Private Equity 8 Hours

Last updated: May 5, 2026, 11:30 AM ET

Private Equity Dealmaking & Exits

The private equity sector saw a wave of strategic divestitures and acquisitions across infrastructure, technology, and engineering services. THL Partners is preparing for a significant technology exit, agreeing to sell its chip design firm AMI to Lattice Semiconductor for $1.65bn, with the transaction projected to close in the third quarter of 2026. In the water sector, KKR and XPV Water Partners finalized the sale of their unified nutrient management platform, Axius Water, to industrial conglomerate CRH, following targeted acquisitions intended to scale the business. Simultaneously, Platinum Equity concluded its purchase of Infratech, an electric heating manufacturer, from its founders, while in the engineering consulting space, Copley Equity Partners is reportedly testing the market for its civil and structural firm, LJB, with bids potentially valuing the asset at 12x-14x EBITDA.

Consolidation continued within the infrastructure and engineering consulting fields, with several add-on transactions announced. Align Capital-backed Armko expanded its footprint by acquiring Kuhn & Associates, an engineering consultancy, mirroring activity from Allied Industrial, whose portfolio company Liberty Waste Solutions purchased Randolph County Garbage Services in North Carolina. Elsewhere, Cata Cap-backed Thranekær strengthened its engineering capabilities by adding Ingeniørgruppen, a consultancy specializing in building and civil engineering. In Nordic infrastructure, Cap Man Infra moved to secure a majority stake in Heli Air Sweden, a helicopter operator servicing aerial tasks like firefighting and utility support.

Exits in the regulated software space also materialized, as Long Path Partners completed the take-private of Idox, a UK provider of information management software and geospatial data to the public sector. In Europe, Columna Capital is set to acquire Evidenze Group from Buenavista Equity Partners, bolstering its presence in pan-European outsourced pharmaceutical services. Further growth equity activity included Bregal Milestone taking a majority stake in Meteoviva, a firm leveraging AI for predictive building energy management, and O2 announcing an investment into asphalt producer Atlas Asphalt.

Venture Capital, AI, and Talent Moves

Global venture funding showed strong momentum, with April reaching $56bn, marking the third-largest monthly total in the past year, driven primarily by large, late-stage technology investments. The artificial intelligence sector remains a major draw for capital; voice AI firm Eleven Labs announced it secured new investment from BlackRock, Jamie Foxx, and others, pushing its annual recurring revenue past $500M. Meanwhile, industrial technology received support, as Intel participated in a $178M Series B funding round for quantum startup Quantware aimed at kick-starting industrial-scale production. In specialized tech, Y Combinator alum Moritz raised $9M to build an AI-supercharged law firm.

The secondary market and industry talent shifts reflect a maturing environment. Discussions at industry conferences indicated that the contract-for-value (CV) market is seeing fee terms converge around 'best practice' standards rather than simply facilitating deal closure, potentially reflecting concerns over deal failure rates, which advisors attribute to founder expectations misaligning with M&A realities. Concurrently, private equity firms are bolstering their internal teams; Amulet Capital appointed Adam Grossman as a partner to concentrate on sourcing and scaling healthcare services platforms. Separately, investment bank William Blair announced its planned acquisition of sports advisory firm Inner Circle Sports, while industry analysis podcasts are delving into sentiment signals within the secondaries space.