Deals in brief

TPG-backed Third Wave Insurance acquires five Southeast insurance and advisory firms

The acquisitions include Massad Olinde, a Baton Rouge-based employee benefits and retirement advisory business; Acuity Group, a Ridgeland-based employee benefits brokerage that includes BAS, its third-party administrator for self-funded health plans; and AWS, a commercial property and casualty agency serving the greater New Orleans market.

Vista Equity Partners to acquire software firm Quantios from Hg

Hg first invested in the business in 2022, then TrustQuay, and in 2023, merged it with ViewPoint, which was owned by EQT, to create Quantios.

HIG Growth Partners backs Rewind Software

The investment will support the company’s growth, product innovation, and operational scale.

Carlyle-backed Included Health to acquire Firefly Health

San Francisco-based Included Health is a healthcare company.

Investcorp scoops up wealth management firm Berger Financial Group

Berger manages more than $3 billion in assets for over 3,800 clients.

OpenGate Capital agrees to acquire Knorr-Bremse's rail HVAC unit Merak

Merak, a Getafe, Spain-headquartered rail HVAC provider, has built its business over more than 60 years of engineering expertise.

Apax to acquire medical packaging firm Centor and another plastic packaging company from Gerresheimer for €1.5bn

In 2025, the two businesses generated combined revenue of about €570 million with a total of around 2,400 employees.

Bain Capital leads $1.5bn investment in infrastructure platform Eaton Fiber

The capital infusion will be used to accelerate the expansion of Verizon fiber broadband across the US.

Gemspring-backed Key Line merges with utility services firm Palouse Power

Roseburg, Oregon-based Key Line and Quincy, Washington-based Palouse provide construction and maintenance services across electric distribution, transmission, substation, and communications infrastructure.

Juniper Capital exits Andes Coil Processors

The transaction marks Juniper's 11th exit out of 12 total investments made within four platform companies since 2017.