Private Equity 24-Hour Briefing
×Last updated: May 5, 2026, 2:30 PM ET
Deal Flow & Exits in Software & Services
Private equity firms demonstrated active portfolio management with several strategic divestitures and acquisitions across the services sector. Siris Capital is exiting pehub.com its ownership in the shareholder services platform Equiniti pehub.com, agreeing to sell the firm to Bullish pehub.com for approximately $4.2bn, a move that follows Siris's 2021 acquisition and subsequent scaling alongside AST. In a separate transaction, THL Partners plans to divest pehub.com its stake in the semiconductor design firm AMI pehub.com to Lattice Semiconductor pehub.com, with the sale valued at $1.65bn and expected to close in the third quarter of 2026. Furthermore, Copley Equity Partners is testing the market pehub.com for its civil and structural engineering firm LJB pehub.com, with sources indicating potential bids could reach valuations of 12x to 14x EBITDA, while KKR and XPV Water Partners are selling pehub.com their unified nutrient management platform, Axius Water pehub.com, to industrial conglomerate CRH pehub.com.
Sector Consolidation via Add-On Acquisitions
The trend of platform building through bolt-on acquisitions remains strong across niche industrial and healthcare verticals. Sterling Group-backed HLSG pehub.com, a provider of outsourced linen laundry services to healthcare institutions, acquired Texas Textile Services pehub.com to expand its footprint. In the specialized environmental services space, Coalesce Capital-backed Miller Environmental Group pehub.com scooped up Central Ohio Oil pehub.com, enhancing its waste and industrial service capabilities. Healthcare services platform Arete Health pehub.com, supported by MBF Healthcare pehub.com, continued its expansion by acquiring Virginia Rehabilitation & Wellness and Summerville Physical Therapy & Balance pehub.com. Simultaneously, Align Capital-backed Armko pehub.com, an engineering consulting firm, snapped up Kuhn & Associates pehub.com, while CataCap-backed Thranekær pehub.com added engineering consultancy Ingeniørgruppen pehub.com to its platform.
Technology & Growth Equity Investments
Venture capital activity remains concentrated in AI and deep technology, even as the broader startup funding market saw a significant monthly surge. Global venture funding in April reached $56 billion news.crunchbase.com, representing the third-highest monthly total in a year and marking a 100% year-over-year increase, largely propelled by several mega-rounds. In the AI space, voice technology startup ElevenLabs secured new investors techcrunch.com including BlackRock techcrunch.com and actor Jamie Foxx, as the company reportedly hit $500M in annual recurring revenue. Autonomous software developer Blitzy raised $200M news.crunchbase.com, achieving a $1.4bn post-money valuation, while quantum computing startup Quantware received $178M in Series B funding sifted.eu backed by Intel sifted.eu to scale production. Separately, Lithosquare is raising $25M sifted.eu to apply AI in the discovery of critical metals, signaling investor interest beyond traditional software.
Mid-Market & Specialist Transactions
Activity in the lower and middle markets saw PE firms deploy capital into specialized infrastructure and service providers. Platinum Equity acquired pehub.com electric heating manufacturer Infratech pehub.com from its founders. In the IT managed services sector, Salt Creek Capital sold pehub.com its largest franchisee of TeamLogic IT pehub.com, which specializes in cloud solutions and cybersecurity for SMEs. Furthermore, Boyne invested in H&B Facility Services pehub.com to initiate a commercial cleaning platform, and O2 invested in Atlas Asphalt pehub.com, supporting the second-generation leadership team. Elsewhere, CapMan Infra is acquiring pehub.com a majority stake in HeliAir Sweden pehub.com, a Nordic helicopter operator involved in aerial services like firefighting and defense.
Secondaries Market Dynamics & Firm Strategy
Market participants are analyzing evolving sentiment in the secondary market, where deal terms are reportedly becoming more standardized despite ongoing challenges. Recent industry discussions indicated that the secondary market may have moved past the initial "stages of grief," with a growing focus on achieving 'best practice terms' rather than solely prioritizing deal closure velocity, according to analysis shared at a recent conference addressing DPI metrics privateequityinternational.com. This focus on quality is reflected in ongoing market intelligence efforts, such as the inaugural Global Market Survey released by Secondaries Investor secondariesinvestor.com. In firm strategy, Amulet Capital appointed Adam Grossman as partner pehub.com to focus specifically on scaling healthcare services platforms, while RoundTable brought on Amardeep Kahlon as operating partner pehub.com to accelerate value creation across its portfolio companies.