Private Equity 3 Hours

Last updated: June 16, 2026, 11:32 AM ET

M&A Activity

Teleo-backed Flatirons acquired enterprise AI platform Scope AR as the Boulder-based technical content management provider expands into augmented reality solutions for aerospace and defense clients. Meanwhile, LGP purchased advisory firm Cumming Group from New Mountain, adding a platform that serves over 4,000 clients including 41 Fortune 100 companies to its portfolio. In a separate deal, Gemspring-backed Residence bought influencer marketing agency GateMaker in Los Angeles, consolidating nine independent creative companies under one roof. Francisco Partners completed the acquisition of EfficientIP, a cybersecurity software provider specializing in DNS, DHCP and IP address management solutions.

Portfolio Company Moves

Long Range Capital agreed to acquire Pizza Hut from Yum! Brands for $2.7 billion, taking on one of the world's most recognizable restaurant brands as the fast-food chain seeks revitalization under private ownership. The transaction excludes Pizza Hut China operations. Separately, Hoffmann Family of Companies purchased dairy brand Cedar Crest Ice Cream, with Renato DePaolis, CEO of portfolio company Oberweis Dairy, assuming leadership of the acquired business. Apax Partners is preparing residential warranty platform Oncourse for sale this year, while Lead Edge Capital acquired Elektrik as private equity firms continue targeting specialized service businesses.

Strategic Shifts

Chaps Vision will replace Palantir in a major contract with France's intelligence agency, marking a significant win for the French technology company in national security applications. HSBC is targeting sophisticated individuals and family offices as part of its wealth management expansion, while U.S. regulators increase scrutiny on problematic payment-in-kind (PIK) instruments. The Japanese Science and Technology Agency began investing in infrastructure secondaries as senior manager Keigo Yumino noted the university endowment's portfolio is fully diversified, though personnel shortages persist in building direct investment capabilities.

Deal Themes

Private equity firms are increasingly betting on data center build-outs as AI infrastructure demands accelerate across global markets. Financial services dealmaking demands deep sector expertise according to Peter Yordán of J.C. Flowers & Co and Kyle Griswold of FTV Capital, who highlight how specialization, technology and AI are reshaping both deal flow and value creation strategies. The Anthropic shutdown has implications for European AI development, potentially reshaping how continental investors approach AI-related investments and partnerships.