Good morning, Hubsters. Senior reporter Michael Schoeck reports on deal news featuring Thoma Bravo's take-private acquisition of the Accelrant risk exchange for over $4bn. The enterprise-value transaction involves $20.25 per share in cash, with closure expected in H1 2027.

Altamont Capital Partners and management retain equity alongside Thoma Bravo. Separately, Goldman Sachs Alternatives acquired Tosca from Apax Partners, a provider of reusable asset pooling for food supply chains, valued around $130m in EBITDA. Also, New Mountain Capital announced acquisition of Jensen Hughes from Gryphon Investors, potentially valued at up to $1.5b based on fire safety industry tailwinds.

The fire protection firm has grown from 40 to over 100 locations globally since Gryphon acquired a majority stake in 2015. These deals reflect strong activity in fire safety and specialty insurance sectors.