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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 August alone, we added more than 2,000 new private company transactions, bringing the total to over 30,000+ searchable deals across sectors, industries, and transaction types in Dakota Private Markets
Inside Dakota Private Markets, 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’s team 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.
SLB will acquire Kelvion, a thermal management and heat exchange technology provider, from Apollo-managed funds (majority owner) and Triton (minority holder), for approximately $3.4 billion in cash plus assumption of ~$0.7 billion in debt — a total transaction value of roughly $4.1 billion, or about 11x estimated 2026 EBITDA before synergies. The acquisition expands SLB's Data Center Solutions business and addressable market as AI infrastructure demand grows, with Kelvion expected to generate $2.3–2.4 billion in 2026 revenue. The deal is subject to customary closing conditions and regulatory approvals, with close expected in the first half of 2027.
nVent Electric will acquire Maverick Power, a manufacturer of engineered power distribution and infrastructure solutions for data centers, for a total potential consideration of up to $2.3 billion — a $1.75 billion base purchase price plus up to $550 million in earnout payments tied to 2027–2028 performance metrics. The deal strengthens nVent's position in the data center infrastructure vertical, adding a power distribution platform that complements its existing offerings, and is expected to be accretive to adjusted EPS in the first year post-close. The transaction values Maverick at roughly 11.5x anticipated 2026 adjusted EBITDA and is expected to close in Q4 2026, subject to customary closing conditions and regulatory approval.
This $1.37 billion Series D, which values the company at $7.87 billion, is a significant outlier in size for hardware/industrials, and the scale of capital raised should support a runway well beyond the typical 24–30 month window for the sector, likely extending 36+ months given the stated multi-site factory buildout and R&D expansion plans. Next raise (if needed at all in the near term) is more likely tied to major capacity milestones — new factory openings or program wins in munitions/autonomous systems — than a fixed timeline, plausibly pushing any follow-on into 2028 or beyond.
Partners Group has agreed to acquire a majority stake in AVK Power Solutions, a UK-based provider of data center power solutions across Europe, with an initial equity investment of over $1 billion supplemented by debt financing; AVK management retains a minority stake, and deal terms/valuation were not disclosed. The investment is aimed at transforming AVK into a long-term Energy-as-a-Service infrastructure platform, building and owning power assets under contracted offtake agreements with data center operators, leveraging AVK's roughly 3.5 GW installed capacity and 2+ GW pipeline of behind-the-meter opportunities. No closing timeline or regulatory conditions were specified in the announcement.
This $900M+ raise at a $6.3B+ post-money valuation is a significant outlier in size for a Series A, and given the stated plans for mass production facilities and global commercial expansion, runway likely extends well beyond the typical 24–30 month hardware/industrials window — plausibly 30–36+ months given the scale of capital. Next raise is more likely tied to commercial deployment milestones (IRON's 2027 launch and delivery ramp in China and overseas) than a fixed timeline, potentially pushing follow-on fundraising into 2028.
Want to track industrial deal activity like this as it happens? Explore the full transactions tab in Dakota Private Markets for real-time, filterable data on every deal in this sector.
This $1 billion Series C ($800M equity plus a $250M credit facility) is a substantial outlier in size for the hardware/defense sector, and combined with existing U.S. military contract revenue, runway likely extends well beyond the typical 24–30 month window — plausibly 36+ months given the stated scope of manufacturing expansion, new weapons system development, and defensive systems R&D. Next raise is more likely tied to production-rate milestones or additional program-of-record contracts than a fixed timeline, potentially pushing follow-on fundraising into 2028 or later.
This RMB 4.5 billion (~$630 million) raise is a substantial outlier in size for the hardware/robotics sector, though funding round stage and valuation were not disclosed. Given the scale of capital and the stated focus on R&D and talent buildout ahead of real-world deployment, runway likely extends beyond the typical 24–30 month window—plausibly 30+ months—with the next raise more likely tied to commercialization milestones than a fixed timeline.
Joby Aviation will acquire Resonant Sciences, a Dayton, Ohio-based defense technology company specializing in RF sensing, mission systems, and low-observability technologies, for approximately $500 million, funded with $450 million in cash and $50 million in Joby common stock (price fixed at signing). The acquisition gives Joby immediate scale in defense through an EBITDA-positive business with over $100 million in trailing revenue (up ~40% year-over-year), established classified infrastructure, and long-standing U.S. national security customer relationships; Resonant will operate as Joby's dedicated defense business unit, consolidating Joby's existing dual-use autonomy and propulsion initiatives. The transaction is expected to close in the first half of 2027, subject to customary closing conditions including regulatory review.
Clean Harbors will acquire EnviroServe, a national environmental and waste management services provider, from an affiliate of One Rock Capital Partners for $470 million in cash, funded through available cash and additional debt financing. The deal expands Clean Harbors' Technical Services and Field Services businesses with EnviroServe's 40-location network, 18 10-day transfer facilities, and recurring customer base (85% recurring revenue, ~2,500 customers), and is expected to generate approximately $25 million in cost synergies over two years, bringing the post-synergy multiple to roughly 9x EnviroServe's ~$27 million adjusted EBITDA. The transaction is expected to close in the second half of 2026, subject to regulatory approval and other customary closing conditions.
Graco has completed its acquisition of Valco Melton, a global provider of adhesive application and quality assurance systems used primarily in packaging and industrial manufacturing, for $447 million in cash — approximately 14x 2025 adjusted EBITDA, or roughly 10x 2026 estimated synergy-adjusted EBITDA when accounting for ~$40 million in expected tax benefits. Valco Melton, which generated approximately $145 million in revenue in 2025 across more than 80 countries, will join Graco's Industrial segment, expanding Graco's precision adhesive dispensing and quality assurance capabilities. The transaction has already closed, with no further conditions outstanding.
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 Private Markets, 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 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, request access to Dakota Private Markets.