Private Equity 24 Hours

Last updated: May 5, 2026, 2:30 AM ET

Dealmaking Activity Accelerates Across Sectors

Private equity deal execution saw varied activity, with exits and acquisitions marking the day. SK Capital completed the sale of its portfolio companies Noramco, Extractas Biosciences, and Purisys to Siegfried Holding, though it will retain ownership of the finished-dose-form CDMO, Halo Pharmaceuticals. In the essential home services arena, SE Capital divested HVAC and plumbing firm Sierra Platform to Redwood Services, a Memphis-based platform specializing in the sector. Meanwhile, interest in the commercial HVAC space remains high, as bidders have reportedly valued Audax’s Nextech at $1.5bn, or 15x EBITDA, as it advances into the second round of its sale process, signaling potential further deal flow in home remodeling and roofing as indicated by PE Hub.

Platform Acquisitions and Sector Roll-Ups

Firms continued to build out existing platforms through strategic bolt-on acquisitions across diverse industries. Carlyle acquired two health tech entities, Knack RCM and Equalize RCM, with the founders of both firms reinvesting a portion of their proceeds back into the new platform. In specialized contracting, Vasco, backed by PE, expanded its footprint by acquiring court contractors Howard B. Jones & Son Inc. and Court Surfaces of Florida, focusing on tennis and pickleball facilities. The infrastructure and energy transition space saw activity as IFM Investors-backed Mobius Renewables acquired biogas production assets from Air Liquide across the U.S., France, Norway, and Sweden, including six landfill gas-to-RNG sites. Furthermore, Riata Capital-backed COEO Solutions snapped up managed tech provider S-NET Communications to bolster its offering for multi-location mid-market enterprises.

Fundraising and Talent Deployment

Capital raising efforts saw notable success, particularly in technology-focused strategies. Venture investor Katie Haun raised $1 billion across new funds designed to continue her firm’s thesis supporting crypto and blockchain startups. In operational enhancement, RoundTable appointed Amardeep Kahlon as an operating partner to accelerate value creation within current portfolio companies and aid in new investment evaluations. The professional services supporting the industry are also evolving, with placement agents reportedly adjusting strategies in response to broader private equity challenges as investors seek improved alignment and service delivery. Concurrently, the secondaries market recognized emerging talent, with professionals from firms like Step Stone and LGT Capital Partners featured on a list of future private equity leaders.

Artificial Intelligence Integration and Sector Bets

The integration of artificial intelligence into deal sourcing and portfolio management is becoming increasingly apparent, even in non-traditional sectors. European investors remain confident that regional startups can navigate potential AI disruption, while specialized firms are already leveraging the technology for materials discovery; for instance, Lithosquare raised $25M specifically using AI to find critical metals. Even large corporate acquirers are active in the AI space, as demonstrated by SAP agreeing to purchase German AI startup Prior Labs. Meanwhile, some investors are focusing on the less glamorous applications of the technology, betting on the "boring parts of AI" through investments in enabling infrastructure assembled by figures like Nicolas Sauvage since 2019.

Exits and Public Market Appetites

Firms are testing public market appetites for portfolio exits. Emergency medical services provider GMR, based in Texas, set its initial public offering pricing terms this week. In another exit, SK Capital divested Phoenix Flavors & Fragrances Inc. to Turpaz Industries Ltd. Elsewhere, investment continues in high-value consumer and services platforms; Bain Capital, Sixth Street, and Harvest Partners backed Power Home Remodeling, with Harvest maintaining its position as the largest investor. Furthermore, Avista unveiled its new platform, Birchwell Consumer Health, which immediately acquired the skincare brand Bag Balm from a seller group led by Gemini Investors. In wealth management, Integrum and Ontario Teachers’ invested further into advisor Allworth Financial, continuing support alongside existing backer Lightyear.