Distribution, Manufacturing, and Defense Drive August 2025 Industrials Transactions

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In August, industrial transactions totaled $21B+ across 170+ deals, led by large-scale consolidation in building materials, industrial gases, and critical infrastructure services.

Key Insights:

  • Building Materials Consolidation: Lowe’s $8.8B acquisition of Foundation Building Materials underscored intensifying competition in distribution.
  • Industrial Gases Expansion: Air Liquide’s $3.1B purchase of DIG Airgas reinforced its leadership in welding and specialty gases.
  • Data Center Adjacency: Apollo’s $2.3B buyout of Kelvion highlighted investor interest in thermal management for hyperscale infrastructure.
  • Rail Infrastructure Scale-Up: FTAI’s $1.1B acquisition of The Wheeling Corporation expanded its freight rail network across the Midwest.
  • Defense Connectivity: Amphenol’s $1B acquisition of Trexon strengthened its mission-critical aerospace and defense offerings.

Download the full August 2025 Industrial Transactions Report Here! 

Written By: Dakota Research