Private Equity 3 Hours

Last updated: May 4, 2026, 11:30 AM ET

Essential Services & HVAC Sector Activity

The essential home services vertical saw active deal flow, with SE Capital divesting its HVAC and plumbing firm, Sierra Platform, to Memphis-based platform Redwood Services. This transaction occurs as another major HVAC service provider, Nextech, advances through its sale process, with bidders reportedly valuing the commercial unit at approximately $1.5bn, or 15x EBITDA, as Audax moves bidders into the second round. Dealmakers anticipate further activity in adjacent sectors like roofing, landscaping, and remodeling, signaling continued private equity appetite for fragmented, recession-resilient service businesses as seen with Nextech's progress.

Middle Market Buyouts & Growth Equity

Firms are continuing to deploy significant capital into established middle-market platforms, demonstrated by Bain Capital, Sixth Street, and Harvest Partners backing Power Home Remodeling. Harvest Partners, the existing sponsor, is set to retain its position as the largest shareholder following the recapitalization. Meanwhile, the energy transition space saw IFM Investors-backed Mobius Renewables expanding its footprint through the acquisition of Air Liquide’s biogas operations across the US, France, Norway, and Sweden, including six U.S. landfill gas-to-RNG sites.

Technology & Event Marketing

In technology M&A, enterprise software giant SAP agreed to purchase German AI startup Prior Labs, reflecting ongoing strategic consolidation driven by artificial intelligence capabilities. Separately, venture capital event organizers are attempting to drive early commitment, with Tech Crunch offering a short-window promotion where attendees can secure a BOGO deal—50% off a second pass for its 2026 Disrupt conference if purchased before the May 8 deadline.