Key Takeaways
- • KKR agrees to sell Infinity Transportation to Ares Management at an enterprise value of approximately $2.9 billion, according to PEI Private Equity's coverage of the October 19, 2026 deal roundup.
- • Orangewood Partners has formed the THRM platform and made its initial investment in RSG, targeting the fragmented foodservice industry.
- • Hg's Chris Kindt says the firm's software portfolio companies were tasked in 2026 with AI-proofing their pricing.
- • Truelink Capital agreed to acquire the global intrusion products business of Johnson Controls, while Leon Capital made a growth investment in European data center infrastructure firm VKE Group.
- • Goldman Sachs Alternatives agreed to acquire a majority stake in Celnor Group from Inflexion, and Bregal Milestone took a majority growth stake in Italy's Nethive.
Summary
PEI Private Equity's dealmaking commentary for the period from October 19 to 28, 2026 highlights a range of private equity and venture activity across business services, TMT, healthcare, industrials and transport. The largest transaction referenced is KKR's agreed sale of Infinity Transportation to Ares Management at an enterprise value of approximately $2.9 billion. The publication also ran a look-back at SaaS take-privates over the prior six months, citing Thoma Bravo, GTCR and Francisco Partners among the firms active in that segment.
In business services, Orangewood Partners formed the THRM platform and made its initial investment in RSG, positioning the vehicle in what the article describes as a fragmented foodservice industry. Separately, Blue Point Capital Partners-backed Weaver Brands acquired Shapley's and plans to pursue both M&A and organic growth. Hg partner and head of value creation Chris Kindt told PEI that the London-based firm sent its software portfolio companies on a mission in 2026 to AI-proof their pricing.
TMT activity included Leon Capital's growth investment in VKE Group, a European data center infrastructure business, and Truelink Capital's agreement to acquire the global intrusion products business of Johnson Controls. Eurazeo's new sole CEO, Christophe Bavière, described the firm's focus on the European mid-market in an interview with PEI. Permira co-CEO Brian Ruder argued that software assets offer opportunities for what he termed 'really interesting vintages,' and L Catterton invested in Glance, an AI-powered personal shopping platform.
In healthcare, Inflexion agreed to sell a majority stake in Celnor Group to Goldman Sachs Alternatives, with the article noting continued interest in equine health from Blue Point Capital, Gimv and Bencis Capital Partners. Elsewhere, Bregal Milestone announced a majority growth investment in Italy's Nethive, adding to a cluster of cybersecurity deals, and Harbinger's Mark Cuban discussed with senior dealmakers how a potential Major League Baseball lockout could affect investor interest in the sport.
Industrial deals included Blackstone's investment in Falcata, which the article frames as a play on defense supply chain bottlenecks, artificial intelligence and low-cost weapons proliferation, and Morgan Stanley Capital Partners' acquisition of The Rapid Group. Brightstar Capital Partners acquired a majority stake in Material Handling Group USA.
In business services, Orangewood Partners formed the THRM platform and made its initial investment in RSG, positioning the vehicle in what the article describes as a fragmented foodservice industry. Separately, Blue Point Capital Partners-backed Weaver Brands acquired Shapley's and plans to pursue both M&A and organic growth. Hg partner and head of value creation Chris Kindt told PEI that the London-based firm sent its software portfolio companies on a mission in 2026 to AI-proof their pricing.
TMT activity included Leon Capital's growth investment in VKE Group, a European data center infrastructure business, and Truelink Capital's agreement to acquire the global intrusion products business of Johnson Controls. Eurazeo's new sole CEO, Christophe Bavière, described the firm's focus on the European mid-market in an interview with PEI. Permira co-CEO Brian Ruder argued that software assets offer opportunities for what he termed 'really interesting vintages,' and L Catterton invested in Glance, an AI-powered personal shopping platform.
In healthcare, Inflexion agreed to sell a majority stake in Celnor Group to Goldman Sachs Alternatives, with the article noting continued interest in equine health from Blue Point Capital, Gimv and Bencis Capital Partners. Elsewhere, Bregal Milestone announced a majority growth investment in Italy's Nethive, adding to a cluster of cybersecurity deals, and Harbinger's Mark Cuban discussed with senior dealmakers how a potential Major League Baseball lockout could affect investor interest in the sport.
Industrial deals included Blackstone's investment in Falcata, which the article frames as a play on defense supply chain bottlenecks, artificial intelligence and low-cost weapons proliferation, and Morgan Stanley Capital Partners' acquisition of The Rapid Group. Brightstar Capital Partners acquired a majority stake in Material Handling Group USA.
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