Private Equity 3 Hours

Last updated: June 15, 2026, 11:30 AM ET

Add‑On Activity in Construction

Ardurra, backed by Littlejohn, has expanded its presence in the Northeast by acquiring Kelly Engineers for an undisclosed sum, adding a portfolio of projects that span highway and transit infrastructure. The purchase follows Ardurra’s recent move into the region, which has positioned it to capture growth in federally funded roadworks. The deal signals a broader trend of consolidation in the specialty engineering space, where firms seek scale to compete for larger public‑sector contracts. Ardurra scoops up Kelly Engineers

Cash‑Rich Sale of a Clinical CRO

Capital has divested its stake in Celerion, a leading clinical pharmacology contract research organization, to a fund linked to THL Partners for $1.8bn. The transaction values Celerion at roughly $6.5bn, reflecting robust demand for clinical services amid a surge in biotech funding. The sale frees H.I.G. to redeploy capital into newer growth areas while THL gains a platform with a strong pipeline of clients across oncology and rare diseases. sells Celerion

Secondary Fund Grows for Small‑Deal Focus

Argosy Capital has doubled the size of its secondaries unit after raising $145m, expanding its capacity to target transactions between $100,000 and $10m. The capital raise positions Argosy to capitalize on a tightening supply of mid‑market secondary deals, as larger funds shift focus toward higher‑yield opportunities. The move also signals confidence in a recovering secondary market that has rebounded from pandemic‑induced volatility. Argosy doubles fund size

New Entrant Bets on Life‑Sciences Growth

Prime Radiant Partners, a nascent private‑equity advisory focused on healthcare and life sciences, has deployed $50m in its inaugural investment in Cellares, a company that develops advanced imaging diagnostics. The stake represents a growth‑equity round aimed at accelerating product commercialization and expanding the company’s clinical trial network. Prime Radiant’s entry into the market underscores a renewed interest in niche life‑science platforms that can scale quickly with modest capital outlays. Prime Radiant invests in Cellares