Private Equity 3 Hours

Last updated: June 16, 2026, 5:30 AM ET

European Defence Tech

European firms outline a plan to capture €5bn in domestic defence‑technology contracts by 2030, citing a gap left by U.S. and Chinese suppliers. The strategy hinges on joint ventures between state‑owned manufacturers and private investors, with a target of €1.5bn in venture capital over the next five years. Analysts note that the plan could attract €300m of foreign direct investment if the EU’s “defence‑tech fund” launches as scheduled.

Nordic Leisure Exit

Altor, Strawberry, and TDR Capital agreed to sell Nordic Leisure Travel Group for $846m, valuing the group at roughly $1.1bn pre‑tax. The deal covers brands such as Ving, Spies, and Tjäreborg, plus 26 concept hotels in Spain and Greece. Buyers will acquire a 61% stake, while the sellers retain a 39% minority interest, allowing them to benefit from potential upside as the travel sector rebounds.

Ancestry Refinancing

Blackstone’s Ancestry is lining up a $2.25bn loan led by Bank of America to refinance existing debt, aiming to reduce interest costs by an estimated $120m annually. The genealogy platform, which serves 140 million users worldwide, plans to use the proceeds to fund a new data‑analytics platform that could expand its subscription base by 15% over the next two years.

Equadis Buyout

Cathay Capital has taken a majority stake in Equadis, a product‑data Saa S firm with over 600 clients including Procter & Gamble, Unilever, and Nestlé. The transaction values Equadis at approximately $350m, reflecting its $45m annual recurring revenue and projected 20% growth rate. Cathay’s investment will accelerate Equadis’ expansion into North America and Asia Pacific.

Accountancy Expansion

LDC invested in Fortus, a UK‑based accountancy firm that employs 115 specialists. The deal, worth £12m, will fund Fortus’ acquisition of a boutique audit practice in Manchester, expanding its client portfolio to include four additional Fortune 500 companies.