26North Partners LP has entered into a definitive agreement to acquire MEI Industrial Solutions, a national provider of critical equipment services for data centers, advanced manufacturing facilities, and other industrial operations, from Olympus Partners.
The acquisition will support MEI’s continued expansion as demand increases for specialized equipment transportation, rigging, installation, industrial storage, and logistics services across the United States.
MEI manages the movement and installation of large, high-value industrial equipment, overseeing the process from the manufacturer’s facility through storage, transportation, and final placement at customer sites.
The company operates 30 locations and 90 storage facilities, representing approximately 10 million square feet of industrial storage capacity. MEI employs nearly 2,500 people nationwide and serves customers operating technologically advanced and mission-critical facilities.
Its services are especially important for industries where moving and installing specialized machinery require technical expertise, precision, and strict safety standards.
MEI’s crews install power and cooling equipment inside hyperscale data centers, position precision manufacturing tools in semiconductor fabrication facilities, and deploy production lines for battery manufacturing and pharmaceutical operations.
The company also supports aerospace, defense, and space programs by transporting and installing heavy machinery for sophisticated manufacturing and production environments.
Demand for these services is rising as companies invest in AI infrastructure, expand domestic manufacturing capacity, and build increasingly complex industrial facilities.
The construction of hyperscale data centers, for example, requires the delivery and installation of large electrical transformers, cooling systems, and other infrastructure components that must be positioned precisely to support operations.
Similarly, semiconductor manufacturing facilities and advanced production plants depend on specialized equipment installation services to bring sophisticated machinery into operation safely and efficiently.
26North believes these trends create opportunities for MEI to expand its geographic footprint, strengthen its workforce, and broaden its services to additional customers.
MEI is led by Chief Executive Officer Doug Dayton, who joined the company in 2023 after spending 16 years in president and CEO positions at PSI and Eurofins USA.
Under Dayton’s leadership, MEI has expanded its operating footprint, workforce, and service offerings while maintaining a strong safety record.
The company’s management team will continue leading the business as it enters its next phase of growth under 26North’s ownership.
26North plans to support MEI through its Alpha Creation Team, which will work alongside company leadership to identify and execute investments in workforce development, equipment, operational capabilities, and training.
These initiatives are intended to strengthen MEI’s ability to support customers undertaking increasingly large and technically demanding projects across multiple locations.
The acquisition also provides 26North with exposure to businesses supporting the expansion of artificial intelligence infrastructure, domestic industrial capacity, and advanced manufacturing.
An important component of MEI’s business model is its ability to maintain long-term customer relationships beyond the initial installation of equipment.
As industrial facilities expand or modernize, customers frequently require machinery upgrades, retrofits, relocations, and additional installation services. MEI’s familiarity with existing equipment and facilities positions the company to support these recurring requirements.
This ongoing customer engagement provides opportunities for repeat business as companies increase production capacity, adopt new technologies, and modify existing operations.
Following completion of the acquisition, MEI will join 26North’s private equity portfolio, which includes ArchKey Solutions, AVI-SPL, Bruin Capital, Composition Brands, Intermedia Intelligent Communications, NEP Group, and Onelife Fitness.
Founded in 2022 by Josh Harris, 26North is an integrated investment platform managing approximately $38 billion across private equity, private credit, insurance, and reinsurance strategies.
The firm’s investment approach focuses on providing capital and operational resources to businesses operating in established and growing markets.
The acquisition of MEI reflects 26North’s interest in companies providing essential services to industries undergoing significant infrastructure investment and technological transformation.
The transaction is expected to close in the fourth quarter of 2026, subject to customary closing conditions and regulatory approvals.
Support: Jefferies LLC is serving as financial advisor to 26North, while Lazard is advising MEI.
KEY QUOTES:
“Whether it’s a transformer for an AI campus or a production line for Navy submarines, the equipment has to be stored, moved and installed safely and precisely. MEI has spent more than three decades delivering services where there is no margin for error. This investment reflects our approach of backing companies that form the backbone of fast-growing industries, and we believe our platform can help MEI extend its leadership.”
Mark Weinberg, Senior Partner And Head Of Private Equity At 26North
“MEI’s ability to deliver a truly differentiated, mission-critical service is rooted in its people: highly skilled riggers and technicians with the expertise to transport, install and operationalize some of the most complex systems across the country. We’re thrilled to invest alongside management to deepen that talent base, expand MEI’s geographic reach and bring its specialized capabilities to an even broader set of customers.”
Derek Whang, Private Equity Partner At 26North
“Our customers are building bigger and faster, often in several states at once, and they want one company accountable for their equipment from the factory floor to the final set. That’s what our people deliver every day, with a safety record we’re proud of. 26North understands the industries we serve and the people who do this work, and that made it the right choice for our next chapter. We’re grateful to Olympus for its partnership.”
Doug Dayton, Chief Executive Officer Of MEI Industrial Solutions
“Once MEI installs a piece of equipment, the relationship is just getting started. As capacity needs climb and technology evolves, that equipment gets upgraded, retrofitted and relocated for years afterward, and customers call back the team that knows it best. That lasting relationship is a big part of why we were drawn to MEI.”
Neha Jatar, Managing Director At 26North
