Tracked deals
300
300 tracked deals across 2014-2026.
Tracked deals
300
300 tracked deals across 2014-2026.
Buyer mix
PE-led
321 pe · 117 strategic
Top trend
Volume peaked in 2026
52 tracked deals announced in 2026.
Buyer Snapshot
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| 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 |
| Frontline Road Safety | 6 | National pavement marking and road safety platform operat... | Strategic (PE-backed) |
| 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 |
| Antin Infrastructure Partners | 4 | Independent private equity firm focused on infrastructure... | PE |
| Canada Pension Plan Investment Board (CPP Investments) | 4 | Canada’s pension investment manager investing globally ac... | PE |
| DigitalBridge Group, Inc. | 4 | Global alternative asset manager focused on investing in ... | PE |
Last 9 years
Supporting Data
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 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.
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.
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.
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.
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.
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.
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.
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.
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.
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 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.
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.
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.
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.
Canada Pension Plan Investment Board (CPP Investments) will invest US$1.75 billion (C$2.4 billion) alongside EQT to support the strategy to build AI-ready digital infrastructure. The investment is led by global data centre developer and operator EdgeConneX, which EQT acquired in 2020 and has since scaled rapidly.
Intrepid Fiber Networks entered into a definitive agreement to acquire Ubiquity’s Southern California fiber network in San Diego County. The in-service fiber-to-the-premises network covering Solana Beach, Encinitas, Carlsbad, and Oceanside will remain a wholesale open-access model under Intrepid, with Ubiquity’s Southern California operations and employees transitioning to Intrepid management.
EDF signed an agreement under which KKR will acquire the operations and assets of EDF Power Solutions in the United States and Canada. The deal values the business at approximately $4.2 billion, with potential additional earnout payments of up to $390 million, and is expected to close in the second half of 2026 subject to regulatory approvals.
Osprey Landscape Group, a commercial landscaping services platform backed by Southfield Capital, acquired LandGraphics, a Southern California provider of landscape maintenance, enhancements, water management, and arbor care. The transaction closed in June 2026 and represents Osprey’s first acquisition in California.
Argyle Capital Partners announced an investment in H&S Building Supplies Ltd., a Vaughan, Ontario-based distributor serving Canada’s purpose-built residential rental market. The partnership is intended to support H&S’s next phase of growth while preserving its customer-first culture and management continuity.
Voltera and Revel have entered into a definitive agreement to combine to build, own, and operate fast-charging networks purpose-built for autonomous vehicles, electric fleets, and ride-hail deployment in dense urban markets. The combined platform is expected to have more than 1,000 charging stalls operational and under development across 11 major U.S. metro areas, operating under the Voltera brand with Revel CEO Frank Reig leading post-closing. EQT will be the majority owner, while Global Infrastructure Partners (BlackRock) retains a minority stake as Revel’s existing lead sponsor.
I Squared Capital has entered into a definitive purchase and sale agreement to acquire a portfolio of ten U.S. data center facilities from Cogent Fiber, LLC, an indirect wholly owned subsidiary of Cogent Communications, for $225 million in cash. The acquisition is intended to seed a new U.S. data center operating platform focused on colocation, high-density deployments, and AI inference infrastructure, with I Squared committing up to $1 billion to build the platform.
Apollo announced its managed funds acquired a majority interest in Noble Environmental, a vertically integrated waste management company serving the Northeast, Mid-Atlantic, and Midwest United States. The investment is intended to support a platform spanning solid waste collection, hauling, transfer, disposal, and a growing renewable natural gas business that converts landfill gas into pipeline-quality fuel.
Arcus Infrastructure Partners entered into definitive documentation to acquire approximately a 74% majority stake in TrueNoord, with founding investor Freshstream agreeing to reinvest and retain the remaining 26%. The deal is intended to support TrueNoord’s next phase of growth in the regional aircraft leasing market, with closing expected in about two months.
I Squared Capital has agreed to acquire Elea Data Centers, a carrier-neutral, renewable-powered data center platform in Brazil. The investment is intended to support Elea’s expansion and accelerate large-scale, high-density AI infrastructure development, including the +3GW Rio AI City initiative.
Related Digital and funds affiliated with Blackstone, along with PIMCO-managed debt financing, announced financing has been secured for Related Digital’s $16 billion Oracle data center campus in Saline Township, Michigan. The campus is being developed for Oracle in support of its partnership with OpenAI to expand AI compute capacity.
Vertical Bridge REIT, LLC (a DigitalBridge portfolio company) announced it will receive a $1.5 billion equity investment from KKR. The investment is intended to establish a fully funded, long-term capital structure to support Vertical Bridge’s strategic plan, including organic development and selective mergers and acquisitions.
Rox Capital Partners sold The Scruggs Companies, a municipal water infrastructure platform, to The Sterling Group Foundation Fund. The deal includes Scruggs’ regional flow control products and repair/maintenance services supporting municipal water and wastewater systems across the Southern and Midwestern United States. Financial terms were not disclosed, and the existing leadership team is expected to remain in place under Sterling’s ownership.
Stonepeak has recapitalized Southern Marinas, taking majority control of North America’s largest marina operator in a deal valued at well over $1 billion. The firm acquired its stake from Gridiron Capital, while Southern Marinas’ founding management team led by CEO Brad Nelson retained a meaningful equity stake and continued day-to-day operations.
Stonepeak recapitalized Southern Marinas through a transaction in which affiliates of KSL Capital Partners sold their interests to Stonepeak. Southern Marinas is a U.S. marina owner and operator with a diversified portfolio of 16 marinas across eight states.
Crestline announced the close of an upsized $74.0 million position in its credit facility to Ironclad Environmental Solutions to finance the merger of Ironclad and Mersino Water Solutions. The combination creates IRONCLAD Powered by Mersino, a national water management and specialty liquid containment infrastructure platform, with both businesses previously held by Kinderhook Industries.
Abrams Capital Management, L.P. acquired an additional 160,000 common shares of SECURE Waste Infrastructure Corp. on the open market through the Toronto Stock Exchange. The purchases increased Abrams Capital’s ownership from about 9.93% to about 10% of SECURE’s outstanding shares and the firm announced it intends to vote against SECURE’s proposed arrangement with GFL Environmental Inc.
Quinbrook and Blackstone announced that funds affiliated with Blackstone have acquired a significant minority stake in Rowan Digital Infrastructure. The investment is intended to support Rowan’s continued expansion and capacity growth of sustainable, build-to-suit hyperscale data center campuses across the United States.
Z2 Capital Partners announced the closing of its investment in DCS Asset Maintenance (DCS AM), a provider of operations, maintenance, and management services for highways, bridges, and rest areas for DOTs and municipalities. The deal was structured as a first lien term loan intended to support growth and fund a distribution to DCS AM’s owners.
First Reserve completed a majority equity investment in Lindsey Systems, a family-owned provider of proprietary products and engineered solutions for electric grid transmission and distribution. The capital is intended to support Lindsey’s next phase of growth and accelerate its strategic plan to expand capabilities, innovation, and scale amid grid modernization demand.
Turnspire Capital Partners announced that an affiliate sold its portfolio company USG Water Solutions to Warren Equity Partners (WEP). USG is a provider of water asset management services for municipal and private customers across North America, with operations in all 48 contiguous states and more than 450 employees. Terms of the transaction were not disclosed.
ArcLight Capital Partners has signed a definitive agreement to acquire InfraBridge’s 50% stake in Invenergy AMPCI Thermal Power (IATP), a jointly owned, contracted power generation portfolio totaling approximately 5.4 GW across North America. Invenergy will retain its existing ownership interest and continue operating the portfolio. The transaction is subject to regulatory approvals and other closing conditions and is expected to close in the second half of 2026 (financial terms undisclosed).
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.
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.
Aspire Fiber (Aspire Broadband Holdings, Inc. dba Aspire Fiber) announced a majority investment from Arenova Capital to support its 10 Gbps fiber-to-the-home expansion in California. Arenova committed $50 million of equity capital, while Aspire’s CEO Stephen Weatherford and management remain meaningful shareholders.
SeaFort Capital has made a majority investment in Allmar Inc., a Canadian door and hardware solutions supplier serving commercial, industrial, institutional and residential markets. Allmar’s leadership will retain a significant equity stake, and Roynat Equity Partners invested alongside SeaFort as a co-investor.
Behrman Capital sold its portfolio company, Waterline Renewal Technologies, to Azuria Water Solutions, a New Mountain Capital portfolio company. Waterline provides engineered products for the trenchless rehabilitation of wastewater and stormwater infrastructure; financial terms were not disclosed.
Canada Pension Plan Investment Board (CPP Investments) and Equinix have entered into a joint agreement to acquire Nordic data center operator atNorth from Partners Group in a deal valued at about US$4 billion. CPP Investments will invest about US$1.6 billion for a 60% controlling stake while Equinix will hold about 40%, with the transaction subject to customary regulatory closing conditions.
Macquarie Asset Management, acting on behalf of a privately managed infrastructure fund, acquired the South American wireless tower operations of IHS Mauritius BR Limited, part of IHS Holding Limited (IHS Towers). The transaction includes more than 8,700 tower sites in Brazil and about 250 sites in Colombia and strengthens Macquarie’s long-term digital infrastructure portfolio in Latin America.
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.
KKR and Singtel, in a consortium led by funds managed by KKR and Singtel, signed definitive agreements to acquire the remaining 82% stake in STT GDC from founding shareholder ST Telemedia for S$6.6 billion. The transaction values STT GDC at an implied enterprise value of about S$13.8 billion (including leverage and committed projects), with completion expected in early second half of 2026 subject to approvals.
Transaction Network Services (TNS) has completed its acquisition of BT’s Radianz business, combining two financial connectivity providers to expand global access to trading venues, market data, applications, and counterparties. The Radianz business will operate as part of TNS’s global Financial Markets platform, ultimately forming the Waypoint Trading Solutions organization.
Novacap and H5 Data Centers formed HyscaleIX Data Centers, a connectivity-focused data center joint venture, and announced an acquisition of a portfolio of carrier hotels from 365 Data Centers. The JV’s initial anchored portfolio includes carrier-connected facilities in Buffalo (New York), Nashville (Tennessee), and Tampa (Florida), plus a fourth facility in the Midwestern U.S.
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.
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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