Private Equity 24 Hours

Last updated: May 4, 2026, 11:30 AM ET

Private Equity: Home Services & Exits Dominate Deal Flow

The essential home services sector remains a focal point for private equity activity, with dealmakers advancing bidders into the second round for Audax's commercial HVAC provider, Nextech. Interest levels are high, with sources indicating that potential acquirers are valuing the company at approximately 15 times EBITDA, suggesting a potential transaction size near $1.5bn. This potential sale follows a flurry of recent transactions in related sectors; SE Capital] recently divested its HVAC and plumbing firm, Sierra Platform, to Redwood Services, a platform focused squarely on home services. Furthermore, Bain Capital, Sixth Street, and existing backer Harvest Partners have committed fresh capital to home remodeling company Power Home Remodeling, though Harvest Partners will retain the largest stake. The activity in HVAC, roofing, landscaping, and remodeling suggests continued appetite for fragmented, recurring-revenue service businesses.

Sector-Specific Acquisitions & Platform Builds

Platform activity extended across specialized industrial and technology verticals. Riata Capital-backed COEO Solutions expanded its footprint by acquiring managed technology provider S-NET Communications, targeting multi-location mid-market enterprises needing managed network and cloud services. In infrastructure, IFM Investors-backed Mobius Renewables completed a strategic purchase of Air Liquide's biogas production assets across the US, France, Norway, and Sweden, a deal that notably includes six operating landfill gas-to-RNG sites in the US. Meanwhile, Avista launched its new platform, Birchwell Consumer Health], simultaneously acquiring therapeutic skincare brand Bag Balm from a seller group led by Gemini Investors. In the wealth management space, Integrum, Lightyear, and Ontario Teachers’ are *co-investing [and are co-investing in advisor Allworth Financial, with Lightyear and Ontario Teachers’ serving as previous supporters.

Exits and Tech Integrations

On the exit side, SK Capital finalized its divestiture of flavors and fragrances producer Phoenix Flavors & Fragrances Inc to Turpaz Industries Ltd. In technology M&A, SAP confirmed its move to absorb German artificial intelligence startup Prior Labs, signaling integration of specialized AI capabilities into its enterprise software offerings. This focus on the "boring parts of AI," such as infrastructure and specialized tooling, reflects a broader VC trend where investors like Nicolas Sauvage are building portfolios around foundational technologies that underpin wider AI adoption. Concurrently, venture funding interest remains high in compute infrastructure, with numerous startups in the future of compute space drawing attention from European investors who are noted for zagging on AI strategy relative to Silicon Valley norms.

Ancillary Market Moves

Separately, Grovecourt-backed Traffic & Mobility Consultants LLC bolstered its engineering capacity through the acquisition of Florida-based specialist Chindalur Traffic Solutions, enhancing its capabilities in transportation planning. Separately, event organizers are attempting to drive attendance for the upcoming Tech Crunch Disrupt 2026 conference by offering a limited-time buy-one-get-50%-off promotion ending this Friday, May 8.