McGuireWoods partner Jon Finger shared insights on M&A activity driven by the boom in Texas’ power and utility sector in a Nov. 29, 2025, article in The Dallas Morning News. The article originally was published by The Texas Lawbook.
Finger, a Dallas partner and leader of the firm’s nationally recognized Private Equity Industry Team, said data center development is expected to sustain momentum into 2026, with traditional power grid sources — especially dispatchable gas-fired generation — continuing to play a critical role in meeting data centers’ substantial, consistent load demands.
As it relates to the broader investing environment, “…[t]he current market is very strong, and I am cautiously optimistic it will continue strong in the coming year,” Finger said. “The strength of the market goes beyond simple supply and demand. The money is there.”
As Finger explained, “Financing is relatively available and competitive, structural tailwinds remain and sell-side closings have accelerated in our practice as well.”
In the first three quarters of 2025, Texas lawyers handled more M&A transactions involving power and utility projects than in any full year since 2018, according to The Texas Lawbook.
Finger said trade issues and regulatory uncertainty are his biggest areas of concern heading into 2026.
“The inherent impact on the ability to have confidence in underwriting future results is the largest impediment to continued growth in M&A,” he said.
McGuireWoods’ private equity lawyers advise institutional investors, independent sponsors, emerging managers, family offices, investment advisers, management teams, lenders and portfolio companies. The firm earned nationwide rankings for M&A and private equity deal work in the Chambers USA and Legal 500 United States guides. Finger was instrumental in creating international independent sponsor and emerging manager programs that distinguish McGuireWoods as the preeminent law firm for emerging private investment fund managers.