Private Equity 24 Hours

Last updated: March 24, 2026, 11:30 AM ET

Mega-Deals and Strategic Exits in Asia & Europe

Apollo Global Management is making a significant push into Japan, agreeing to acquire Nippon Sheet Glass in a transaction valued at approximately $3.7 billion, which marks the largest private equity investment in the country by an Apollo-managed fund. Separately, global dealmakers are vying for a major European asset, as Apollo and Bain Capital lead a €4 billion bidding race for Continental's industrial unit, Conti Tech. Meanwhile, in exit activity, CVC Capital Partners and Silver Lake have commenced investor outreach for a potential initial public offering of RAC that could value the company at $6.7 billion, signaling continued appetite for large-scale listings despite market uncertainty.

North American Mid-Market Transactions

Activity across the U.S. mid-market saw several sector-specific acquisitions, including Advent's planned takeover of the body care brand Salt & Stone, which will see a minority investor, Humble Growth, exit its stake acquired in 2024. In the consumer space, Main Post has invested in pretzel manufacturer Stellar Snacks, which boasts extensive distribution across major retailers like Costco and Target nationwide. Shifting to environmental services, Goldner Hawn picked up Lone Star Environmental Companies, which operates across the Houston and San Antonio markets, while in infrastructure, Hull Street is set to acquire two power plants from Rockland: the Lee County Generating Station in Illinois and the Tait Electric Generating Station in Ohio.

Software, Services, and Sector Specialization

Private equity firms continue to deploy capital into enterprise software and specialized service providers. Main Capital invested in Gingco Systems, a developer of modular software for intelligent workplace management, and TSCP backed govtech firm Karpel, which services prosecutor and public defender offices across the U.S. In the recruitment sector, Southfield made an investment in Metric Search, a firm focused on the medtech life sciences, engineering, and data center industries. Furthermore, Princeton Equity Group backed children’s education provider Kid Strong, which has expanded rapidly since beginning franchising in 2019 to operate 184 centers supporting over 85,000 members.

Asset Rotation and Portfolio Management

Large firms are actively managing portfolio valuations through both sales and strategic divestitures. Blackstone has appointed Knight Frank to market a collection of Parisian apartments valued at €100 million, part of a broader strategy to realize value following a larger €700 million acquisition in the city. In the technology space, Francisco Partners is selling music publisher Kobalt to a Brookfield-backed entity, Primary Wave, with the management team set to remain in place. Separately, Generate Capital sold greenhouse operator Equinox Growers to Taylor Farms, an exit supporting regional food supply chains. In a partial exit, Advent sold a £46 million stake in customer review platform Trustpilot, which caused a sharp decline in the company's share price following the discounted placement.

Infrastructure, Defense, and Niche Markets

Deals involving essential services and defense contractors remained a focus. GI Partners is reportedly advancing sale discussions for its American Residential Services business, which could achieve a valuation around $3.5 billion. In the defense sector, Arlington Capital is acquiring Eptec Defence, a specialist in naval and defense preservation services. In related activity, Turnspire Capital Partners is expected to collect first-round bids in mid-April for its municipal water utility service provider, USG Water Solutions. Meanwhile, GTCR-backed Ascent Sports Group acquired sports technology firm Live Barn, a platform established in early 2026.

Secondaries Market Dynamics and Talent Shifts

The focus on liquidity solutions continues as the University of California shops a substantial $3 billion limited partner portfolio in the secondaries market, reflecting a broader trend of institutional investors seeking capital calls relief. This demand for liquidity is noted by Mercer's team, who highlighted that Mercer’s acquisition of a firm bringing "missing link" capabilities was timely given the heightened interest in secondaries. On the operational front, European GPs are finding their technological initiatives challenging, with Bain & Co. reporting that nearly half of general partners see their artificial intelligence efforts falling short. Furthermore, talent movement saw O2 appoint Rob Hays, formerly of Clean Bridge Securities, as its new Head of Investor Relations.