Mergers Acquisitions

Columbus, Ohio – October 13, 2026 -- Vertiv Holdings Co. has agreed to acquire microgrid specialist Utility Innovation Holdings, operating as UtilityInnovation Group (UIG), for about $1.45 billion in cash at closing, plus up to $1.15 billion in additional cash tied to EBITDA targets over 12- and 24-month periods.

Vertiv's wholly-owned subsidiary, Vertiv Corporation, signed the merger agreement. If the full earnout is paid, total consideration could reach $2.6 billion.

Vertiv prices UIG at about 13x expected 2027 EBITDA

At the $1.45 billion upfront price, the deal values UIG at roughly 13x its expected 2027 EBITDA. Vertiv expects that multiple to be significantly lower if the full earnout is paid. The company expects the acquisition to be accretive to adjusted earnings per share in the first year after completion.

Los Angeles – October 13, 2026 -- R&S Holdings, a Maryland-based behavioral health organization, has acquired Innovo Detox, a Pennsylvania provider of substance use disorder (SUD) treatment and drug and alcohol rehabilitation services, in a transaction advised by M&A Healthcare Advisors (MAHA). Financial terms were not disclosed.

MAHA served as exclusive sell-side advisor on an accelerated timeline

MAHA, a FINRA-licensed investment bank focused on healthcare, represented Innovo exclusively. Managing Director Andre Ulloa and Senior Associate Mike Abud led the engagement.

The deal required structuring as a clean, standalone acquisition. MAHA coordinated the diligence process and worked with legal counsel on both sides to keep the transaction moving, and it closed on an accelerated timeline.

Pittsburgh – October 13, 2026 -- STERIS, a roughly $6 billion-revenue infection prevention provider with 18,000 Associates, has agreed to acquire Pittsburgh-area surgical safety specialist Xodus Medical, adding a portfolio of operating room consumables.

Financial terms were not disclosed in the announcement.

STERIS Targets Double-Digit Growth in Specialty Surgical Products

STERIS President and CEO Dan Carestio said Xodus Medical's portfolio complements and expands the STERIS offering, particularly through consumables used in the operating room. He said the business has demonstrated an ability to grow at double-digit rates, supported by a specialty product portfolio, a steady stream of new products and a highly effective commercial team.

Carestio said the combined company aims to enhance service to customers and create value for STERIS shareholders.

Council Bluffs – October 13, 2026 -- Southwest Iowa Renewable Energy, LLC (SIRE), a farmer-owned ethanol producer, has acquired GreenAmerica Biofuels Ord LLC, lifting its combined capacity to approximately 230 million gallons of ethanol per year across two plants in Iowa and Nebraska.

The seller is Pilot Travel Centers LLC, which owned GreenAmerica Biofuels Ord LLC as a subsidiary. The target operates an approximately 70 million-gallon-per-year ethanol plant in Ord, Nebraska. The transaction closed October 13, 2026. Financial terms have not been disclosed and remain confidential.

San Francisco – October 13, 2026 -- PayJoy, which serves more than 20 million customers across nine countries, has acquired select strategic assets of Finia AI, Inc., a venture-backed fintech that built AI underwriting for micro-businesses in Mexico. The announcement did not state a price.

PayJoy to apply Finia's underwriting technology across its global platform

The deal lets PayJoy use Finia's technology and expertise to strengthen its underwriting and widen its product range for customers with limited access to formal credit. PayJoy operates in Latin America, Africa and Asia, offering digitally secured smartphone financing, credit lines and the PayJoy Card. It has financed more than $3.5 billion of loans and employs more than 1,000 people.

LONDON – October 12, 2026 -- Constellation Cold Logistics has acquired Norwegian cold storage operator Impruv Logistics AS, adding 25,000 temperature-controlled pallet positions and lifting its capacity in Norway to 90,000.

Impruv's Langangen site extends Constellation's Nordic platform

Impruv operates a newly developed facility in Langangen, near Porsgrunn in Southern Norway. The site is positioned to serve food producers, importers and distributors across the region, and the business also brings a strong transport presence. Financial terms were not disclosed.

Impruv was founded by food logistics, warehousing and supply chain professionals. According to Chairman Bernt Ove Søvik, the company opened in mid-December 2025 and built its offering around proprietary IT solutions designed to give partners a competitive edge.

Stockholm – October 12, 2026 -- Sandvik has acquired Mastercam India and select assets of CAD/CAM CONSULTING SERVICES INC. (CCCS), two long-standing Mastercam channel partners that together generated net annual revenue of around SEK 120 million in 2025.

Both companies will join the Mastercam business unit and report within the Intelligent Manufacturing business area. The deals follow a series of similar acquisitions Sandvik has made in recent years and are intended to strengthen local capabilities and widen its sales network across regions.

Mastercam India adds 41 employees and SEK 81 million in revenue

Mastercam India is headquartered in Pune, India. It employs 41 people and recorded net annual revenue of around SEK 81 million in 2025.

CCCS contributes 14 employees and SEK 39 million in revenue

CCCS is headquartered in California, US, and has 14 employees. Its net annual revenue was around SEK 39 million in 2025.

Genoa – – October 09, 2026 -- Midea Group has completed the acquisition of a controlling stake in Esaote S.p.A., the Italian medical imaging maker that posted fiscal 2025 revenues of EUR 267 million, 70% of them from international markets.

Esaote joins Midea Healthcare as an independent company

Esaote becomes part of Midea's Healthcare Division but will continue to operate as an independent global medical equipment company. It stays headquartered in Genoa, with R&D and manufacturing facilities in Italy and the Netherlands. Franco Fontana remains CEO, confirmed by the new shareholders.

Midea's DR, MRI, CT and DSA lines meet Esaote's ultrasound and open MRI strengths

Midea's portfolio covers DR, high-field MRI, CT and DSA. Esaote contributes premium-brand strengths in ultrasound, open and dedicated MRI systems and medical IT solutions. Esaote ranks among the top ten global manufacturers of ultrasound and of open and dedicated MRI.

Houston – October 08, 2026 -- Drilling Tools International Corp. (NASDAQ: DTI) has signed a definitive agreement to acquire Aberdeen-based Saltire Energy Limited and Foxley Energy Limited for approximately $80 million in cash plus 17.4 million shares of DTI common stock, a deal expected to close in the first quarter of 2027.

Acquisition nearly doubles DTI's international revenue exposure

The transaction will lift DTI's Eastern Hemisphere contribution from roughly 18% of standalone revenue in the second quarter of 2026 to approximately 40% of pro forma revenue post-close. Saltire, founded in 1986, operates rental fleets of drilling tubulars, downhole tools and pressure control equipment across the North Sea, Norway, the United Arab Emirates, Singapore and Malaysia, serving Tier 1 E&P operators and drilling contractors.

Austin, Texas – October 07, 2026 -- Critical Materials Group (CMG) has acquired Rocky Mountain Scientific Laboratory (RMSL), merging a national security energetics research lab with a domestic munitions manufacturing platform under one corporate entity. Financial terms of the deal were not disclosed.

Swanson moves from RMSL CEO to CMG Chief Science Officer

Travis Swanson, CEO and Co-Founder of RMSL, will now serve as Chief Science Officer at CMG. Swanson had co-founded CMG while simultaneously leading RMSL, a lab focused on rapid energetics solutions for military and law enforcement agencies, before the two organizations formally combined.