Private Equity 24 Hours

Last updated: September 10, 2026, 6:28 AM ET

Deal Flow: Mid-Market & Buyouts

Mid-market CEOs are demanding more from their private equity partners than just capital, arguing that operational expertise and strategic alignment have become the deciding factors when management teams evaluate potential investors. At an industry event on Wednesday, leaders from Eurazeo, Astorg, and Ridgepost made the case that CEOs demand more from GPs, signaling a shift in how firms must differentiate themselves to win deals.

In the lower mid-market, Ambienta’s No Dig Alliance has acquired Sweden’s Horisonterra, a Torsåker-based specialist in trenchless underground pipe installation using horizontal directional drilling, serving infrastructure contractors and public authorities across the country. The deal underscores continued consolidation in European infrastructure services. Meanwhile, Accel-KKR agreed to a $281m deal for London-headquartered Eleco, which provides software for the construction and built-environment sector. The transaction highlights ongoing appetite for vertical software platforms in the UK. Elsewhere, Bregal Sagemount took a majority stake in A-Rent Test Equipment, the Burr Ridge, Illinois-based company that rents electrical test equipment and provides calibration and asset management services to more than 1,000 customers nationwide. The investment reflects confidence in industrial rental models. In Connecticut, Glen Oaks Capital and Tecum Capital have acquired Stan Chem,which combines resin and coatings makers Stan Chem Resins and Dux Coatings, serving customers across architectural, industrial, and specialty markets. The platform deal aims to build scale in specialty chemicals. HIG Capital has made a significant investment in Click Here Digital, the Baton Rouge, Louisiana-based performance marketing firm serving automotive, legal, and government clients since 1993. The capital injection will support the company’s next phase of growth. Point 41 Capital has acquired Safe-Way Garage Doors from CW Industrial Partners. Safe-Way, headquartered in Warsaw, Indiana, has manufactured customizable residential and commercial overhead garage doors since 1959, marking a classic buy-and-build opportunity. Albaron Partners has exited Prime Psychiatryin a sale to Beacon Behavioral. Prime Psychiatry operates outpatient and interventional psychiatric care facilities, including TMS and Spravato treatments, across the Dallas-Fort Worth and Austin areas of Texas. The transaction reflects continued consolidation in behavioral health services.

Healthcare & Life Sciences

Healthcare investing remains under pressure,with firms navigating valuation gaps and regulatory headwinds. In a notable large-cap exit, Warburg Pincus and Berkshire Partners are selling Consolidated Precision Products(CPP) to GE Aerospacein a deal valued at $11.75bn. The transaction marks one of the largest PE exits of the year and provides substantial liquidity to the selling firms. In the life sciences arena, Eir Partners has acquired Accumulus Technologies, the San Francisco-based operator of a cloud platform connecting more than75 regulatory authorities with life sciences companies worldwide. The acquisition strengthens Eir’s exposure to digital regulatory infrastructure. Meanwhile, Great Point Partners has exited MLM Medical Labs to Labcorp. MLM provides central and specialty lab services supporting clinical trials, biomarker testing, and drug development for life sciences companies, representing a strategic sale to a larger diagnostics player. Iron Path Capital’s VION Biosciences has closedthe acquisition of Prolytix,which provides regulated bioanalytical and CMC services, research reagents, and custom sample collection products to biopharma and diagnostics customers. The deal adds critical analytical capabilities to VION’s platform. In leadership news, Frazier Healthcare Partners has namedthe ex-McKesson strategy chief as senior partner. The firm, which has invested in more than200 companies since 1991, continues to bolster its healthcare-focused investment team. The broader healthcare investing environment is flagged as being in critical conditionby industry observers,with CVC’s incoming co-CEO being a healthcare specialist,and EQT launching an APAC evergreen fund as notable strategic responses.

Technology, Media & AI

The technology sector continues to dominate private equity activity, with artificial intelligence commanding premium valuations. Diffusion and Lightspeed Venture Partnershave co-led a $550m funding round in Harvey,the legal artificial intelligence company, valuing the business at $15.5bn. The round underscores the immense investor appetite for AI-enabled vertical software. In cybersecurity, Apax Funds have acquired Next Gen Security from Dunes Point Capital. Next Gen, headquartered in Exton, Pennsylvania, designs, installs, services,and maintains integrated security systems including video management, access control,and intrusion detection. The deal comes amid broader PE interest in cybersecurity,with Carlyle, Clearlake among firms targeting the sector. In workforce software, Thoma Bravo has backed Tanda,an Australian workforce management, payroll,and HR platform built for shift-based employers,in the firm’s first outside investment. The strategic growth investment marks Thoma Bravo’s entry into the ANZ market. A notable developmentin AI research: Listen Labs has scrubbeda signed $1.5B Series C term sheetfrom Menlo Ventures, choosing instead to pursue talks with Salesforce, according to sources. The move highlights how strategic acquirers can disrupt even well-advanced fundraising processes. In European tech, Bynario has raised €2.1m to tackle cybersecurity’s AI slop problem—the proliferation of low-quality, AI-generated security alerts. The seed round addressesa growing pain point for security teams. Meanwhile, Samsung has backed Mistral AIin its €3bn funding round,signaling strategic alignment between the Korean tech giant and the French AI lab. The investment underscores Europe’s rising prominencein foundational AI models. Ex-Google Deep Mind scientists have raised €3.2mto build software for fusion startups, adding a computational layer to the emerging fusion supply chain. West Bridge-backed creative agency Koto has completed its first acquisitionwith the Stereo Creative deal, bringing a portfolio of long-standing client relationships across sport, entertainment,and technology, including Nike, Arsenal, FIFA,and EA Sports. The move consolidates independent creative talent under one roof.

Fundraising, Continuation Vehicles & Secondaries

Continuation vehicles remain a key tool for sponsors seeking liquidity without forcing a full exit. Peterson Partners has raiseda $510m continuation fund for Kelso Industries,the Draper, Utah-based provider of mechanical, electrical,and plumbing services to commercial, institutional,and industrial customers across more than40 states. The transaction provides existing investorswith liquidity while funding Kelso’s continued growth. Similarly, Gainline has completeda continuation fund for Core,the fitness equipment provider, offering existing investorsa liquidity option while raising follow-on capital to support global expansion. In the consumer sector, Belle Brands has acquired Vegamour,the hair wellness brand,as Windsong Global continues to expand its multi-brand beauty platform assembled at pace since2024. The deal adds a direct-to-consumer wellness brand to the portfolio. On the fundraising front, HarbourView Equity Partners has hireda Cambridge Associates alum as managing director. The firm, which focuses on music, sports, media,and entertainment with approximately $3.88 billion in regulatory assets under management, continues to strengthen its origination capabilities. In European expansion, Tikehau Capital has appointed Piero Migliorini as head of private equity Italy,with Martino Mauroner,currently deputy head of private debt,and head of private debt Italy,being appointed co-head of Italy alongside Daniele Germano. The moves signal Tikehau’s commitment to deepening its Italian footprint. In Asia, Novo Holdings has inked its first China medtech deal amid a broader Asia ramp-up. The investment arm of Denmark’s Novo Nordisk Foundationis expanding both ticket sizes,and team headcountin the region, says regional head Amit Kakar,reflecting a strategic push into Asian healthcare innovation.

Real Assets, Industrials & Consumer

Real assetsand industrials continue to attract significant capital,with infrastructureand satellite technology featuring prominently. Loft Orbital has strucka billion-dollar deal with UAE’s Marlan Space to build an AI-powered satellite constellation, marking one of the largest space infrastructure agreements of the year. The deal underscores the Gulf region’s growing ambition in space technology. In the automotive sector, HOF Capital has completedthe €1bn purchase of Porsche’s Bugatti Rimac,and Rimac Group stakes. Rimac Group retains its 55% controlling stakein Bugatti Rimac,with HOF Capital’s consortium replacing Porsche as a shareholderin both companies—a landmark transactionin European automotive history. In real estate, Cerberus Capital Management has sold Tenet Equity,the triple net lease financing platform it founded five years ago,to CBRE Investment Managementfor $1.6bn. The exit delivers a substantial return for Cerberusand underscores the strong demand for net-lease assets. In the consumer-packaged goods space, New Water Capital has acquired Lid Works,the family-owned foodservice lid maker based in Plant City, Florida. Lid Workshas designed and manufactured custom food, beverage,and specialty lids for quick-serve and convenience store brands since1985. The deal adds a niche manufacturerwith strong brand relationshipsto New Water’s portfolio. Align Capital’s MKB Company has acquired Siltworm,the Indiana-based maker of proprietary rolled filter products that control sedimentand reduce erosion using lightweight, biodegradable fill material. The acquisition expands MKB’s environmental infrastructure product line. In the services sector, HIG Capital’s investmentin Click Here Digital reflects continued PE interest in performance marketing. Meanwhile, Point 41 Capital’s acquisitionof Safe-Way Garage Doors highlightsthe appeal of established regional manufacturerswith loyal customer bases.

Market Outlook & Leadership

Industry leaders are signaling that the primary challenge in the current exit environment is not deal flow but pricing. Apollo’s Scott Kleinman argued at an industry event on Wednesday that the real obstacle is sellers being unwilling to accept the price the market is offering. His comments capture a broader standoff between buyerand seller expectations that has constrained transaction volumes across the asset class. In venture capital, investors are adapting their approaches to founder engagement. Norwest partner Sean Jacobsohn gives foundersa sales test before he’ll invest,discussing where he still sees openings in the crowded market for finance softwareand how far companies should trust AI-driven sales tools. The hands-on approach reflects a broader trend of VCs demanding more operational readiness from founders. On the growth equity front, the most active growth equity investorsin Europe have been identified, highlighting the firms driving late-stage venture activity across the continent. In emerging technology, 7 geothermal startups to watchin2026 have been flagged by VCs, signaling growing investor interest in next-generation energy technologies. Finally,for those managing team dynamics, experts offer guidance on the dos and don’ts of a team offsite—including candle making, line dancing,and avoiding hard alcohol—as firms seek to build culture amid hybrid work arrangements.