition Corp. III
    Target
    Tactical Resources Corp.
    Industry
    Infrastructure
    Location
    British Columbia, Canada
    Type
    Buyout

    Tactical Resources Corp. announced the exchange ratio under its previously announced business combination with Plum Acquisition Corp. III. Following amalgamation transactions, Tactical will continue as a wholly owned subsidiary of a new parent entity (“New PubCo”), renamed Tactical Resources Corp., with the deal expected to close on July 28, 2026 and New PubCo shares expected to trade on Nasdaq.

  • Barrick Mining Agrees to Invest in Kingfisher Metals via C$20.9M Private Placement
    July 21, 2026
    Buyer
    Barrick Mining Corporation
    Target
    Kingfisher Metals Corp.
    Industry
    Infrastructure
    Location
    British Columbia, Canada
    Type
    Growth capital

    Barrick Mining Corporation agreed to subscribe for 15,470,934 units of Kingfisher Metals Corp. in a non-brokered private placement for total consideration of approximately C$20.9 million. The investment is expected to close on or before July 27, 2026 and will fund exploration and development of Kingfisher’s Highway 37 project in British Columbia.

  • Brookfield and CPP Investments to Acquire LXP Industrial Trust in $5.2B All-Cash Deal
    July 20, 2026
    Buyer
    Brookfield Asset Management, Canada Pension Plan Investment Board (CPP Investments)
    Target
    LXP Industrial Trust
    Industry
    Infrastructure
    Location
    Florida, United States
    Type
    Buyout

    Brookfield Asset Management and Canada Pension Plan Investment Board (CPP Investments) have entered into a definitive merger agreement to acquire LXP Industrial Trust in an all-cash transaction valued at approximately $5.2 billion, including net debt and preferred equity. LXP shareholders will receive $61.20 per share in cash, and the deal is expected to close in the fourth quarter of 2026, subject to customary approvals and conditions.

  • ePointZero Completes Acquisition of Traverse Midstream Partners for USD 2.25 Billion
    July 14, 2026
    Buyer
    ePointZero, 2PointZero Group, The Energy & Minerals Group (EMG)
    Target
    Traverse Midstream Partners, LLC
    Seller
    The Energy & Minerals Group (EMG)
    Industry
    Infrastructure
    Location
    Oklahoma, United States
    Type
    Buyout

    ePointZero, a subsidiary of 2PointZero Group, completed an all-cash USD 2.25 billion acquisition of Traverse Midstream Partners, LLC. The deal gives ePointZero minority, non-operated interests in two U.S. midstream assets: a 35% stake in the Rover Pipeline and a 25% stake in the Ohio River System, both operated by Energy Transfer.

  • CleanCore Solutions Closes First AI Data Center Project With HST Technologies (200 MW West Texas Campus)
    July 9, 2026
    Buyer
    CleanCore Solutions, Inc., HST Technologies, Inc.
    Target
    200-megawatt West Texas data center campus (AI infrastructure project)
    Industry
    Infrastructure
    Location
    United States
    Type
    Addon

    CleanCore Solutions has closed its first AI infrastructure data center project in West Texas in partnership with HST Technologies. Under the transaction, CleanCore will own more than 95% of the planned campus and commit to funding the initial 200 MW development through 2029, with potential expansion beyond 500 MW by 2030.

  • AirLife Gases Acquires Controlling Stake in GNG to Build Integrated Helium Supply Chain
    July 8, 2026
    Buyer
    AirLife Gases Private Limited
    Target
    GNG
    Industry
    Infrastructure
    Location
    Utah, United States
    Type
    Buyout

    AirLife Gases Private Limited signed a definitive agreement to acquire a controlling stake in GNG, a U.S.-based helium gathering, processing, and liquefaction infrastructure company. The deal is intended to integrate upstream-to-end-customer helium capabilities and includes GNG’s Lisbon Valley Gas Processing Complex in Utah, which is expected to undergo recommissioning before returning to commercial production.

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Frequently Asked Questions

What infrastructure subsectors show up most often in these acquisitions?

Power and data-center enablement, telecom infrastructure (e.g., tower platforms), and infrastructure-adjacent services like geospatial/utility engineering and water purification systems appear in the listed deals.

Which geographies are covered by recent infrastructure transactions?

Recent locations include the United States (multiple states), India (Maharashtra), Germany, Australia (Western Australia), the United Kingdom (Berkshire), and others shown in the page’s recent events list.

Are the deals focused only on large infrastructure asset owners?

No. The list includes both infrastructure owners/operators (e.g., power, telecom, data centers) and service or capability providers (e.g., geospatial/utility engineering and reverse osmosis water systems).

Do all transactions disclose deal terms?

No. Some transactions specify values and/or structure (e.g., cash at closing, earnouts, or equity exchange terms), while others note that deal terms were not disclosed.

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