Private Equity 24 Hours

Last updated: June 19, 2026, 11:30 PM ET

Strategic Acquisitions and Take-Privates

EQT’s pursuit of Intertek has gained significant momentum as the firm secured backing from the Abu Dhabi Investment Authority and Mubadala for its £10.9bn take-private of the FTSE 100 testing group. This deal, valued at roughly £11bn according to separate reports, represents a major consolidation within the testing and certification industry. Simultaneously, EQT expanded into the space sector with the acquisition of Exolaunch, a German specialist in satellite deployment and mission management. This transaction marks the firm’s first foray into the aerospace industry, reflecting a broader trend of private equity capital flowing into specialized mission-critical infrastructure.

Infrastructure and Utility Interest

State-owned utility Uniper is currently attracting significant interest from private capital, with approximately 10 parties including KKR, Brookfield, and CDPQ signaling their intent to bid for the German firm. The competitive process underscores the growing appetite for energy assets that provide stable, long-term cash flows. In the private debt space, Apollo is finalizing a refinancing package of $574m for Eolo, the Italian fibre and wireless operator currently under the control of Partners Group. This shift toward private debt solutions highlights the reliance on non-bank lenders to manage the capital structures of large-scale European infrastructure projects.

Sports, Industrial Carve-outs, and Defense

New York-based MSP Sports Capital has secured a majority stake in the New Zealand Sail GP Team, marking the firm’s formal entry into the league. In the industrial sector, Mutares has initiated a carve-out of Synthomer, which operates as a supplier and producer of acrylic acids and esters. Meanwhile, the defense sector remains a focus for specialized managers as Eric Slesinger’s 201 Ventures prepares to launch its second fund dedicated to the defense industry, capitalizing on increased geopolitical demand. This aligns with JF Lehman’s FSG, which recently expanded its footprint in the U.S. nuclear navy supply chain.

Market Sentiment and Operational Challenges

Private capital’s engagement with AI continues to evolve, with analysts suggesting that the current build-out is driven by fundamental shortages in infrastructure rather than speculative bubbles, pointing toward long-term asset inflation for those who control scarce resources. Despite these optimistic outlooks, internal operational hurdles persist within the ecosystem, as Cleo employees have surfaced allegations regarding a toxic workplace culture, citing deep unhappiness and a lack of clear direction. In the broader European startup environment, regulatory rulebooks are being rewritten by figures like Iwona Anna Biernat, while Legora has issued warnings to investors regarding unauthorized share trading activities. Amid the push for growth, firms like Nabla are navigating a fast-paced environment characterized by intense scaling pressures, while broader industry forums at VivaTech have emphasized European solidarity as a central theme for future cross-border collaboration.