NOTABLE TRANSACTIONS | Q3 2025
Quanta Services, Inc., an industry leader in providing specialized infrastructure solutions to the utility, renewable energy, technology, communications, pipeline and energy industries, acquired Dynamic Systems, a premier, turnkey mechanical and process infrastructure solutions provider. The transaction strengthens Quanta’s craft-led critical path capabilities and front-end services for the growing technology, manufacturing, and other load center markets.
Thorpe Specialty Services, an industrial services company headquartered in Houston, Texas, providing maintenance, engineering, and specialty services in high-temperature, corrosive, and challenging environments, has acquired Williams Refractory Services, Inc., a Missouri-based provider of refractory maintenance and installation services for industrial clients in the cement, power, and related markets. The transaction expands Thorpe’s geographic reach into the Midwest and strengthens its refractory capabilities, complementing its existing corrosion and plant maintenance services. Backed by KLH Capital, this marks Thorpe’s third strategic acquisition. Ariel Alternatives, in partnership with JPMorgan Chase & Co., has acquired Groome Industrial Service Group from Argosy Private Equity. Groome, a 55-year-old specialty maintenance provider with about 900 employees across 20 U.S. locations, serves the power generation, heavy industrial, and municipal sectors. Ariel plans to leverage Groome’s patented technologies and strong market presence to capture growth opportunities driven by rising energy demand, AI-driven data center expansion, and an aging power infrastructure.
Atlas Copco Group, a Swedish multinational industrial company that provides compressors, vacuum solutions, generators, pumps, power tools, and assembly systems to customers worldwide, has acquired National Tank & Equipment, a Texas-based company that rents and sells specialty liquid-handling equipment, including tanks, pumps, and related solutions, to industrial and energy markets across the United States. The acquisition marks the company’s entry into the U.S. specialty dewatering market.
Relevant Industrial, a Houston-based distributor of valves, instruments, and automation equipment, has acquired Minnesota-based Lindberg Process Equipment, a provider of industrial heating and combustion systems. Lindberg’s operations will be integrated into Relevant’s Twin Cities facility. The acquisition expands Relevant’s presence in the Midwest and adds new thermal and heating capabilities to its portfolio.
BCP, a services and infrastructure-focused private equity management firm, has acquired Brown & Root Industrial Services, a provider of non-discretionary, specialty industrial services The acquisition expands Brown & Root’s footprint, strengthened their workforce, and enhances the services provided to their clients.
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