Australian companies have attracted a wave of interest from PE firms and international investors in 2026, with a series of potential takeovers spanning infrastructure, waste management, property, financial services and industrial businesses, according to a report by Reuters.
While several approaches remain at the preliminary or due diligence stage, a number of transactions have progressed to binding agreements, underlining the level of private capital and overseas interest in Australian assets.
Among the year’s notable transactions is Brookfield Asset Management’s agreement to acquire plumbing products manufacturer Reliance Worldwide for approximately AUD4.1bn ($2.9bn).
KKR has also featured prominently in Australia’s M&A market. A consortium backed by the global investment firm agreed in August to acquire specialist insurance distributor Steadfast for AUD7.7bn ($5.5bn). Under the transaction, Amwins Group and Dragoneer Investment Group will take control of Steadfast’s underwriting agency and broking businesses respectively.
Swedish private equity firm EQT has meanwhile pursued several Australian opportunities, with EQT Infrastructure having launched a AUD9.4bn ($6.7bn) proposal for waste management company Cleanaway Waste Management in August, and Cleanaway subsequently granting the firm exclusive due diligence access.
EQT also made a bid for financial services group Perpetual, increasing its proposal to AUD2.55bn ($1.82bn) in July. Perpetual rejected the revised offer but subsequently granted EQT limited due diligence access while considering whether an improved proposal could emerge.
Warburg Pincus was another major private equity bidder in the Australian market. The US firm proposed acquiring residential property developer Ingenia Communities for AUD1.94bn ($1.39bn), but Ingenia rejected the offer in September on valuation grounds. The proposal was also conditional on Ingenia abandoning its planned AUD711m acquisition of master-planned communities developer Peet.
