Private equity firms may be missing substantial value in software payments, according to a new Bain & Co report. In Europe, PE-backed software platforms touch nearly €1 trillion in payment flows, yet fewer than 10 percent include a payments monetization strategy in their value creation plan. Bain & Co estimates uncaptured revenue could reach €2.5 million–€5 million annually for a hypothetical portfolio company with €50 million in ARR and over €500 million in payment volume.

As buyouts now require roughly 12 percent annual EBITDA growth—up from 5 percent—capturing this value is increasingly vital. Platinum Equity has completed the $6.6 billion sale of Urbaser, a Madrid-based environmental infrastructure platform, to Blackstone and EQT. The deal underscores continued appetite for large-scale European infrastructure assets among major buyout firms.

MML Capital has made a growth investment in Dalcour Maclaren, a consultancy focused on the utilities and infrastructure sector, to support its expansion across the UK and Ireland. The consultancy advises clients on regulatory and strategic matters within energy and water markets.