Private Equity 7d

Deals & Add-On Acquisitions

Private equity activity remained robust last week, with add-on acquisitions fueling growth across multiple sectors. Storr-backed SPS Pool Care acquired Pool Troopers, expanding its footprint in the pool maintenance space. In the tech consulting arena, Rallyday-backed Livefront merged with Zeal IT, consolidating capabilities under a unified platform. Aurora Capital also made a move in tech, picking up Anova, a software solutions provider.

In aerospace, Capza-backed Mecadaq announced two add-on deals, while Ambienta-backed Cap Vert closed four acquisitions to scale its environmental services platform. Renovus-backed Blue Ridge acquired Design Science, a life sciences consultancy, strengthening its position in regulatory strategy services.

Healthcare & Behavioral Services

Healthcare remained a hot sector, with PE firms continuing to target high-growth niches. Aquiline-backed Relation Insurance Services acquired PT Business Solutions, expanding its insurance tech stack. Gryphon Investors-backed Metagenics bought Symprove, a probiotic brand, as part of a broader push into wellness.

Aquitaine Capital invested in KidsChoice, a pediatric therapy services provider, emphasizing the behavioral health segment. Main Post acquired HomeWell Care Services, a senior care provider, while Peloton-backed Victoria Park snapped up PHI Medical Aesthetics, extending its reach in medspa services.

Consumer & Lifestyle

Consumer-facing deals kept flowing, with several branding and platform-building moves. Transom acquired WellBiz Brands, a wellness franchisor, to create a multi-brand platform. Highlander Partners purchased Tapatio, the hot sauce brand, targeting Hispanic market growth.

Yellow Wood-backed Suave Brands merged with Elida Beauty to form Evermark, a new personal care entity. In sports retail, Bluestone invested in Selkirk Sport, a pickleball equipment manufacturer, capitalizing on the sport's rising popularity.

Secondaries & Fundraising

The secondaries market hit new milestones, with EQT acquiring Coller Capital for $3.2bn, signaling increased consolidation. Ardian promoted senior executives and launched an AI-integrated deal analysis framework to evaluate opportunities. Pantheon led a $3.2bn private credit continuation vehicle, while Arcano raised $1bn for its fifth secondaries fund.

Pinegrove secured $2.2bn to capitalize on venture secondaries growth, and Auldbrass Partners targeted $350m for its latest secondaries vehicle. Connecticut’s state pension fund highlighted scale as a strategic edge in navigating the secondaries market. State Street also expanded its secondaries access, targeting retail investors.

Credit & Infrastructure

Private credit continued to attract significant capital. Oaktree and Anchorage stepped into a $1.1bn DIP loan for First Brands, showcasing PE’s growing role in distressed credit. BlackRock’s HPS made its first Asia private credit deal since acquiring the distressed assets platform. PGIM allocated $1bn to private credit secondaries, while Allianz GI raised $690m for emerging-market climate deals.

CVC inked a $3.5bn partnership with AIG to boost private credit capabilities, and Goldman Sachs and Blue Owl weighed a $3bn loan for OneStream’s buyout.

Tech & Software

Software remained a core PE focus, with KKR-led investors making additional commitments to Sylvan, a fungal biotech platform. Resurgens acquired OrgChart, a software provider, while Cohere Capital backed FlexTecs, a recovery audit platform.

BV Investment Partners bought Alacrity Solutions’ repair unit, expanding managed services software offerings. In govtech, Lead Edge-backed Clear Gov merged with Gravity, creating a unified platform. TCV and Blackstone backed Pennylane at a $4.25bn valuation, betting on European fintech.

Sports & Media

Private capital flowed into sports, with GTCR and Gary Swidler launching Ascent Sports Group. IK Partners acquired Trustmoore, a fund services platform, adding to its alternative asset management stack. Private capital also moved into emerging sports with Athvance launching a pan-European platform.

Real Estate & Infrastructure

CPP Investments and IRA Capital formed a medical real estate JV, targeting healthcare properties. Water Street invested in GlobalMed Logistix, while Godspeed backed Engineering Resource Group. Sussex Strategy Group received a strategic investment from Fengate, expanding infrastructure advisory capabilities.

Geographic Highlights

Asia emerged as a growing PE battleground. Fountain Vest argued that Asia offers Europe’s next growth engine, while Sequoia joined a $25bn round in Anthropic at a $350bn valuation. Sovereign wealth funds also turned to emerging-market private credit for diversification.

IPOs & Exits

IPO activity featured several portfolio companies. L’Occitane weighed a US IPO less than two years after its €6bn take-private. CSG targeted a €25bn valuation in an accelerated Amsterdam listing. Brookfield-backed Clean Max planned a smaller India IPO, while Everstone exited Burger King India.

People Moves

Several promotions and executive changes marked the week. Baird Capital made multiple team promotions, while Clarion hired Teresa Czubak as chief people officer. VMG Partners promoted Robin Tsai to managing partner, and Keensight named Julian Bennet as managing director.

Strategic Outlook

KKR topped its $20bn Americas buyout fund target, while Thoma Bravo’s Orlando Bravo warned of AI-driven valuation surges. Carlyle’s Petr Rieger highlighted short hold strategies, citing Tescan’s rapid EBITDA growth. Ardian integrated AI into deal analysis, and Columna sold MSA Mizar stakes to Tower Brook in a strategic exit.

Advent tested the exit window with a €3bn Irca sale, and Hellman & Friedman explored a $9bn-plus exit for Cordis. The secondaries market smashed $226bn in 2025, underscoring continued investor appetite for liquidity solutions.