Industrials & Manufacturing M&A deals

Vertiv completed its acquisition of UtilityInnovation Group, a microgrid and behind-the-meter power specialist for data centers, for about $1.45 billion in upfront cash plus up to $1.15 billion in earnouts tied to EBITDA targets. The price is about 13x expected 2027 EBITDA.

Acuity agreed to buy building controls company Parameter Technologies for $675 million, folding it into Distech Controls.

Truelink Capital agreed to acquire Johnson Controls' global intrusion products business, home to DSC, Qolsys and Visonic; terms weren't disclosed.

Right Lane Industries completed its acquisition of Capacity Trucks and LayMor from Terex; terms weren't disclosed.

Distribution Solutions Group completed its acquisition of GradeEight Holdings, the MRO distributor behind Winzer and FastServ Supply.

Bertram Capital bought industrial distributor Motion & Control Enterprises from Frontenac; terms weren't disclosed.

UFP Industries acquired the operating assets of Texas pallet manufacturer Apache Products for about $27 million.

UK construction group Reds10 acquired a majority stake in Louisville-based modular housing manufacturer MMY US.

AIM Processing, an MCM Capital Partners platform, acquired Wisconsin plastic injection molder Retlaw Industries.

Nordson Corporation has acquired Contrinex, a global technology leader in high-performance sensors for factory automation. The deal adds technology for harsh-environment and miniature precision-positioning applications and brings in nearly 500 employees. Financial terms were not disclosed in the announcement.

Energy Services of America completed its acquisition of substantially all operating assets of FAMCO, a West Virginia water and sewer utility contractor, for a $6.95 million base price.

Lindsay Corporation, the Omaha-based irrigation and infrastructure technology company, has agreed to acquire Setorial Irrigação, a leading Brazilian manufacturer of hose reel irrigation systems. Closing is subject to customary conditions and expected in the coming months. Terms were not disclosed.

An affiliate of H.I.G. Capital, which manages $75 billion, has acquired a majority stake in L4A, a Bergamo-based platform maintaining and upgrading airport airside, water and district heating infrastructure through subsidiaries Artifoni, LSE and MPM. Existing shareholders and co-CEOs remain invested and will keep running the company. Terms were not disclosed.

Winnipeg-based Exchange Income Corporation has completed its acquisition of TerraPro.

Alliant Power acquired the Denver operation of engine machine shop Family Machine LLC to expand its Capital Reman Exchange remanufacturing capacity.

KKR agreed to acquire the Explosion Protection and Static Control segments of Swiss diversified technology group HOERBIGER. The carve-out covers IEP Technologies and Newson Gale, two industrial safety solutions providers that make up the majority of HOERBIGER's Safety Business Unit. Financial terms were not disclosed.

An H.I.G. Capital affiliate acquired a majority stake in L4A, an Italian infrastructure maintenance and upgrading platform, partnering with existing shareholders and co-CEOs.

Falfurrias Management Partners has made growth investments in control systems integrator Industrial Design Solutions and OT engineering services provider RED Group, combining them as the foundation of a new industrial automation platform. RED Group CEO Carl Fangue will lead the combined business, which serves data centers, utilities, water, energy, maritime, chemicals and manufacturing. Terms were not disclosed.

Trane Technologies agreed to acquire Cancoil Thermal Corporation, an Ontario-based manufacturer of heat-transfer products.

Platinum Equity agreed to acquire a majority stake in Trime, an Italian maker of mobile lighting towers, generators and security towers.

Tide Rock acquired Electro-Spec, a specialty plating and surface finishing company in Indiana and South Carolina.

Summit Park-backed StableDry Services recapitalized North Carolina foundation repair provider Wolfe Construction Group.

The Partner Companies acquired Temecula, California precision machining firm Advanced CNC Industries.

Southern Paving & Milling acquired Carolina Site, a commercial paving provider in the Carolinas.

Funds managed by Morgan Stanley Capital Partners acquired The Rapid Group, a provider of inspection, repair and maintenance services for rotating equipment.

Brightstar Capital Partners acquired a majority interest in Material Handling Group USA, a material handling equipment and services provider; terms were undisclosed.

Construction Partners acquired S.E. Cline Construction, a Palm Coast, Florida site development and underground utility contractor with about 60 employees.

Kian Capital partnered with commercial door distributor Allen Supply, which then completed the add-on acquisition of TAP Industries.

Cardinal Infrastructure Group amended its agreement to buy Central Florida contractor Hughes Brothers Construction, keeping the $357.5 million price but shifting consideration to 60% cash and 40% stock. The earnout, up to $162.5 million, was also revised. Hughes Brothers posted $220 million in revenue and has about $350 million in backlog; closing is still expected in Q4 2026.

26North Partners signed a definitive agreement to acquire MEI Industrial Solutions from Olympus Partners. MEI provides rigging, machinery moving, storage and logistics for data center and semiconductor customers. Under Olympus it grew from 16 to 30 locations, made seven acquisitions and now has nearly 2,500 employees. Terms were not disclosed.

Summus bought New England pneumatics and motion control provider Controls For Automation.

Talon Precision completed its acquisition of ADEM, which will operate as ADEM Precision, extending its platform to the West Coast.

Private investment firm Greybull acquired used textile collector and recycler Mid-West Textile; terms were not disclosed.

Blackford Capital's Habco platform acquired Norfolk-based E.G. Middleton, a century-old electrical contractor.

Q360 Group, backed by Align Collaborate and Valedor Partners, bought flexographic supplies provider The Flexo Factor.

Rotunda-backed Capital Machine bought Ohio robotic systems integrator KC Robotics; terms undisclosed.

Auto parts distributor Omega Holdings bought vehicle HVAC maker O2 COOL Manufacturing.

DSG agreed to acquire GradeEight Holdings, the parent of MRO distributor Winzer and the FastServ Supply storefronts.

Flex closed its purchase of EPC Power, a power conversion provider for data centers and the grid, folding it into its Cloud and Power Infrastructure segment.

Ara Partners acquired a majority interest in Pacific Ag, North America's largest crop residue supply and logistics company.

Wynnchurch-backed ORS Nasco acquired Canadian welding wholesaler Techniweld & PowerWeld, plus three brands from Sycamore-owned Essendant.

Kinderhook-backed Eagle Leasing bought Providence-based storage container and trailer renter Mobile Storage; terms were not disclosed.

Endure acquired Precise Power's UPS services division; Precise Power keeps its equipment and turnkey solutions segment.

Kelso Industries acquired Clearwater Construction & Management, LLC.

Cardinal Infrastructure Group agreed to acquire Hughes Brothers Construction, a Central Florida heavy civil and site development contractor, for $357.5 million. Cardinal says the deal is immediately accretive, adds a substantial backlog and keeps local leadership; closing is expected in the fourth quarter of 2026.

Rochester Midland acquired ApHinity Technologies, a California provider of water footprint optimization and industrial air emissions treatment.

Innovative Refrigeration Systems, backed by CCMP Growth Advisors, bought blast-chiller maker QuickFreeze from Dan and Bob Tippmann.

Advantage Distribution Holdings acquired Wisconsin HVAC distributor Badger Metals, expanding to 17 locations across seven states.

Rensa Filtration acquired Aero Filter, a Detroit-area air filtration distribution and service company founded in 1978.

AEA Investors' middle-market team and British Columbia Investment Management acquired Rensa Filtration, an Illinois-based maker of air filtration for data centers, power, semiconductor and healthcare uses, from Audax Private Equity. Audax and management keep minority stakes. Terms were not disclosed.

Beam Global signed an agreement to acquire Norwegian inspection-drone maker ScoutDI for about $24M in cash and stock.

Kinetico acquired French water treatment company Cielter and its longtime Italian partner Enki Water.

Dallas private equity firm Sky Island Capital partnered with Wichita-based bulk material handling equipment maker Bulk Conveyors.

Utility infrastructure services firm XKIG acquired Iowa vegetation management provider Wilderness Land Management.

Atlas-backed Stryten Energy closed its purchase of C&D Technologies and Trojan Battery from KPS, backed by a $650M Silver Point term loan.

IPS bought Pennsylvania-based Belyea, a high-voltage equipment and portable substation provider founded in 1908.

LongWater Private Equity acquired a majority stake in Blastco to build a national industrial coatings platform.

Equipment renter Opifex-Synergy acquired ECCO Equipment from an affiliate of Hitachi Construction Machinery, entering five Western U.S. states.

Solidion Technology said it sees no reason to raise its all-cash offer for substantially all of Polar Power's assets after Polar's board rejected it.

Portugal's Balflex and Indiana-based NRP Jones combined their U.S. hydraulic hose and fittings operations; terms were not disclosed.