Private Equity 3d Briefing
×Deals & Exits
Kinderhook Industries pehub.com agreed to take home health and hospice provider Enhabit private for $1.1 billion, offering $13.80 per share in cash. Separately, KKR pe-insights.com outbid rivals to secure a majority stake in XCL Education Holdings for approximately $1.3 billion. In the software sector, KKR pe-insights.com is exploring a sale of its BMC Helix business that could value the AI-driven IT service management unit at around $1.5 billion. The Crestview pehub.com-backed marketing firm One Magnify acquired Optimal’s performance marketing business, while EQT pehub.com-supported Scale Microgrids purchased Reload to advance its energy solutions platform. L Squared pehub.com purchased Functional Devices, with the sellers reinvesting alongside the new owner. Frazier Healthcare pehub.com-backed Rev Spring bought healthcare technology firm Trust Commerce from Waud Capital Partners. Goldman Sachs pehub.com-backed CSD acquired autism services provider Behavior Change Institute.
Mid-Market & Sector Consolidation
Green Heron pehub.com invested in Regency Plumbing Contractors, with the executive team retaining a significant stake. GHK Capital pehub.com bought architecture and engineering firm CPL, which employs over 500 people across the eastern U.S. Haveli pehub.com backed software company Sirion to fuel product innovation and global expansion. Vistria pehub.com acquired insurance holding company Lumen Holdings, which underwrites coverage across more than 30 states. Turning Rock pehub.com exited its investment in food manufacturer Ameri Qual, majority-owned by the Harlan family. Bluestone Equity Partners pe-insights.com formed a three-year partnership with USA Archery ahead of the 2028 Olympics, strengthening its sports portfolio.
Capital Raises & Market Access
Broadband provider Vero Networks pehub.com secured $500 million from an investor group led by Hamilton Lane, Braemont Capital and Delta-v Capital. Ardian pe-insights.com partnered with Legal & General to open private equity to 5.6 million UK defined contribution savers, marking a significant distribution channel expansion. Qatar Investment Authority pe-insights.com committed several hundred million dollars to 5C to support its private credit expansion. The dealmaking rebound is fueling capital deployment, as global buyout value pe-insights.com surged to $904 billion in 2025, with firms adapting to a "12 is the new 5" holds reality.
Strategy & Secondaries Trends
Industry leaders at the PEI NEXUS 2026 pehub.com conference noted a recovery in deployment and distributions. Insights from Thoma Bravo pehub.com and New York’s Anastasia Titarchuk highlighted how GPs and LPs are navigating AI disruption. The growing use of continuation vehicles is reshaping liquidity, with 40% of GPs secondariesinvestor.com expecting to consider a CV within two years, primarily to return capital to existing LPs. A Lazard secondariesinvestor.com report found that mid-market GPs' flagship fund commitments are increasingly equivalent to 50% or more of their latest vehicles. Bain also observed that CV-on-CVs are becoming more prevalent as sponsors hold trophy assets longer.
Geographic & Sector Rotation
Europe pehub.com is drawing capital as dealmakers assess U.S. tariff uncertainty, with Permira noting increased strategic interest for assets like Evelyn Partners. That UK wealth manager was sold to Nat West by Permira pehub.com and Warburg Pincus for £2.7 billion, showcasing a long hold and the evolution of UK wealth management M&A. In energy, private equity firms pe-insights.com are eyeing a potential $2 billion sale of Permian Basin assets from Conoco Phillips. The sports sector remains active, with India’s IPL pe-insights.com emerging as a serious private