Private Equity 24 Hours

Last updated: May 19, 2026, 8:30 PM ET

Manufacturing Consolidation Sky Peak created a precision‑manufacturing platform called Excelus by merging Excelus Manufacturing Solutions, D&G Machine Products and Millennium Precision, positioning the new entity to tap rising demand for high‑tolerance components in aerospace and medical devices. The move follows a broader trend of PE‑backed roll‑ups that seek economies of scale in niche industrial segments.

Packaging Distribution Deal Novvia added APC Packaging to its portfolio, expanding the Kelso‑backed distributor’s footprint in rigid container and life‑sciences packaging. The acquisition broadens Novvia’s product catalogue and gives it a stronger foothold in the U.S. market, where demand for sterile, high‑integrity packaging is accelerating amid vaccine and biologics growth.

Auto‑Wash Take‑Private Leonard Green closed a take‑private of Mister Car Wash at $7 per share, valuing the car‑wash chain at a $3.1 billion enterprise multiple. The transaction reflects the firm’s confidence that fragmented service businesses can be scaled through centralized branding and technology upgrades, delivering higher cash conversion rates for investors.

Luxury Brand Transfer WHP Global agreed to acquire the Marc Jacobs label from LVMH, with Oaktree and Ares providing backing for the deal. The transaction, valued in the low‑hundreds of millions, underscores private equity’s appetite for iconic fashion assets that can be revitalized through focused brand management and selective wholesale expansion.

Healthcare Credit Refinancing* H.I.G. Bayside extended a £90 million unitranche loan to Lifeways Group, refinancing the UK care‑provider’s debt and freeing up cash for operational upgrades. The financing, structured as a single‑tranche facility, highlights the growing role of special‑situations funds in supporting the capital‑intensive long‑term care sector.**

Renewable Power Acquisition Hull Street purchased First Light USA from PSP Investments, acquiring nearly 1,400 MW of clean‑energy generation assets in the Northeast. The deal adds a substantial renewable portfolio to Hull Street’s infrastructure platform, aligning with investor demand for stable, inflation‑linked cash flows from green power.

Direct‑Lending Fundraise Barings secured more than $19 billion in commitments for its Global Direct Lending strategy, marking one of the year’s largest private‑credit raises. The capital will be deployed across mid‑market loan opportunities, reinforcing the firm’s position as a leading source of non‑bank financing amid tightening bank credit conditions.

AI‑Infrastructure Joint Venture Blackstone committed $5 billion to a joint venture with Google to build a U.S.‑based AI‑infrastructure business, targeting 500 MW of capacity by 2027. The partnership couples Blackstone’s capital with Google’s TPU technology, aiming to meet surging demand for compute power from generative‑AI startups and enterprise workloads.

Industrial Stake Exit KKR divested its remaining 10.57% holding in Kokusai Electric through a Nomura‑coordinated block sale, completing the firm’s exit from the Japanese industrial conglomerate. The disposal returns capital to KKR’s fund, allowing reallocation toward higher‑growth opportunities in technology and health sectors.

Health‑Tech Growth InvestmentVerdane backed Berlin‑based ETERNO with a growth injection to accelerate its AI‑native operating system for outpatient care. The investment, part of a broader European push to consolidate health‑tech assets, is intended to scale the platform’s zero‑churn enterprise pipeline and capture early‑stage cloud adoption in the medical services market.*