Private Equity 24 Hours

Last updated: May 7, 2026, 11:30 AM ET

Dealmaking & Exits: Middle Market Activity

The middle market saw a flurry of activity across sectors, with several firms testing the exit waters and executing bolt-on acquisitions. MSouth is reportedly exploring a sale of USA Hometown Experts, an HVAC and plumbing service provider that could command over $480M, reflecting peer valuations near 16x EBITDA. Simultaneously, Baird Capital is seeking a buyer for Cleanwater1, a water treatment firm potentially fetching a 15x-17x multiple based on $40M in recent year EBITDA. In recent transactions, Siris has acquired Takkion, a renewable energy services provider, from Apollo Global Management, which had originally purchased the firm in 2020. Elsewhere, NTC Group-backed Entwistle snapped up Hales from its founders, while Kainos-backed Colorado Premium acquired protein supplier Old Hickory Smokehouse.

Platform Building & Sector Consolidation

Firms continued to build out specialized platforms through strategic purchases, often injecting new operational expertise into the process. GI Partners launched Rose Bio Solutions following its acquisition of Charles River Laboratories International’s contract development and manufacturing organization and cell solutions business. In the consulting space, Sovereign-backed Bioscript purchased Triducive, a consultancy focused on helping pharmaceutical clients manage clinical opinion data. The communications sector saw ParkSouth-backed Infinite acquire Dukas Linden Public Relations, expanding its reputation management footprint. Furthermore, Godspeed-backed NextPoint picked up UScontracting, a provider of technology solutions for the intelligence and defense communities, while Frazier Healthcare-backed CareTria acquired digital pharmacy Cary Health.

Vertical Integration & Investment Themes

Investment theses are driving specific consolidation plays, particularly in areas benefiting from enterprise software and services digitization. Main Capital-backed Zig purchased Unik System Design, a proptech company developing software for property management, aligning with broader trends in real estate technology. In the financial operations space, Norvestor is acquiring Germany’s Debtist, an AI-driven receivables management provider, mirroring the $17M Series A raised by U.S. firm Fazeshift for automating accounts receivable using AI agents. Separately, in the industrial maintenance space, Allied Industrial Partners invested in Trinity Industrial, with founders retaining meaningful ownership alongside the PE firm.

Personnel Moves & Firm Expansion

Major private equity firms are bolstering their senior ranks and geographic reach through targeted hires and internal promotions. ICG appointed Brant Gresham as managing director and US West head, while naming Felipe Sotomayor as managing director for Latin America, positioning the firm for growth in those regions. In operational roles, Vistria appointed John Atkinson as an operating partner for its financial services team, drawing on his experience leading a fast-growing unit at Marsh. Similarly, Tayeh Capital Group tapped Scott Harrison as an operating partner to support investment strategy, and L Squared appointed Philip Gunn as an operating executive to focus on buy-and-build platforms in aerospace and defense. Meanwhile, Kainos promoted Cate Mason to Investor Relations director following her tenure as a senior associate.

Secondaries Market & Liquidity Dynamics

The secondaries market continues to thrive amid market volatility, offering crucial liquidity pathways for GPs and LPs navigating a challenging exit environment. Market observers suggest that geopolitical shocks are actively fueling record secondaries activity, providing necessary price discovery where primary markets face friction. This trend is reflected in LP behavior, as Texas Teachers is pivoting toward co-investments, even if that strategy incurs higher costs, indicating a desire to control deal flow outside traditional fund structures. On the GP side, Japan’s Advantage is planning to double its Assets Under Management within a year, a move supported by a 5% equity stake sale to Australia’s Pinnacle Investment Management earlier this year.

Venture Capital & Early Stage Financing

Venture capital remains active, particularly in artificial intelligence and emerging technology sectors, though recent layoffs signal a focus on capital efficiency. A16z led a $16M seed round in Pit, the new AI startup from a Voi cofounder. The quantum computing sector also saw a major influx, with Quantum Motion raising $160M in a Series C round. Insurtech startup Corgi achieved a $1.3B valuation following its $160M Series B round led by TCV, just four months after its Series A. In contrast to fundraising success, DeepL announced 250 job cuts as the AI race intensifies capital allocation scrutiny. Furthermore, firms like Amex Ventures are backing startups focused on autonomous commerce, while Robinhood’s venture fund IPO attracted over 150,000 retail investors seeking pre-IPO exposure to names like OpenAI and Stripe.