Private Equity 24 Hours

Last updated: September 25, 2026, 2:08 PM ET

Private Equity

M&A — Industrials & Manufacturing

Audax Private Equity has agreed to sell GCG, a specialty wire and cable firm based in Chicago, to electrical distributor Rexel. GCG’s 2026 revenue is on pace to exceed $1.1bn. Elsewhere, Oaktree Capital Management finalized the €810m sale of Italian power equipment manufacturer COL Group to Eaton. Founded in 1920 near Turin, COL employs over 400 people across four product lines. Clearlake Capital-backed Prime Source Brands added JACLO in its 12th acquisition since 2020; the Cranford, New Jersey-based company has made decorative plumbing fixtures since 1901.

Century Park Capital Partners’ portfolio company Total Access Elevator acquired Los Angeles-based American Elevator, an independent elevator maintenance, repair, and modernization provider.

M&A — Financial & Insurance Services

Bay Pine-backed Relation Insurance purchased the assets of LaPlaca Insurance Agency in Chalfont, Pennsylvania. Founded in 1988, LaPlaca provides business insurance and employee benefits.

Madison Dearborn Partners agreed to take Marygold private in a two-share deal. Marygold is the holding company of Walnut Creek, California-based commodity ETF provider.

M&A — Healthcare & Life Sciences

Thoma Bravo, New Spring, and Phoenix Equity Partners are among the firms backing occupational healthcare, with at least six deals announced as demand grows for preventing workplace illness and injury. Arcventis agreed to take a majority stake in Aligned Modern Health, a Harbour Point-backed operator of 15 functional medicine and hormone health clinics.

Bridgepoint acquired a majority stake in Altano Group, an equine veterinary clinic network. Ufenau Capital Partners will exit its investment from Altano.

M&A — Consumer & Retail

Inflexion invested in French nail care brand Manucurist. The Paris-based company, founded in 2016, sells plant-based, vegan nail products.

Fundraising & Institutional Capital

High Post Capital hired David Walsh, a former US Navy intelligence officer, to lead its new aerospace and defense vertical. Lightspeed Venture Partners targets $250M for a new India fund focused on early-stage AI, aligning its India fundraising cycle with global funds.

Cherry Ventures appointed Tatiana Shalalvand as a partner, with a focus on backing founders from the Legora and Lovable networks. Sifted released its guide to Europe’s leading pre-seed investors in 2026.

Private Markets — Space, Innovation & Broader Trends

The MSISV 2026 EMEA cohort features startups ranging from space-based healthcare to sustainable materials. Europe’s fastest-growing spacetech startups are hiring aggressively, with team sizes surging.

Bonus structures for limited partners vary wildly across private equity’s largest institutional investors.

Tech Layoffs & Corporate Restructuring

U.S. tech layoffs from January through August reached at least 94,046, up 16.8% year-over-year, as big companies shift spending to AI.

Events & Promotions

A $75 Tech Crunch Disrupt 2026 Expo+ Pass is available for those affected by layoffs. The last 24 hours to save up to $200 on a full pass is now. A 50% discount on a second pass is available for bringing a co-founder or colleague.

Five reasons to get excited about the Sifted Summit returning to London next week.

Deal Flow Summary

The past 24 hours saw a flurry of mid-market activity across industrials, insurance, healthcare, consumer, and financial services. Notable larger transactions include Audax’s sale of GCG (revenue exceeding $1.1bn) and Oaktree’s €810m COL Group exit. Thoma Bravo, Phoenix, and Quad-C are among those targeting occupational health, while Clearlake’s Prime Source continues its buy-and-build strategy. Lightspeed’s new $250M India AI fund signals continued appetite for early-stage technology in the region, even as broader tech layoffs accelerate amid AI spending shifts.