Private Equity 24 Hours

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

Dealmaking & Exits

Private equity deal flow saw several significant exits and acquisitions materialize across sectors, with SK Capital completing the sale of its specialty chemicals units, Noramco, Extractas Biosciences, and Purisys, to Siegfried Holding, though SK will retain ownership of its CDMO business, Halo Pharmaceuticals. In a separate exit, SK Capital divested Phoenix Flavors & Fragrances Inc. to Turpaz Industries Ltd. Elsewhere in strategic sales, SE Capital sold HVAC and plumbing firm Sierra Platform to Redwood Services, which focuses on essential home services, while Audax’s sale process for commercial HVAC provider Nextech is advancing, with bidders reportedly valuing the company around $1.5bn based on 15x EBITDA multiples.

Consolidations continued in specialized services, where Carlyle acquired health technology firms Knack RCM and Equalize RCM, with both founders reinvesting a portion of their proceeds back into the platform. In infrastructure and services, Vasco, backed by PE, expanded its sports facilities footprint by acquiring tennis and pickleball contractor Howard B. Jones & Son and Court Surfaces of Florida. Further deals included IFM Investors-backed Mobius Renewables acquiring biogas production assets from Air Liquide across the US, France, Norway, and Sweden, and Riata Capital-backed COEO Solutions snapping up managed tech provider S-NET Communications.

New Investments & Platform Launches

Firms are actively building platforms across varied verticals, evidenced by Bain Capital, Sixth Street, and Harvest Partners backing Power Home Remodeling, where existing investor Harvest Partners will maintain its largest stake. In wealth management, Integrum, Lightyear, and Ontario Teachers’ committed capital to advisor Allworth Financial, continuing prior investment relationships from Lightyear and Ontario Teachers’. Furthermore, Avista unveiled its new platform, Birchwell Consumer Health, concurrent with the acquisition of Vermont-based skincare brand Bag Balm from a seller group led by Gemini Investors. In the AI space, though focusing on enterprise technology, SAP agreed to acquire German AI startup Prior Labs, signaling continued M&A interest in foundational technology.

Firm Strategy & Talent

Firms are continuing to deploy operational expertise to drive value creation, as seen by RoundTable appointing Amardeep Kahlon as an operating partner to assist investment teams in evaluating opportunities and accelerating portfolio company performance. Meanwhile, the fundraising environment shows continued capital flow into specialized areas, with Katie Haun announcing $1 billion raised across new venture funds explicitly targeting crypto and blockchain startups, reinforcing her firm’s long-term thesis in digital assets despite broader market volatility. The evolving role of intermediaries was also under review, as data suggests placement agents are actively reassessing strategies to better align with LP expectations amid structural challenges in the private equity fundraising market.

Market Signals & Sector Focus

The public market is testing appetite for PE-backed assets, as emergency medical services provider GMR set IPO pricing terms for its listing in Lewisville, Texas. Beyond specific transactions, dealmakers anticipate continued activity in home services, with expectations for more transactions in roofing, landscaping, and remodeling sectors. In technology investing, venture capital continues to focus on infrastructure underpinning emerging trends, with professionals noting a tendency in Europe to prioritize foundational AI technologies, contrasting with the Silicon Valley focus. Several professionals from firms including Step Stone and LGT Capital Partners were recognized in a recent list identifying emerging leaders in the secondaries market, reflecting the growing importance of that segment.