UK

Apollo, Clearlake and KKR are among the firms acquiring other private markets firms.

'Primed has significant opportunities to build on its leading market position,' said Andrew Neville, healthcare partner at Inflexion

Primed Group manufactures certified single-use medical consumables and operates a large-scale sterilization platform, supplying hospitals and medical facilities in more than 70 countries.

Documation is a UK developer of intelligent document processing software.

UMag Solutions develops drone-based subsurface threat detection technology used to identify landmines, naval mines and submarines for NATO and allied militaries.

'The scale of investment required across water and wastewater infrastructure is significant, while the sector faces constraints in terms of skilled labor, specialist equipment and engineering expertise,' Nordic Capital's Andreas Näsvik told PE Hub.

'The pattern we're observing is a clear bifurcation: premium assets with defensible fundamentals are attracting real buyer interest; more cyclical or AI-exposed businesses are struggling or having to significantly reset valuation expectations.'