Defense-related companies accounted for 29% of private equity acquisitions in manufacturing in H1 2026. Data center and AI-related companies also made up 29% of such deals. Private equity firms acquired over 170 U.S. manufacturing companies with 500 or more employees in the same period. Large manufacturing companies saw 26% acquired in Q2 2026, up from 16% in Q1. Former Cerberus executives now hold key roles in the Department of Defense. The report links private equity interest to reshoring and AI demand. It also highlights concerns over layoffs, bankruptcies, and union-busting tied to such acquisitions. The figures come from a Private Equity Stakeholder Project report.

• 29% of PE acquisitions in defense
• 29% of PE acquisitions in data center and AI
• 170+ U.S. companies with 500+ employees acquired in H1 2026
• 26% of large manufacturing companies acquired in Q2 2026