2026 U.S. Manufacturing M&A: The Deals, Trends, and What Comes Next 

If you’ve been following business headlines recently, one thing is clear: M&A activity in the U.S. is alive and it’s accelerating, especially within the manufacturing sector. 

From strategic acquisitions by industrial giants to transformative mergers between leading producers of critical equipment, 2025 laid the groundwork for what could be the biggest year yet for U.S. manufacturing deals in 2026. 

In this blog, we’ll break down: 

• What’s driving U.S. manufacturing M&A 

• Key deals already shaping 2026 

• Trends that will define the rest of the year 

• What executives and investors should watch 

The U.S. Deal Market Is Heating Up 

First, the macro picture: M&A activity in the United States is expected to grow in 2026, even after a strong 2025. 

According to the EY-Parthenon M&A Outlook, U.S. deal volumes for transactions above $100 million are projected to rise about 3% in 2026, following roughly a 9% increase in 2025. They also note that strategic corporate M&A deals and private equity buyouts alike should continue to expand.  

Meanwhile, U.S. aggregate M&A deal value for 2025 saw significant growth, especially for deals valued over $100 million and above $1 billion. This is setting a strong staging ground for 2026 momentum.  

Here’s what this means: buyers are back, valuations are stabilizing, and companies aren’t just chasing scale; they’re pursuing capabilities. 

Why Manufacturing Is Poised for Deal-Making in 2026 

Manufacturing M&A isn’t growing in a vacuum. It’s tied to several larger trends influencing U.S. business strategy: 

AI & Advanced Automation 

Companies are snapping up technologies that help them automate real-time analytics, robotics, predictive maintenance, and supply chain optimization. Savvy buyers are willing to pay a premium for operational intelligence, especially if it plugs directly into U.S. production lines.  

Onshoring & Supply Chain Resilience 

Tariff uncertainty, global supply chain risk, and national interest in manufacturing sovereignty are pushing businesses to bring production home or closer to key markets. This increases the value of U.S. facilities and firms that anchor domestic supply chains.  

Larger Deal Sizes 

Deals of $5 billion+ accounted for a much bigger share of industrial M&A value in 2025 than in prior years, indicating a trend toward megadeals and strategic platform acquisitions.  

In short: Manufacturers in the U.S. are buying aggressively and early to future-proof production. 

Notable U.S. Manufacturing M&A Deals to Watch in 2026 

Below are the major transactions already influencing the 2026 manufacturing M&A landscape in the United States. 

Chart Industries & Flowserve | ~$19B Industrial Merger 

One of the biggest shakeups in the U.S. manufacturing world came when Chart Industries and Flowserve agreed to merge in a deal valued at about $19 billion. This combination will create a major producer of gas and liquid handling equipment across energy infrastructure, nuclear applications, LNG, and data center markets.  

Why it matters for 2026: 

• It represents a large-scale consolidation within U.S. industrial manufacturing. 

• The combined company expects to generate cost synergies and compete with larger peers such as Parker-Hannifin. 

• It signals that mega-mergers are back in industrials, not just tech. 

This merger was slated to close in late 2025 and will shape the competitive landscape well into 2026. 

Thermo Fisher Scientific Expands U.S. Footprint 

Thermo Fisher, one of the largest manufacturers in biopharma and life sciences, moved to acquire Sanofi’s pharmaceutical manufacturing site in Ridgefield, New Jersey. The deal strengthens Thermo Fisher’s capacity for sterile fill-finish and packaging, critical to vaccine and therapy production.  

What makes this relevant for 2026: 

• It accelerates Thermo Fisher’s U.S. manufacturing presence, responding to both demand and geopolitical trade dynamics. 

• It’s a strategic asset acquisition with long-term production value, not simply a financial play. 

This kind of strategic industrial acquisition underscores how manufacturing deals increasingly focus on supply chain control and resilience. 

LG Energy Solution Sells U.S. Battery Factory Assets 

In December 2025, LG Energy Solution agreed to sell U.S. battery factory assets to Honda Development and Manufacturing of America for $2.86 billion.  

Even though this is technically a sale of assets rather than a traditional full-company acquisition, it has implications for 2026 M&A because: 

• It repositions manufacturing capacity in the U.S. for EV battery production; a hot area of strategic investment. 

• Honda’s longer-term strategy may involve future integrations or expansions tied to this asset purchase. 

Expect more EV supply chain asset plays to turn into larger acquisitions or strategic partnerships as 2026 unfolds. 

Q1 2025 U.S. Manufacturing Acquisitions Set Precedent 

While these deals closed in 2025, they are essential stepping stones into 2026: 

From Onsemi’s U.S. acquisition of Qorvo’s Silicon Carbide business to Skywater Technologies buying Infineon’s Austin fab, U.S. manufacturing deals in the semiconductor and electronics supply chain expanded domestic capacity and raised expectations for similar activity next year.  

Other notable transactions include: 

• Cohu’s acquisition of Tignis, enhancing process-control software for chip manufacturing.  

• Jabil’s purchase of Pharmaceutics International, adding drug delivery production capabilities.  

These 2025 deals reflect the growing appetite for U.S. production assets and set the tone for more ambitious 2026 transactions. 

Broader Trends Driving Manufacturing M&A in 2026 

Understanding individual deals is great, but what bigger forces are shaping this decade’s most active M&A market? 

Digital & Automation Playbooks Are Key 

Manufacturers aren’t just buying factories; they’re buying systems. 

U.S. dealmakers are prioritizing AI-enabled manufacturing execution systems, predictive analytics, robotics platforms, and digital twins. Incorporating these technologies via M&A helps companies: 

• Reduce labor and operational costs 

• Boost throughput and quality 

• Future-proof aging industrial infrastructure 

Domestic Supply Chain Strength Matters 

Manufacturers are increasingly onshoring and reshoring production in response to supply chain disruption and tariff risk. This creates a valuation uplift for U.S. assets, especially in critical areas like semiconductors, batteries, and life sciences. 

Dealmakers view strategic acquisitions within the U.S. as de-risked investments compared with global alternatives, especially in a world where tariff policies and logistics costs remain uneven.  

Larger Deals, Higher Stakes 

According to PwC’s industrial manufacturing outlook, over half of 2025’s total deal value came from transactions over $5 billion, up from just one mega deal in the prior year. 

Here’s why that matters: 

• Buyers are chasing scale more aggressively. 

• Strategic asset purchases are morphing into full mergers. 

• Industrial complexity and capital intensity are rewarding big moves over incremental acquisitions. 

With multiple deals already pushing that scale in late 2025, 2026 will likely follow suit. 

What This Means for Executives and Investors 

Here are the key takeaways if you’re planning strategy or evaluating investment opportunities in U.S. manufacturing M&A: 

Expect Continued Deal Flow 

Volumes may not explode overnight. EY estimates moderate growth around 3% in 2026 but quality deal flow is solid.  

Target High-Value Capabilities 

Buyers aren’t just buying capacity, they’re buying: 

• Digital workflows 

• Automation platforms 

• Supply chain control 

• Strategic domestic geographies 

These capabilities will drive premiums and future competitive advantages. 

Private Equity Remains a Force 

Sponsors are returning to meaningful participation, especially in roll-ups and buy-and-build strategies for fragmented industrial niches.  

Regulatory & Policy Backdrops Matter 

Tariffs, trade policy, and domestic incentives could either amplify or constrain deal activity, especially in industries tied to national security, semiconductors, and energy production. 

Bottom Line: 2026 Could Be a Defining Year 

U.S. manufacturing M&A is transitioning from recovery to strategic expansion. Dealmakers are more selective, more ambitious, and more aligned with long-term competitiveness than in recent years. 

Whether it’s horizontal mergers like Chart Industries and Flowserve or targeted acquisitions like Thermo Fisher’s New Jersey site and Skywater’s Austin fab, the 2026 pipeline reflects: 

• A focus on tech-infused manufacturing 

• The rise of supply chain sovereignty 

• A willingness to merge scale with strategy 

This is not business as usual. This is the reshaping of U.S. manufacturing through deals that matter.