Private Equity 8 Hours

Last updated: May 4, 2026, 2:30 PM ET

Private Equity Dealmaking & Exits

Private equity activity saw several platform acquisitions and exits across diverse sectors in the last reporting period. SK Capital finalized the divestiture of its specialty chemical units—Noramco, Extractas Biosciences, and Purisys—to Siegfried Holding, though the firm retains ownership of its US/Canada finished-dose CDMO, Halo Pharmaceuticals. In the industrial services space, SE Capital sold its HVAC and plumbing platform, Sierra Platform, to Redwood Services, a Memphis-based essential home services consolidator, while Audax's sale of HVAC provider Nextech advanced to the second round, reportedly attracting bids valuing the commercial unit at approximately 15x EBITDA, or around $1.5bn. Furthermore, SK Capital exited another portfolio company, Phoenix Flavors & Fragrances Inc., selling it to Turpaz Industries Ltd..

Consolidation within specialized services and infrastructure continued, with PE-backed Vasco acquiring two complementary sports court contractors, Howard B. Jones & Son Inc. and Court Surfaces of Florida, signaling continued deployment into niche recreation markets. In healthcare technology, Carlyle acquired two revenue cycle management firms, Knack RCM and Equalize RCM, with both founders rolling over a portion of their equity into the new platform structure. Meanwhile, IFM Investors-backed Mobius Renewables expanded its footprint in renewables by purchasing Air Liquide’s biogas assets across the US, France, Norway, and Sweden, including six operating landfill gas-to-RNG sites in America.

Financing, Growth Equity, and Wealth Management

Firms demonstrated appetite for backing established leaders and funding next-stage growth, particularly in home services and financial advice. Bain Capital, Sixth Street, and Harvest Partners provided new backing for home remodeler Power Home Remodeling, with Harvest maintaining its position as the largest investor in the cohort. In the managed technology space, Riata Capital-backed COEO Solutions snapped up network provider S-NET Communications to enhance its offerings for multi-location enterprises. Separately, the wealth management sector attracted capital as Integrum, Lightyear, and Ontario Teachers’ committed new investment into advisor Allworth Financial, joining existing investors.

In the healthcare sector, Avista launched a new platform, Birchwell Consumer Health, simultaneously acquiring therapeutic skincare brand Bag Balm from a selling group led by Gemini Investors. In the infrastructure consulting area, Grovecourt-backed Traffic & Mobility Consultants acquired engineering firm Chindalur Traffic Solutions.

Public Offerings and Industry Recognition

Market interest remains evident in upcoming public listings, particularly from essential services providers. Lewisville, Texas-based emergency medical services provider GMR set its IPO pricing terms, indicating a firm's readiness to test public market reception following private equity stewardship. In related M&A news, industry executives were recognized, with professionals from firms like Step Stone, LGT Capital Partners, and Kirkland & Ellis appearing on Private Equity International's latest list of future leaders. Separation processes also advanced in other service areas, with reports suggesting further PE deals are anticipated in the roofing, landscaping, and remodeling sectors following the Nextech sale rumors.