Deal Flow
Deal flow coverage: platform acquisitions, add-ons, buyouts, take-privates, secondary transactions, GP-led continuation vehicles, and strategic minority investments across private markets.
Evernorth completes Armada Acquisition Corp. II deal; to trade as XRPN on Nasdaq
Evernorth said it completed its business combination with Armada Acquisition Corp. II and expects Nasdaq trading to begin Oct. 12, 2026 under XRPN.
LongWater takes majority stake in Blastco
LongWater has taken a majority stake in Blastco, a Channelview, Texas-based industrial services provider founded in 1983, according to PE Hub.
Gallant Capital’s Duncan Solutions completes sale of Pioneer Credit Recovery
Gallant Capital’s Duncan Solutions has completed the sale of Pioneer Credit Recovery, according to PE Hub.
PE Hub: Apollo, Kohlberg and Montagu pursue surgical equipment providers
PE Hub reports Apollo, Kohlberg and Montagu are pursuing surgical equipment providers and that a radiopharma boom aided Trilantic North America’s $945m SOFIE Biosciences exit.
TKO Hotels submits $2.0B all-cash offer for Service Properties Trust hotel portfolio
TKO LLC said it submitted a formal written offer to buy Service Properties Trust’s entire hospitality portfolio for $2.0 billion in cash.
Apollo’s £5.7bn proposed easyJet acquisition targets early 2027 close
Apollo Global Management’s proposed £5.7bn acquisition of easyJet is expected to complete in early 2027, with regulatory approval still outstanding.
Weston family agrees $8.9bn deal to acquire Boots from Sycamore Partners
Wittington Investments will acquire Boots' UK and Ireland retail operations in a $8.9bn deal with Sycamore Partners and the Pessina family, with completion expected in Q1 2027.
KKR agrees to acquire Gen II Fund Services in deal valuing business at $5.1bn
KKR agreed to acquire Gen II Fund Services from Hg, General Atlantic and minority shareholders in a $5.1bn transaction, according to Private Equity Wire.
CVC raises Recordati take-private offer to €10.5bn and €53 per share
CVC and Groupe Bruxelles Lambert lifted their cash offer for Recordati to €10.5bn, raised the price to €53 per share, and extended the acceptance period to 23 October.
Oura puts Nasdaq IPO on hold, citing uncertainty in the IPO market
Oura has delayed its planned Nasdaq IPO amid IPO-market uncertainty; the company had aimed to sell 50 million shares at $40 to $44 each.
Athos-backed beauty platform Tresalis acquires British fragrance brand Vyrao
Tresalis, a new beauty platform backed by German investment firm Athos, has acquired British fragrance brand Vyrao, with founder Yasmin Sewell staying on as chief brand officer.
Athos-backed beauty platform Tresalis acquires UK fragrance brand Vyrao
Tresalis, a new beauty platform backed by Germany’s Athos, has acquired British fragrance brand Vyrao, according to Dealbreaker.
KKR targets South Korea’s AI supply chain after deploying around $3bn in 2026
KKR is looking to expand investment activity in South Korea after deploying around $3bn in 2026, targeting opportunities tied to AI infrastructure, according to Private Equity Wire.
Carlyle weighs Highway Roop Precision Technologies IPO that could raise up to $400m
Carlyle is preparing a potential IPO of its Indian auto-parts platform Highway Roop that could raise up to $400m, with a possible first-half next-year listing.
Tikehau faces rival strategic bids in Tapí restructuring talks
Tikehau Capital is competing with strategic buyers as Tapí Group negotiates a financial restructuring involving nearly €150m of bank debt, according to Private Equity Wire.
DCC Energy shareholders approve more than £5.7bn takeover by KKR and ECP
DCC Energy shareholders backed a more than £5.7bn acquisition by KKR and ECP, with completion expected in Q1 2027 subject to remaining conditions.
Ingenia rejects Warburg Pincus’s improved AUD2.06bn cash takeover proposal
Ingenia Communities Group rejected Warburg Pincus’s improved AUD2.06bn all-cash proposal at AUD5.05 per share, citing undervaluation and a condition tied to its planned Peet acquisition.
Partners Group explores €800m private credit continuation vehicle
Partners Group is considering a roughly €800m continuation vehicle to extend holdings in private credit loans, according to Private Equity Wire, citing a Bloomberg report.
Korea Investment Corp explores sale of more than $1bn in private equity stakes
South Korea’s sovereign wealth fund KIC is exploring a potential secondary sale of private equity investments worth more than $1bn, with PJT Partners advising, according to Private Equity Wire.
Electra Therapeutics raises $350M in upsized Nasdaq IPO for SIRP-targeting drugs
Electra Therapeutics priced an upsized IPO at $15 per share, raising $350 million and debuting on Nasdaq as ETRA to fund clinical research in precision immunology.
Haymaker Acquisition Corp V closes $287.5m IPO of 28.75m units on NYSE
Haymaker Acquisition Corp V said it closed a $287.5m IPO of 28.75m units at $10.00 each, with units trading on NYSE under HYACU, according to PR Newswire.
Advent to invest $328.5m for 24.9% stake in India’s Yatharth Hospitals
Advent International is investing INR31.5bn ($328.5m) in Yatharth Hospitals for a 24.9% stake, according to Private Equity Wire citing Reuters.
Apollo in talks to expand SoftBank Vision Fund 2 NAV loan to as much as $9bn
Apollo is discussing a potential increase of SoftBank’s Vision Fund 2 NAV-backed facility from $5.4bn to up to $9bn, according to Private Equity Wire.
Mutares exits Cimos in management buyout backed by Vero Automotive
Mutares has exited automotive supplier Cimos in a management buyout backed by Vero Automotive, according to PE Hub.
Blackstone weighs sale of Clarion Events’ Asia unit at $600m–$700m: report
Blackstone is preparing to sell Clarion Events’ Asian operations and is working with Goldman Sachs, with valuation discussions at $600m to $700m, according to Private Equity Wire.
Blackstone and Brookfield lead rival consortia pursuing GFL Environmental
Blackstone, KKR and Energy Capital Partners are exploring a GFL Environmental deal as Brookfield Asset Management and IFM Investors pursue a rival bid, according to Private Equity Wire.
Authentic Brands Group could pursue IPO as early as first half of next year
Authentic Brands Group CEO Matthew Maddox said the licensing company is “ready to go” for an IPO, according to Dealbreaker citing Bloomberg TV.
EQT plans up to $50bn India deployment by 2030 with data centres a core focus
EQT is planning to deploy up to $50bn in India by 2030, with around $30bn expected for data-centre infrastructure, according to Private Equity Wire citing Bloomberg.
Blackstone-backed Crux AI lines up $22bn chip financing from 10-bank consortium
Crux AI is set to receive $22bn in bank financing to support purchases of Google TPUs, according to Private Equity Wire, citing a Bloomberg report.
Skalar launches with seed round and General Catalyst debt partnership for CAC financing
New York-based Skalar publicly launched Thursday with an undisclosed seed round led by Monashees and a debt financing partnership with General Catalyst’s Customer Value Fund.
KKR in exclusive talks for Logoplaste after Apax exits auction
KKR has emerged as the preferred bidder for Portuguese packaging company Logoplaste in a potential deal worth more than €1.7bn including debt, according to Private Equity Wire.
Brookfield agrees all-cash acquisition of Reliance Worldwide valued at about AUD4.1bn
Brookfield Asset Management agreed to acquire Reliance Worldwide Corporation in an all-cash deal valuing the Australian plumbing products maker at about AUD4.1bn ($2.9bn).
EQT and Norges Bank IM form consortium to bid for Acciona Energia
EQT and Norges Bank Investment Management have formed a consortium to pursue Acciona Energia, which LSEG data puts at about €11.9bn enterprise value including debt.
Thatch raises $108M Series C at $1B valuation led by The General Partnership and Index
Health benefits platform Thatch said it raised $108 million in a Series C round, bringing its valuation to $1 billion, according to Dealbreaker.
FountainVest and HSG weigh bids for Alpinestars in potential €1bn deal
FountainVest and HSG are among investors considering bids for Alpinestars in a process that could value the company at around €1bn, according to Private Equity Wire.
Apollo commits $585m hybrid financing package to KKR-backed The Executive Centre
Apollo Global Management has committed $585m in debt-and-equity financing to flexible workspace operator The Executive Centre, according to Private Equity Wire.
KKR sells full 19.9% stake in First Gen for about PHP25.77bn ($410.5m)
KKR exited Philippine power producer First Gen by selling 715.9 million shares for about PHP25.77bn ($410.5m), according to Private Equity Wire.
Aphias Capital backs SNZweig formed from Stambaugh Ness and Zweig Group merger
Aphias Capital has backed SNZweig, a new advisory platform formed by combining Stambaugh Ness and Zweig Group, according to PE Hub.
Graham Partners acquires remote video monitoring workflow software provider Immix
Graham Partners has acquired Immix, a remote video monitoring workflow software provider headquartered in Charlotte, North Carolina, according to PE Hub.
CVC and JC Flowers weigh potential £1.4bn bid for Aldermore
CVC has teamed with JC Flowers to pursue a potential acquisition of FirstRand-owned UK specialist bank Aldermore, according to Private Equity Wire citing Reuters.
Carlyle backs Avenrock Energy’s acquisition of Parallax, valued at about CAD1bn
Carlyle is backing newly established Avenrock Energy’s acquisition of Calgary-based Parallax Energy Operating, a deal Bloomberg sources value at about CAD1bn.
Francisco Partners and KKR to buy TeamSystem minority stakes at €8bn to €10bn valuation
Francisco Partners and KKR agreed to acquire minority stakes in Italy’s TeamSystem from Hellman & Friedman in a deal valuing the company at €8bn to €10bn.
Waterland ends Giacom concert party agreement in potential Gamma takeover
Waterland ended its agreement to act in concert with Giacom on a possible Gamma Communications takeover while keeping its own interest under review, according to Private Equity Wire.
Apollo in talks to acquire J&J’s DePuy Synthes orthopaedics unit for close to $20bn
Apollo Global Management is in discussions to buy Johnson & Johnson’s DePuy Synthes orthopaedics business in a deal that could value the unit at close to $20bn.
Bluejay Capital’s Pacific West acquires Coleman Industrial Construction
Bluejay Capital’s Pacific West has acquired Coleman Industrial Construction, a Kansas City-based provider of rail and industrial facility services, according to PE Hub.
Greenberg Traurig advises Ryman on $1.38B Grande Lakes Orlando acquisition
Greenberg Traurig said it represented Ryman Hospitality Properties in its approximately $1.38 billion acquisition of the fee simple interest in Grande Lakes Orlando Resort, which closed Sept. 1.
Excelsior Energy Capital exits Faraday and Skyhawk solar plants to Enel
Excelsior Energy Capital has exited the Faraday and Skyhawk utility-scale solar plants to Enel, according to PE Hub.
InTandem Capital’s Ivy Fertility acquires Santa Barbara Fertility Center
Santa Barbara Fertility Center, founded by Rene Allen in 2008, has joined Ivy Fertility’s network, according to PE Hub.
PE Hub: Ardian, Sagemount, Eir, Thoma Bravo back life sciences software
PE Hub reports private equity interest in life sciences software and says 1315 Capital closed a carve-out deal tied to Argonaut’s diagnostics division.
Blackstone signs agreement to acquire Flow Control Holdings from Audax
Blackstone has signed a definitive agreement to acquire Flow Control Holdings from Audax Private Equity, with Audax retaining a minority stake and the deal expected to close in Q4.
