Private Equity 3d Briefing
×European Buyouts
TDR Capital pehub.com-backed David Lloyd Leisure has acquired Aspria, a high-end operator of upscale member clubs across Germany, Belgium, Italy and Spain. The deal expands the fitness group's premium portfolio. Waterland pehub.com has acquired Cooper Turner Beck (CTP), a provider of safety-critical fastener services for the energy, construction, and heavy industries. The Dutch firm is building a platform in industrial services. Bain Capital pe-insights.com agreed to acquire a majority stake in Tingstad, a Swedish family-owned distributor of non-food consumables, marking a push into Nordic non-cyclical consumer goods. Ardian pehub.com agreed to sell its stake in management consulting firm Nova Reperta to Tilleghem, exiting a portfolio investment.
North American Deals & Exits
Lone Star pehub.com completed the sale of industrial manufacturer SPX Flow to ITT for over $4.7 billion, more than doubling its 2022 take-private investment. Warburg Pincus pe-insights.com is preparing a potential $1 billion investment in Global Eggs, targeting an $8 billion egg production empire. CCMP pehub.com is running an early-stage sale process for Canadian facilities manager BGIS, with sources indicating a potential price tag of approximately $2.2 billion based on a 12x EBITDA multiple. Boyne Capital pehub.com sold utility contractor McKee to Mastec Inc., ending a recapitalization partnership begun in late 2022.
Industry Dynamics & Strategy
AI disruption pehub.com and extended hold periods dominated discussions at the NEXUS 2026 conference, where Hellman & Friedman’s Patrick Healy noted that "reality is rarely defeated" when navigating market cycles. Tariff uncertainty pehub.com is complicating valuations across the sector, according to advisory firm Alvarez & Marsal. Meritus Gas Partners pehub.com, an AEA Investors portfolio company, acquired Greens Welding Supply, continuing consolidation in the industrial gas and welding distribution space. Trilogy Capital pehub.com-backed SSRG, a Calgary-based security firm, purchased Elite Residential Concierge, expanding its luxury real estate services.
Secondaries & Fundraising
Coller Capital pe-insights.com partnered with Mediobanca Private Banking to offer Italian investors expanded access to evergreen secondaries funds, deepening its European distribution. The firm was also named Secondaries Firm of the Year for EMEA at the 2025 awards secondariesinvestor.com, while Goldman Sachs Asset Management won for the Americas secondariesinvestor.com. Danske Bank pe-insights.com scaled its alternatives mandate with Danish Industry pension fund to $245 million, highlighting continued institutional appetite for private markets. Hg Capital Trust pe-insights.com deployed approximately $62 million into co-investments in software firms One Stream and Septeo.
Sector-Specific Moves
Orion, CGF and Exiro pehub.com formed a new company, Exiro Nickel Company, to invest $200 million alongside Vale in Manitoba’s Thompson Mine Complex, signaling mining infrastructure investment. CVC pehub.com and Hartenberg-backed Future Life continued its UK fertility clinic roll-up with the acquisition of Herts & Essex Fertility Centre. Gemspring pehub.com made a follow-on investment in construction technology firm Sitemetric to fund product innovation and geographic expansion. Aurelius pehub.com opened new offices in Amsterdam, Milan, and Zurich to target SME opportunities across continental Europe.
Firm Updates & Talent
Littlejohn pehub.com appointed Shant Mardirossian as managing director and COO, a new role overseeing finance, legal, operations, and investor relations. BCP pehub.com sold United Utility Services, which supports municipal utilities, to Sandbrook Capital. The transaction details were not disclosed.