Private Equity 24 Hours

Last updated: July 13, 2026, 11:30 PM ET

Private Equity Dealmaking and Exits

CAI Capital completed its exit of HVAC provider Custom Air to Service Logic Holdings Canada after an eight-year holding period. During its ownership, CAI Capital expanded Custom Air's geographic reach and service offerings through five add-on acquisitions. In another divestment, Wynnchurch sold its stake in flow control specialist Flo Works to Ferguson for $1.6 billion, representing a 10x adjusted EBITDA multiple. Mill Point Capital finalized its acquisition of Total Safety Supplies & Solutions from Littlejohn & Co.'s portfolio company, Total Safety US. Separately, HIG Capital’s OB Streem acquired Med Frigo in Greece, a company specializing in cold-chain logistics for aquaculture producers.

Sector Consolidation and Platform Building

Warburg-backed Bond Vet announced a merger with Small Door Veterinary, creating an entity that will manage over 55 clinics across the Northeast, Mid-Atlantic, and Midwest regions, with plans for further expansion. Atlas Holdings-backed Stryten Energy acquired C&D Trojan Battery, a KPS-backed company, establishing Stryten as a significant player with 15 battery manufacturing facilities and 3,700 employees across the U.S. AE Industrial Partners purchased powder spray producer Powder Alloy, forming a new specialty materials platform. Broadwing-backed Lehr added emergency vehicle upfitting assets from Pro Logic ITS, marking its tenth add-on acquisition and extending its presence in the Southeast.

Fundraising and Strategic Initiatives

Nous Research, an agent maker for Hermes, is at a $1.5 billion valuation, looking to raise at least $75 million with participation from Robot Ventures and USV. Arctos made its debut in GP financing with a $6.2 billion strategy, which is expected to remain relevant across fundraising cycles. Nordic Capital, Bridgepoint, and Ardian are in water management, defense, and battery storage, respectively. Nordic Capital sees significant investment opportunities in water infrastructure, while Bridgepoint is backing Danish defense firm UMag, and Ardian is taking a majority stake in German battery-tech firm Munich Electrification with plans for expansion.

Secondaries Market Activity and Talent Moves

Ardea Partners has hired a managing director from PJT to bolster its secondaries advisory capabilities, reflecting a trend of talent movement in the advisory and buyside sectors. Moelis is also expanding its LP-led secondaries business by recruiting a team from Evercore, including a vice-president who will join as a managing director to lead the build-out. The secondaries market is seeing increased seller activity due to current market conditions, as discussed by leaders from LGT Capital Partners, Dawson Partners, and Pomona Capital.

Venture Capital and AI Investments

Helsing has with backing from Goldman Sachs and Lightspeed. Anthropic has recruited Monzo cofounder Tom Blomfield to its AI compute team, signaling a continued focus on artificial intelligence talent. Vesterra Capital Partners, formerly Comvest Private Equity, has rebranded, while Sapphire Ventures' Anders Ranum highlighted the importance of understanding the gap between public market software multiples and private market AI valuations.

Global Market Trends and Policy

Sixth Street is as it expands its regional presence, having already investigated opportunities in Japan and India. In the UK, pension schemes' shift towards private markets is supported by policy and infrastructure, but the pace depends on fee structures and access to growth capital, according to Mansion House Accord discussions. Korean pension fund KBIZ is for 2026, aiming to commit 300 billion won.