Infrastructure Acquisitions in 2022
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December 13, 2022
- Buyer
- Netrality Data Centers
- Target
- Lifeline Data Centers
- Seller
- Lifeline Data Centers
- Industry
- Infrastructure
- Location
- Indiana, United States
- Type
- Buyout
Netrality Data Centers acquired Lifeline Data Centers' 733 West Henry colocation facility on the Indy Telcom campus in Indianapolis. The 30,000 sq ft facility will continue to offer colocation while Netrality expands interconnection services to link the site with its 701 West Henry meet-me room and broader Indianapolis campus ecosystem.
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- Buyer
- The Universal Group, CAI Capital Partners, BDC Capital, Roynat Equity Partners, Frind Enterprises
- Target
- Advanced Traffic Control
- Industry
- Infrastructure
- Location
- Washington, United States
- Type
- Addon
The Universal Group, a CAI Capital Partners portfolio company, has acquired Advanced Traffic Control (ATC), a traffic control services provider based in Auburn, Washington. CAI and co-investors BDC Capital, Roynat Equity Partners and Frind Enterprises backed the transaction as equity co-investors; debt financing was provided by Bank of Montreal, CIBC and Scotiabank. This marks Universal's first U.S. acquisition as part of a contiguous Pacific Northwest expansion, and ATC's founders will remain in leadership and as shareholders.
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December 6, 2022
- Buyer
- DigitalBridge Group, Inc., IFM Investors
- Target
- Switch, Inc.
- Seller
- Public shareholders of Switch
- Industry
- Infrastructure
- Location
- Nevada, United States
- Type
- Buyout
Funds affiliated with DigitalBridge and an affiliate of IFM Investors completed a take-private acquisition of Switch, Inc. for $34.25 per share, valuing the transaction at approximately $11 billion including assumed debt. The buyers said the transaction will support scaling Switch's data center and digital infrastructure operations domestically and internationally.
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November 23, 2022
- Buyer
- Invesis
- Target
- Asanti Datacentres Limited
- Seller
- Daisy Group
- Industry
- Infrastructure
- Location
- Scotland, United Kingdom
- Type
- Buyout
Invesis, a Netherlands-based investor and developer of sustainable infrastructure, has acquired UK-based Asanti Datacentres Limited and is now the 100% owner. The transaction includes Asanti's simultaneous purchase of five Regional Edge data centres from Daisy Group, giving Invesis an immediate presence in the UK data centre market to support future growth in digital infrastructure.
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November 17, 2022
- Buyer
- Iron Mountain Incorporated
- Target
- XData Properties
- Seller
- Stoneshield Capital
- Industry
- Infrastructure
- Location
- Community of Madrid, Spain
- Type
- Buyout
Iron Mountain Incorporated has acquired XData Properties, a large data center campus in San Fernando (Corredor del Henares), Madrid, from Stoneshield Capital to expand its EMEA data center footprint. The campus has capacity planned to develop up to 79 MW of IT power, with a first 20 MW facility targeted for 2024, enabling Iron Mountain to serve hyperscale, cloud, network and enterprise customers in Spain.
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October 31, 2022
- Buyer
- Colorado Barricade Co., Caymus Equity
- Target
- Pavement Surface Control, Inc.
- Industry
- Infrastructure
- Location
- Washington, United States
- Type
- Addon
Colorado Barricade Co., a Caymus Equity-backed road safety services platform, acquired Pavement Surface Control, Inc. (PSC), a Kennewick, Washington-based provider of pavement striping, concrete barrier and traffic control services. The deal — an inaugural add-on for Colorado Barricade since Caymus Equity's 2021 investment — expands the platform's geographic footprint into the Pacific Northwest to capture increased state and federal infrastructure spending.
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October 24, 2022
- Buyer
- SMC Infrastructure Partners
- Target
- InfraNext Partners
- Industry
- Infrastructure
- Location
- Massachusetts, United States
- Type
- Buyout
SMC Infrastructure Partners has acquired infrastructure investment platform InfraNext Partners, bringing founders Scott Troeller and Joseph Dunfee into SMC's senior management team. The addition expands SMC's capabilities and M&A/development pipeline with a focus on energy transition, resiliency, environmental impact and digitalization.
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- Buyer
- GIC, Oak Street (a Division of Blue Owl), Funds managed by Oak Street (affiliates of Oak Street / Oak Street-managed funds)
- Target
- STORE Capital Corporation
- Industry
- Infrastructure
- Location
- Arizona, United States
- Type
- Buyout
GIC, together with funds managed by Oak Street (a division of Blue Owl), agreed to acquire STORE Capital for approximately $14 billion in an all-cash transaction valued at $32.25 per share. The deal is subject to STORE Capital stockholder approval and customary closing conditions, with an expected close in the first quarter of 2023.
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October 10, 2022
- Buyer
- AtlasEdge
- Target
- Datacenter One (DC1)
- Industry
- Infrastructure
- Location
- Baden-Württemberg, Germany
- Type
- Buyout
AtlasEdge, a pan-European edge data center provider, announced the acquisition of Datacenter One (DC1), a German data center operator headquartered in Stuttgart. The deal is intended to accelerate AtlasEdge’s expansion across Germany and add “ready-to-sell” colocation capacity across multiple metro markets.
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October 6, 2022
- Buyer
- Veolia Environnement
- Target
- Vigie SA (formerly known as Suez SA)
- Industry
- Infrastructure
- Location
- France
- Type
- Divestiture
Veolia announced that it has signed a merger agreement to merge Vigie SA (formerly Suez SA) into Veolia as part of a legal-structure simplification. Following Veolia’s successful cash tender offer and mandatory squeeze-out, Veolia holds (and will hold until completion) all shares of Vigie, with final merger completion scheduled for October 31, 2022.
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- Buyer
- Cotton Creek Capital
- Target
- Bobcat Heavy Civil, LLC
- Industry
- Infrastructure
- Location
- Texas, United States
- Type
- Buyout
Cotton Creek Capital has formed Bobcat Power Holdings, LLC and acquired regional substation contractor Bobcat Heavy Civil, LLC to create a platform for substation infrastructure services. Bobcat, headquartered in Waco, Texas, will continue providing turnkey substation site work and above-ground electrical construction across Texas, Oklahoma and Louisiana as Cotton Creek scales the business.
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October 4, 2022
- Buyer
- EQOS Group
- Target
- Colas Rail Belgium
- Industry
- Infrastructure
- Location
- Hainaut, Belgium
- Type
- Addon
EQOS Group, a Triton Fund IV portfolio company, has acquired Colas Rail Belgium to strengthen its Railway Technology business unit and expand into long-distance rail services in Belgium. Colas Rail Belgium (2021 revenue ~€23M, ~150 employees) will continue to operate from Enghien and Maldegem and will trade as EQOS Energie Belgium SA, broadening EQOS's offering across planning, installation, construction and maintenance of catenary lines and tracks.
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September 12, 2022
- Buyer
- Arcus Infrastructure Partners (AEIF3)
- Target
- Workdry International Limited
- Seller
- The Bright family
- Industry
- Infrastructure
- Location
- Hampshire, United Kingdom
- Type
- Buyout
Arcus Infrastructure Partners' AEIF3 has agreed to acquire approximately an 83% interest in Workdry International Limited, the UK’s leading lessor of water pumps and modular wastewater treatment systems. The Bright family and key management will retain the remaining shareholding; the deal is the first investment for Arcus' new European infrastructure fund and will support Workdry's growth and scaling plans across water utility, infrastructure and construction markets.
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August 23, 2022
- Buyer
- Aegion Corporation
- Target
- Next Level Environmental
- Industry
- Infrastructure
- Location
- Massachusetts, United States
- Type
- Addon
Aegion Corporation has acquired Next Level Environmental, a Canton, Massachusetts–based provider of underground and vacuum excavation services. The Next Level Environmental team and assets will operate under Aegion's Insituform business to expand trenchless and turnkey infrastructure services across the New England market.
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- Buyer
- Kohlberg & Company, Partners Group, Neuberger Berman (funds managed)
- Target
- United States Infrastructure Corporation (USIC)
- Industry
- Infrastructure
- Location
- Indiana, United States
- Type
- Recapitalization
Kohlberg & Company is acquiring a 50% stake in United States Infrastructure Corporation (USIC) while Partners Group will retain a 50% co-lead interest; funds managed by Neuberger Berman also joined the investment. The transaction values USIC at an enterprise value of USD 4.1 billion — USIC is a leading provider of utility locate services headquartered in Indianapolis with ~9,000 technicians performing roughly 80 million locates per year. The investors plan to support further growth through investments in sales and digital capabilities to capture demand driven by infrastructure stimulus and 5G densification.
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August 8, 2022
- Buyer
- SAM Companies
- Target
- Linewise Aerial
- Industry
- Infrastructure
- Location
- Alberta, Canada
- Type
- Buyout
SAM Companies, a U.S.-based provider of geospatial and inspection solutions, has acquired Calgary-based Linewise Aerial to expand its aerial mapping and inspection capabilities across the Western U.S. and Canada. The acquisition brings Linewise's team and ultra-high definition aerial mapping technology into SAM to bolster service offerings, geographic footprint, and AI/ML model development for utility transmission and distribution inspections.
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- Buyer
- Macquarie Asset Management (via Macquarie European Infrastructure Fund 7)
- Target
- VIRTUS Data Centres
- Seller
- ST Telemedia Global Data Centres (STT GDC)
- Industry
- Infrastructure
- Location
- England, United Kingdom
- Type
- Growth capital
Macquarie Asset Management, via Macquarie European Infrastructure Fund 7, has acquired a significant minority stake in VIRTUS Data Centres. The investment, made in partnership with ST Telemedia Global Data Centres, will help scale VIRTUS' UK platform, accelerate European expansion and support continued investment in technology and sustainability.
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- Buyer
- Calvert Street Capital Partners, Allclear Underground Solutions
- Target
- Rowland, Inc.
- Industry
- Infrastructure
- Location
- Florida, United States
- Type
- Buyout
Calvert Street Capital Partners has formed a new platform, Allclear Underground Solutions, and acquired Rowland, Inc., a West Central Florida provider of underground water and wastewater infrastructure services. The investment, made in partnership with Rowland's senior management and led operationally by CEO Brian Johnson, positions Allclear to pursue further add-on acquisitions and expand services for municipal and utility customers across Florida and the Southeast.
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- Buyer
- Argo Infrastructure Partners, LP (affiliate)
- Target
- Macquarie Infrastructure Holdings, LLC (MIC)
- Seller
- MIC unitholders
- Industry
- Infrastructure
- Location
- New York, United States
- Type
- Buyout
An affiliate of Argo Infrastructure Partners, LP completed a merger to acquire Macquarie Infrastructure Holdings, LLC (MIC) for $4.11 per unit, with the transaction closing on July 21, 2022 and resulting in MIC’s delisting from the NYSE. The deal was presented as a take-private transaction to unlock value for equity holders; Lazard and Evercore served as financial advisors and White & Case as legal counsel to MIC.
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July 18, 2022
- Buyer
- Berkshire Partners, van Rooyen Group, Taavura
- Target
- MedOne
- Industry
- Infrastructure
- Location
- Tel Aviv District, Israel
- Type
- Growth capital
MedOne, Israel’s leading colocation data center provider, received a significant growth investment from U.S. private equity firm Berkshire Partners and the van Rooyen Group, alongside majority shareholder Taavura. The funding will be used to optimize and expand MedOne’s data center portfolio and accelerate facility development across Israel and the broader region.
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- Buyer
- DigitalBridge Group, Inc., Brookfield Infrastructure, Brookfield Infrastructure institutional partners
- Target
- GD Towers
- Seller
- Deutsche Telekom AG
- Industry
- Infrastructure
- Location
- Germany
- Type
- Buyout
DigitalBridge Group (NYSE: DBRG) and funds affiliated with its investment management arm, together with Brookfield Infrastructure and its institutional partners, have agreed to acquire a 51% ownership stake in GD Towers, the mobile telecommunications tower business of Deutsche Telekom AG. The transaction values GD Towers at €17.5 billion (including assumption of net debt) and is expected to close in late 2022, subject to regulatory approvals. Deutsche Telekom will retain a 49% minority stake after the deal closes.
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- Buyer
- OMERS Private Equity (on behalf of OMERS)
- Target
- Network Plus
- Seller
- Livingbridge, Management shareholders
- Industry
- Infrastructure
- Location
- Greater Manchester, United Kingdom
- Type
- Buyout
OMERS Private Equity has agreed to acquire Network Plus, a leading UK utility and infrastructure repair and maintenance provider, from management shareholders and Livingbridge. Network Plus is headquartered in Worsley, Greater Manchester, employs over 5,000 people across 85 regional offices and depots, and OMERS intends to support the company's growth, bolt-on M&A and role in energy transition and decarbonisation.
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- Buyer
- Antin Infrastructure Partners
- Target
- RAW Charging
- Industry
- Infrastructure
- Location
- England, United Kingdom
- Type
- Buyout
Antin Infrastructure Partners acquired a majority stake in RAW Charging, a UK-based operator that installs and owns destination EV charging points, to accelerate RAW’s rollout of more than 10,000 chargers over the next three years. The investment is part of Antin’s NextGen infrastructure strategy to expand its EV charging platform and support transport decarbonisation in the UK; the deal was expected to close in early Q3 2022.
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- Buyer
- Zurn Water Solutions Corporation
- Target
- Elkay Manufacturing Company
- Industry
- Infrastructure
- Location
- Wisconsin, United States
- Type
- Buyout
Zurn Water Solutions and Elkay Manufacturing announced they will combine in an all-stock transaction, creating a newly named company, Zurn Elkay Water Solutions. Zurn shareholders will own about 71% and Elkay shareholders about 29% of the combined company, with Elkay valued at about $1.56 billion based on Zurn’s February 11, 2022 stock price. The companies completed the combination in June 2022 and Zurn Elkay continues to trade on the NYSE under ticker ZWS.
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June 15, 2022
- Buyer
- Turning Rock Partners
- Target
- United Infrastructure Holdings, Carolina Marine Structures
- Industry
- Infrastructure
- Location
- United States
- Type
- Recapitalization
Turning Rock Partners completed a $20 million structured capital investment to refinance United Infrastructure Holdings (UIH) and its marine services platform, Carolina Marine Structures (CMS). The financing supports CMS's growth, regional expansion and enables UIH to pursue an aggressive acquisition program.
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June 14, 2022
- Buyer
- Vance Street Capital
- Target
- Eberle Design, Inc.
- Industry
- Infrastructure
- Location
- Arizona, United States
- Type
- Addon
Vance Street Capital, a Los Angeles-based private equity firm, has acquired Eberle Design, Inc. (EDI), a provider of intersection safety products and ITS technologies. EDI will join Vance Street's traffic and pedestrian safety ITS platform alongside Polara Enterprises and Carmanah Technologies to expand the platform's intersection safety product portfolio and accelerate product innovation.
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- Buyer
- Prologis
- Target
- Duke Realty
- Industry
- Infrastructure
- Location
- Indiana, United States
- Type
- Buyout
Prologis (NYSE: PLD) and Duke Realty (NYSE: DRE) entered into a definitive merger agreement in which Prologis will acquire Duke Realty in an all-stock transaction valued at approximately $26 billion (including assumption of debt). The deal was unanimously approved by both boards and was expected to close in Q4 2022, subject to shareholder and customary closing conditions.
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May 25, 2022
- Buyer
- D.R. Horton, Inc., Potable Merger Sub, Inc.
- Target
- Vidler Water Resources, Inc. (Vidler)
- Industry
- Infrastructure
- Location
- Nevada, United States
- Type
- Buyout
D.R. Horton completed its cash tender offer and acquisition of Vidler Water Resources, acquiring all outstanding shares at $15.75 per share. Following the merger, Vidler became a wholly owned subsidiary of D.R. Horton and its Nasdaq listing was eliminated.
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- Buyer
- IPI Partners, LLC
- Target
- Safe Host SA
- Seller
- Founders, management, and funds managed by StepStone Real Estate (SRE)
- Industry
- Infrastructure
- Location
- Switzerland
- Type
- Buyout
IPI Partners (IPI) agreed to acquire a majority stake in Switzerland-based data center owner and operator Safe Host SA. The acquired portfolio will be incorporated into IPI’s STACK Infrastructure platform, expanding STACK’s presence and geographic diversity in Europe, including Switzerland.
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May 18, 2022
- Buyer
- Antin Infrastructure Partners
- Target
- Power Dot
- Seller
- Arié Group, Other current shareholders
- Industry
- Infrastructure
- Location
- Portugal
- Type
- Buyout
Antin Infrastructure Partners’ NextGen platform has signed an agreement to acquire a co-controlling stake in Power Dot, a Portugal-founded owner-operator of destination and en-route EV charging infrastructure across Europe. The investment will support Power Dot’s pan-European expansion of its network of ~5,000 charging points and accelerate deployment through existing commercial partnerships with retailers, shopping centres, motorway service stations and fleet operators.
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- Buyer
- Diamondback Energy, Inc., Diamondback E&P LLC
- Target
- Rattler Midstream LP
- Industry
- Infrastructure
- Type
- Buyout
Diamondback Energy, Inc. agreed to acquire all publicly held common units of Rattler Midstream LP not already owned by Diamondback and its subsidiaries in an all-stock transaction valued at about $2.2 billion. The definitive agreement was entered into on May 15, 2022, and the deal was expected to close in the third quarter of 2022 subject to customary conditions.
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May 12, 2022
- Buyer
- BitNile Holdings, Inc., BitNile, Inc.
- Target
- Alliance Cloud Services, LLC
- Seller
- previous 30% owners of Alliance Cloud Services, LLC
- Industry
- Infrastructure
- Location
- Michigan, United States
- Type
- Buyout
BitNile Holdings, Inc. announced that its wholly owned subsidiary BitNile, Inc. closed a membership interest purchase agreement with the previous 30% owners of Alliance Cloud Services, LLC, giving BitNile full (100%) ownership of ACS, which owns and operates a 617,000 sq. ft. data center on a 34.5-acre site in southern Michigan. BitNile said full ownership improves flexibility to execute its Bitcoin mining strategy; the company has invested roughly $127 million in its mining operations, including approximately $12.3 million for the facility and infrastructure improvements.
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May 11, 2022
- Buyer
- Macquarie Asset Management, Macquarie Asia-Pacific Infrastructure Fund 3
- Target
- Bersama Digital Infrastructure Asia Pte. Ltd.
- Seller
- Provident Capital, PT Saratoga Investama Sedaya Tbk.
- Industry
- Infrastructure
- Location
- Singapore
- Type
- Growth capital
A consortium led by Macquarie Asset Management (via Macquarie Asia-Pacific Infrastructure Fund 3) has acquired a significant minority stake in Bersama Digital Infrastructure Asia Pte. Ltd. for about $610 million. The investment — made alongside Provident Capital and PT Saratoga Investama Sedaya Tbk — will support the platform's pursuit of digital infrastructure opportunities across Southeast Asia, including telecom towers, fibre and data centres; Bersama holds a 62.4% stake in PT Tower Bersama Infrastructure Tbk.
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- Buyer
- GridTek Utility Services, First Reserve
- Target
- American Power, LLC, Valiant Energy Services, LLC
- Industry
- Infrastructure
- Location
- United States
- Type
- Addon
GridTek Utility Services, a First Reserve portfolio company, has acquired American Power, LLC and Valiant Energy Services, LLC to expand its electric transmission and distribution maintenance, repair and upgrade capabilities across the U.S. The simultaneous add-ons nearly double the size of the GridTek platform (pro forma > $350 million in revenue) and increase its geographic footprint and service capacity for investor-owned utilities, cooperatives and municipalities.
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April 22, 2022
- Buyer
- VPLS
- Target
- Carrier-1
- Seller
- Carrier-1
- Industry
- Infrastructure
- Location
- Texas, United States
- Type
- Buyout
US colocation operator VPLS acquired Carrier-1’s 106,000 sq ft (now DA4) data center facility in Dallas, Texas, adding up to 10MW of capacity and expanding its Dallas footprint. Financial terms were not disclosed; Bank Street Group LLC served as exclusive financial advisor to Carrier-1.
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- Buyer
- DataBank
- Target
- 365 Data Centers — Pittsburgh data center, 365 Data Centers — Cleveland data center
- Seller
- 365 Data Centers
- Industry
- Infrastructure
- Location
- Connecticut, United States
- Type
- Divestiture
DataBank acquired data center facilities in Pittsburgh, Pennsylvania and Cleveland, Ohio from 365 Data Centers in January 2017. The acquisitions provided DataBank with key carrier interconnection assets and accelerated its national expansion by establishing anchor sites in two new markets.
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April 5, 2022
- Buyer
- Inframark
- Target
- BL Technology, Inc. (BLTI)
- Seller
- Bob Lee and Debi Lee (founders/owners of BLTI)
- Industry
- Infrastructure
- Location
- Texas, United States
- Type
- Buyout
Inframark has acquired BL Technology, Inc. (BLTI), a Tomball, Texas-based provider of SCADA, control panel fabrication, and security/fire system integration. The acquisition, which closed March 31, 2022, expands Inframark’s SCADA capabilities and national footprint in water and wastewater infrastructure operations.
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March 28, 2022
- Buyer
- USD Partners LP
- Target
- Hardisty South terminal assets (entities owning Hardisty South)
- Seller
- USD Group LLC
- Industry
- Infrastructure
- Location
- Canada
- Type
- Buyout
USD Partners LP has entered into an agreement to acquire entities owning the Hardisty South terminal assets from USD Group LLC in a transaction valued at $75 million in cash plus approximately 5.75 million common units. The deal is expected to close in the second quarter of 2022, subject to required consents.
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- Buyer
- EIG, Fluxys
- Target
- GNL Quintero S.A.
- Seller
- Enagas Chile SpA, affiliates of OMERS Infrastructure
- Industry
- Infrastructure
- Location
- Chile
- Type
- Buyout
EIG, an energy and infrastructure institutional investor, and Fluxys, an energy infrastructure operator, announced they will jointly acquire an 80% equity stake in GNL Quintero S.A. from Enagas Chile SpA and affiliates of OMERS Infrastructure. The acquisition is expected to close in the second half of 2022, subject to customary regulatory approvals.
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March 25, 2022
- Buyer
- KKR, Global Infrastructure Partners (GIP)
- Target
- CyrusOne
- Seller
- CyrusOne shareholders
- Industry
- Infrastructure
- Location
- Texas, United States
- Type
- Buyout
Funds managed by KKR and Global Infrastructure Partners (GIP) completed the all-cash acquisition of CyrusOne for approximately $15 billion including debt. CyrusOne will be taken private, its Nasdaq listing suspended and delisted as the new owners plan to support the company's global expansion and capitalize on strong secular demand for data center capacity.
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March 25, 2022
- Buyer
- DigitalBridge Investments, LLC, DigitalBridge Group, Inc.
- Target
- Telenet Group Holding NV - mobile telecommunications tower business (“TowerCo”)
- Seller
- Telenet Group Holding NV
- Industry
- Infrastructure
- Location
- Belgium
- Type
- Buyout
DigitalBridge Investments, LLC (an affiliate of DigitalBridge Group) has agreed to acquire Telenet Group Holding NV’s mobile telecommunications tower business (“TowerCo”) for €745 million (cash-free, debt-free). The deal will create Belgium’s first independent TowerCo, giving DigitalBridge ownership of 100% of Telenet’s tower and passive infrastructure assets, with 3,322 sites nationwide.
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- Buyer
- RoadSafe Traffic Systems, Inc.
- Target
- Liddell Bros, Inc., Liddell Leasing, Corp.
- Seller
- Gary Liddell and the Liddell family (owners of Liddell Bros, Inc. and Liddell Leasing, Corp.)
- Industry
- Infrastructure
- Location
- Massachusetts, United States
- Type
- Addon
RoadSafe Traffic Systems, Inc. has acquired Liddell Bros, Inc. and Liddell Leasing, Corp., two Halifax, Massachusetts-based providers of traffic control services, equipment rental and overhead sign installation. The deal expands RoadSafe's New England footprint and strengthens its DOT-facing capabilities as an add-on to its PE-backed platform.
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March 16, 2022
- Buyer
- Inland Pipe Rehabilitation (IPR), J.F. Lehman & Company (JFLCO)
- Target
- Granite Inliner (Inliner) and affiliated companies
- Seller
- Granite Construction Incorporated
- Industry
- Infrastructure
- Location
- Texas, United States
- Type
- Addon
Inland Pipe Rehabilitation (IPR), a portfolio company of J.F. Lehman & Company, has completed the acquisition of Granite Inliner and affiliated companies from Granite Construction Incorporated. The add-on expands IPR's trenchless pipe rehabilitation capabilities (CIPP, UV-cured liners, geopolymer solutions and manhole renewal), adds manufacturing and R&D capabilities, and broadens the combined company's geographic presence across North America.
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- Buyer
- DataBank
- Target
- Four Houston data centers from CyrusOne (including CyrusOne Galleria at 4201 Southwest Freeway and the Houston West Campus: West I, West II, West III)
- Seller
- CyrusOne
- Industry
- Infrastructure
- Location
- Texas, United States
- Type
- Divestiture
DataBank closed its $670 million acquisition of four Houston-area data centers from CyrusOne, adding more than 300,000 square feet of raised-floor capacity and 42.5 megawatts of power. The deal expands DataBank’s U.S. footprint into Houston as its 28th metro, bringing the company’s portfolio to more than 65 facilities and roughly 2.0 million square feet of capacity; TD Securities and CIT (a division of First Citizens Bank) provided underwritten debt financing.
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February 22, 2022
- Buyer
- Macquarie Asset Management, Ontario Teachers' Pension Plan Board, Macquarie Global Infrastructure Fund, Ontario Teachers' Pension Plan Board (Ontario Teachers)
- Target
- Puget Holdings
- Seller
- Canada Pension Plan Investment Board (CPP Investments)
- Industry
- Infrastructure
- Location
- Washington, United States
- Type
- Buyout
Macquarie Asset Management (via the Macquarie Global Infrastructure Fund) and Ontario Teachers' Pension Plan Board agreed to jointly acquire a 31.6% stake in Puget Holdings from CPP Investments. The transaction closed after regulatory approvals, with Macquarie and Ontario Teachers each holding 15.8% after completion.
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February 22, 2022
- Buyer
- Thayer Infrastructure Services, LLC
- Target
- Heartland Solutions Corp.
- Industry
- Infrastructure
- Location
- Indiana, United States
- Type
- Addon
Thayer Infrastructure Services, LLC (TIS) completed the acquisition of Heartland Solutions Corp., a wireless communications construction firm headquartered in Indianapolis, Indiana. Heartland will operate under TIS's American Cell Enterprises operating company as an add-on to expand TIS's wireless and tower services; terms were not disclosed.
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February 17, 2022
- Buyer
- Enterprise Products Partners L.P.
- Target
- Navitas Midstream Partners, LLC
- Seller
- An affiliate of Warburg Pincus LLC
- Industry
- Infrastructure
- Location
- United States
- Type
- Buyout
Enterprise Products Partners L.P. (through an affiliate) agreed to acquire Navitas Midstream Partners, LLC for $3.25 billion in a debt-free, all-cash transaction. The deal gives Enterprise a foothold in natural gas gathering, treating and processing in the core of the Midland Basin of the Permian. Enterprise later announced the acquisition was completed.
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February 16, 2022
- Buyer
- AECOM
- Target
- SLC Rail
- Industry
- Infrastructure
- Location
- West Midlands, United Kingdom
- Type
- Growth capital
AECOM has acquired a 30% equity interest in UK-based SLC Rail to deepen a long-standing working relationship and jointly pursue rail programme, route upgrade and station delivery opportunities across the UK. The minority investment is intended to combine SLC's programme initiation and development strengths with AECOM's global engineering, programme management and station design expertise to accelerate delivery of regional rail enhancements.
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February 15, 2022
- Buyer
- SMC Infrastructure Partners, Turning Rock Partners, IFM Investors
- Target
- General Asphalt Co, LLC
- Seller
- Lopez family (founding family of General Asphalt)
- Industry
- Infrastructure
- Location
- Florida, United States
- Type
- Recapitalization
Turning Rock Partners completed a $25 million investment to support SMC Infrastructure Partners' recapitalization of General Asphalt Co., a Miami-based paving contractor. The transaction was supported by debt funds managed by IFM Investors and aims to expand General Asphalt's capabilities into airport and broader transport infrastructure under SMC's Infra Build Holdings.
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February 15, 2022
- Buyer
- Canopy Capital Partners, LLC
- Target
- Cloud 9 Services, LLC
- Seller
- Rick Fender, Lucy Fender
- Industry
- Infrastructure
- Location
- Florida, United States
- Type
- Buyout
Canopy Capital Partners, a Tampa-based private equity firm, acquired a majority stake in Cloud 9 Services (Orlando), a specialist underground water and sewer infrastructure contractor. The founders Rick and Lucy Fender remain involved while day-to-day operations will be led by promoted President Curtis Walker as Canopy positions Cloud 9 as a platform for growth; the deal closed January 31, 2022.
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