Private Equity 3 Days

Last updated: July 13, 2026, 8:30 PM ET

Private Equity Deal Activity and Valuations

Private equity firms are actively engaged in a range of acquisitions and exits, with notable activity in the industrial and services sectors. CAI Capital Custom Air, an HVAC provider, to Service Logic Holdings Canada after an eight-year holding period that included five add-on deals. In a significant industrial consolidation KPS-backed C&D Trojan Battery, creating a combined entity with 15 manufacturing facilities and 3,700 employees. AE Industrial powder spray producer Powder Alloy, establishing a specialty materials platform. Broadwing-backed Lehr also expanded its reach by acquiring emergency vehicle upfitting assets from Pro Logic ITS, marking Lehr's tenth add-on acquisition. Wynnchurch exited its investment in flow control specialist Flo Works to Ferguson for $1.6 billion, representing a 10x LTM adjusted EBITDA multiple. Mill Point Capital finalized its acquisition of Total Safety Supplies & Solutions from a Littlejohn & Co. portfolio company, while Comvest Private Equity rebranded as Vesterra Capital Partners. Capital’s OB the acquisition of Med Frigo in Greece, focusing on cold-chain logistics for aquaculture exports.

Sector-Specific Investments and Strategic Platforms

Several private equity firms are building out specialized platforms and targeting attractive sectors. Warburg-backed Bond Vet merged with Small Door Veterinary, creating an organization with over 55 clinics across multiple U.S. regions, with plans for further expansion. Nordic Capital the attractiveness of the water treatment sector due to significant infrastructure investment needs and labor constraints. In parallel, Bridgepoint is backing Danish defense company UMag, with founders retaining a significant stake. Ardian is set to acquire a majority stake in German battery-tech firm Munich Electrification, aiming to fund expansion into adjacent markets. European water is seeing increased PE interest due to the substantial investment required for infrastructure upgrades and a shortage of skilled labor and specialized equipment.

Venture Capital and Funding Rounds

The venture capital landscape shows continued investment in technology, particularly in AI and specialized software. Hermes agent maker Nous Research is in talks to raise at least $75 million at a $1.5 billion valuation, with significant participation from Robot and USV. Anthropic recruited Monzo cofounder Tom Blomfield to lead its AI compute team. Helsing raised $1.8 billion, backed by Goldman Sachs and Lightspeed Venture Partners. Anders Ranum how institutional capital is navigating the valuation gap between public and private AI companies, emphasizing the importance of demonstrating tangible value. Yosemite, the firm founded by Reed Jobs, is continuing its focus on biotech.

Secondaries Market Activity and LP Strategies

The secondaries market is experiencing a surge in activity, driven by LP demand and market conditions. Partners tapped an MD from PJT for its secondaries advisory team, signaling continued talent movement in the sector. Moelis is building out its LP-led secondaries business, hiring a team from Evercore, including a vice-president who will lead the initiative. A podcast featuring senior leaders from LGT Capital Partners, Dawson Partners, and Pomona Capital discussed how current market conditions are encouraging sellers into the secondaries market. Arctos made a $6.2 billion GP financing debut with its Keystone strategy, which is expected to remain relevant across fundraising cycles.

Global and Regional Investment Trends

Global investment strategies are adapting to regional opportunities and regulatory landscapes. Sixth Street Asian sports deals as part of its regional expansion, exploring opportunities in Japan and India. The Korean pension KBIZ is seeking domestic blind-pool PE/VC funds for 2026, planning to commit 300 billion won. In the UK, policy, regulation, and infrastructure are supporting a shift towards private markets for pension schemes, though the pace will depend on fee structures and the availability of growth capital. GIC's leadership offers insights into the investment landscape, while Goldman Sachs notes that AI is making underwriting more challenging. Moldova's next prime minister is also identified as a private equity enthusiast.

Challenges and Opportunities in Technology and Infrastructure

The technology and infrastructure sectors present both opportunities and hurdles for investors. Nscale's £2 has encountered delays due to grid issues, highlighting infrastructure bottlenecks. The broader European entrepreneurial landscape is characterized by strong drive, but the responsiveness of capital markets remains a question. Discussions around in the UK are ongoing, with key individuals set to influence the direction. The "show me" era in venture capital, as described by Sapphire Ventures, emphasizes the need for demonstrable results from AI startups.