Eterna Completes Spinout of Technology Strategy from Charlesbank
Eterna Growth Partners has completed its spinout from Charlesbank Capital Partners, formally separating the firm’s technology opportunities strategy team and funds into an independent private equity firm. The closing of the spinout follows a yearlong, collaborative separation process. Boston-headquartered Eterna Growth Partners makes control investments in technology and technology-enabled businesses with enterprise values between $50 million and $400 million. Sectors of specific interest include application software, cloud computing, cybersecurity, financial technology, healthcare IT, and infrastructure ...
Read More Wincove Hits Hard Cap
Wincove Private Holdings has held a hard cap close of Wincove Private Holdings II LP (Fund II) with $300 million in capital. Fund II will invest alongside Wincove’s existing permanent capital entity, Wincove Private Holdings LP, which was launched in 2016 and has also made a commitment to the new fund. Other Fund II limited partners include endowments, foundations, family offices, and consultants. Wincove makes control investments in small and mid-size industrial, business services, and ...
Read More Boyne Extends its Hold on Pilot Energy
Boyne Capital has closed a single-asset continuation fund to support add-on acquisitions and continued organic growth of Pilot Energy, a provider of electric utility billing, data management services, and energy procurement strategies. Boyne first invested in Pilot in April 2020. The new fund is managed and controlled by Boyne and is anchored by New 2ND Capital, with additional commitments from new and existing Boyne limited partners. Pilot Energy services are used by communities, commercial, and ...
Read More New State Adds Non-Control Strategy as Independent Sponsor Market Scales
New State Capital Partners has launched Forge Select, a new non-control investment strategy focused on partnering with independent sponsors. The new strategy builds on New State’s long-standing presence in the independent sponsor market and is designed to provide non-control capital while allowing sponsors to retain ownership and positioning, alongside access to the firm’s operating resources and market relationships. Forge Select reflects the continued institutionalization of the independent sponsor sector, as increasingly experienced investors pursue deal-by-deal ...
Read More Leonard Green’s Sage Push Shows How Big GP-Led Secondaries Have Become
Leonard Green & Partners (LGP) has held a $3.6 billion final close of Sage Equity Investors LP (Sage I), the firm’s inaugural investment program focused on single-asset continuation funds sponsored by third-party private equity managers. The new vehicle had a target of $1.5 billion. Fund I was supported by both new and existing limited partners including public and corporate pension plans, sovereign wealth funds, endowments, family offices, insurance companies and other institutional investors. Jonathan Sokoloff ...
Read More Blueprint Races to Close on $333 Million Third Fund
Blueprint Equity has held a first and final closing of its third fund with $333 million of capital. Fund III was significantly oversubscribed, supported by both new investors and limited partners in the firm’s earlier funds. Founded in 2018, Blueprint Equity makes control and minority investments of $5 million to $15 million in founder-led enterprise software, B2B, and technology-enabled services businesses that have from $1 million to $7 million in revenue. Since its founding, the ...
Read More Lindsay Goldberg Closes $4.9 Billion Sixth Fund
Lindsay Goldberg has closed its sixth private equity fund, Lindsay Goldberg VI LP (Fund VI), with $4.9 billion in capital, exceeding its $4.0 billion target and finishing more than 40% larger than its earlier fifth fund. Fund VI was backed largely by returning limited partners alongside new investors, including public and private pension funds, sovereign wealth funds, insurance companies, asset managers, family offices, and high net worth investors across North America, Europe, Asia, the Middle ...
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Capstreet Acquires TOPS Field Services
Capstreet has acquired TOPS Field Services, a provider of turbine maintenance and outage services. TOPS Field Services is a provider of industrial field services focused on inspection, overhaul, maintenance, and outage support for power equipment, including large-frame gas turbines, steam turbines, generators, and liquefied natural gas plant equipment. The company ...
Read More Skyline Buys Rent-to-Own Franchisor Buddy’s
Skyline Investors has acquired Buddy’s Home Furnishings, the third-largest rent-to-own franchisor in the United States. Buddy’s was founded in 1961 as a rent-to-own retailer of household goods and has expanded into a national franchisor of home furnishings, electronics, and appliances. The company’s business model centers on lease-to-own agreements that allow ...
Read More J.F. Lehman Builds Environmental Services Platform
J.F. Lehman & Company has acquired majority equity interests in two companies, Reclamation Technologies USA and Tradewater, and has combined them to form a new environmental services platform focused on the lifecycle management of industrial and refrigerant gases and the mitigation of uncontrolled methane emissions. Reclamation Technologies (RTI) provides refrigerant ...
Read More Highland Rim Acquires Xybix Systems
Highland Rim Capital has acquired Xybix Systems, a maker and installer of ergonomic workstations. Xybix Systems designs, manufactures, and installs height-adjustable sit-to-stand workstations and control room furniture. The company’s products are used in 911 dispatch centers, radiology imaging rooms, hospital command centers, transportation management hubs, utilities operations, and security and ...
Read More Aurora Buys Industrial Asset Monitoring Company Anova
Aurora Capital Partners has acquired Anova, a provider of Industrial Internet of Things (IoT) technology used to remotely monitor and manage industrial assets. Anova products and services are used to monitor and manage industrial equipment such as tanks, gauges, pumps, and other field assets used in the industrial gas, propane, ...
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Osceola’s Trauma Services Keeps Expanding
Trauma Services, a provider of biohazard cleanup and remediation services and a portfolio company of Osceola Capital, continues its growth with the closing of three add-on acquisitions and the green fielding of six new offices in 2025. Trauma Services responds to hazardous and traumatic situations, including crime scenes, unattended deaths, ...
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How Transatlantic Cross-Border M&A Deal Flow is Defying Headwinds
For years, the narrative around cross-border M&A has been dominated by themes of fragmentation: COVID-era travel restrictions, snarled supply chains, tariff uncertainty, and a divisive geopolitical climate. With such forces at play, it would be reasonable to assume that such M&A activity has cooled. But the data, particularly between the ...
Read More The Era of Personalization: How Side Letter Requests Reshape Private Equity Operations
The first half of 2025 marked one of the most challenging fundraising environments in recent years, with a 23% year-over-year decline in capital raises, according to a recent report. The year has been especially difficult as it’s been marked with constrained limited partner (LP) liquidity, muted exits and elevated cost-of-capital ...
Read More Canaccord Genuity Acquires Renewable Energy Advisory Business
Investment bank Canaccord Genuity has acquired Carbon Reduction Capital’s investment banking business (CRC-IB), which adds a U.S.-based advisory firm focused on renewable energy to its existing capital markets operations. CRC-IB focuses on mergers and acquisitions, project finance and capital raising across renewable and energy transition markets. Clients of the group ...
Read More Citizens’ 2026 M&A Outlook: Rate Relief, Firmer Valuations, and a Liquidity Push Set the Tone for 2026
Citizens Bank’s 2026 M&A Outlook argues the U.S. deal market is moving into 2026 on better footing than it has had in several years, with improving sentiment, easing financing pressure, and valuations that feel more workable for both buyers and sellers. The report is based on a survey of 400 ...
Read More Audax Exits Colony
Audax Private Equity has completed the sale of Colony Hardware, a direct-to-jobsite distributor of construction materials and jobsite supplies, to White Cap Supply, a portfolio company of Clayton, Dubilier & Rice. Colony Hardware is a direct-to-jobsite distributor of construction materials and jobsite supplies — lumber, concrete accessories, fasteners, tools, and safety products — that primarily serve specialty and general contractors working in commercial, mixed-use, institutional, industrial, and public infrastructure markets. Through its network of branches, Colony operates across 19 states in the Central and Eastern United States, as well as Texas, and has more than 1,100 ...
Read More MiddleGround Sells Industrial Valve Platform to CD&R’s SunSource
MiddleGround Capital has completed the sale of its portfolio company Vytl Controls Group to SunSource, a portfolio company of Clayton, Dubilier & Rice. Vytl designs, manufactures, distributes, and repairs valves, actuators, and instrumentation used to control the flow of liquids and gases in industrial systems. Vytl operates through several branded business units, including Setpoint Integrated Solutions, which provides process control valves and related instrumentation; W&O Supply, which offers technical flow control products for maritime and military markets; AT Controls, a provider of process control accessories for broad industrial use; and Valsource, a provider of valve remanufacturing, ...
Read More Arcline Sells Resolution Medical to Carlyle’s Resonetics
Arcline Investment Management has agreed to sell Resolution Medical to Resonetics, a portfolio company of The Carlyle Group. Resolution Medical is a contract development and manufacturing organization (CDMO) that designs, tests, and manufactures complex medical devices with capabilities that include rapid prototyping, device engineering, precision molding, laser welding, bio-simulation (labs that recreate in-vivo conditions to refine designs without relying exclusively on animal models), and manufacturing in ISO Class cleanrooms. Resolution Medical’s products include advanced catheter delivery systems, active implantable devices, and nitinol components used in stents and guidewires. The company supports therapeutics including structural heart, neuromodulation, ...
Read More Trinity Hunt Builds HVAC Supply Platform
Averon Group, an HVAC distribution platform backed by Trinity Hunt Partners, has acquired Fenco Supply. Fenco is a family-owned distributor of HVAC equipment, parts, and supplies — used in residential and light commercial applications — to HVAC contractors, mechanical service firms, and facilities managers across Eastern Tennessee. Fenco distributes air conditioning units, gas furnaces, HVAC control systems, and related components under brands including Goodman, Daikin, and Aprilaire. Knoxville-headquartered Fenco, led by President Michael Fennell, was ...
Read More APPLIED Adhesives Acquires Interlock Adhesives
APPLIED Adhesives, a portfolio company of Bertram Capital, has acquired Interlock Adhesives, a UK-based adhesive distributor. Interlock provides adhesive products, technical service, and training to customers active in the packaging, labeling, and bookbinding markets. Interlock was founded in 1993 and is headquartered near Leeds in Scunthorpe, England. Interlock operates as a Henkel Premium Partner. Germany-headquartered Henkel is one of the world’s largest adhesives manufacturers. APPLIED Adhesives is a distributor and formulator of industrial adhesive products ...
Read More Osceola’s Trauma Services Keeps Expanding
Trauma Services, a provider of biohazard cleanup and remediation services and a portfolio company of Osceola Capital, continues its growth with the closing of three add-on acquisitions and the green fielding of six new offices in 2025. Trauma Services responds to hazardous and traumatic situations, including crime scenes, unattended deaths, suicides, homicides, hoarding environments, infectious disease incidents, and other biohazard contamination events. The company’s services include 24/7 emergency response for biohazard waste removal, disinfection and ...
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Trinity Hunt Builds HVAC Supply Platform
Averon Group, an HVAC distribution platform backed by Trinity Hunt Partners, has acquired Fenco Supply. Fenco is a family-owned distributor of HVAC equipment, parts, and supplies — used in residential and light commercial applications — to HVAC contractors, mechanical service firms, and facilities managers across Eastern Tennessee. Fenco distributes air conditioning units, gas furnaces, HVAC control systems, and related components under brands including Goodman, Daikin, and Aprilaire. ...
Read More MiddleGround Sells Industrial Valve Platform to CD&R’s SunSource
MiddleGround Capital has completed the sale of its portfolio company Vytl Controls Group to SunSource, a portfolio company of Clayton, Dubilier & Rice. Vytl designs, manufactures, distributes, and repairs valves, actuators, and instrumentation used to control the ...
Read More J.F. Lehman Builds Environmental Services Platform
J.F. Lehman & Company has acquired majority equity interests in two companies, Reclamation Technologies USA and Tradewater, and has combined them to form a new environmental services platform focused on the lifecycle management of industrial and refrigerant ...
Read More Boyne Extends its Hold on Pilot Energy
Boyne Capital has closed a single-asset continuation fund to support add-on acquisitions and continued organic growth of Pilot Energy, a provider of electric utility billing, data management services, and energy procurement strategies. Boyne first invested in Pilot ...
Read More Aurora Buys Industrial Asset Monitoring Company Anova
Aurora Capital Partners has acquired Anova, a provider of Industrial Internet of Things (IoT) technology used to remotely monitor and manage industrial assets. Anova products and services are used to monitor and manage industrial equipment such as ...
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Salt Creek Capital Acquires Thermal Printer Maker Nanoptix
Salt Creek Capital has acquired a controlling interest in Nanoptix, a manufacturer of thermal printing technologies serving the global gaming, lottery, and kiosk industries. The transaction involves the sale of a majority stake by company founder and CEO Daniel Vienneau, who is stepping into an advisory position. Nanoptix designs and manufactures thermal printing ...
Read More Peterson Farms Acquires Blue Point’s Country Pure Foods
Blue Point Capital Partners has completed the sale of Country Pure Foods, a manufacturer of juice and beverage products, to Peterson Farms which is co-owned by the Peterson family and ...
Read More Heartwood Closes Continuation Vehicle for Amlon
Heartwood Partners has closed a continuation fund for The Amlon Group, a provider of hazardous waste management and environmental services, with approximately $245 million in capital commitments. The transaction was ...
Read More 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…
HighPost Capital Promotes David Weston
West Palm Beach-headquartered HighPost Capital has promoted David Weston to senior managing director, expanding his leadership responsibilities while he continues to oversee investment sourcing and evaluation across the firm’s core consumer-focused sectors. The promotion follows Mr….
Periscope Elevates Luke Elder to Principal, Harry Waddoups to Vice President
Periscope Equity has promoted Luke Elder to Principal and Harry Waddoups to Vice President. The promotions reflect internal advancement within the investment team and follow several years of portfolio work across technology-enabled business services companies….
Piper Sandler Adds Dan Wolf to Healthcare Investment Banking Team
Piper Sandler has added Dan Wolf as a managing director in its healthcare investment banking group. Mr. Wolf will advise healthcare technology companies on mergers and acquisitions, strategic partnerships, and capital raising, strengthening the firm’s…
O2 Promotes Thomas Girdler to VP
O2 Investment Partners has promoted Thomas Girdler to Vice President, reflecting his performance and expanded responsibilities within the firm. The promotion follows another active year for O2 and supports its continued growth entering 2026. Mr….