Water is an essential resource and critical infrastructure priority, generating ongoing demand and investor interest across the water services value chain.  Here we further explore the sector’s M&A momentum, profiling several recent clients that demonstrate the opportunity.

Water Services: Ongoing Activity, Wide-Ranging Opportunity

Energy, Power & Infrastructure

Consumer

Business Services

Industrials

BS CONS EPI IND Article Water Services Web Media

The impact of generative AI on the semiconductor supply chain is vast and multifold: High-performance computing is exploding, the data center buildout is accelerating, and a range of technology companies and emerging AI players are tapping into the opportunity.

Semiconductor Supply Chain: An Escalating Need for Advanced Chips

The engineer's gloved hand is holding the CPU chip against the background of the motherboard.

IND Article Semiconductor Web Media

Packaging Q2 2026

IND Sector Brief Packaging Q2 2025 LI web-media

Building Products Q2 2026

Exterior shot of a Beverly Hills, CA property for sale.

IND Sector Brief Building Products Q2 2026 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

Two engineers checking electricity substation. 

EPI IND Article Infrastructure Platforms Web Media

In a world being transformed by AI, a wide range of industrials sectors continue to provide investors with durable opportunities to deploy capital and achieve reliable returns.  In particular, HALO businesses—defined by heavy assets and low obsolescence—operate at the physical foundation of the economy, producing materials, components, and systems that are required regardless of software advancement or digital substitution.

Industrials: The HALO Effect in the AI Era  

IND Article HALO Web Media

Featuring resilient and recurring demand, a wide variety of engineered equipment, products, and components are on investors’ radar. While many categories are seeing success, companies specializing in building automation and controls are particularly appealing.

Building Automation and Controls: Energy Efficiency Goals Generate Demand

Engineer installing and testing automated building control equipment in fuse box and repairing of modern electricity power station. 

IND Article Functional Devices Web Media

Organizations and consumers are both seeking ways to maintain cleanliness and safety, driving sustained demand for many types of products.  At the intersection of the health and hygiene and janitorial and sanitation categories sits our recent client GOJO Industries. The company’s well-known PURELL® brand plays a unique and essential role in the daily lives of millions of people, whether in healthcare settings, at the workplace, in the businesses they frequent as customers, or in the home.

Health and Hygiene: GOJO and the Demand for Trusted Brands, Recurring Revenue, and Unique IP

An African American man uses hand sanitizer while waiting for a bus at a station.

BS IND Article GOJO Web Media

The proliferation of AI and advanced computing is driving an expansion in data center capacity, creating a critical bottleneck: reliable, immediate power. As power demand continues to accelerate, the gas turbine and reciprocating engines market is evolving from a relatively quiet sector into a compelling investment opportunity.

Data Centers: Power Demand and the Gas Turbine Opportunity

Aerospace, Defense & Government Services

Natural gas turbine power plant at sunset

ADG IND Article Gas Turbines Web Media

Automation is increasingly critical across modern discrete (factory) processes, enabling greater quality, higher throughput, and lower production costs. In fact, the $150B global discrete (factory) automation market is expected to expand at a 6% CAGR to reach $200B by 2030.1  “Automation is evolving into a strategic necessity that addresses skilled labor shortages, supply chain fragility, and the economics of reshoring while unlocking better productivity and sustainability,” says Mark Brune, a managing director in our Industrials Group.

Discrete Automation Report: Technology, Scale, and the Next Wave of Industrial Investment

IND Report LEK Discrete Automation Web Media

Valco Melton Acquired by Graco Inc.

Mergers & Acquisitions

Engineered Equipment, Products & Components

Industrial Technology

Packaging

6996 Valco Melton NT SP PENDING

IPS Group, Inc. to be Acquired by Nayax

Technology

Vertical Software

7337 IPS Group NT PENDING

Deutsche Private Equity to Acquire FOGTEC

7614 FOGTEC - Deutsche Private Equity NT PENDING

Sentech to be Acquired by Spectris

Defense and Space

7340 Sentech Inc. NT PENDING

Micross Components Inc. to Acquire AEMtec

7618 Micross Components - AEMtec GmbH NT PENDING

GracoRoberts to Receive Strategic Investment from Tinicum

Aviation Services

Specialty Distribution

Chemicals & Specialty Materials

Enterprise Software

7042 GracoRoberts NT PENDING

Dresser Utility Solutions to be Acquired by Blackstone Energy Transition Partners

Energy Technology

Testing, Inspection, Certification & Compliance

Energy Management

7247 Dresser Utility Solutions NT PENDING

Tex Tech Acquired by Michelin

Aerospace Technology & Products

7085 Tex Tech Industries NT

Hubbell Incorporated Acquires NSI Industries

Building Products & Materials

7481 Hubbell Incorporated - NSi Industries NT

GOJO Industries Acquired by The Clorox Company

Consumer Products

Medical Products and Devices

6885 GOJO Industries NT SP

National Coatings & Supplies Acquired by Wesco Group

Transportation & Logistics

Automotive & Heavy-Duty Aftermarket

6994 National Coatings and Supplies NT

Super-Sod Acquired by Kainos Capital

6397 Super-Sod NT

Functional Devices Inc. Acquired by L Squared Capital Partners

6958 RIB Functional Devices NT

Kohlberg Acquires Loenbro

Infrastructure

7331 Loenbro - Kohlberg & Company NT

JLL Partners Acquires PowerParts Group

7369 PowerParts Group - JLL Partners NT

Potters Industries Acquired by Macquarie Asset Management

6405 Potters Industries NT

Lindsay Precast Acquired by TJC 

Engineering & Construction

6561 Lindsay Precast NT

PurgeRite Acquired by Vertiv Holdings Co.

Commercial & Industrial Services

6779 PurgeRite NT

Heatscape Acquired by Guardian Capital Partners 

Heatscape has been acquired by Guardian Capital Partners

6484 Heatscape NT SP

AlpHa Measurement Solutions Acquired by Enpro Inc.

6881 AlpHa Measurement Solutions NT

Damotech Acquired by Vance Street Capital

6835 Damotech NT

Avtron Power Solutions Acquired by Legrand S.A.

6600 Avtron Power Solutions NT

DMC Power Acquired by Hubbell

6887 DMC Power NT

Rensa Filtration Acquires IREMA-Filter

7053 IREMA-Filter - Rensa Filtration NT

Logix ITS Acquired by TAPCO

6760 Logix ITS NT

Great Lakes Data Racks & Cabinets Acquired by Vertiv Holdings Company

6803 Great Lakes NT SP

Advent International Corporation Acquires LayerZero Power Systems

6898 Advent International Corporation - LayerZero Power Systems NT SP

Ideal Tridon Acquired by Nautic Partners

5411 Ideal Tridon Holdings NT

Elgen Manufacturing Company Acquired by Worthington Enterprises 

6432 Elgen Manufacturing NT

Mosaic Companies’ Opustone Acquired by Construction Resources, a Subsidiary of The Home Depot

6662 Opustone - NT

Graham Partners Completes Continuation Vehicle for Gatekeeper Systems

Private Capital Solutions

6777 PCA Graham Partners - Gatekeeper Systems NT

TTSP HWP Acquired by Tikehau Capital

General Industrial

6617 TTSP HWP NT

Electro Rent's intellirent Acquired by Sandbrook Capital

Environmental Services

6602 intellirent NT

H.B. Fuller’s Flooring Business Acquired by Pacific Avenue Capital Partners

6471 H.B. Fuller Flooring Business NT SP

NSI Industries Acquired by Sentinel Capital Partners

6566 NSI Industries NT

UW Solutions Acquired by Apogee Enterprises, Inc.

5766 UW Solutions NT

Waste Vision Acquired by MML Capital Partners

6176 Waste Vision NT

Salient Acquired by Trystar, a Portfolio Company of Blackstone

6266 Salient NT

Harris Williams Advised Mott Corp. on Sale to IDEX Corp.

6274 Mott Corporation NT SP

Raptor Scientific Acquired By TransDigm Group

Government Technology and Services

6016 Raptor Scientific NT

Marshall Excelsior Company Acquired by Dover

6512 Marshall Excelsior Company NT

CONTENUR Acquired by Nexxus Capital

5382 Contenur NT

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

6385 Trachte NT

Supreme Cabinetry Brands Acquired by MasterBrand

6297 Dura Supreme NT

Insulation Technology Group Acquired by TJC

6109 Insulation Technology Group NT

Undisclosed Investor Completes Continuation Vehicle for Covia​

Natural Resources, Metals, and Mining

Harris Williams advised an undisclosed investor on their single-asset continuation vehicle raise for Covia Holdings LLC.

PCA Covia NT

Tailwind Capital Acquires GrayMatter

6524 Tailwind - Gray Matter NT

AGR International Acquired by Indicor

5808 AGR International, Inc. NT

Safe Fleet Acquired by Clarience Technologies

Transportation Equipment

6080 Safe Fleet NT

Arsenal Capital Partners Makes Majority Investment in Polycorp Ltd.

6448 Polycorp NT SP

Motion Solutions Acquired by Novanta

5685 Motion Solutions NT

Sentinel Capital Partners Recapitalizes Online Labels Group

6372 Sentinel Capital Partners - Online Labels Group NT

Guardian Capital Acquires Q-Free 

Q-Free tombstone

Potter Global Technologies Acquired by KKR

6027 Potter Global Technologies NT

Fara AS Acquired by Modaxo 

5914 FARA NT

Lubrication Engineers

industrials-m&a-deal-lubrication-engineers-acquired-by-aurora

5881 Lubrication Engineers NT

Midland Industries Acquired by Gemspring Capital

5684 Midland Industries NT

DMC Power Acquired by Golden Gate Capital

5800 DMC Power (Project Power) NT

Liquibox

5769 Liquibox Corporation NT

Harris Williams advised Summit Interconnect, a portfolio company of HCI Equity Partners, on its sale to Lindsay Goldberg. Summit is a leading provider of complex printed circuit boards focused on defense, space and high-performance commercial sectors in the North American market.

Summit Interconnect

5095_summit_interconnect.png

Harris Williams advised PTV Group, a portfolio company of Bridgepoint and Porsche SE, on its acquisition of Econolite, a leading North American provider of intelligent traffic management solutions.

Econolite

United States

5704 Econolite NT

Harris Williams advised Coastal Forest Resources Company on the sale of its subsidiary, Coastal Plywood Company, to Boise Cascade Company. Coastal Plywood Company is a leading provider of plywood, lumber, and treated wood products throughout the U.S. Southeast.

Coastal Plywood

5558 Coastal Plywood NT

Harris Williams advised Polara Enterprises, a portfolio company of Vance Street Capital, on its acquisition of Eberle Design Inc., a subsidiary of PPG Corporation. Eberle Design Inc. is a leading developer and manufacturer of highly engineered traffic safety technologies that enable safe and connected infrastructure.

Eberle Design Inc.

Overview

Engagements

Insights