Private Equity 3 Days

Last updated: August 4, 2026, 5:30 PM ET

Private Equity Dealmaking and Acquisitions

Thoma Bravo set to sell Command Alkon, a software and platform technology provider for the heavy building materials industry, to Francisco Partners. Axum Capital agreed to acquire Barcode, a Los Angeles-based plant-based and hydration drink brand. Ridgemont has acquired Entact, a national provider of environmental remediation and geotechnical construction services, from JFLCO. Wynnchurch-backed Trimlite purchased doormaker Barnett Millworks, expanding its geographic reach into the Southeast market and strengthening its North American customer service capabilities. Wind Point Partners is acquiring ECI, a managed services provider to alternative asset managers and regulated financial firms, from H.I.G. Capital. Advent HarbourVest have agreed to acquire FNZ Bank in Germany, which connects over 50,000 financial advisers, 200 asset managers, and more than 400 distribution partners. EIP OceanSound-backed Convey has acquired Selectron, a company specializing in government and utility software, bringing together two providers of omnichannel communications and engagement operating systems. Sheridan Capital has acquired Carolina Components Group, a provider of custom-engineered bioprocessing assemblies. KKR is in the process of taking Integer Holdings private in a $5.7 billion all-cash transaction that values the NYSE-listed medical device company. BV Investments is partnering with the leadership team of workforce compliance service provider Thomas & Company to support its growth. Nordic Capital is acquiring BWX Technologies' medical business for up to $800 million, focusing on radiopharmaceuticals. MetLife Investment has closed its third managed secondary transaction, raising approximately $1.2 billion for Met Life Investment Private Equity Partners Fund III, with Lexington Partners serving as the lead investor. AshGrove has backed 10x Banking, a provider of cloud-native core banking technology designed to modernize financial institutions' legacy infrastructure. Mutares has completed its acquisition of SABIC's engineering thermoplastics business in the Americas and Europe for $450 million, rebranding the unit as Nex Point Materials within a new chemicals and materials division. Apollo has agreed to acquire Maverick Water Group, an operator of alternative non-potable water systems, from Crosstimbers Capital Group. Waterland has acquired a majority stake in Norisol, a Danish provider of technical insulation, scaffolding, and marine solutions, which posted an operating margin exceeding 13% in 2025 and anticipates revenues surpassing DKr1 billion in 2026. TSG Consumer has taken a majority stake in Saltair, a body care brand, valuing the company at the high end of its category. Ardian has arranged new unitranche financing for Arche MC2, supporting a shareholding reorganization that will result in Montefiore Investment and Activa jointly controlling the French software publisher.

Fundraising and Investment Strategies

Apollo is approximately halfway to its target for Fund XI, which has a fundraising goal of $22 billion to $25 billion and began its capital raise in February. LGT Capital has launched its debut credit secondaries strategy, aiming to invest in LP-led, GP-led, and opportunistic deals with a focus on senior lending. Adams Street doubled its fund size with its latest flagship secondaries raise, securing $2.7 billion for its Fund 8 as part of a $5 billion secondaries program, with a target of a 50/50 split for LP-led and GP-led deployment, concentrating on North America and Europe. New York State Teachers' Retirement System (NYSTRS) plans to allocate up to $2.7 billion in commitments to private equity for its fiscal year 2027. KKR Arctos are considering the launch of a joint GP-led strategy, with KKR believing it can establish a significant business in this market segment. US investors have contributed an additional $100 million to Blue Earth's impact secondaries strategy, marking a second close for its debut dedicated secondaries fund. Index Ventures raised a new $2 billion fund, doubling down on its investments in artificial intelligence. Menlo Ventures' Matt Murphy indicated that AI is driving the firm toward larger deals and that the firm is looking for new opportunities, having learned from its relationship with Anthropic.

Venture Capital and Startup Funding

Global venture funding reached $65 billion in July, a 100% increase year over year, with the month setting a record for the highest number of billion-dollar venture rounds. A16z has backed Happy Robot at a valuation of $1.2 billion. Bending Spoons agreed to a $2.25 billion deal for Airtable, marking its first acquisition since its IPO. Zurich-based Exclaim has emerged from stealth, raising $4.95 million. Plural has backed a $43 million round for Ore Energy, a startup focused on next-generation batteries. European robotics startups have collectively raised more capital in the past six months than in the previous two years combined. June, a startup aiming to simplify AI adoption, has raised $20 million in pre-seed funding.

Market Trends and Sector Focus

Private equity is showing increasing interest in naval-centric deals, with the US Navy budget exceeding $300 billion, a figure larger than the GDP of most countries and many US economic sectors. Permira has agreed to sell Bio Catch, a fraud intelligence provider protecting over 760 million consumers globally, to Visa for $2.4 billion. Permira has also partially exited its investment in Reformation, a sustainable fashion brand, which raised $210.9 million in its IPO priced at the lower end of its expected range. KKR is acquiring a 50% stake in Total Energies' European onshore solar and wind business for €1.8 billion, following its $1.25 billion acquisition of Total Energies' North American solar business in late 2025. CVC and Partners Group are set to fully exit their investment in Żabka Group, Poland's largest convenience retailer, through a voluntary offer from Alimentation Couche-Tard valued at $8.6 billion. EnCap Flatrock sold Momentum Midstream, which operates a natural gas system with over 4,000 miles of pipelines, to Williams for $5.5 billion. Amerit Fleet Solutions is expanding its Canadian presence by acquiring Triple Diamond Truck and Trailer Repair.