Francisco Partners agreed to acquire Weave in a $650 million take-private deal. Based in Lehi, Utah, Weave provides patient engagement and payments software for healthcare practices. Co-president Ezra Perlman said Weave is positioned to capitalize on healthcare's growing AI demand. The deal expects to close in Q4 2026.

Meanwhile, private equity returns to household products. River Associates acquired Diamond Wipes (Chino, California), Kainos Capital bought Super-Sod (Charleston, SC) from Heartwood Partners, Shamrock invested in Atlanta-based Cards HQ and Sports Card Investor, and Bain Capital invested in Positec Group (Suzhou, China), maker of WORX and Rockwell Tools.

Houlihan Lokey's Q2 2026 update shows 55 transactions totaling $2.6 billion as PE targets tariff-insulated, cash-generative assets. Director Matthew Panek notes increased receptivity around durables and a risk-on shift from tech/AI to consumer.

Francisco Partners' DJ Deb warns of an AI bubble, comparing it to 1999-2000. He says 90% of AI companies will lose money while 5-6 become multi-trillion-dollar firms. Human nature never changes.