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 February alone, we added more than 1,700 new private company transactions, bringing the total to over 19,000 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: 2/9/2026
- Industry: Professional Services
- Type: Credit
- Transaction Value: $10B
- Participants: Coatue Management, Blackstone Inc
Firmus, an Australian AI infrastructure company, secured a $10 billion debt financing facility led by Blackstone (Tactical Opportunities and Credit & Insurance) and Coatue to fund Project Southgate — a national rollout of its energy-efficient AI Factory platform across Australia, targeting up to 1.6 GW of infrastructure capacity by 2028. The transaction is one of the largest private debt financings in Australian history and will support AI Factory deployment, infrastructure manufacturing, and energy integration to serve hyperscale and AI-native customers globally.
- Transaction Date: 2/12/2026
- Industry: Commercial Services & Supplies
- Type: Buyout/Private Equity
- Transaction Value: $6.6B
- Participants: Platinum Equity, Blackstone Inc, EQT Group, J.P. Morgan Investment Bank, UBS, Morgan Stanley, BBVA Global Wealth Advisors, Inc., Simpson Thacher & Bartlett LLP, Linklaters, Kirkland & Ellis LLP, Uría Menéndez
Platinum Equity has agreed to sell Urbaser, a Madrid-based global municipal and industrial waste management platform serving over 60 million people, to Blackstone and EQT for approximately $6.6 billion — up from the ~$4.2 billion it paid in 2021 following a multi-year transformation that grew revenue by over 60% and EBITDA by 70%.
- Transaction Date: 2/26/2026
- Industry: Professional Services
- Type: Acquisition/Merger
- Transaction Value: $6.6B
- Participants: Morgan Stanley, NCR Atleos Corporation, The Brink's Company, Sidley Austin LLP, King & Spalding LLP, J.P. Morgan Securities LLC
Brink's has agreed to acquire NCR Atleos in a cash-and-stock transaction valued at approximately $6.6 billion (plus assumption of ~$2.6 billion in debt), combining Brink's global cash management infrastructure with NCR Atleos' end-to-end ATM management platform and network of ~78,000 owned-and-operated ATMs. The combined company is expected to generate ~$10 billion in revenue, realize $200 million in annual cost synergies within three years, and be at least 35% accretive to EPS, with closing anticipated in Q1 2027.
- Transaction Date: 2/17/2026
- Industry: Commercial Services & Supplies
- Type: Buyout/Private Equity
- Transaction Value: $2.5B
- Participants: Blackstone Inc, Odyssey Investment Partners, Weil Gotshal & Manges LLP, William Blair Investment Banking, Piper Sandler & Co., Robert W. Baird, Latham & Watkins LLP
Blackstone has agreed to acquire Champions Group, a leading residential home services platform specializing in HVAC, plumbing, and electrical services with over 1,800 field technicians and 150,000 active members, from Odyssey Investment Partners in a deal reported at ~$2.5 billion, with Odyssey and management retaining a significant minority stake. The acquisition aims to accelerate Champions Group's growth as a multi-service residential platform across tier-one markets, with closing expected in H1 2026.
- Transaction Date: 2/11/2026
- Industry: Building Products
- Type: Acquisition/Merger
- Transaction Value: $2.25B
- Participants: QXO Inc, Court Square Capital Partners, Morgan Stanley, Paul, Weiss, Rifkind, Wharton & Garrison LLP, RBC Capital Markets Investment Banking, KeyBank Capital Markets Inc., Dechert LLP, Wells Fargo Advisors
QXO has agreed to acquire Kodiak Building Partners, a national distributor of lumber, trusses, windows, doors, and exterior building products with ~$2.4 billion in 2025 revenues across 110 locations in 26 states, from Court Square Capital Partners for approximately $2.25 billion in cash and stock. The deal, expected to close in early Q2 2026, expands QXO's addressable market to over $200 billion and strengthens its position in high-growth Sun Belt and Mountain state markets as part of its broader strategy to become the tech-enabled leader in building products distribution.
- Transaction Date: 2/17/2026
- Industry: Aerospace & Defense
- Type: Acquisition/Merger
- Transaction Value: $1.5B
- Participants: JFB Construction Holdings, Xtend, Stifel Investment Banking, Paul Hastings LLP, Meitar Law, Banai Azriel Stern, H-F & Co., Sichenzia Ross Ference LLP, Amit, Pollak, Matalon & Co.
Nasdaq-listed JFB Construction Holdings has agreed to combine with XTEND, an AI-driven autonomous defense robotics company, in an all-stock transaction implying a $1.5 billion valuation, with the combined entity to be renamed XTEND AI Robotics and listed under "XTND." The deal pairs XTEND's battle-proven XOS autonomous operating system — deployed across 10,000+ systems globally across air, ground, and maritime domains — with JFB's US manufacturing and infrastructure capabilities, with closing expected mid-2026.
- Transaction Date: 2/2/2026
- Industry: Building Products
- Type: Acquisition/Merger
- Transaction Value: $1.335B
- Participants: Rothschild & Co., Gibraltar Industries Inc, Strategic Value Partners, Perella Weinberg Partners LP, BofA Securities, Inc., Wachtell, Lipton, Rosen & Katz, Paul, Weiss, Rifkind, Wharton & Garrison LLP
Gibraltar Industries completed its acquisition of OmniMax International, a leading manufacturer of residential roofing accessories and rainware products (brands including Amerimax and Berger) with ~$565 million in 2025 net sales, from Strategic Value Partners for $1.335 billion. The deal, financed through new term loan facilities, is expected to be immediately EBITDA-accretive, deliver $35 million in cost synergies by end of 2028, and grow Gibraltar's residential segment to over 80% of total revenue.
- Transaction Date: 2/5/2026
- Industry: Construction & Engineering
- Type: Acquisition/Merger
- Equity Investment: $1.194B
- Participants: Heidelberg Materials AG, Heidelberg Materials Australia Group Pty Ltd, MAAS Group Holdings Limited
Maas Group Holdings has agreed to divest its Construction Materials division — comprising 40 quarries with 350+ million tons of reserves, 22 ready-mixed concrete plants, and two asphalt operations across New South Wales, Queensland, and Victoria — to Heidelberg Materials Australia for up to AUD 1.703 billion (including $120 million in contingent consideration), implying an 8.4x EBITDA multiple post-synergies. Completion is expected in H2 2026, subject to ACCC and FIRB regulatory approvals and MGH shareholder consent.
- Transaction Date: 2/18/2026
- Industry: Professional Services
- Type: Venture
- Transaction Value: $1B
- Participants: AMD Ventures, Emerson Collective LLC, Fidelity Institutional Asset Management, NVentures, Sea Limited
World Labs raised $1 billion in new funding from a group of strategic and institutional investors including AMD, NVIDIA, Autodesk, Fidelity, and Emerson Collective, to accelerate development of its spatial intelligence platform and world models. The company's first product, Marble, allows users to generate persistent, high-fidelity 3D worlds from images, video, or text.
- Transaction Date: 2/11/2026
- Industry: Ground Transportation
- Type: Acquisition/Merger
- Transaction Value: $960M
- Participants: Milbank LLP, EQT Group, Wabtec Corporation, J.P. Morgan Securities LLC, Vinge, Ernst & Young Global Limited
Wabtec completed its acquisition of Dellner Couplers, a Sweden-based global leader in safety-critical train connection systems with an installed base of ~100,000 couplers and 12,500 gangways across 200+ customers in 13 countries, from EQT VIII for approximately €890 million. The deal strengthens Wabtec's Transit segment with Dellner's 85-year legacy in couplers, gangways, and aftermarket services for the passenger rail market.
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.
