Private Equity 24 Hours

Last updated: May 7, 2026, 8:30 PM ET

Dealmaking & Portfolio Activity

Private equity firms continued an active period of consolidation and investment across various sectors. Brightstar invested in Simon Eye Holdings, with the existing CEO, Edward DiMartino, maintaining a significant ownership stake alongside management. In healthcare technology, Silversmith-backed Med Tech acquired Avarion, a Valencia-based provider of managed healthcare IT services, signaling continued investment in specialized health tech infrastructure. Elsewhere, Pye-Barker, backed by private equity, expanded its footprint in life safety services by acquiring AAA Fire Extinguisher Co. in Alpharetta, Georgia, while NTC Group-backed Entwistle snapped up Hales, whose founders are exiting the business.

Mid-market activity also saw several strategic exits and platform build-ups. Siris Capital is poised to realize a triple return on its investment in Equiniti following its sale to Bullish, with Siris co-founder Frank Baker citing future demand for tokenized public equity securities as a key driver. In a separate transaction, Siris acquired renewable energy services provider Takkion from Apollo, which had initially purchased the firm in 2020. In the energy sector, Carlyle and Diversified Energy reached an agreement to purchase Andarko Basin oil assets from Camino for $1.2bn, which adds over 100 undeveloped inventory locations to Diversified’s substantial holdings in Oklahoma. Furthermore, SVP acquired the power generation facility New Frontera Holdings, building on an earlier restructuring investment made in 2021.

Platform activity was evident in specialized manufacturing and services. Berkshire-backed Specialized Elevator and Wyatt Elevator merged, combining two entities founded in 1997 and 2012, respectively. In specialty materials, Snow Peak divested its interest in Dalco-GFT, a fabrics manufacturer, retaining only a minority stake alongside CEO Joey Duncan. Meanwhile, GI Partners launched Rose BioSolutions following the acquisition of Charles River Laboratories International’s contract development and manufacturing organization and cell solutions business. In the B2B services space, Allied Industrial Partners invested in Trinity Industrial, an equipment rental firm, where the founders will retain meaningful equity alongside the PE sponsor.

Sector Focus: AI, Prop Tech, and Energy Transition

The intersection of technology and finance continues to attract significant capital, even as traditional tech arms retract. Fazeshift secured $17M in a Series A round to automate accounts receivable using AI agents, joining a broader trend of AI-powered operational efficiency plays. In related technological investment, A16z led a $16M seed round for Pit, a new AI startup from a Revolut co-founder. However, the broader AI sector is seeing retrenchment elsewhere, with DeepL cutting 250 jobs as it fights to maintain its competitive edge. Furthermore, Fidelity has quietly shuttered its venture capital arm, signaling a potential pullback in corporate VC engagement.

European dealmaking showed interest in both domestic and international targets, with European GPs increasing their activity in the US; Mutares’ CIO noted concrete plans to open a Houston office. In the digital services space, Main Capital-backed Zig acquired Unik System Design, a proptech firm focused on software for property management. In Germany, Norvestor is set to acquire Debtist, a provider leveraging AI for receivables management and debt collection. Conversely, the focus on energy transition assets saw Siris acquire Takkion from Apollo, while the European EV infrastructure market is pivoting from hardware to software solutions, moving from chargers to code.

Talent, Exits, and Market Sentiment

The secondary market is currently experiencing a boom, with one analysis suggesting that geopolitical uncertainty is actively fueling record secondaries activity, even as others describe the industry coming to terms with a new liquidity reality through five stages of CV grief. In deal origination, several firms are reportedly testing the market for business services companies, including Audax, Baird, and MSouth, while Capstone Partners notes challenges in the industrials deal market. MSouth is specifically testing the buyout market for HVAC and plumbing provider USA Hometown Experts, which could fetch a valuation north of $480M. On the talent front, ICG appointed Brant Gresham to lead its US West operations and Felipe Sotomayor to head its Latin America division, while MiddleGround promoted Alexander van der Have to partner, recognizing his role in expanding the firm’s European presence.