Utility Services & Power Products Q2 2026

Energy, Power & Infrastructure

EPI Sector Brief Utility Services Q4 2025 Web Media

A wide range of infrastructure-focused businesses are seeing strong long-term demand tied to electrification, grid resiliency, regulatory enforcement, and asset renewal. That’s creating a steady stream of opportunities for today’s investors across power systems, utility services, environmental infrastructure, specialty industrial components, engineering, roadway infrastructure, water/wastewater, and test, inspection, and certification.  And while AI is meaningfully improving efficiency, safety, and asset productivity across this ecosystem, it is generally not impacting core business models, revenue durability, or growth drivers. In fact, the sector’s insulation against AI disruptions makes it more appealing to investors than ever.

Infrastructure Platforms: Value Across the Asset Lifecycle

Industrials

Two engineers checking electricity substation. 

EPI IND Article Infrastructure Platforms Web Media

Utility Services & Power Products Q1 2026

Many water-related themes are generating growth and investment potential for companies throughout the value chain. For example, limited funding for water and wastewater assets has established a sustained, nondiscretionary need for maintenance and improvement. At the same time, municipalities and utilities are increasingly outsourcing noncore functions like water and wastewater management.

Water Services: M&A Momentum Across the Value Chain

Business Services

Consumer

IND EPI BS CONS Article Water Multi-Deal Web Media

Investor interest remains strong for companies tied to a variety of megatrends, including the energy transition, electrification, and grid modernization; infrastructure upkeep and upgrades; and a heightened focus on sustainability, connectivity, and digitization. Throughout these areas, businesses that serve high-growth end markets with innovative, differentiated solutions will be particularly sought after.

Outlook 2026 | Energy, Power & Infrastructure

Outlook-2026-EPI Media-Thumbnail

Utility Services Q4 2025

Nuclear Power Report: The Path to a New Era

EPI Report Nuclear Market Overview Web Media

TICC Q4 2025

Technology

BS EPI TECH Sector Brief TICC Web Media

Utility Services & Power Products Q3 2025

EPI Sector Brief Utility Services Web Media

Environmental Services Report: An Ecosystem of Potential

EPI BS Report Environmental Services Web Media

Sunbelt Solomon to be Acquired by TJC

Mergers & Acquisitions

Energy Technology

Utility & Telecom

Environmental Services

6764 Sunbelt Solomon NT PENDING

Dresser Utility Solutions to be Acquired by Blackstone Energy Transition Partners

Industrial Technology

Testing, Inspection, Certification & Compliance

Engineered Equipment, Products & Components

Energy Management

7247 Dresser Utility Solutions NT PENDING

Columbia Capital Completes Continuation Vehicle for TerraPact

Private Capital Solutions

Infrastructure

7092 PCS TerraPact - Columbia Capital NT

Integra Testing Services Acquired by Harvest Partners

Commercial & Industrial Services

7339 Integra Testing Services NT

USG Water Solutions Acquired by Warren Equity Partners  

USG Water Solutions, a portfolio company of Turnspire Capital Partners, has been acquired by Warren Equity Partners

7061 USG Water Solutions NT

TAKKION Acquired by Siris

Renewables & Distributed Energy

6790 Takkion NT

Greenbelt Capital Partners Acquires Peak Utility Services Group

7329 Peak Utility Services Group - Greenbelt Capital Partners NT

Qualus Corporation Acquired by Clearlake

Engineering & Construction

7004 Qualus Corporation NT

ENERCON Merges With Pond & Company

7136 ENERCON NT

Sabre Industries Sells Majority Stake to TPG Rise Climate

6648 Sabre Industries NT

AQUALIS Acquired by Fusion Capital Partners

7090 AQUALIS NT

New Mountain Capital Completes Continuation Vehicle for Azuria Water Solutions and Inframark

7074 Azuria AND Inframark - New Mountain Capital NT

United Utility Acquired by Sandbrook Capital

6811 United Utility NT

TRC Acquired by WSP Global

6858 TRC NT

Morgan Stanley Capital Partners Makes Majority Investment in Olsson, Inc. 

7333 Olsson Associates - Morgan Stanley Capital Partners NT SP

Kohlberg Acquires Loenbro

7331 Loenbro - Kohlberg & Company NT

Blackstone Energy Transition Partners Acquires Alliance Technical Group

7335 Alliance Technical Group - Blackstone Energy Transistion Partners NT

Service Logic Acquired by Bain Capital 

6872 Service Logic NT

Lindsay Precast Acquired by TJC 

Building Products & Materials

6561 Lindsay Precast NT

United Flow Technologies, a Portfolio Company of H.I.G. Advantage, Acquired by Berkshire Partners 

Specialty Distribution

6895 United Flow Technologies NT

Wasteology Acquired by SkyKnight Capital 

6888 Wasteology NT

Shermco Industries Acquired by Blackstone

6649 Shermco Industries NT PENDING

DMC Power Acquired by Hubbell

6887 DMC Power NT

Advent International Corporation Acquires LayerZero Power Systems

6898 Advent International Corporation - LayerZero Power Systems NT SP

O6 Environmental Acquired by Quad-C Management

6431 O6 Environmental NT

DCCM Acquired by Court Square Capital Partners

6605 DCCM NT

LS Power Acquires ENGIE Services U.S.

6890 LS Power - ENGIE Services U.S. NT

New Mountain Capital Acquires Site 20/20

Transportation Infrastructure

FW Site 20 20 Tombstone

Heartwood Partners Completes Continuation Vehicle for The Amlon Group

6669 PCA Heartwood Partners - The Amlon Group NT (1).png

Kohlberg & Company Acquires RESA Power

6921 Kohlberg and Company - RESA Power NT

Frontline Road Safety Acquires InfraStripe

XXXX Frontline Road Safety - InfraStripe NT

TTSP HWP Acquired by Tikehau Capital

General Industrial

6617 TTSP HWP NT

Electro Rent's intellirent Acquired by Sandbrook Capital

6602 intellirent NT

Frontline Road Safety Acquired by Bain Capital

6580 Frontline Road Safety NT

A&M Capital Partners Acquires East Coast Power

6697 A&M Capital Partners - East Coast Power NT SP

Macquarie Asset Management Acquires DynaGrid

6783 Macquarie Asset Management - DynaGrid NT SP

Green Rock Energy Partners Completes Multi-Asset Continuation Vehicle for BioTown Biogas and Neu Energy Solutions 

6280 PCA Green Rock Energy Partners - BioTown BioGas & Nue Energy Solutions NT

GPRS Forms Strategic Partnership With Roark and Kohlberg

6599 GPRS NT

Nature Infrastructure Capital Closes Single Asset Fund for ECO STOR

PCA Nature Infrastructure Capital NT

Good Springs Capital Invested in Tectonic

6741 Good Springs Capital - Tectonic NT SP

GeoStabilization International Acquired by Leonard Green & Partners

6414 GeoStabilization International NT

Allied Industrial Partners Completes Continuation Vehicle for CES Power

6404 PCA Allied Industrial CES Power NT

CLEAResult Receives Majority Investment from Kohlberg & Company

5595 CLEAResult NT

Universal Plant Services’ Rotating Segment Acquired by New State Capital Partners

5962 Universal Plant Services NT

Acuren Acquired by Admiral Acquisition Limited

6482 Acuren NT

Maxima Power Group Acquired by Sunbelt Solomon Services

Utility Services M&A Deal: Harris Williams advised Maxima Power Group on their sale to Sunbelt Solomon.

6368 Maxima Power Group NT

SkyKnight Capital Makes Growth Investment in Ampirical Solutions

6575 SkyKnight - Ampirical Solutions NT SP

Trachte, LLC acquired by nVent Electric plc for $695 Million

6385 Trachte NT

Insulation Technology Group Acquired by TJC

6109 Insulation Technology Group NT

First Reserve Sells GridTek Utility Services  

6161 GridTek NT

Consor Acquired By New Mountain Capital

6255 CONSOR NT

Voltyx Acquired by Asplundh

6336 Voltyx NT SP

H.I.G. Capital Acquires USA DeBusk

6411 HIG Capital - USA DeBusk NT

PSC Group Recapitalized With TJC

Transportation & Logistics

Third-Party Logistics

6246 PSC Group NT

Morgan Stanley Capital Partners Acquires Resource Innovations

6532 Morgan Stanley Capital Partners - BV Investment Partners NT

USA Water Acquired by Levine Leichtman Capital Partners

6141 USA Water Holdings NT

H.I.G. Capital Acquires CHA Consulting

6406 HIG Capital - CHA NT

WRM Companies Acquired by Ridgewood Infrastructure

5916 WRM NT

Systems Control Acquired by Hubbell 

5961 Systems Control NT

Blackstone Acquires Power Grid Components, Inc.

6367 Blackstone - Power Grid Components NT

Saber Power Services, LLC Acquired by Greenbelt Capital Management, L.P.

6038 Saber Power Services NT

MGM Transformer Company Enters Partnership With Neos Partners

5860 MGM Transformer NT SP

Waste Harmonics Merged With Keter Environmental Services

5856 Waste Harmonics NT

RHV Capital's Traffic Control Group & Texas Traffic and Barricade

6130 AWP Inc (Project Wolverine) NT

GME Supply Company Acquired by Incline Equity Partners

5829 GME Supply Co (Project Tiger) NT

DMC Power Acquired by Golden Gate Capital

5800 DMC Power (Project Power) NT

Tower Engineering Professionals

5987 Tower Engineering Professionals NT

Hultec USA

United States

6037 Hultec USA NT

Enercon

5682 Enercon NT

USG Water Solutions

5906 USG Water Solutions (Suez Advanced Solutions Project Leopard) NT

Ardurra Group

5827 Ardurra Group NT

Apex Companies

5887 Apex Companies NT

Versa Integrity Group

5278 Versa Integrity Group NT

USIC

5681 USIC NT

D&H United Fueling Solutions

5574 D&H United Fueling Solutions

Harris Williams advised Terra Millennium Corporation, a portfolio company of Court Square Capital Partners, on its sale to H.I.G. Capital. Terra Millennium is a leading national provider of outsourced industrial maintenance services, including refractory maintenance and other specialized services.

Terra Millennium Corporation

Overview

Engagements

Insights