Private Equity 3 Days

Last updated: July 30, 2026, 5:30 AM ET

Mega-Deals and Sector Focus Dominate PE Landscape

Private equity firms are actively reshaping various sectors through significant acquisitions and carve-outs. Vista Equity Partners is set to acquire Quantios, a Saa S provider for trust and corporate services, from Hg and EQT to acquire Quantios. Separately, Open Gate Capital has agreed to acquire Merak, Knorr-Bremse’s rail HVAC unit to acquire Merak. In the healthcare technology space, AIP has completed the take-private buyout of Avanos Medical for $25 per share. Carlyle-backed Included Health is acquiring Firefly Health, while Apax is set to acquire medical packaging firm Centor and another plastic packaging company from Gerresheimer for €1.5bn packaging firms. HIG has acquired infrastructure services and engineering firm Avove, which focuses on regulated water and power markets acquires Avove.

Infrastructure and Technology Investments Continue

Investment continues to flow into infrastructure and technology platforms. Bain Capital is leading a $1.5bn investment in the infrastructure platform Eaton Fiber, aiming to accelerate Verizon's fiber broadband expansion across the US. Stonepeak and CMA CGM have finalized the formation of United Ports, with Stonepeak investing $2.4bn for a 25% stake. In the software realm, Bridgepoint is acquiring Lansweeper, a data platform that utilizes technology and AI to map IT networks. Mid Europa is set to acquire a construction software platform in Czechia, formed by uniting ÚRS, First Information Systems, and Callida.

AI's Growing Influence and Scrutiny in Dealmaking

Artificial intelligence is increasingly a focal point in private equity, though its value creation credentials face scrutiny. Some fear General Partners (GPs) may overpromise and underdeliver on AI's potential for topline growth. However, AI is also driving new investment cycles, with Schneider Electric’s VC Fund backing startups building AI infrastructure. Startups at the intersection of AI and cybersecurity have already raised $855 million across over 150 seed-stage rounds this year. Providence’s Karim Tabet noted that AI "fatigue" could indirectly boost live events, while also highlighting that opportunities in services, business, financial, and healthcare sectors are strong due to AI's productivity improvements.

Fundraising and Secondaries Activity

Fundraising remains robust, with TJC eyeing a $2bn final close for its seventh flagship fund, exceeding its target by $2bn. Secondaries funds are also demonstrating strong performance, with strategies focused on this area attracting significant capital commitments, despite representing only 4% of private real estate fundraising in 2025. Family office Green Bear is actively revamping its portfolio by tapping into the secondaries market, selling private equity fund stakes to reduce exposure to illiquid assets and favoring separately managed accounts for cost-efficiency benefits amid lower private equity returns. High-conviction deals gained favor from secondaries investors in the first half of the year, with AI disruption significantly impacting both LP-led and GP-led markets.

Strategic Acquisitions and Portfolio Moves

Several strategic acquisitions and portfolio adjustments are underway. Macquarie is reportedly preparing to sell Win Waste, a vertically integrated waste management company, which is expected to attract interest from strategics and infrastructure funds. BlackRock-backed Influence Media Partners is set to acquire Anthem Entertainment’s music assets for over $600 million, including catalogs with hits from various artists. Investcorp has acquired wealth management firm Berger Financial Group, which manages over $3 billion in assets for more than 3,800 clients. Carlyle has also backed cybersecurity firm Secturion, marking its first investment from its middle-market aerospace, defense & government and industrials platform.

Middle Market and Specific Deal Highlights

The middle market continues to see active dealmaking. ECP and KKR have agreed to acquire DCC Energy in a $7.7bn deal, taking the multi-energy sales and distribution business private. Cinven and La Caisse are jointly acquiring MGA Optio, which specializes in originating, underwriting, and managing specialty risk. Trans Digm is acquiring IGP-backed Prince & Izant for over $1bn, a manufacturer of brazing alloys and specialty metal components. In the franchise sector, FEP has acquired Australian Planet Fitness franchisee Bravo Fit.

European Expansion and Startup Funding

European startups are increasingly looking to expand internationally, even at the seed stage. Despite global macroeconomic concerns, the UK remains a significant market for private equity activity, taking a larger share of deals as investors move towards Europe. In seed funding, ETH Zurich spinout Zuri Q has raised $25.5 million. Meanwhile, AI rollup startup Dwelly has raised $170 million backed by EQT and General Catalyst. On the venture capital front, Bessemer and Atomico are reportedly in talks to lead The Exploration Company's funding round at a $2bn valuation.

Sector-Specific Deals and Investments

Specific sector deals include the acquisition of medical equipment company Riverpoint by Novanta in a $1.45bn deal, with Arlington Capital as the seller. Capitol Meridian is investing in aviation services firm RH Aero Systems, with the founding family remaining significant investors. Gemspring-backed Key Line has merged with utility services firm Palouse Power. Water tech firm Xylem is acquiring Eagle Tree-backed Water Fleet for $200 million to acquire WaterFleet. Carbyne-backed Suan Nutra is set to acquire a portfolio of natural ingredients businesses from IFF.

Operational Focus and Strategic Partnerships

Operational improvements and strategic partnerships are also key themes. Providence has made an additional investment in talent agency The Team, which will be used to acquire the founder's remaining ownership stake. AE Industrial Partners has appointed Leonard Dollaga as operating partner to help identify and assess new investment opportunities, particularly in national security and maritime sectors. Thoma Bravo has sold firmware provider AMI to Lattice Semiconductor, retaining an equity ownership interest in Lattice.

Venture Capital and Emerging Trends

Venture capital is focusing on emerging trends, with European VCs quietly cheering the chip rout, potentially creating opportunities. Middle-market technology companies, or "middleweights," are seen as poised for significant long-term gains from AI, rather than large incumbents or AI-native startups. Will Ventures led the Series A round for Throne Science, a startup developing an AI-powered toilet camera for gut health tracking.

Dealmaking in Services and Specialized Areas

Tower Brook's Joseph Knoll highlighted services as a strong area for opportunities, particularly in business, financial, and healthcare services where AI can significantly improve productivity and customer outcomes. Wynnchurch is taking industrial company Luxfer private for $17.37 per share. Mutares has agreed to acquire Free2move car-sharing business from Stellantis, which operates across 14 cities in Europe and the US.