Private Equity 3 Days

Last updated: May 4, 2026, 8:30 PM ET

Private Equity Dealmaking & Exits

SK Capital concluded two significant portfolio maneuvers this week: the firm successfully sold three life science units—Noramco, Extractas Biosciences, and Purisys—to Siegfried Holding, while also exiting Phoenix Flavors & Fragrances to Turpaz Industries Ltd. In contrast to these divestments, Carlyle Group bolstered its healthcare technology footprint by acquiring two revenue cycle management firms, Knack RCM and Equalize RCM, with the founders of both entities choosing to reinvest a portion of their proceeds. Meanwhile, the trend of private equity firms backing essential home and commercial services continues, as Audax’s sale process for Nextech advances, with bidders reportedly valuing the commercial HVAC company at 15 times EBITDA, suggesting a potential $1.5bn exit.

In consolidation activity across niche sectors, Vasco, backed by PE capital, expanded its footprint in sports facility construction by acquiring court contractors Howard B. Jones & Son and Court Surfaces of Florida. Similarly, within managed IT services, Riata Capital-backed COEO Solutions snapped up S-NET Communications to enhance its offerings for multi-location mid-market enterprises. Elsewhere, IFM Investors-backed Mobius Renewables completed a major acquisition in the renewable energy space, securing biogas assets from Air Liquide across the US, France, Norway, and Sweden, including six US landfill gas-to-RNG sites.

Capital Raising & Firm Strategy

Venture capital activity saw a major infusion, with prominent investor Katie Haun announcing the closure of new funds totaling $1 billion, specifically targeting investments in blockchain and cryptocurrency startups. On the operational front, RoundTable, a mid-market firm, has brought on Amardeep Kahlon as an operating partner to drive value creation within existing portfolio companies and assist in due diligence for new acquisitions. Sector-specific investments also saw movement, as Bain Capital, Sixth Street, and Harvest Partners provided further backing to home remodeling services provider Power Home Remodeling, with Harvest retaining its status as the largest backer. Furthermore, the wealth management sector attracted fresh capital, as Integrum, Lightyear, and Ontario Teachers’ committed to investing in advisor Allworth Financial.

Sector Trends and IPO Preparations

The essential services sector remains a hot area for PE activity, evidenced by the ongoing sale of HVAC and plumbing firm Sierra Platform by SE Capital to Redwood Services, a Memphis-based platform focused on home services. This interest in adjacent sectors like remodeling and landscaping is expected to continue, according to dealmakers tracking Audax’s Nextech sale. Separately, one PE-backed entity is testing public markets, with emergency medical services provider GMR setting its IPO pricing terms in Lewisville, Texas. In consumer health, Avista unveiled its Birchwell Consumer Health platform and immediately executed an add-on acquisition, purchasing therapeutic skincare brand Bag Balm from a seller group led by Gemini Investors.

Technology Focus and Talent Recognition

While many market participants are focusing on the integration of AI, some venture capitalists are betting on the foundational or less-hyped elements of the technology, with one partner noting his portfolio is filled with these "boring parts of AI". European technology investment appears to be taking a distinct path on AI compared to Silicon Valley's approach, with European firms also watching promising future-of-compute startups scouted by VCs. In M&A news, SAP has agreed to acquire German AI startup Prior Labs. On the talent side, the industry recognized its rising stars, as several professionals from firms including Step Stone and LGT Capital Partners were included in Private Equity International's latest "Future 40 Leaders" list focused on the secondaries market.