For deal sourcers, staying current on private company activity is critical to spotting active buyers, tracking market trends, and uncovering emerging investment opportunities ahead of competitors.
In December alone, we added more than 2,500 new private company transactions, bringing the total to over 16,000 searchable deals across sectors, industries, and transaction types in Dakota Marketplace.
Inside Dakota Marketplace, you’ll find the transactions tab that provides structured, filterable data on deal types, values, and dates, while our editorial team curates daily updates through the Dakota transactions newsletter, helping you cut through the noise and focus on what matters most.
To ensure the most comprehensive coverage of private market activity, Dakota monitors over 10,000 websites including company websites, newswires, and numerous third-party news providers to capture and verify transaction data as it happens.
Below are the top 10 industrial transactions.
- Transaction Date: 12/5/2025
- Industry: Machinery
- Type: Acquisition/Merger
- Transaction Value: $4.775B
- Participants: Paul Hastings LLP, ITT Inc, Lone Star Funds, Hudson Advisors, Spitfire Capital, Goldman Sachs & Co. LLC, UBS Asset Management, Citi Group Investment Banking, Jefferies Investment Banking
ITT agreed to acquire SPX FLOW from Lone Star for $4.8 billion, adding $1.3 billion of high-margin revenue and significantly expanding its Industrial Process segment with leading flow and process technologies and a strong aftermarket mix. The deal is expected to deliver $80 million of cost synergies, be immediately margin accretive, and drive double-digit adjusted EPS accretion in the first full year post-close.
- Transaction Date: 12/15/2025
- Industry: Construction & Engineering
- Type: Acquisition/Merger
- Transaction Value: $3.3B
- Participants: WSP Global Inc, Warburg Pincus, Energy Impact Partners, J.P. Morgan Investment Bank, CIBC Capital Markets, Skadden, Arps, Slate, Meagher & Flom LLP, Stikeman Elliott LLP, Harris Williams & Co., UBS, AEC Advisors LLC, Paul, Weiss, Rifkind, Wharton & Garrison LLP, Houlihan Lokey Inc
WSP agreed to acquire TRC for US$3.3 billion in cash, creating the largest engineering and design firm in the U.S. and establishing the #1 Power & Energy platform with roughly 27,000 U.S. employees and a significantly expanded advisory, program management, and digital offering. The transaction is expected to be low- to mid-single-digit accretive to adjusted EPS initially and high-single-digit accretive once synergies are realized, while accelerating WSP’s organic growth and deepening its exposure to the high-growth Power & Energy sector.
- Transaction Date: 12/3/2025
- Industry: Aerospace & Defense
- Type: Carve-Out / Private Equity
- Transaction Value: $2.7B
- Participants: Latham & Watkins LLP, Barclays Investment Bank, CVC, Smiths Group plc
CVC agreed to acquire Smiths Detection from Smiths Group for £2.0 billion, carving out a global leader in threat-detection and security-screening technologies with the #1 position in aviation security and a strong presence across critical infrastructure and defense end markets. The transaction positions Smiths Detection to accelerate growth and value creation as an independent platform, supported by CVC’s carve-out expertise and focus on technology innovation and aftermarket services.
- Transaction Date: 12/22/2025
- Industry: Aerospace & Defense
- Type: Acquisition/Merger
- Transaction Value: $2.6B
- Participants: CACI International Inc, Blackstone Inc, Wells Fargo Advisors, Gibson Dunn & Crutcher LLP, J.P. Morgan Securities LLC, Simpson Thacher & Bartlett LLP
CACI agreed to acquire ARKA Group from Blackstone for $2.6 billion in an all-cash transaction, expanding its space-based sensing, software, and actionable intelligence capabilities for national security customers. The deal strengthens CACI’s position in the fast-growing space domain and is expected to drive long-term free cash flow growth, supported by a $225 million present-value tax benefit.
- Transaction Date: 12/16/2025
- Industry: Marine Transportation
- Type: Add-On / Bolt-On Acquisition
- Transaction Value: $1.75B
- Participants: Textainer, Bohai Leasing Co Ltd, Stonepeak Infrastructure Partners, BofA Securities, Inc., Simpson Thacher & Bartlett LLP, Deutsche Bank Securities, Hogan Lovells US LLP
Stonepeak-controlled Typewriter Ascend Ltd, an affiliate of Textainer, completed the acquisition of Seaco, creating the world’s largest container leasing platform with a combined fleet of approximately 8.3 million CEUs. The transaction strengthens Textainer’s position as a leading global provider of marine container leasing, enhancing scale, diversification, and service capabilities for customers worldwide.
- Transaction Date: 12/10/2025
- Industry: Professional Services
- Type: Buyout/Private Equity
- Transaction Value: $1.3B
- Participants: Advent International Corporation, Corvex Management, Heidrick & Struggles International, Inc., BofA Securities, Inc., Paul Hastings LLP, William Blair Investment Banking, Deutsche Bank Securities, UBS Asset Management, Weil Gotshal & Manges LLP, Ropes & Gray LLP
A consortium led by Advent International and Corvex Private Equity acquired Heidrick & Struggles in an all-cash take-private transaction valuing the company at approximately $1.3 billion, ending its public listing and returning it to private ownership. The deal provides a platform to accelerate multi-year growth in executive search and leadership advisory services, supported by significant co-investment from management and partners and enhanced equity participation for current and future leaders.
- Transaction Date: 12/22/2025
- Industry: Commercial Services & Supplies
- Type: Partial Divestiture / Minority Stake Sale
- Transaction Value: $1.1B
- Participants: FCC Servicios Medio Ambiente, Canada Pension Plan Investment Board, Freshfields Bruckhaus Deringer LLP
FCC completed the sale of an additional 25% stake in its environmental services unit, FCC Enviro, to CPP Investments for €1.0 billion, increasing CPP Investments’ ownership to 49.99% while FCC retains a 50.01% controlling stake. The transaction deepens CPP Investments’ partnership in a global environmental services platform serving over 78 million people and provides FCC with capital to fund strategic opportunities while maintaining FCC Enviro’s existing strategy and management.
- Transaction Date: 12/11/2025
- Industry: Professional Services
- Type: Strategic Partnership / Minority Investment
- Equity Investment: $1B
- Participants: OpenAI, The Walt Disney Company
Disney entered into a three-year strategic licensing and partnership agreement with OpenAI, becoming the first major content partner on Sora and enabling AI-generated short-form videos using more than 200 characters across Disney, Marvel, Pixar, and Star Wars. The agreement also makes Disney a major OpenAI customer and includes a $1.0 billion equity investment with warrants, aligning the companies around responsible AI use and new AI-powered storytelling experiences.
- Transaction Date: 12/1/2025
- Industry: Machinery
- Type: Carve-Out / Private Equity
- Transaction Value: $900M
- Participants: Brookfield l Oaktree, Guangdong Dongfang Precision Science & Technology Co., Ltd
Brookfield agreed to acquire Fosber, a global leader in corrugating machinery and services, in a carve-out transaction valued at approximately $900 million from Guangdong Dongfang Precision. The deal positions Fosber to accelerate global growth, digital transformation, and expansion of its high-margin aftermarket offerings with support from Brookfield’s industrial and operational expertise.
- Transaction Date: 12/1/2025
- Industry: Energy Services
- Type: Acquisition/Merger
- Transaction Value: $860M
- Participants: USA Compression Partners LP, J-W Power Company, Wells Fargo Advisors, Sidley Austin LLP, Jefferies Prime Brokerage, Jackson Walker LLP
USA Compression Partners agreed to acquire J-W Power Company for approximately $860 million, significantly expanding its natural gas compression fleet to about 4.4 million active horsepower and enhancing geographic and customer diversification across key U.S. basins. The transaction is expected to be meaningfully accretive to distributable cash flow, accelerate deleveraging, and strengthen USAC’s leadership in mid-to-large horsepower compression services.
Transactions in Dakota Marketplace
At Dakota, we understand how important it is to stay current on deal activity as it happens. That’s why our editorial team continuously monitors the news for real-time updates on platform investments, add-ons, divestitures, and more to deliver daily highlights straight to your inbox through our transactions newsletter.
Inside Dakota Marketplace, the transactions tab provides structured, filterable data with deal dates, types, sectors, and financials, allowing you to build a customized feed that aligns with your focus areas.
Whether you're evaluating a new investment opportunity or tracking trends within a target sector, Dakota Marketplace helps you cut through the noise and focus on what matters most.
For more information on these transactions and a deeper dive into their industries and sub-industries, book a demo of Dakota Marketplace.
