Monogram Gives Mountaintop Beverage a Refill
Monogram Capital has closed a single-asset continuation fund for Mountaintop Beverage, a contract manufacturer of shelf-stable and refrigerated beverages. The new fund and transaction, led by Apollo S3, Apollo Global Management’s platform for sponsor and secondary transactions, moves Mountaintop out of Monogram Capital Partners II, the firm’s second fund. Other investors in the fund include Partners Capital, TIFF and H7 Capital and other institutional investors. Mountaintop Beverage makes beverages under contract for other brands — ...
Read More Blue Sea Closes Continuation Vehicle for One Physics
Blue Sea Capital has closed its first single-asset continuation vehicle for One Physics, an outsourced provider of the safety and compliance testing that keeps hospital radiation equipment running within regulatory limits. The new continuation fund was supported by a syndicate of institutional secondary and credit investors including Apogem Capital, a private markets affiliate of New York Life that manages approximately $44.6 billion, and Churchill Asset Management, the Nuveen-affiliated middle market financing specialist with $66 billion ...
Read More LLCP Closes Lower Middle Market Fund IV at $2.0 Billion Hard Cap
LLCP has held the final closing of LLCP Lower Middle Market IV LP (LMM IV) with $2.0 billion of total capital commitments. The fund was oversubscribed, surpassing its $1.7 billion target and closing at its hard cap. LLCP began marketing LMM IV in December 2025 and drew support from its existing investor base as well as a new group of institutional investors from around the world. Backers include sovereign wealth funds, public pension plans, endowments, ...
Read More Model Behavior: Uplift Closes Its Debut Fund at $670 Million
Uplift Investors has closed its inaugural fund at its $670 million hard cap, roughly 16 months after three partners who had invested side by side for a decade launched the services-focused private equity firm. Limited partners in the new fund include pension funds, endowments, foundations, insurance companies, and family offices. Uplift invests in services companies. Rather than organizing its strategy around specific industries, Uplift focuses on how a company operates and makes money. The firm ...
Read More Warren Wraps Up a Banner Fundraise
Warren Equity has closed Warren Equity Partners Fund V LP and Warren Equity Partners Fund V-A LP, with a combined $2.8 billion in total capital commitments. The new raise exceeded the firm's initial $2.3 billion target and was oversubscribed. The fund drew commitments from more than 60 global institutions, including pension funds, insurance companies, asset managers, endowments, foundations, and family offices. Warren Equity Partners (WEP) invests in middle market businesses that maintain, operate, and upgrade ...
Read More Align Closes Two Funds at Hard Cap, Raising More Than $1.1 Billion
Align Capital Partners has closed its fourth private equity fund and its second independent-sponsor-focused fund simultaneously, raising a combined total of more than $1.1 billion. Align Capital Partners Fund IV LP closed at its hard cap with $770 million in commitments, while Align Collaborate Fund II LP closed at its hard cap with $375 million in commitments. The firm began fundraising for both funds in April 2026 and held a final close on June 15. ...
Read More 5th Century Beats Fund II Target
Chicago-based 5th Century Partners announced the final close of its second fund, 5th Century Partners Fund II LP, with $276 million in total capital commitments. Fund II closed above target and is nearly twice the size of the firm’s first fund. 5th Century Partners invests in lower middle-market healthcare and business services companies. The firm focuses on founder-owned and operated businesses and often provides first-time institutional capital. Limited partners in Fund II include both new ...
Read More THL Closes Flagship Fund X
THL Partners has closed its latest flagship fund, THL Equity Fund X LP, with $6.35 billion in capital. Limited partners in the new fund include a mix of existing and new investors, including public and corporate pension funds, sovereign wealth funds, financial institutions, and family offices across North America, Latin America, Europe, Asia, Australia, and the Middle East. With the close of Fund X, Boston-based THL has now raised over $50 billion of equity capital ...
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New Heritage Backs Locomotive Parts Maker PowerRail
New Heritage Capital has made an investment in PowerRail, a manufacturer and distributor of aftermarket parts and remanufacturing services for locomotives. PowerRail supplies the replacement parts and rebuilt components that keep freight and passenger locomotives running, selling both new and remanufactured items and taking worn units in for overhaul. The ...
Read More Alro Steel Finds a Long-Term Partner in Lindsay Goldberg
Lindsay Goldberg has acquired a majority interest in Alro Steel, a family-owned distributor of metals and plastics, marking the first institutional investment in the business since the Glick family founded it in 1948, with the family retaining a significant ownership stake. Alro Steel is a distributor of metals and plastics ...
Read More Astorg Cultures a New Diagnostics Company From Thermo Fisher
Astorg Partners has acquired the global microbiology business of Thermo Fisher Scientific for $1.075 billion, consisting of cash and a $50 million seller note, carving out a maker of diagnostic test media and equipment as a standalone company. The microbiology unit makes the consumables and instruments that laboratories use to ...
Read More Amberjack Opens the Valve on PMV’s Independence
Amberjack Capital Partners has acquired PMV Automation from Flowserve Corporation in partnership with industry veterans Joseph Jobe and Micah Floyd, who will lead the business after closing. PMV Automation makes the devices that position and monitor industrial control valves — the valve positioners and limit switches that tell a valve ...
Read More KKR Buys Into Crowe’s Next Chapter
KKR has made an equity investment in Crowe Advisory LLC, the advisory subsidiary of public accounting and consulting firm Crowe. The investment from KKR restructures how Crowe delivers its services. With the transaction complete, Crowe Advisory LLC provides tax, advisory, and other non-attest services, while Crowe LLP remains a licensed ...
Read More Sheridan Goes With the Flow with Carolina Components Buy
Sheridan Capital Partners has acquired Carolina Components Group, a manufacturer of single-use assemblies and components used to make biopharmaceuticals. Carolina Components Group (CCG) makes the fluid-handling hardware that carries biologic drugs through a factory. The company’s core products are single-use assemblies — pre-assembled, pre-sterilized sets of tubing, bags, connectors and ...
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The Automation Imperative: How Private Equity Must Lead the AI Transformation of Portfolio Companies
Automation is no longer simply an efficiency initiative for private equity operations; it is increasingly becoming a strategic and value creation imperative. For years, PE sponsors approached automation through a reactive lens by replacing aging equipment, while investing to improve throughput, expand capacity, or upskill labor as new needs arose. ...
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LPs Want More Than Returns
Private equity investors are asking harder questions than they were a few years ago. Knowing that a portfolio beat public markets is no longer enough. Boards, CIOs, and investment committees now want to know what produced the result and whether it can be repeated. Was the return earned through manager ...
Read More Bull Moose Tube to Acquire Hanna Steel in Third U.S. Manufacturing Expansion
Bull Moose Tube Company has agreed to acquire Hanna Steel, a producer of structural and mechanical steel tubing with facilities in Alabama and Illinois. Most industrial buy-and-build strategies come with a clock. This one does not. More than fifty years ago, Lord Swraj Paul founded a steel tube business in ...
Read More Would You Let AI Buy a Company? Most Dealmakers Say No
Artificial intelligence has moved from experimentation to infrastructure in M&A. Dealmakers are increasingly relying on AI to source opportunities, analyze targets, and identify risks, but when it comes time to sign a deal, they still want a human holding the pen. That tension sits at the center of The New ...
Read More Secondary Market Volume Surges 42% to $220 Billion
The global secondary market reached $220 billion in transaction volume in 2025, a 42% increase over 2024, with respondents to William Blair’s annual secondary market survey projecting volume will rise to $250 billion in 2026, according to the firm’s 2026 Secondary Market Report released March 26. The survey drew 60 ...
Read More Configure Expands Into GP-Led Secondaries
Configure Partners has launched a new Private Capital Advisory practice to advise private equity firms and private credit managers on GP-led secondary transactions and other liquidity options. Configure’s existing services include middle-market debt placement, recapitalizations, M&A financings, and credit restructurings across nine industry verticals, including industrial and distribution, power and ...
Read More LPs Want More Than Returns
Private equity investors are asking harder questions than they were a few years ago. Knowing that a portfolio beat public markets is no longer enough. Boards, CIOs, and investment committees now want to know what produced the result and whether it can be repeated. Was the return earned through manager ...
Read More Bull Moose Tube to Acquire Hanna Steel in Third U.S. Manufacturing Expansion
Bull Moose Tube Company has agreed to acquire Hanna Steel, a producer of structural and mechanical steel tubing with facilities in Alabama and Illinois. Most industrial buy-and-build strategies come with a clock. This one does not. More than fifty years ago, Lord Swraj Paul founded a steel tube business in ...
Read More A Well-Cured Exit: Insignia Sells Tillamook Country Smoker to Second Nature
Insignia Capital Group has completed the sale of Tillamook Country Smoker, a producer of jerky and smoked meat snacks, to Second Nature Brands, a snacking platform owned by CapVest Partners. Tillamook Country Smoker makes protein-rich, clean-label meat snacks — beef jerky, meat sticks, and smoked sausages — from simple, all-natural ingredients. The company sells nationwide across every major retail channel, including grocery, club, mass, convenience, and e-commerce, and operates two manufacturing facilities in Oregon. Its lineup also includes a Zero Sugar line, aimed at shoppers cutting added sugar from their diets. The business was founded in ...
Read More TransDigm to Acquire Prince & Izant from IGP
Industrial Growth Partners has agreed to sell Prince & Izant to TransDigm Group for just less than $1.1 billion. Headquartered in Cleveland, Prince & Izant designs and manufactures brazing alloys and specialty metal components used in parts that cannot be allowed to fail. Brazing is the process of joining two pieces of metal by melting a filler alloy between them, and Prince & Izant makes the precious and non-precious metal alloys, precious metal components, and clad metal that go into those joints. The company's products span nearly 10,000 SKUs, draw heavily on gold, silver, and platinum ...
Read More RF Investment Partners Closes the Book on Ally Waste
RF Investment Partners has exited Ally Waste Services, a Phoenix-based provider of doorstep trash and recycling collection for apartment communities, ending a partnership that began in 2022 and included 12 add-on acquisitions. Ally Waste Services runs a valet-trash service that has become a standard amenity at professionally managed apartments. Uniformed collectors pick up sealed bags left outside residents' doors on scheduled evenings and carry them to the property's central compactor, sparing tenants the walk and helping property managers keep communities clean. The company serves multifamily housing, student housing, and senior living operators, including large property-management firms ...
Read More Industrial Control Solutions Acquires Modern Instrument Company
Industrial Control Solutions, a portfolio company of LDR Partners, has acquired the business of Modern Instrument Company, a provider of aerospace temperature-validation and calibration services. Modern Instrument checks that the ovens and furnaces used to heat-treat aerospace parts run at the right temperature, evenly and accurately, and produces the certified paperwork manufacturers need to pass audits. The company’s work includes temperature uniformity surveys, system accuracy tests, equipment validation, instrumentation calibration, and audit-ready compliance documentation. For ...
Read More Speyside’s Reed Minerals Blasts Ahead With Buy of U.S. Minerals
Reed Minerals, a portfolio company of Speyside Equity, has completed the acquisition of U.S. Minerals, a fellow producer of coal-slag abrasives and roofing granules, and a portfolio company of Merit Capital Partners since 2010. Reed Minerals makes the coarse grit that industrial crews blast at steel and other surfaces to strip off rust, paint and old coatings before repainting or repair — a process known as abrasive blasting — along with the mineral granules that ...
Read More Branford Castle is Listening
Lafayette Instrument, a portfolio company of Branford Castle Partners, has acquired Avisoft Bioacoustics, a German maker of ultrasonic microphones and recording software researchers use to capture animal calls pitched above human hearing. The acquisition is the sixth add-on for the life sciences instrumentation platform since Branford’s second fund acquired Lafayette in 2021. Avisoft Bioacoustics builds the hardware and software scientists rely on to record and study ultrasound — the range of sound above what people ...
Read More Matrix Adhesives Makes Its First Deal Stick
Matrix Adhesives Group, a portfolio company of TruArc Partners, has acquired IPS Adhesives from IPS Corporation. IPS Adhesives makes high-performance adhesives — the industrial glues that hold manufactured products together — for the building and construction, transportation, industrial, and marine industries. The company has specific expertise in methyl methacrylate (MMA) adhesives, a class of structural glue valued because it cures quickly, needs little surface preparation, and can bond dissimilar materials such as metal to plastic. ...
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Boyne Wraps Fund III After 90-Day Raise
Boyne Capital has held the first and final close of BCM Fund III LP (Fund III) at its hard cap, with $355 million in limited partner commitments. Total commitments to Fund III, and its parallel funds, including Boyne general partner group commitments, exceeded $400 million. Fund III exceeded its $275 ...
Read More KKR Buys Into Crowe’s Next Chapter
KKR has made an equity investment in Crowe Advisory LLC, the advisory subsidiary of public accounting and consulting firm Crowe. The investment from KKR restructures how Crowe delivers its services. With the transaction complete, Crowe Advisory LLC provides tax, advisory, and other non-attest services, while Crowe LLP remains a licensed ...
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New Heritage Backs Locomotive Parts Maker PowerRail
New Heritage Capital has made an investment in PowerRail, a manufacturer and distributor of aftermarket parts and remanufacturing services for locomotives. PowerRail supplies the replacement parts and rebuilt components that keep freight and passenger locomotives running, selling both new and remanufactured items and taking worn units in for overhaul. The company’s product line includes the mechanical and electrical hardware that wears out over a locomotive’s decades-long service ...
Read More Alro Steel Finds a Long-Term Partner in Lindsay Goldberg
Lindsay Goldberg has acquired a majority interest in Alro Steel, a family-owned distributor of metals and plastics, marking the first institutional investment in the business since the Glick family founded it in 1948, with the family retaining ...
Read More Monogram Gives Mountaintop Beverage a Refill
Monogram Capital has closed a single-asset continuation fund for Mountaintop Beverage, a contract manufacturer of shelf-stable and refrigerated beverages. The new fund and transaction, led by Apollo S3, Apollo Global Management’s platform for sponsor and secondary transactions, ...
Read More Industrial Control Solutions Acquires Modern Instrument Company
Industrial Control Solutions, a portfolio company of LDR Partners, has acquired the business of Modern Instrument Company, a provider of aerospace temperature-validation and calibration services. Modern Instrument checks that the ovens and furnaces used to heat-treat aerospace ...
Read More KKR Buys Into Crowe’s Next Chapter
KKR has made an equity investment in Crowe Advisory LLC, the advisory subsidiary of public accounting and consulting firm Crowe. The investment from KKR restructures how Crowe delivers its services. With the transaction complete, Crowe Advisory LLC ...
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Sheridan Goes With the Flow with Carolina Components Buy
Sheridan Capital Partners has acquired Carolina Components Group, a manufacturer of single-use assemblies and components used to make biopharmaceuticals. Carolina Components Group (CCG) makes the fluid-handling hardware that carries biologic drugs through a factory. The company’s core products are single-use assemblies — pre-assembled, pre-sterilized sets of tubing, bags, connectors and fittings that are ...
Read More Altair Industries Acquires Specialty Wire Maker Central Wire Industries
Altair Industries has acquired Central Wire Industries, a manufacturer of specialty alloy wire and cable products used in aerospace, defense and other demanding industrial applications. Central Wire (CWI) draws and ...
Read More Dominus Gets the Green Light on Pelco
Dominus Capital has completed an investment in Pelco Solutions, a manufacturer of traffic signal hardware and pedestrian safety products, acquiring the business from River Associates, which had acquired the business ...
Read More Kainos Names Cate Mason as New Investor Relations Director
Kainos focuses on investments across the food and everyday essentials sectors. Kainos Capital has promoted Cate Mason to director of investor relations. Ms. Mason previously served as a senior associate at the Dallas-based private equity…
Angeles Equity Hires Derek Rush for Industrials Investing Role
Angeles Equity Partners has added Derek Rush to its investment team as a vice president. In his new position he will focus on evaluating, executing and managing investments across the industrials sector. “We are thrilled…
New Partner at PPM
PPM America Capital Partners (PPMACP), the private equity arm of PPM America, has promoted Tiffany Luna to partner. In her expanded role, Ms. Luna will continue sourcing, evaluating, and executing private equity investments, while also…
ATL Partners Names Bob Biesterfeld Senior Operating Executive
ATL Partners has named Bob Biesterfeld a senior operating executive. He will work with the firm’s investment professionals and portfolio company management teams to support strategic and operational initiatives across its focus sectors of commercial…
At ATL Partners, Two Investors Rise and an Operator Steps Up
ATL Partners has promoted three professionals across its investment and operating teams, elevating Josh Raj and Daniel Wu to vice president from senior associate and naming Lauren DiBartolomeo chief operating officer from chief administrative officer….
Bertram Promotes Four to Managing Director
Bertram Capital has promoted four of its professionals on its investment and origination teams — Sean Houseworth, Aaron Kessler, Matt Jones and Paul Koeniger — to managing director. Mr. Houseworth has been with Bertram’s business…
Patrick Fairfield Promoted at DFW
DFW Capital Partners has promoted Patrick Fairfield to principal. Mr. Fairfield joined the firm as an associate in 2017 and advanced through successive roles, working across deal execution, debt financing and portfolio oversight. In his…
Renovus Promotes Principals, VPs, and Associates Across its Investment and Finance Teams
Renovus has promoted 11 professionals across its investment and fund accounting teams, reflecting continued internal advancement at the firm. The promotions span senior investment roles through accounting functions.In the investment group at Renovus, the promotions…