Private Equity 24 Hours

Last updated: June 16, 2026, 11:31 PM ET

Technology & Software Consolidation

Private equity firms are making aggressive moves in the software sector, with SpaceX acquiring Cursor for $60 billion in what ranks as the year's largest startup M&A deal, giving the aerospace company entry into enterprise software development as AI-assisted coding transforms how large corporations approach development. Meanwhile, Rubicon invested in CaseWorthy, a provider of case management software serving non-profit and government organizations, and Teleo-backed Flatirons acquired enterprise AI platform Scope AR, expanding its technical content and task management offerings for aerospace, aviation and defense clients. In cybersecurity infrastructure, Francisco Partners acquired EfficientIP, which provides DNS, DHCP and IP address management security software, while Lead Edge Capital acquired electric components procurement platform Elektrik, targeting the growing demand for data center infrastructure support services.

Healthcare & Medical Device Investments

Healthcare technology attracted significant private capital as CVC secured majority control of WillowWood, a manufacturer of prosthetic liners, feet, knees and related technologies for amputees. The medical sector also saw Chronograph raise over $140 million from Sixth Street Growth, with existing investors Summit Partners, Carlyle Alp Invest, Nasdaq Ventures and Sidekick Partners maintaining minority positions in the fintech firm serving institutional investors. Additionally, Cleargate Capital invested in Fellow Health Partners, which supports more than 500 clinicians across approximately 50 healthcare organizations nationwide, reflecting continued interest in healthcare technology platforms.

Manufacturing & Industrial Rollups

Industrial consolidation continued across multiple sectors as DelCam-backed Space Age Electronics acquired SprinkGuard, expanding the fire and life safety equipment manufacturer's product portfolio. In Europe, Investindustrial-backed PiovanGroup agreed to acquire Aasted, adding process equipment and automation capabilities for confectionery and bakery industries. Spanish-focused Alantra Private Equity added two dental laboratories to its AIVORIQ platform, which now comprises more than 20 laboratories generating nearly €40 million in annual revenues, while Kian-backed Spatco acquired Discovery Tank Testing and Tank Wizards to strengthen its turnkey infrastructure services for fueling, environmental and EV charging markets.

Restaurant & Consumer Acquisitions

Restaurant and consumer brands saw notable private equity activity as Long Range Capital agreed to acquire Pizza Hut for $2.7 billion from Yum! Brands, taking on one of the world's most recognized but troubled restaurant chains. The deal excludes Pizza Hut China operations, with separate reports indicating the U.S. business valued between $1.2-$1.5 billion. In the dairy space, Hoffmann Family of Companies acquired Cedar Crest Ice Cream, with Renato DePaolis, CEO of portfolio company Oberweis Dairy, assuming leadership of the brand. Separately, Gemspring-backed Residence acquired influencer marketing agency GateMaker, expanding its network of nine independent creative companies headquartered in Los Angeles.

Professional Services & Advisory Platforms

The professional services sector attracted platform investments as LGP acquired Cumming Group from New Mountain, adding an advisory firm serving over 4,000 clients including 41 Fortune 100 companies. LDC invested in Fortus, an accountancy business with 115 specialists across audit, tax and advisory services, while Cathay Capital acquired majority stake in Equadis, a product data Saa S firm serving over 600 customers including Procter & Gamble, Unilever and Nestlé. These moves reflect private equity interest in building scaled professional services platforms with recurring revenue streams.

Government & Public Sector Technology

Public sector technology investments included Renovus-backed xFact acquiring govtech firm Stonewall, expanding its technology and digital transformation solutions for government clients. CAI Capital-backed GreenArrow acquired electrical contracting firm HBC Company, strengthening its transportation infrastructure services portfolio based in East Chicago, Indiana. In defense technology, BAE Systems invested €50 million in VCs Lakestar and Expeditions, while ChapsVision prepared to replace Palantir in a major contract with the French intelligence agency, signaling potential shifts in European defense technology procurement.

Portfolio Company Exits & Secondary Activity

Several portfolio companies prepared for exit as HIG Capital exited its investment in Bluebird through a sale coupled with founder-led recapitalization. Apax Partners readied Oncourse for sale, the residential home warranty and repair claims services company carved out from American Water Works in 2021. European exit activity included Altor, Strawberry and TDR Capital exiting Nordic Leisure Travel Group for $846 million, with the company operating brands including Ving, Spies and Tjäreborg across 26 concept hotels in Spain and Greece. On the institutional side, Japan Science and Technology Agency began investing in infrastructure secondaries, though personnel shortages challenge direct investment capabilities despite a "fully diversified" portfolio.

Strategic Shifts & Market Commentary

Major strategic repositioning emerged as Jardine Matheson pivoted to private equity, with the 194-year-old Hong Kong conglomerate recasting itself as an active investor through a $500 million buyback and asset sales. Carlyle sought a private equity comeback according to global head John Redett, who noted improvements in the firm's U.S. operations. Regulatory focus intensified around PIK instruments and emerging manager opportunities as HSBC targeted sophisticated individuals and family offices for wealth management expansion. Meanwhile, Playground Global's decade-long bet on hardware appears prescient as the firm's focus on science and engineering breakthroughs beyond software gains traction amid renewed interest in deep tech investments.