Dealmaking

JC Flowers wins PE Hub’s Small-Cap Europe Deal of the Year; Ares leads CV for bakery Europastry

MCH has completed a single-asset continuation vehicle to continue backing Europastry, a premium frozen baked goods company.

HIG wins PE Hub’s Small-Cap North America Deal of the Year for Koozie exit; Ronin completes GP-led secondary deal for AeriTek

Also featured is a look at deal volume through Ontra's market index report for Q1 2026.

Exclusive: Ronin Equity takes GP-led secondary minority stake in AeriTek Global

London-based Partners Capital is part of the new investors backing the continuation vehicle.

Oakley Capital wins PE Hub’s Mid-Cap Europe Deal of the Year; ETNA to take majority in defense tech biz

UK family office, VCs cash in on Swarmer’s moonshot IPO

Theseus Capital Partners, D3 Venture Capital, Green Flag Ventures, R-G AI and Radius Capital Ventures own combined shares worth $177m following IPO of the drone software developer.

Kinderhook Industries wins PE Hub's Mid-Cap North America Deal of the Year, plus HVAC service providers on the block

Continuing with PE Hub’s Deal of the Year Awards for 2025 by featuring Kinderhook Industries, the winner of Mid-Cap North America Deal of the Year; HIG Capital conducting a bake-off for a 2022 portfolio company; a look at two HVAC service providers and one manufacturer of refrigerants used by the HVAC market currently for sale, or soon to be in the market.

HIG to test market for industrial services company JT Thorpe, sources say

Thorpe’s business is largely tied to industrial system outages and with a scaled platform, which should be appealing to a large-cap PE firm buyer universe.

Accel-KKR wins PE Hub’s Large-Cap Europe Deal of the Year Award for Smart Communications exit; Capza’s Antoine Druais explains flexible approach

Smart Communications is a London-headquartered customer communications software company.

Capza FEMM’s Antoine Druais: Bringing flexibility and CEO experience to investing

‘The end game for us is to become a multi-specialist, rather than a pure generalist,’ Druais told PE Hub.

More HVAC service providers and component makers are on the block

Scaled residential HVAC platforms have seen PE deal valuations of 16x-19x EBITDA, while the commercial HVAC market has seen a wider spread from about 10x-17x EBITDA.