Veritas unleashes deal spree across government tech, critical infrastructure

Veritas unleashes deal spree across government tech, critical infrastructure

Sat, August 8, 2026 at 12:16 AM GMT+3 2 min read

Last week was busy for Veritas Capital.

On Thursday, the New York-based private equity firm, which makes investments in government-adjacent and regulated industries, agreed to acquire Texas-based Saber Power Services, marking its third acquisition announcement in less than a week.

Days earlier, it agreed to acquire federal contractor Steampunk and environmental consultancy Trinity Consultants, and submitted a 914 pence-per-share proposal for London-listed Bodycote, valuing the industrial services company's equity at about £1.56 billion ($2.1 billion).

The bid places Veritas in a takeover contest with CVC Capital Partners, which proposed 915 pence per share. The bidders face a Sept. 2 deadline.

This dealmaking spree followed Veritas's July agreement to buy facilities management and engineering business BGIS.

Veritas has a big war chest to deploy. The firm, which has $54 billion in AUM, announced in February that it had raised $15.3 billion for its ninth flagship fund and related vehicles. The main fund closed at its $14.4 billion hard cap, coming in about 35% larger than its predecessor.

This flurry of deals stands out against a weaker overall buyout market. US private equity deal value fell 37.5% in Q2, and was down 23.9% year-over-year, according to PitchBook's Q2 2026 US PE Breakdown.

It also highlights investors' clamor to invest in businesses whose demand is backstopped by government policy, such as computer processing power, energy generation and traditional defense sectors.

The US defense budget has continued to grow, standing at $1.05 trillion in fiscal year 2026 and, pending congressional approval, could reach $1.5 trillion in fiscal year 2027.

The government has been courting PE and venture capital investment into the defense sector. In October, Army Secretary Daniel Driscoll and Treasury Secretary Scott Bessent met with KKR, Cerberus, Apollo Global Management and other buyout firms in talks to help finance a $150 billion overhaul of Army infrastructure.

This article originally appeared on PitchBook News