Featured Professionals: Luke Semple, Drew Spitzer, Matt White

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.

Here, we share recent Harris Williams engagements that reflect the enduring investor appeal of this cross-sector opportunity.

Electrical Infrastructure Components: DMC Power

Electrical infrastructure components are typically specified early in project design and remain in place for the life of the asset, with demand tied to infrastructure buildout, modernization, and replacement.

DMC Power designs and manufactures proprietary connector systems for transmission, distribution, and substation infrastructure. Its products support the safe and reliable operation of electrical networks and are used in high‑voltage applications where changes after installation are rare.

Demand is supported by increasing electricity usage, aging infrastructure, and grid hardening efforts. A significant portion of transmission infrastructure is nearing the end of its useful life, driving replacement and expansion activity. DMC Power’s swage connection technology has gained adoption with utilities and enables efficient buildout of substations, transmission systems, and data center interconnections.

“DMC Power shows how infrastructure investment extends beyond field services into the components that systems rely on every day,” says Luke Semple, a managing director. “These products are built into the grid, tied to long asset lifecycles, and supported by the same demand drivers shaping investment in power infrastructure.”

Power Systems Services: Shermco

Power system services play a central role in keeping infrastructure operating safely and reliably. Testing, inspection, and maintenance are required throughout the lifecycle of electrical systems and are driven by safety standards, regulatory requirements, and the need for consistent performance.

Shermco provides maintenance, repair, testing, commissioning, and engineering services across utilities, data centers, and industrial end markets. Its work supports the safety and reliability of mission‑critical electrical infrastructure and occurs at scheduled intervals or key lifecycle points, creating steady demand.

Industry drivers include aging infrastructure, rising system complexity, and increased regulatory oversight, all of which require ongoing inspection and maintenance. Shermco’s scaled workforce of NETA-certified technicians and its broad footprint allow it to deliver consistent service and documentation across locations.

“Shermco’s success reflects the ongoing importance of services that support system performance and compliance,” says Drew Spitzer, a managing director. “Customers depend on these capabilities to keep infrastructure operating safely and consistently, which drives steady demand across cycles.”

Roadway Infrastructure Services: Frontline

Roadway infrastructure services rely on continuous maintenance and field execution to keep transportation systems safe and operational. Activities such as pavement marking, traffic control, and work‑zone safety are essential and ongoing.

Frontline provides roadway safety and infrastructure services and continues to scale through acquisitions. Its acquisition of InfraStripe expanded its capabilities in highway and runway striping, traffic control, guardrail installation, signage, and related services, while also broadening its geographic reach.

Demand is supported by aging infrastructure, evolving job specifications, and the need for ongoing repair and maintenance of roadway systems. The market remains fragmented, and larger platforms can improve consistency, expand coverage, and deliver a broader set of services to customers.

“Frontline shows how scale can be built in markets that are still largely local,” says Matt White, a managing director. “By adding complementary capabilities and expanding geographic reach, platforms can support a wider range of infrastructure needs and strengthen their role with customers.”

Conclusion

Across components, services, and field execution, a variety of infrastructure-focused platforms offer investors durable demand, recurring revenue, and meaningful consolidation runway. And their growth is tied to enduring tailwinds that are insulated against AI disruptions.

“These are large, fragmented markets tied to long-term infrastructure spending,” says White. “For M&A investors, that combination of resilience and room to build creates a compelling, lasting opportunity.”