Divestitures in 2025

Duravant, LLC has completed the acquisition of the Warehouse Automation business from Matthews International Corporation. Matthews received $232.1 million in total consideration for the business (cash plus assumption of liabilities); the business generated $72 million in sales in fiscal 2025 and Matthews said proceeds will be used to reduce outstanding debt.

Linamar Corporation completed its acquisition of Georg Fischer's Leipzig ductile iron casting facility for €45 million, a deal first announced on October 7, 2025. The Leipzig plant adds advanced casting, prototyping and machining capabilities to Linamar's manufacturing footprint in Europe and is expected to be immediately accretive.

Platinum Equity completed the acquisition of the Products & Healthcare Services (P&HS) segment and the Owens & Minor brand from Owens & Minor, Inc. for $375 million; Owens & Minor retained a 5% equity interest and will rebrand its remaining business as Accendra Health. The acquired business — now Owens & Minor P&HS and headquartered in Richmond, Virginia — operates a vertically integrated medical and surgical supply distribution platform serving hospitals, health systems and other healthcare providers across the United States.

Hive Holdings Inc. acquired FLUENT Corporation’s Pennsylvania dispensary operations (three retail locations in Hanover, Mechanicsburg and Annville) for $12.5 million in cash in a transaction effective December 31, 2025. FLUENT said the divestiture was intended to strengthen its balance sheet, reduce leverage and sharpen strategic focus after federal rescheduling of marijuana; Hive will operate the acquired Pennsylvania retail locations going forward.

PureStar has acquired Emerald Textiles from Pacific Avenue Capital Partners, closing on December 30, 2025. The deal combines PureStar's hospitality laundry platform with Emerald's West Coast healthcare linen operations, creating a scaled, diversified commercial laundry provider backed by Cornell Capital.

Bepensa Capital completed the sale of its U.S. lending business, FinBe USA (the U.S. operations of Bepensa Capital Inc.), to Generosity Lending Services, LLC, exiting the U.S. market to refocus resources on Mexico. The U.S. business — which operated across 32 states and is headquartered in Fort Lauderdale, Florida — will continue operations and maintain employee status; Scot Seagrave will remain/continue as Managing Director overseeing day-to-day operations.

Lindsay Goldberg has completed the sale of its interest in Pike Corporation following a 25-year partnership. The transaction transfers a majority stake to TPG and Caisse de dépôt et placement du Québec (La Caisse), alongside Pike management, positioning Pike for accelerated growth in U.S. electric-grid, renewables and telecom infrastructure services.

itSynergy, a Phoenix-based managed IT and cybersecurity provider for Registered Investment Advisers (RIAs), has acquired the Itegria line of business from Comply. Approximately 70 clients will transition to itSynergy as the firm assumes responsibility for IT and cybersecurity services previously delivered through Itegria, enabling Comply to focus on its compliance technology platform.

Halco Lighting Technologies has acquired the permanent lighting portfolio of Topaz Lighting from Southwire, with Southwire retaining Topaz's components and temporary lighting businesses. Southwire's customer letter cites December 18, 2025 as the handoff date while Halco's announcement describes the transaction as a forthcoming event; the deal expands Halco's commercial and industrial fixture lineup (troffers, high bays, wall packs, exit/emergency, retrofit trims and vapor-tight fixtures).

Revelar Capital has acquired Lettermen's Energy Holdings, LLC from Indianapolis-based private equity firm CID Capital. Lettermen's, a Kansas City-headquartered consolidator of independent propane distributors with operations in roughly 20 states and about 240 employees, was built by CID through a buy-and-build strategy and will enter its next growth phase under Revelar's ownership; terms were not disclosed.

Ecolab Inc. has completed the acquisition of Ovivo's Electronics ultrapure water business, a transaction that expands Ecolab's capability in ultrapure water technologies for semiconductor manufacturing and data centers. The deal—based on an enterprise valuation reported at approximately C$2.4 billion—transfers Ovivo's high‑tech electronics water business (headquartered near Basel, Switzerland) to Ecolab's Global Water platform.

Boathouse Capital announced it has realized (exited) its investment in Ontraport, a marketing automation, sales, and CRM software provider for small and medium businesses. Boathouse partnered with Ontraport founder and CEO Landon Ray during a period of growth and profitability; the firm said the exit represents a successful realization from its third fund.

Central Garden & Pet (NASDAQ: CENT) has acquired the U.S. assets of Champion USA, adding the JustiFLY line of feed-through, EPA-approved cattle fly-control products to its portfolio. The deal brings Champion USA's St. Joseph, Missouri manufacturing and employees into Central's Professional business unit to expand its sustainable livestock fly-control offerings and nationwide distribution.

EQT Infrastructure III and IV have fully exited their investment in Kodiak Gas Services (NYSE: KGS), following Kodiak's 2023 IPO and a 30-month series of sell-downs. Kodiak, headquartered in Houston, Texas, is a leading provider of natural gas contract compression services in North America; under EQT's ownership the business grew revenue and EBITDA more than 8x and expanded headcount to just over 1,300 employees.

Waverly Advisors has acquired certain business lines from Chicago-based Promus Holdings, adding approximately $3.1 billion of AUM and expanding Waverly's private equity, real estate, and multi-family office capabilities. The deal closed November 14, 2025; financial and legal terms were not disclosed, and Waverly formed a new subsidiary, Promus Capital Management, to operate the acquired strategies.

EPIC Insurance Brokers & Consultants has acquired Sentry Transportation's direct writing operation, a carve-out from Sentry Insurance that brings more than 500 transportation clients and the associated team. The acquired operation and team will join EPIC's Interstate Motor Carriers business, strengthening EPIC's national Transportation & Logistics practice and trucking insurance capabilities.

Regnology has completed the acquisition of Wolters Kluwer’s Finance, Risk and Regulatory Reporting (FRR) business, including the OneSumX for Finance and OneSumX for Risk solutions. The deal expands Regnology’s cloud-native, AI-driven regulatory technology capabilities and brings FRR employees and products into Regnology’s global SaaS portfolio while Wolters Kluwer completes the divestment of the unit.

Paradigm Health has acquired Flatiron Health’s Clinical Research Business and entered a multi-year strategic partnership to integrate Flatiron’s research network and solutions with Paradigm’s AI-powered trial platform. The deal expands Paradigm’s oncology research network to include more academic medical centers and nearly 100 community oncology practices, increasing access to clinical trials across the United States; terms were not disclosed.

Hoover Treated Wood Products, Inc. has acquired Arconic Architectural Products, LLC and will operate the Eastman, Georgia facility under a new division, Hoover Architectural Solutions, marking Hoover's entry into exterior aluminum cladding and signage. The acquisition transfers the Eastman manufacturing operations to Hoover and expands its building-products portfolio to include aluminum composite material (ACM) panel lines such as Reynobond FR and PE.

EnergyHub (an Alarm.com subsidiary) has acquired Resideo Technologies’ Grid Services demand response business, which will be integrated into EnergyHub’s Edge DERMS and VPP capabilities. Resideo divested the unit to focus on its core residential sensing and controls business; financial terms were not disclosed.

HR Path has acquired Blueprint HR Software, the HR technology subsidiary of India-based Blueprint Technologies, in a divestiture that expands HR Path’s presence and capabilities across India, the Middle East and APAC. The deal adds expertise in SAP SuccessFactors, Concur and UKG to HR Path’s HRIS offerings while Blueprint Technologies will continue to operate independently and focus on its core ERP services.

Areas has completed the acquisition of Delaware North’s Travel Hospitality Services (THS), adding 237 outlets across 22 U.S. airports and more than 4,000 team members. The deal (a divestiture of a Delaware North business unit to Areas USA) expands Areas’ U.S. footprint and scale in travel food & retail, with THS generating over $500 million in annual revenue and significantly increasing Areas USA’s locations and workforce.

Richardson International Limited has completed the acquisition of the pasta business of 8th Avenue Food & Provisions, including a durum mill, three pasta manufacturing facilities (Carrington, ND; New Hope, MN; Winchester, VA) and the Ronzoni brand. The business was sold by Post Holdings/8th Avenue and transfers more than 500 US employees to Richardson, strengthening Richardson's vertically integrated durum-to-pasta supply chain and expanding its retail, private-label, foodservice and ingredient capabilities in North America.

Easy Ice has acquired the ice machine subscription and service division of Kirby Restaurant and Chemical Supply, effective December 1, 2025. The deal transfers all ice-machine-related operations in East Texas to Easy Ice (equipment is primarily Manitowoc), while Kirby will continue operating its remaining business lines; the acquisition strengthens Easy Ice's density in the East Texas market.

Suno, an AI music platform, has acquired Songkick, the live-music discovery service, from Warner Music Group as part of a strategic partnership that also includes licensed AI music models. The deal connects Suno's generative music tools with Songkick's concert and event discovery ecosystem to create new fan experiences and revenue opportunities for artists.

CQ Medical has acquired the Radiation Therapy business unit from Bionix, expanding CQ Medical’s patient positioning and radiotherapy marking product portfolio. The deal transfers Bionix’s radiation therapy product lines and commercial team to CQ Medical while Bionix retains its Ambulatory Care business based in Maumee, Ohio.

Maven has exited its investment in DPP, a Southampton-based mechanical and electrical (M&E) maintenance contractor, selling the business to an undisclosed UK private company. The sale generated a reported return of between 2.1x and 2.5x cost for Maven client funds; DPP has over 180 employees and c.£19m turnover, serving large hospitality and retail clients via recurring maintenance contracts and project work.

McAfee has completed the acquisition of MineOS's consumer privacy division. MineOS will divest its consumer product to focus fully on enterprise privacy, risk management, and AI governance, reinvesting proceeds to accelerate its enterprise platform development.

Kingdom of Threads has acquired the TTRPG (tabletop role-playing game) merchandise line from Storymakers Trading Co., expanding its product catalog beyond bookish merchandise into gaming-themed pins, stickers, washi tapes, and greeting cards. The Storymakers brand name will continue under new owner Marie Criddle, who will focus on the fantasy-style state map collection; founder Tomi Ann Hill has transitioned the TTRPG product line to Kingdom of Threads so she can move into a new chapter.

Cathay Capital has completed the sale of its approximately 5% minority stake in the Diot-Siaci Group, closing the ownership restructuring that was announced earlier in 2025. The buyer for Cathay's stake was not disclosed in the announcement; the group's shareholder base includes the Burrus Group and management as majority holders and institutional investors such as Ontario Teachers', Bpifrance and Mubadala, with Ardian named as a lead investor in the broader ownership reorganisation.

PCMI has acquired the Enterprise Solutions Business Unit of StoneEagle, adding administration software systems for contract and claims management to its F&I platform. The deal, following PCMI's investment by Thoma Bravo, is intended to strengthen PCMI's capabilities in the automotive finance & insurance administration space; StoneEagle’s Retail Business Unit will continue to operate independently.

OTR Solutions has acquired TruckSmarter’s factoring and business banking division, assuming all factoring and banking operations and onboarding TruckSmarter’s factoring clients. The deal lets TruckSmarter focus on its AI-driven dispatching and load board technology while expanding OTR’s freight finance and banking capabilities for carriers nationwide.

Azurity Pharmaceuticals has acquired Sebela Pharmaceuticals' bowel preparation franchise, including two leading bowel prep therapies used for colonoscopies. The deal transfers Sebela's commercial team (more than 50 colleagues) and is intended to strengthen Azurity's gastroenterology product portfolio and U.S. market presence.

Public, the New York–based investing platform, has acquired the CryptoIRA business from Alto. The deal transfers Alto's crypto IRA product and related technology to Public so that Public members will be able to trade cryptocurrencies within their IRAs once integration completes in early 2026.

GreatWater 360 Auto Care has entered the Missouri market by acquiring the three-location mechanical repair division of Complete Auto Body & Repair, expanding its national footprint to nine states and bringing its network closer to 150 locations. The deal covers only the mechanical repair operations (collision repair and towing remain independently owned) and preserves local leadership, branding, and staff while granting the shops access to GreatWater's training, operational support, and teammate benefits.

Provana has acquired Neostella's staffing and talent business, including team members in Colombia and the United States, to expand its global delivery and nearshore capabilities. Neostella will focus exclusively on its legal technology and SaaS offerings while the two companies continue to collaborate on client engagements.

Enghouse Systems Limited has acquired the telecommunications division (“Sixbell Telco”) of Chile-based Sixbell, strengthening Enghouse’s OSS/BSS and network transformation capabilities and expanding its presence in Latin America. The customer experience (CX) division of Sixbell is excluded from the transaction and will remain independent.

Enghouse Systems Limited acquired the telecommunications division ("Sixbell Telco") of Sixbell, a Santiago-headquartered provider of OSS/BSS and network transformation software for Latin American operators. The deal transfers Sixbell's telecom customers, partners and employees to Enghouse and is intended to expand Enghouse's capabilities and presence in the Latin American telecom market.

An Imaginuity subsidiary has acquired the Adwerx digital advertising automation platform and supporting team (≈40 employees) from Adwerx. The platform — used by more than 12,000 users across real estate, mortgage and distributed organizations — will be integrated with Imaginuity’s Pylot CMS and AdScience performance intelligence engine to expand product-led growth and always-on, personalized ad automation for franchise and multi-location clients.

Coast Counties Truck & Equipment Co., part of The Jim Pattison Group, has acquired the business assets of Golden State Peterbilt to expand its presence and service capabilities across Central and Northern California. The deal transfers Golden State Peterbilt locations, employees, customers, and operations into Coast Counties, strengthening its Peterbilt sales, parts, leasing, and full-service repair footprint in the region.

Trinity Life Sciences has acquired EVERSANA’s advisory services operation across Asia-Pacific and the Middle East (APACME), bringing regional teams in Singapore, Tokyo, Mumbai, Shanghai, Sydney and Dubai into Trinity’s global footprint. The transaction deepens Trinity’s local life‑sciences commercialization capabilities while EVERSANA will continue to operate its broader commercialization services and maintain a strategic collaboration with Trinity for shared clients.

World Kinect Corporation (NYSE: WKC) completed the acquisition of the Trip Support Services (TSS) division of Universal Weather and Aviation, expanding its aviation service capabilities and complementing its core fuel business. The transaction is expected to be approximately 7% accretive to adjusted EPS in year one and to deliver about $15 million of annual net cost synergies by the end of year two.

Philadelphia Insurance Companies (PHLY) has acquired the Collector Vehicle Division from Ignyte Insurance in a transaction valued at $615 million. The deal brings four established brands—American Collectors Insurance, J.C. Taylor Insurance, Condon Skelly, and Heacock Classic—into PHLY, adding more than 250 employees and strengthening PHLY's specialty collector vehicle insurance capabilities while allowing Ignyte (a Carlyle-backed platform) to focus on its direct-to-consumer and embedded insurance strategy.

Huron (NASDAQ: HURN) has acquired the payor consulting services division of AXIOM Systems, adding approximately 40 AXIOM team members to strengthen Huron's payor-focused capabilities and accelerate its digital growth strategy. The division will be integrated into Huron's Healthcare operating segment; terms were not disclosed.

Netrix Global has acquired the U.S.-based IT Services business (ITS) of Ricoh USA, Inc., expanding Netrix's managed services, cloud, infrastructure and collaboration offerings and broadening its geographic reach across the Northeast, Mid-Atlantic and Southeast. The deal brings Ricoh's ITS team and customer base into Netrix's cybersecurity and digital transformation platform and is intended to increase scale, technical specialization, and investment in product and talent.

BBG acquired the commercial division of Carlson Norris & Associates from KOVA Companies and will establish a new Fort Myers office to expand its Florida footprint. Industry veteran Michael P. Jonas joins BBG as a Managing Director, and the deal strengthens BBG’s capabilities in government and municipality valuation work while filling a strategic geographic gap in Southwest Florida.

Motion Industries acquired the net operating assets of Sunset Industrial, a Cerritos, California-based distributor of power transmission parts and industrial lubrication solutions, effective Nov. 1, 2025. The acquisition expands Motion's presence and service capabilities in Southern California and brings Sunset's make-to-order parts, repair, inventory management and safety training capabilities into Motion's network.

DuPont has completed the separation of its electronics business into an independent, publicly traded company named Qnity Electronics. The spin-off was finalized on November 1, 2025; DuPont shareholders received one share of Qnity for every two DuPont shares (approximately 209 million Qnity shares were distributed) and Qnity began regular trading on the NYSE under the ticker "Q."

CNX Therapeutics has acquired the global Sativex (nabiximols) business from Jazz Pharmaceuticals, with the deal closing on 31 October 2025. The transaction includes marketing authorisations and commercial rights worldwide and the UK entity SVX Therapeutics Limited; Jazz will support a transition period under a Transition Service Agreement.

Macmillan Publishers has acquired the book, e-book, audiobook, and audio original catalogs of Sounds True. Books and e-books will be published under St. Martin's Essentials and audio content by Macmillan Audio, while Sounds True will concentrate on its direct-to-consumer platform, online learning, events, and digital media.