26North to buy MEI Industrial Solutions from Olympus

26North Partners has agreed to buy MEI Industrial Solutions from Olympus Partners, adding a business with nearly 2,500 U.S. employees who move, store and install equipment for data centers and advanced manufacturing, according to 26North’s Oct. 15 announcement.

MEI’s end markets are moving in opposite directions. Data-center construction spending rose more than 73% in the 12 months through August 2026, while manufacturing construction spending fell about 20%, according to Census Bureau data cited by Matters Graph, which advised 26North on commercial due diligence for the acquisition.

The investment firm plans to work with MEI management on spending for people, equipment and training. Expanding the company’s base of skilled riggers and technicians, alongside its geographic reach, is part of the plan, 26North private equity partner Derek Whang said in the announcement.

Dallas-based MEI operates 30 locations and 90 storage facilities, with 10 million square feet of industrial storage, according to the acquisition announcement. Its crews place power and cooling equipment in hyperscale data centers, position precision tools in chip plants and install production lines in battery and pharmaceutical facilities.

Customers building across several states increasingly want one company responsible for equipment from the factory floor through final placement, MEI Chief Executive Doug Dayton said in the statement. The buyer also sees work beyond initial installation: equipment upgrades, retrofits and relocations bring customers back over subsequent years, 26North Managing Director Neha Jatar said.

26North expects the transaction to close in the fourth quarter of 2026, subject to customary closing conditions, including regulatory approvals.