February 2, 2026

Mergers & Acquisitions in Transport, Infrastructure, & Construction – Summer-Winter 2025

Mace Consult

Following on the news of Goldman Sachs’ acquisition of amajority interest in Mace Consult, the business has confirmed the purchase ofTurton Bond, an independent US-based cost consultancy and project managementfirm. The transaction forms part of a broader strategy to accelerate MaceConsult’s expansion across the US market.

The addition of Turton Bond significantly enhances capacity,adding around 50 employees across offices in New York, Houston, San Francisco,and Los Angeles.

 

Turner & Townsend

Have announced the acquisition of Egyptian constructionconsultancy firm, ValueMetric. With this acquisition, 20 members of staff willbecome part of the company, catalysing Turner & Townsend’s entry into theEgyptian market.

They have also announced plans to acquire leadingpan-African real estate project management firm based in South-Africa, Profica.The acquisition is a key step in Turner & Townsend’s continental expansion,uniting two complementary businesses to establish Africa’s leading real estateproject management consultancy.

 

DSV / Schenker

Have met the requirements for the c€14.3bn acquisition ofSchenker from Deutsch Bahn, positioning themselves as a significantworld-leading player in the transport and logistics industry. The acquisitionwill see a combined company revenue of c€41.6 billion and a workforce ofc160,000 employees across more than 90 countries, doubling the size of thecompany.

 

Sisk / Farrans

Two major Irish construction companies, Farrans Constructionand Sisk, are to combine following the acquisition of Farrans Construction bySisk. Farrans Construction will continue to trade under their brand, and allproject operations will continue without change.

 

Arriva Group / RTS

Have acquired UK train maintenance, depot design/build, andrail infrastructure construction business, RTS Infrastructure Services Limited.The acquisition builds on the company’s existing portfolio of businesses withinArriva UK Trains.

 

London City Airport

Macquarie Asset Management has entered into an agreement toacquire a further 50% interest in London City Airport, bringing its total staketo 75%.

 

Freightliner Intermodal

Global player in sea, land, air, and logistics solutions,the CMA CGM Group, have announced the acquisition of Freightliner Intermodal,expected to be complete in early 2026. This transaction includes owning theFreightliner brand, rail & road operations, and inland terminals,reinforcing the company’s initiative to establish a sustainable and competitivetransport offering across Europe.

 

Cumming Group

Project Management and Advisory Services company, LeftField,has now become part of Cumming Group. This merger doubles Cumming Group’s sizein the region of the Northeast of the US, strengthening its ability to serveboth public and private clients.

 

RSK Group / Octavius Infrastructure

Strengthens its presence within the UK TransportInfrastructure sector with the strategic acquisition of Octavius Infrastructurefrom Sullivan Street Partners. John Dowsett, Octavius CEO comments that thecompany will “retain our proud Octavius brand and maintain a strong level ofautonomy, while enjoying a wealth of support from the considerable expertisewithin the RSK Group”.

 

FirstGroup plc

Acquires RATP Dev’s sightseeing operations in London andBath. Branded as Tootbus, the acquisition enhances FirstGroup’s presence acrossLondon and the south-west of England.

 

East West Railway Company

Could become an independent entity of Network Rail upon theformation of the Government’s nationalisation of UK rail through Great BritishRailways (GBR).

 

Beacon Rail / Eversholt Rail

The UK Competition and Markets Authority is reviewing BeaconRail’s proposed acquisition of Eversholt Rail. Eversholt Rail has indicatedthat it expects to receive regulatory approval for the transaction in Q1 2026.

 

Centrica plc / Energy Capital Partners / National Grid

Centrica, in partnership with Energy Capital Partners (ECP),has announced the completion of the acquisition of the Grain LNG terminal fromNational Grid, at an enterprise value of £1.5 billion. Centrica’s 50% equitystake represents an investment of approximately £200 million, reflecting theassumption of £1.1 billion in new non-recourse project finance debt.

 

Carlyle / Altera Infrastructure

Global investment firm Carlyle has entered into an agreementto purchase an FPSO (Floating Production, Storage and Offloading) platformbusiness from Altera Infrastructure Group, the offshore energy infrastructurecompany backed by Brookfield Asset Management’s private equity arm. The equitycomponent of the transaction will be funded through Carlyle InternationalEnergy Partners, the firm’s energy-focused private equity vehicle.

 

OCU Group

Further expands into the UK energy transition market withthe acquisition of Valmesh, a mechanical engineering services provider. Thisacquisition is said to boost OCU’s presence within the UK energy transitionmarket, whilst also providing opportunity for growth internationally.

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