Update: Infrastructure M&A Update – February, 2026

February, 2026

For 2025, the median transaction value in Infrastructure was $60 million. For 2025, strategic buyers accounted for 84% of transactions.

 

Select recent notable publicly announced M&A transactions:

– Alphabet announced its acquisition of Intersect Power for $4.8 billion in December 2025.

– Exxon Mobil Corporation closed its acquisition of Bahia Natural Gas Liquids Pipeline for $650 million in November 2025.

– IES Holdings closed its acquisition of Gulf Island Fabrication for $205 million in November 2025.

– American Water Works Company announced its acquisition of Essential Utilities for $20.2 billion in October 2025.

– Berkshire Hathaway closed its acquisition of Occidental Chemical Corporation for $9.7 billion in October 2025.

 

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