JC Flowers has been named winner of PE Hub's Small-Cap Europe Deal of the Year for its exit from HRK Lunis, a wealth management firm it built from a €40 million revenue platform to a €40 million+ EBITDA business. The private equity firm sold the company to Seven2 after eight years, achieving an 8x growth in assets under management through strategic add-ons and M&A.

MCH Private Equity has completed a continuation vehicle to keep backing Europastry, a premium frozen baked goods company, with Ares Secondaries leading the transaction. Since MCH's 2017 investment, Europastry has grown annual revenues five-fold from €350 million to over €1.6 billion. The Barcelona-based company, founded in 1987 by the Gallés family, operates across 80+ countries with 4,900+ frozen products.

Europastry had previously cancelled a planned €555 million IPO in October 2024, which would have valued the company around €1.5 billion. The bakery sector continues attracting private equity interest as consumer trends favor convenient, on-the-go food options. MCH's decision to continue backing Europastry through a continuation vehicle signals confidence in the company's growth trajectory and the broader frozen baked goods market.