Private Equity 3 Days

Last updated: August 4, 2026, 11:30 PM ET

Dealmaking and Acquisitions

Thoma Bravo is 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-headquartered 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 has acquired ECI, a managed services provider for 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 entities that offer omnichannel communications and engagement operating systems. KKR is set to take Integer Holdings private in an all-cash transaction valued at approximately $5.7 billion, marking a carve-out of the medical device company. Sheridan Capital has acquired Carolina Components Group, a provider of custom-engineered bioprocessing assemblies. TSG Consumer has acquired a majority stake in Saltair, a body care brand, valuing the company at the top of its category. Waterland has taken 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 expects revenue to surpass DKr1 billion in 2026. Mutares has completed its largest deal to date, acquiring SABIC's engineering thermoplastics business in the Americas and Europe for $450 million, which will be rebranded as Nex Point Materials. Apollo has agreed to acquire Maverick Water Group, an operator of alternative non-potable water systems, from Crosstimbers Capital Group. EnCap Flatrock sold Momentum Midstream, which operates a natural gas system with over 4,000 miles of pipelines, to Williams for $5.5 billion. CVC and Partners Group are set to fully exit their investment in Żabka Group, Poland's largest convenience retailer, as Alimentation Couche-Tard makes an $8.6 billion bid. KKR will acquire a 50% stake in Total Energies' European onshore solar and wind business for €1.8 billion, following its earlier acquisition of Total Energies' North American solar business for $1.25 billion. Amerit Fleet has expanded its Canadian presence by acquiring Triple Diamond Truck and Trailer Repair, an MTO-certified commercial truck and trailer maintenance and repair provider. Cortec Group is preparing to sell A1 Garage Door Service, a residential garage door maintenance services provider. McNally Capital has taken a majority stake in Tenica, driven by growing demand for defense and intelligence services. Permira has agreed to sell Bio Catch, a behavioral-based fraud intelligence provider protecting over 760 million consumers globally, to Visa for $2.4 billion. 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. AshGrove has backed 10x Banking, a provider of cloud-native core banking technology for financial institutions. BV Investments is partnering with CEO Nate Kenney to support the growth of workforce compliance service provider Thomas & Company.

Fundraising and Investment Strategies

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. MetLife Investment has closed its third private equity fund, Met Life Investment Private Equity Partners Fund III, with approximately $1.2 billion raised, featuring Lexington Partners as the lead investor. Apollo is reportedly halfway to its target for Fund XI, which has a fundraising goal of $22 billion to $25 billion and began raising capital in February. Adams Street doubled its fund size with its latest flagship secondaries raise, securing $2.7 billion as part of a $5 billion program that will focus on a 50/50 split for LP-led and GP-led deployment in North America and Europe. The EU has officially opened its €5 billion tech superfund. Nordic Capital is acquiring BWX Technologies' medical business for up to $800 million in a radiopharma investment. KKR Arctos are considering the launch of a GP-led strategy, with KKR believing it can establish a significant business in this sub-segment. US investors have contributed an additional $100 million to Blue Earth, enabling the specialist impact investing firm to hold a second close for its debut dedicated secondaries fund. New York State Teachers’ Retirement System (NYSTRS) plans to allocate up to $2.7 billion to private equity commitments for fiscal year 2027.

Venture Capital and Technology Investments

Global venture funding reached $65 billion in July, a 100% increase year-over-year, with the month marking a record number of billion-dollar venture rounds. A16z has backed Happy Robot at a valuation of $1.2 billion. Bending Spoons completed its first acquisition since its IPO, a $2.25 billion deal for Airtable. June, a startup focused on simplifying AI adoption, has raised a $20 million pre-seed round. Menlo Ventures' Murphy indicated the firm is pushing towards larger deals in AI and is deploying $3 billion in new capital, emphasizing the firm's relationship with Anthropic and identifying future opportunities. Index Ventures raised a new $2 billion fund, doubling down on its AI investments. European robotics startups have collectively raised more capital in the past six months than in the preceding two years combined. Exclaim Robotics a Zurich-based company, has emerged from stealth and raised $4.95 million. Plural has backed a $43 million round for Ore Energy, a next-generation battery startup. Nscale will provide compute resources to AI researchers at Oxford, UCL, and Imperial.

Market Trends and Industry Insights

Private equity is showing increasing interest in US naval investments, bolstered by the US Navy's budget exceeding $300 billion. LPs are pushing for improved GP reporting standards and are seeking to enshrine these in agreements. Impact investing is facing unfair scrutiny due to its association with ESG, according to GPs. Blue Owl is strengthening its talent in Tokyo. Graphite's Mike suggests that the rise of AI-generated content could lead to a re-rating of companies with "rights-clean" data, as such data is a critical input for AI development. The PEI Group's podcast miniseries, "Data Dive," analyzes the investment strategies of the world's largest PE investors based on the Global Investor 150 ranking. Hong Kong's new listed alternative investment trusts have outlined potential use cases, investment horizons, fee models, and likely adopters. Top commercial firms are considering private equity investment amidst concerns surrounding AI, while Castlelake's deadline for Easyjet has been extended to align with Apollo's deadline on August 7. The skills developed in product management are argued to be as relevant for leadership in tech as traditional roles like COO or CFO. The increasing prevalence of AI content could lead to a revaluation of companies possessing "rights-clean" data, which serves as a crucial input for AI systems.