Illustration: Sarah Grillo/Axios
Private Equity Buys
• ADC Aerospace, backed by GreyLion, acquired Hyatt Die Cast & Engineering Corp., a manufacturer of aluminum and zinc die castings. Go deeper
🌍 ACR, backed by Oridian Capital Partners, acquired RediBagUSA, a Pennsylvania-based reusable retail bags company. Go deeper
• AE Industrial Partners acquired Powder Alloy Corporation, a Loveland, Ohio-based provider of engineered metallic, ceramic, and thermal spray powders. Go deeper
• Amplix, a Gemspring Capital portfolio company, acquired OneConnect, a St. Petersburg, Fla.-based technology marketplace guide. Go deeper
• Apax Digital Funds invested in Inspectorio, a production-chain management platform. inspectorio.com
⚡Ardian acquired a majority stake in Munich Electrification, a German battery management systems and electronics components company. Go deeper
• Arthur J. Gallagher & Co.'s Risk Placement Services acquired Med James, a Overland Park, Kan.-based wholesale insurance broker. Go deeper
• BC Partners and CVC are among the investors weighing a bid for Segafredo Zanetti, an Italian coffee producer backed by QuattroR. Go deeper
• Big Brand Tire & Service, backed by Percheron Capital, agreed to acquire Belle Tire, a Midwest-based tire and automotive service provider. Go deeper
⚡A Blackstone-led consortium is investing $5.34b in Williams (NYSE: WMB) to fund five power projects. Apollo and KKR are also participating. Go deeper
• Bluefront Equity acquired a 55% majority stake in Meox AS, a Norway-based cleaning robotics solution for the aquaculture industry. Go deeper
🚑 Bond Vet, backed by Talisman Capital Partners and Warburg Pincus, completed its merger with Small Door Veterinary, a vet services company backed by Valspring Capital, Primary Venture Partners, and Lerer Hippeau. Go deeper
• Bridgepoint agreed to invest in UMag, a Danish subsurface detection company. Go deeper
• Caltius Equity Partners invested in SaaS Consulting Group, an Austin, Texas-based provider of business transformation services for mid-market organizations. Go deeper
• Cutting Edge Group acquired Brian Tyler's catalog of music rights. Tyler composed scores for "The Fast and the Furious" and "Yellowstone." Go deeper
📷️ ePointZero, an Abu Dhabi-based energy investor, closed its acquisition of Traverse Midstream Partners, a U.S.-based portfolio company of The Energy & Minerals Group, for $2.25b. Go deeper
• EQT raised its bid for Japanese classifieds marketplace company Kakaku.com to ¥3,440 and ¥3,460 per share from ¥3,000, above the ¥3,384 that LY and Bain proposed, valuing it around $4.1b. Go deeper
• F2 Strategy, backed by Renovus Capital Partners, acquired Intelligo Partners, a Toronto-based wealth and asset management consultancy. Go deeper
• Ferguson Enterprises (NYSE: FERG) agreed to acquire FloWorks International, a Houston-based critical flow control products company, for $1.6b in cash from Wynnchurch Capital. Clearlake Capital retains a stake. Go deeper
• Francisco Partners is in late-stage negotiations with Thoma Bravo to buy a controlling stake in Command Alkon, a construction software maker, for as much as $1.3 billion, per Bloomberg. Go deeper
• Gridiron Capital invested in Centroid Systems, a Troy, Mich.-based Oracle Cloud solutions services company. VSS Capital Partners exited. centroid.com
• Harith General Partners received approval from South African regulators to acquire FlySafair. Go deeper
🚑 Health Wave Partners acquired Alamar Senior Living, a Wellington, Fla.-based assisted living community. Go deeper
• H.I.G. Capital took a majority stake in Outward Hound, Centennial, Colo.-based maker of treats and toys for cats and dogs. Go deeper
📷 Inflexion agreed to acquire Primed Group, a German provider of medical consumables and sterilization services. Go deeper
• Infrastructure Consulting & Engineering USA, a Godspeed Capital Management-backed company, acquired Southeastern Land Co., a right-of-way and easement acquisition and project management firm. ice-eng.com
• Investment Management Corporation of Ontario and GCM Grosvenor acquired a 25% stake in TIP Group, a European transportation equipment leasing and services platforms, from I Squared Capital. Go deeper
🚑 Kaltroco invested in Smile America Partners, a Farmington Hills, Mich.-based mobile school dental program. Beach Point Capital Management exited. Go deeper
⚡KKR and Energy Capital Partners sweetened their takeover bid for DCC (LON: DCC), an Irish energy distributor, valuing it up to £5.81b. Go deeper
• KKR will buy a 51% stake in Thomson Reuters' legal and tax publishing business, Global Print, in a $500m deal. Thomson Reuters will hold onto the other 49%. Go deeper
• Kroll, backed by Stone Point Capital and Further Global, acquired ABC Economics, a Berlin-based economics and global competition advisory firm. Go deeper
• Marco Sealing Solutions, backed by Align Capital Partners, acquired Rocket Seals, a Denver-based O-rings and sealing products distributor. Go deeper
• Mill Point Capital agreed to acquire Total Safety Supplies & Solutions, a Houston-based distributor of industrial maintenance, repair, and operations products. Go deeper
🌍 Morgan Stanley Infrastructure Partners agreed to buy a majority stake in Nicollin Environnement, a French environmental platform focused on waste collection and sorting. Go deeper
• Ode with Anthropic, backed by Blackstone and Hellman & Friedman, officially launched as a standalone AI services company. Go deeper
• Odyssey Investment Partners made a majority investment in TransPak, a Silicon Valley-based packaging solution for data center, semiconductor, aerospace and defense, and medical customers. Go deeper
• Palm Beach Capital invested in Nelson Worldwide, a Minneapolis-based design and architecture firm. Go deeper
• Peak Business Valuation, part of Unity Partners-backed Amplēo, acquired Nationwide Valuations, an SBA-compliant business valuations and certified machinery and equipment appraisals company. Go deeper
• Podean, backed by Mountaingate Capital, acquired Social Commerce Club, a Vancouver-based TikTok Shop social commerce agency. Go deeper
📷️ Indonesia's PT Barito Renewables Energy offered to buy Energy Development Corp., a geothermal company backed by First Gen Corp., for more than $5b, per Bloomberg. Go deeper
• Pye-Barker Fire & Safety, backed by Altas Partners and Leonard Green & Partners, acquired Hartford Sprinkler Co., a Connecticut-based fire sprinkler and life safety company. Go deeper
• Raintree, backed by Serent Capital, acquired Spike Technologies, an NYC-based ambient scribe company. Go deeper
🚑 Ridgemont Equity Partners acquired Caring Transitions, a senior move management services and online estate and liquidation services company. Go deeper
• Safety Management Group, a portfolio company of Gryphon Investors, acquired CrossSafety, a Canadian health, safety and environmental services provider. Go deeper
• Seidler Equity is weighing a sale of Rawlings Sporting Goods Co., a maker of baseball apparel and equipment, per Bloomberg. Go deeper
• Skybound Service Partners, backed by Garnett Station Partners, acquired three roofing companies: Lewiston, Pa.-based David M. Maines & Associates; Bradenton, Fla.-based Unicoat Industrial Roofing; and Helena, Ohio-based Technique Roofing Systems. skyboundservicepartners.com
• Talon Precision, backed by Strand Equity and Telos North, acquired B&A Company, a Milford, Conn.‑based precision machining firm. Go deeper
• Tavoron, backed by Fusion Capital Partners, acquired Fluidraulics, a automation component and system distributor. Go deeper
• Thrust Capital Partners acquired Alphacasting, a Quebec-based precision Go deeper
• Value Added Distributors, a portfolio company of Rotunda Capital Partners, merged with Exotic Automation & Supply, a Michigan and Indiana-focused fluid power, motion control, and sealing solutions company. Go deeper
📷 VetnCare, backed by Great Point Partners, acquired Holistic Veterinary Care, a Oakland, Calif.-based holistic medicine and rehabilitation veterinary hospital. Go deeper
Private Equity Sells
• Enerpac Tool Group (NYSE: EPAC) agreed to acquire Specialized Fabrication Equipment Group from SFEG Holdings, a portfolio company of Gladstone Investment Corporation, in $472m deal. Go deeper
• One Equity Partners agreed to acquire United Weld Holdings, a Baton Rouge, La.-based pipe fabricator and distributor, from Bernhard Capital Partners. Go deeper
• Tailored Brands, the Houston-based retailer behind Men's Warehouse, filed for an IPO. It posted sales of $2.5b in 2025 and net income of $217.2m. Silver Point Capital and Arbour Lane Capital Management back the firm. Go deeper
• Veritas Capital agreed to acquire BGIS, an integrated facilities management services company, from CCMP Capital Advisors and Alberta Investment Management Corporation. Go deeper
More M&A
• ABB agreed to acquire Rotork (LON:ROR), a manufacturer of electric actuators, for $5.5b. Go deeper
🌍 Airhive, a London-based carbon capture startup, acquired Carbyon, its Dutch competitor. Go deeper
• Anaconda acquired Kilo Code, an AI coding platform backed by Cota Capital. Go deeper
🚑 Angelini Pharma completed its $4.1b acquisition of Catalyst Pharmaceuticals (Nasdaq: CPRX), a rare diseases drugmaker. Go deeper
• AngelList acquired Ark PES, a Boston-based fund management software platform backed by Vitruvian Partners. Go deeper
• Cribl, an analytics software developer, acquired Israeli startup CardinalOps, an agentic detection platform for reportedly about $100m. CardinalOps' backers included Viola Ventures, Glilot Capital, Battery Ventures, In Venture, XT Hi-Tech, and Gefen Capital, Symbol. Go deeper
• Elliott Management has built a stake in CCC Intelligent Solutions, a software firm. Go deeper
• First Hawaiian agreed to acquire TriCo Bancshares, a Californian bank, for $2b in stock. Go deeper
• Harvey acquired Benchmark, a New York-based asset management decision platform backed by YC. Go deeper
🚑 IKS Health (NYSE: IKS) completed its $557m acquisition of TruBridge (NAS: TBRG), a Mobile, Ala.-based maker of EHR and revenue-cycle tools for hospitals. Go deeper
• Lionsgate Studios Corp. is exploring a possible sale. It's held discussions with Bolloré Group, per Reuters. Go deeper
• MGM Resorts (NYSE: MGM) is negotiating a potential deal after People (Nasdaq:PPLI) after Barry Diller offered to buy the former. Go deeper
• Nippon Paint (T:4612) has offered to acquire AzkoNobel (AS:AKZO), a Dutch paint company, for €7.5b ($8.6b). Nippon Paint previously withdrew a €12.5b joint bid with Sherwin-Williams. Go deeper
• The Oregon attorney general's office has withdrawn a court motion to delay Paramount's proposed acquisition of Warner Bros. Go deeper
• TransDigm (NYSE:TDG) withdrew its planned $960m acquisition of Stellant Systems, a portfolio company of Arlington Capital Partners after the DOJ moved to block the transaction. Go deeper
• Steel Partners Holdings offered to acquire InMode (Nasdaq: IMND), an Israel-based medical and plastic surgery device company, for $16.75 per share, valuing it around $962m. Go deeper
• Vinod Khosla and family led a group that's agreed to acquire Super Bowl champion Seattle Seahawks from the estate of Microsoft co-founder Paul Allen for a reported $9.6b. Go deeper
• Watches of Switzerland (LON:WOSG) has held talks to go private, per Reuters. Go deeper
Fundraising
• Andera Partners closed its fourth Andera Expansion fund at €430m. Go deeper
• Citation Capital, a Dallas-based private equity firm raised $1.2b for its debut fund. citation.capital
• FIMI raised $1.75b for its eighth fund. Go deeper
• Greylock announced Greylock 18 with $1.5b. Go deeper
• I Squared Capital will invest up to $2b into the Saudi Arabian sovereign wealth fund's real estate and infrastructure assets in the country. Go deeper
• Lightspring Capital Partners closed its second fund with $218.1m. Go deeper
• LionLight Capital Fund I closed with $215m. Go deeper
• Sagard Credit Partners held the first close of Sagard Credit Partners III with over $1b. It is targeting $2b. Go deeper
• Uplift Investors closed its inaugural fund with $670m. Go deeper
• Warren Equity Partners Manager closed its fifth fund with $2.8b. Go deeper
• Wafra closed Constellation Generation V at $2b. Go deeper
It's Personnel
• Dextra Partners hired Tyler Donofrio as vice president. He was previously at Churchill Asset Management. Go deeper
• Founders Fund named Ryan Beiermeister as a partner. Go deeper
• Future Standard appointed Edwin Conway as CEO. Go deeper
• Garnett Station Partners promoted David Dragich and Rafi Haramati to partner; Mike Drittel to managing director; Will Edmonds to principal; and Sam Abbatacola to vice president. Go deeper
• Gigascale Capital hired Simran Arora as head of finance. She was previously at SemperVirens Venture Capital. Go deeper
• HighVista Strategies appointed Ramit Malhotra as principal on its New York-based GP-led secondaries team. highvistastrategies.com
• Latham & Watkins added Byron Rooney and Dan Gibbons from Davis Polk & Wardwell. Rooney will join as global vice chair of the firm's capital markets practice. Go deeper
• Moelis & Company appointed Justin Polselli as a managing director focused on debt capital markets. Go deeper
• Paradigm promoted Katie Biber to CEO. Go deeper
• William Blair hired Michael Allwin as managing director and head of Biopharma investment banking. Go deeper
