Tracked deals
137
137 tracked deals across 2025.
Recapitalizations in 2025
Buyer mix
PE-led
177 pe · 40 investor
Top trend
Volume peaked in 2021
264 tracked deals announced in 2021.
Buyer Snapshot
Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Main Street Capital Corporation | 7 | Principal investment firm providing customized long-term ... | PE |
| Everside Capital Partners | 3 | SEC-registered investment advisor and SBIC license holder... | PE |
| Leonard Green & Partners | 3 | Large, Los Angeles-based private equity firm that makes c... | PE |
| Seacoast Capital | 3 | Lower-middle market, non-control growth capital investor ... | PE |
| Tamarix Capital Partners | 3 | Provider of debt and minority equity financing for lower-... | PE |
| Accel-KKR | 2 | Technology-focused private equity firm investing in softw... | PE |
| Argosy Healthcare Partners | 2 | Lower middle-market private equity firm focused exclusive... | PE |
| Bow River Capital | 2 | Denver-based alternative asset manager with a Software Gr... | PE |
| Brentwood Associates | 2 | Middle-market private equity firm focused on consumer and... | PE |
| Carousel Capital | 2 | Middle‑market private investment firm focused on investin... | PE |
Acquisition Volume in Recapitalizations in 2025 by Year
Last 10 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
December 23, 2025
- Buyer
- Brentwood Associates, Tenex Capital Management
- Target
- Perennial Services Group
- Industry
- Professional Services
- Location
- Pennsylvania, United States
- Type
- Recapitalization
Brentwood Associates partnered with Tenex Capital Management to complete an equity recapitalization of Perennial Services Group. Perennial’s management team, led by CEO Jon Allen, reinvested and will remain significant shareholders. The transaction closed on December 23, 2025.
-
December 22, 2025
- Buyer
- LongueVue Capital, Royal Oak Realty Trust
- Target
- Saelens
- Industry
- Manufacturing
- Location
- Wisconsin, United States
- Type
- Recapitalization
LongueVue Capital (LVC) has recapitalized Saelens, a Johnson Creek, Wisconsin-based precision manufacturing platform, partnering with the company’s management to support continued growth and investments in automation and global sourcing. As part of the transaction LVC provided growth capital while related real estate was sold to Royal Oak Realty Trust; Saelens operates under the trade names Diamond Precision Products and Coupling Nut Supply and employs ~230 people.
-
- Buyer
- Roth CH Acquisition Co., Roth CH Holdings, Inc. (renamed SharonAI Holdings, Inc.)
- Target
- SharonAI Inc.
- Seller
- Former equityholders of SharonAI Inc.
- Industry
- AI & Machine Learning
- Location
- Australia
- Type
- Recapitalization
Roth CH Acquisition Co. and Roth CH Holdings Inc. completed a business combination with SharonAI Inc., resulting in Roth CH Holdings domestically merging and renaming to SharonAI Holdings, Inc. SharonAI Inc. became a wholly owned subsidiary of SharonAI Holdings, and the combined company's common stock and warrants began trading on the OTC market under the tickers SHAZ and SHAZW. Former equityholders of SharonAI received shares of the public company pursuant to the business combination agreement.
-
December 18, 2025
- Buyer
- Caldicot Capital, Tamarix Capital Partners
- Target
- Custom Tours, Inc. (d/b/a Kushner & Associates)
- Seller
- Susan Kushner
- Industry
- Transportation
- Location
- California, United States
- Type
- Recapitalization
Affiliates of Caldicot Capital and Tamarix Capital Partners recapitalized Custom Tours, Inc., doing business as Kushner & Associates, in a transaction that closed December 18, 2025. Founder/CEO Susan Kushner will remain as CEO and retain a significant ownership stake while meaningful equity was granted to employees; terms were not disclosed.
-
December 12, 2025
- Buyer
- Leading middle-market, growth-oriented private equity firm (name not specified in source)
- Target
- F12.net
- Seller
- Clairvest Group Inc., Clairvest Equity Partners VI
- Industry
- IT Services
- Location
- Ontario, Canada
- Type
- Recapitalization
Clairvest Group Inc. and Clairvest Equity Partners VI have sold their interests in Canadian managed services provider F12.net. The transaction includes a majority investment from a leading middle-market, growth-oriented private equity firm, alongside meaningful equity reinvestment from existing F12 shareholders and CEO/Founder Alex Webb.
-
December 9, 2025
- Buyer
- Pamlico Capital, Level Equity
- Target
- EHS Insight
- Industry
- Cloud & SaaS
- Location
- Texas, United States
- Type
- Recapitalization
Pamlico Capital has completed a recapitalization investment in EHS Insight, a Houston-based provider of cloud-based environmental, health, and safety (EHS) software, with existing investor Level Equity making a significant re-investment. EHS Insight co-founders Gary McDonald and Eric Stevens will retain meaningful ownership stakes; the capital will support continued product innovation, customer impact, and growth.
-
- Buyer
- Leonard Green & Partners
- Target
- Jones Lake Management
- Seller
- Fort Point Capital
- Industry
- Environmental Services
- Location
- Ohio, United States
- Type
- Recapitalization
Funds managed by Leonard Green & Partners have acquired Jones Lake Management from Fort Point Capital in a sponsor-to-sponsor recapitalization. Fort Point will remain a minority investor; Jones Lake Management — headquartered in Cincinnati, Ohio — provides pond and lake management services across 26 states and will continue its growth under the new majority sponsor.
-
December 3, 2025
- Buyer
- NMS Capital
- Target
- Axiom Medical
- Industry
- Healthcare Services
- Location
- Texas, United States
- Type
- Recapitalization
NMS Capital has made an investment in and recapitalized Axiom Medical, a tech-enabled workplace incident case management provider headquartered in The Woodlands, Texas. The partnership will support Axiom's next stage of growth through new customer expansion, strategic M&A, and continued investment in the company's nurse-led, technology-enabled service platform. Financial terms were not disclosed.
-
November 23, 2025
- Buyer
- Shore Capital Partners (Healthcare Advantage Fund)
- Target
- Reliant Healthcare, Care Fusion Rx
- Industry
- Healthcare Services
- Location
- United States
- Type
- Recapitalization
Shore Capital Partners, via its Healthcare Advantage Fund, completed a majority recapitalization of Reliant Healthcare and merged Reliant with California-based Care Fusion Rx to form a national infusion therapy platform. The combined company will expand home and ambulatory infusion services, leveraging complementary geographic footprints and clinical capabilities to drive growth through new center openings, home infusion expansion, and further acquisitions.
-
November 20, 2025
- Buyer
- HCAP Partners
- Target
- IND, Inc.
- Seller
- IND's majority shareholder
- Industry
- Industrial Services
- Location
- Washington, United States
- Type
- Recapitalization
HCAP Partners has invested in IND, Inc. to support management's buyout of IND's majority shareholder and provide capital for facility expansion, working capital, and growth. IND, headquartered in Vancouver, Washington, provides critical cleaning, coating, refurbishment, and engineering services to semiconductor equipment manufacturers and will remain led by founder and CEO Jonathan Lovegrove.
-
November 20, 2025
- Buyer
- CapVest Partners LLP
- Target
- Curium
- Industry
- Healthcare Services
- Location
- France
- Type
- Recapitalization
Curium and CapVest Partners LLP announced the recapitalization of Curium via a new Continuation Vehicle, valuing Curium at approximately $7 billion. The transaction is expected to be completed in Q1 2026, subject to regulatory approvals, and CapVest will remain the controlling shareholder.
-
Guardian Capital Partners and EA Advisors Complete Majority Recapitalization of Raptor Power SystemsNovember 20, 2025
- Buyer
- Guardian Capital Partners, EA Advisors
- Target
- Raptor Power Systems
- Seller
- Peter and Evan El Koury (Raptor founding family)
- Industry
- Manufacturing
- Location
- Illinois, United States
- Type
- Recapitalization
Guardian Capital Partners, alongside co-investor EA Advisors, completed a majority recapitalization of Raptor Power Systems to support the manufacturer’s next phase of growth. The transaction partners Guardian and EAA with Raptor’s founding family (Peter and Evan El Koury) to expand capacity and serve growing demand from data centers and other mission-critical end markets.
-
- Buyer
- Main Street Capital Corporation
- Target
- Unnamed swim school franchisee (operates 40+ locations across ten U.S. states)
- Industry
- Education
- Location
- United States
- Type
- Recapitalization
Main Street Capital Corporation completed a $47.0 million minority recapitalization of a leading swim school franchisee that operates more than 40 locations across ten U.S. states. The investment included a combination of first-lien senior secured term debt and a direct minority equity stake and was completed in partnership with the company's existing owners and management.
-
November 11, 2025
- Buyer
- Owner Resource Group, LLC
- Target
- Acme Industries, Inc.
- Industry
- Manufacturing
- Location
- Illinois, United States
- Type
- Recapitalization
Owner Resource Group (ORG), an Austin-based private investment firm, has completed a recapitalization investment in Acme Industries, Inc., a specialty manufacturer of complex precision-machined parts and assemblies headquartered in Elk Grove Village, Illinois. Management, led by CEO John Devine, remains meaningful owners and will continue to lead operations while the capital will be used to support organic growth, invest in equipment and capabilities, and pursue strategic acquisitions.
-
November 11, 2025
- Buyer
- Northstar Capital, Seaside Equity Partners
- Target
- TalentSmartEQ
- Industry
- Professional Services
- Location
- California, United States
- Type
- Recapitalization
Northstar Capital provided a credit facility and an equity co‑investment to support Seaside Equity Partners’ refinancing of TalentSmartEQ, a San Diego‑based provider of emotional intelligence training, assessments and certification programs. The recapitalization strengthens TalentSmartEQ’s balance sheet and positions the company for continued growth in the corporate training and EQ assessment market, where its solutions have been adopted by a majority of Fortune 500 companies.
-
November 4, 2025
- Buyer
- Tyree & D'Angelo Partners, HarbourVest Partners, Ares Private Equity Secondaries funds, Syndicate of investors (unnamed), TDP's existing limited and general partners
- Target
- Western Veterinary Partners
- Industry
- Healthcare Services
- Location
- Colorado, United States
- Type
- Recapitalization
Tyree & D'Angelo Partners (TDP) closed a single-asset continuation transaction to extend its investment in Western Veterinary Partners, raising new capital to support Western's organic growth and upcoming acquisitions. The continuation fund was anchored by HarbourVest Partners, with additional commitments from Ares Private Equity Secondaries funds, a syndicate of investors, and TDP's existing limited and general partners.
-
- Buyer
- Argosy Healthcare Partners
- Target
- Integrated Solutions for Benefits and Insurance Services (IS Benefits)
- Industry
- Insurance
- Location
- New Hampshire, United States
- Type
- Recapitalization
Argosy Healthcare Partners completed a recapitalization and partnership with Integrated Solutions for Benefits and Insurance Services (IS Benefits), a Hooksett, New Hampshire–based stop-loss and employee benefits consulting firm. The investment will support IS Benefits' technology investments, geographic expansion, and scaled delivery of stop-loss underwriting, specialty drug management, and claims auditing services.
-
October 28, 2025
- Buyer
- Sterling Investment Partners, HarbourVest Partners, StepStone Group, ICONIQ, Churchill Asset Management, Sterling principals, Sterling's latest buyout fund, XKIG management team
- Target
- XKIG
- Industry
- Industrial Services
- Location
- Virginia, United States
- Type
- Recapitalization
Sterling Investment Partners closed a single-asset continuation vehicle recapitalization of XKIG, co-led by HarbourVest Partners, StepStone Group and ICONIQ, with additional funding from Churchill Asset Management. Sterling principals, Sterling's latest buyout fund and the XKIG management team also invested; the transaction provides capital to support XKIG's continued growth, geographic expansion and service capability investments.
-
October 22, 2025
- Buyer
- Designs for Health, BDT & MSD Partners (affiliated funds)
- Target
- Designs for Health
- Seller
- RoundTable Healthcare Partners
- Industry
- Healthcare Services
- Location
- Florida, United States
- Type
- Recapitalization
Designs for Health repurchased RoundTable Healthcare Partners' minority stake and simultaneously received a new minority investment from affiliated funds of BDT & MSD Partners to support continued growth. Terms were not disclosed; the transaction returns full control/ownership to the Lizotte family while bringing in new capital for expansion.
-
- Buyer
- Lee Equity Partners
- Target
- McLarens Global Limited
- Seller
- Existing shareholders
- Industry
- Insurance
- Location
- Georgia, United States
- Type
- Recapitalization
Lee Equity Partners led a $1.6 billion recapitalization of McLarens Global Limited, with participation from several institutional investors, giving existing shareholders the option of partial liquidity while providing McLarens significant new growth capital. McLarens is a global provider of technical insurance claims and risk consulting services with roughly 1,600 experts across a broad international footprint; the capital will support continued geographic expansion and capability build-out.
-
October 15, 2025
- Buyer
- Main Street Capital Corporation
- Target
- Unnamed musculoskeletal care management services organization (Southeastern U.S.)
- Seller
- Company founders
- Industry
- Healthcare Services
- Location
- United States
- Type
- Recapitalization
Main Street Capital Corporation completed an $81.0 million minority recapitalization of a leading musculoskeletal care management services organization based in the Southeastern United States. The financing, composed of first-lien senior secured term debt and a direct minority equity investment, provides founder liquidity and growth capital to support the company’s multi-site clinical operations across several states.
-
October 6, 2025
- Buyer
- Summit Park
- Target
- DX Electric
- Industry
- Industrial Services
- Location
- Texas, United States
- Type
- Recapitalization
Summit Park has led a majority recapitalization of DX Electric, a Grapevine, Texas-based distributor of electrical c-parts that supplies OEMs across industrial, data center and energy end markets. PennantPark provided debt financing; Stephens Inc. served as financial advisor to DX and McGuireWoods LLP acted as legal counsel to Summit Park. Summit Park intends to support organic growth and expand DX's service capabilities, product offering and geographic footprint, including through acquisitions.
-
October 6, 2025
- Buyer
- Rucker Investments (affiliate)
- Target
- Flow Water Inc.
- Industry
- Food & Beverage
- Location
- Ontario, Canada
- Type
- Recapitalization
An affiliate of Rucker Investments subscribed for new shares of Flow Water Inc. under an Ontario Superior Court-approved reverse vesting order, becoming the company's sole shareholder and taking the business private. Flow, headquartered in Toronto, will continue operations under its Flow brand with a deleveraged balance sheet, access to working capital, and Paul Dowdall appointed as President.
-
September 29, 2025
- Buyer
- Owner Resource Group, LLC
- Target
- Bear Paper Tube, LLC
- Industry
- Packaging
- Location
- Georgia, United States
- Type
- Recapitalization
Owner Resource Group (ORG), an Austin-based private investment firm, has completed a partnership recapitalization with Bear Paper Tube, LLC, a specialty manufacturer of industrial paper tubes and cores headquartered in Dalton, Georgia. ORG will partner with co-founders Michael Wise and Brian Clark and the existing management team to support geographic and end-market expansion and further investment in manufacturing capabilities, while the co-founders retain significant ownership and continue to lead the business.
-
September 24, 2025
- Buyer
- Frontenac
- Target
- Beckway Consulting, LLC
- Industry
- Professional Services
- Location
- New York, United States
- Type
- Recapitalization
Frontenac has recapitalized Beckway, a New York-based professional services firm that provides operational, performance improvement and financial solutions to private equity-backed and corporate clients. The transaction, completed in partnership with Beckway’s co-founders and management and with Shvetank Shah joining as Chairman, will fund team investment, organic growth and the firm’s M&A ambitions; Monroe Capital provided the senior financing and Clearsight Advisors advised Beckway.
-
September 23, 2025
- Buyer
- Accel‑KKR
- Target
- Arbiter
- Seller
- Serent Capital
- Industry
- Software
- Location
- Utah, United States
- Type
- Recapitalization
Accel‑KKR has acquired a majority stake in Arbiter, a Sandy, Utah‑based provider of athletic and school operations management software. Serent Capital, which partnered with Arbiter in 2017, will retain a minority equity position; the investment is intended to accelerate product innovation, expanded services, and scale across the K‑12 and youth sports market.
-
September 23, 2025
- Buyer
- Main Street Capital Corporation
- Target
- The Financial Risk Group, LLC
- Industry
- Financial Services
- Location
- North Carolina, United States
- Type
- Recapitalization
Main Street Capital Corporation invested $14.0 million in a minority recapitalization of The Financial Risk Group, LLC (FRG), funding the transaction with a combination of first lien senior secured term debt and a direct equity investment. FRG, headquartered in Cary, North Carolina, is a technology-enabled risk management firm that provides risk analytics, data management consulting, software implementation and cloud-based hosting services to financial institutions, insurers and other commercial customers.
-
September 23, 2025
- Buyer
- Kedaara Capital
- Target
- Axtria
- Seller
- Current and former employees, Early investors
- Industry
- Data & Analytics
- Location
- New Jersey, United States
- Type
- Recapitalization
Kedaara Capital completed a $240 million transaction in Axtria structured as a mix of secondary investment and a company-sponsored employee share buyback, providing liquidity to current and former employees and early investors. The investment positions Kedaara as a growth partner to support Axtria's continued expansion of its agentic AI-driven data analytics and cloud software offerings for the life sciences industry.
-
September 18, 2025
- Buyer
- Double Barrel Capital
- Target
- Envoy Source, LLC
- Industry
- Logistics & Distribution
- Location
- Tennessee, United States
- Type
- Recapitalization
Houston-based private equity firm Double Barrel Capital completed a majority recapitalization of Memphis-based third-party logistics provider Envoy Source, LLC, with the transaction closing on August 15, 2025. The recapitalization positions Envoy to scale its high-value packaging, fulfillment, and serialized inventory management capabilities and pursue growth under DBC’s support.
-
September 17, 2025
- Buyer
- Seacoast Capital, Wildwood Capital
- Target
- Mail America
- Seller
- Founding shareholders
- Industry
- Marketing & Advertising
- Location
- West Virginia, United States
- Type
- Recapitalization
Seacoast Capital has made a subordinated debt and equity co-investment in Mail America to support a recapitalization led by Wildwood Capital. The deal provides liquidity to Mail America’s founding shareholders and positions the company to invest in people, technology, production capacity and potential add-on acquisitions to accelerate growth.
-
September 16, 2025
- Buyer
- Carousel Capital, OnSight management
- Target
- OnSight Industries
- Seller
- Copeley Capital, OnSight family shareholders
- Industry
- Building Products
- Location
- Florida, United States
- Type
- Recapitalization
Carousel Capital has partnered with OnSight management to recapitalize OnSight Industries, a Sanford, Florida-based provider of custom marketing signage, CBU installation and distribution services. The transaction involves existing investor Copeley Capital and facilitates founder succession while providing capital to support continued growth across the Southeast.
-
September 16, 2025
- Buyer
- Oakley Capital, Two third‑party co‑investors (unnamed)
- Target
- Affinitas (Affinitas Education)
- Seller
- Oakley Capital Fund IV
- Industry
- Education
- Location
- United Kingdom
- Type
- Recapitalization
Oakley Capital’s Fund VI is investing new capital into its K12 platform Affinitas (Affinitas Education) alongside two third‑party co‑investors, while Oakley Capital Fund IV is selling part of its stake and retaining a minority. The injection of funds is intended to support further organic and M&A-led expansion of Affinitas, which now comprises ~20 schools and around 14,000 students worldwide.
-
September 15, 2025
- Buyer
- Accord Asset Partners, Paras Capital Partners
- Target
- WestStar Physical Therapy Network
- Industry
- Healthcare Services
- Location
- California, United States
- Type
- Recapitalization
Accord Asset Partners, together with Paras Capital Partners, completed a recapitalization of WestStar Physical Therapy Network, a Southern California-based provider specializing in workers' compensation and auto-injury rehabilitation. The recapitalization provides capital and strategic support to scale WestStar's managed clinic network across California and expand into additional states.
-
September 11, 2025
- Buyer
- Bow River Capital, RippleWorx
- Target
- meQuilibrium
- Industry
- Cloud & SaaS
- Location
- Colorado, United States
- Type
- Recapitalization
Bow River Capital's Software Growth Equity Team has completed a majority recapitalization of meQuilibrium, merging the company with RippleWorx to create a market-leading human capital management firm focused on workforce mental health and performance. The combined business will be dual‑headquartered in Denver and Boston, with meQuilibrium founder Jan Bruce leading and RippleWorx CEO Steve Foster serving as Chairman and Head of Revenue Growth.
-
September 10, 2025
- Buyer
- BharCap Partners
- Target
- GCG Advisory Partners
- Seller
- LNC Partners
- Industry
- Financial Services
- Location
- North Carolina, United States
- Type
- Recapitalization
BharCap Partners made a strategic recapitalization investment in GCG Advisory Partners, the parent of GCG Wealth Management, with GCG management rolling over significant equity. The transaction provides capital to accelerate GCG's M&A-driven acquisition strategy and Monetize & Scale platform; prior investor LNC Partners exited its investment.
-
September 10, 2025
- Buyer
- Taurus Capital Partners
- Target
- Pathlight Learning
- Seller
- Sarah Albahadily, Previous co-owners
- Industry
- Education
- Location
- United States
- Type
- Recapitalization
Taurus Capital Partners has made a platform investment to form and recapitalize Pathlight Learning, a leading franchisee of Primrose Schools, partnering with existing owner and manager Sarah Albahadily and other prior co-owners. The recapitalization provides Pathlight with resources to expand its Primrose school footprint nationally while retaining management continuity.
-
September 10, 2025
- Buyer
- Tower Arch Capital
- Target
- Documotion Research, Inc.
- Seller
- Van Boom family
- Industry
- Packaging
- Location
- Tennessee, United States
- Type
- Recapitalization
Tower Arch Capital has recapitalized Documotion Research, Inc. (DRI), the Columbia, Tennessee-based manufacturer of StickyPOS linerless labels, partnering with the Van Boom family while Joel Van Boom remains CEO. The investment will support expanded production, product development and entry into new end markets (including healthcare and logistics); terms were not disclosed.
-
September 9, 2025
- Buyer
- Industrial Opportunity Partners, Oaktree Capital Management, L.P., Sandton Capital Partners, LP, Contrarian Capital Management, L.L.C.
- Target
- Charcuterie Artisans
- Industry
- Food & Beverage
- Location
- Rhode Island, United States
- Type
- Recapitalization
Industrial Opportunity Partners (IOP) led a recapitalization of Charcuterie Artisans, the parent of Creminelli Fine Meats and Del Duca, acquiring the company’s assets and assuming majority ownership alongside capital partners Oaktree Capital Management, Sandton Capital Partners and Contrarian Capital Management. The transaction eliminated approximately $200 million of debt, secured a new working capital facility from PNC Business Credit, and positions Charcuterie to expand capabilities, strengthen customer partnerships and invest in growth across its premium charcuterie portfolio. Jeff "Trip" Tripician was appointed CEO to lead the company’s next phase.
-
September 8, 2025
- Buyer
- Thesis Capital Partners, Prospect Capital Corporation
- Target
- The Ridge Ohio
- Industry
- Healthcare Services
- Location
- Ohio, United States
- Type
- Recapitalization
Thesis Capital Partners completed a recapitalization of The Ridge Ohio, a physician-led residential and outpatient addiction treatment provider, with Prospect Capital Corporation participating as senior lender and equity co-investor. The transaction will support growth initiatives including expansion of the physician-led clinical team, enhancement of holistic services, and continued investment in The Ridge’s 51-acre campus.
-
September 3, 2025
- Buyer
- Insignia Capital Group
- Target
- Tidal Investments LLC (Tidal Financial Group)
- Industry
- Financial Services
- Location
- New York, United States
- Type
- Recapitalization
Insignia Capital Group has made a strategic recapitalization investment in Tidal Investments LLC (Tidal Financial Group), providing capital to support the firm's continued growth while preserving existing majority ownership and executive leadership. The transaction positions Tidal to invest in talent, deepen its ETF services platform and scale operations as the firm supports more than 270 ETFs and over $45 billion in assets under management.
-
September 2, 2025
- Buyer
- Main Street Capital Corporation
- Target
- Unnamed specialty aircraft distributor
- Seller
- Company CEO (sole owner)
- Industry
- Aerospace & Defense
- Location
- United States
- Type
- Recapitalization
Main Street Capital Corporation completed a $45.0 million investment to facilitate a minority recapitalization of an unnamed, Southeastern U.S.-based specialty aircraft distributor. The transaction provides liquidity to the Company's CEO (the sole owner) and consists of first lien senior secured debt plus a direct minority equity investment.
-
September 2, 2025
- Buyer
- LO3 Capital
- Target
- Undisclosed national provider of professional employer organization (PEO) and workers' compensation insurance services
- Seller
- Undisclosed owner-operator
- Industry
- Insurance
- Location
- United States
- Type
- Recapitalization
LO3 Capital provided senior debt and preferred equity to support a U.S.-based owner-operator's recapitalization of a national provider of professional employer organization (PEO) and workers' compensation insurance services. The financing will facilitate an ownership transition, support technology enhancements, and fund growth initiatives to expand the company's national footprint and improve service automation.
-
September 1, 2025
- Target
- Alcrete LLC
- Seller
- Everside Capital Partners
- Industry
- Building Products
- Location
- Illinois, United States
- Type
- Recapitalization
Everside Capital Partners announced the full realization of its investment in Alcrete LLC, a precast and prestressed concrete manufacturer headquartered in Oakbrook Terrace, Illinois. The transaction—details of any external buyer were not disclosed publicly—included a refinancing of Everside's senior subordinated debt and the simultaneous redemption of its equity warrants.
-
September 1, 2025
- Buyer
- Everside Capital Partners, Dubin Clark & Company, Inc., Unnamed Florida-based SBIC, Unnamed North Carolina-based SBIC
- Target
- Rumble Pest Solutions
- Industry
- Environmental Services
- Location
- Arkansas, United States
- Type
- Recapitalization
Everside Capital Partners announced the closing of an investment in Rumble Pest Solutions, a pest-control services provider with operations in Springdale, Arkansas and Springfield and Jefferson City, Missouri, alongside a Florida-based SBIC sponsor and a North Carolina-based SBIC. Separately, Dubin Clark & Company announced a recapitalization of Rumble; the transaction provides sponsor-backed growth/recapitalization capital to support the company’s next phase of expansion and operations.
-
- Buyer
- Maxximum SA
- Target
- Llama Group SA
- Industry
- Media & Entertainment
- Location
- Brussels, Belgium
- Type
- Recapitalization
Llama Group SA's Extraordinary General Meeting approved issuance of subscription rights and ratified a loan agreement with Maxximum SA, including the contribution of Maxximum SA's receivables in exchange for shares. The share issuance to Maxximum SA will be carried out at a later stage (no later than December 31, 2025) as part of measures to strengthen Llama Group's financing structure.
-
August 27, 2025
- Buyer
- Signet Healthcare Partners, Windham Capital Partners, MVolution Partners
- Target
- PainTEQ
- Industry
- Medical Devices
- Location
- Florida, United States
- Type
- Recapitalization
PainTEQ, a Tampa-based developer of minimally invasive sacroiliac (SI) joint implants, completed a majority growth recapitalization co-led by Signet Healthcare Partners and Windham Capital Partners with a new equity investment from MVolution Partners. The capital will fund clinical studies, next-generation product development and expansion of PainTEQ's U.S. commercial presence; transaction terms were not disclosed.
-
August 26, 2025
- Buyer
- Brigade Capital Management, Arbour Lane Capital Management, Anchorage Capital Group
- Target
- Gabe's (Gabriel Brothers)
- Seller
- Existing term lenders / existing investors
- Industry
- Retail
- Location
- West Virginia, United States
- Type
- Recapitalization
Gabe's, a Morgantown-based off-price retailer, closed a recapitalization where existing term lenders converted over 75% of outstanding term loans into equity and a group of existing investors (led by Brigade Capital Management, Arbour Lane Capital Management and Anchorage Capital) assumed majority ownership. The transaction provides new capital, reduces debt, and is supported by continued ABL financing from Second Avenue Capital Partners and Ares Credit funds while Gabe’s finalizes vendor and landlord agreements to strengthen its store portfolio and operations.
-
August 26, 2025
- Buyer
- Carousel Capital
- Target
- CraneWorks
- Seller
- David Upton, Steve Upton
- Industry
- Industrial Services
- Location
- Alabama, United States
- Type
- Recapitalization
Carousel Capital has recapitalized CraneWorks, partnering with brothers David and Steve Upton who will remain significant continuing owners. The recapitalization—funded from Carousel’s sixth fund with senior debt provided by PNC Bank, Truist Financial, and Pinnacle Financial Partners—will fund fleet expansion and deepen CraneWorks’ operated crane and equipment rental service offerings from its Birmingham, Alabama base.
-
August 22, 2025
- Buyer
- Sundara Partners, LLC
- Target
- Premier DataCom, LLC
- Industry
- Electrical Services
- Location
- Texas, United States
- Type
- Recapitalization
Premier DataCom, a Texas-based low-voltage contractor, emerged from Chapter 11 after Sundara Partners provided a debtor-in-possession loan and acquired a majority ownership stake. Company president Ryan Willis will remain in leadership with partial ownership as Sundara provides capital and turnaround support to position PDC for growth serving data centers, commercial, municipal, and multifamily clients across Central Texas.
-
August 20, 2025
- Buyer
- Riata Capital Group
- Target
- COEO Solutions
- Seller
- Founder and CEO Eric Wince, President Frank Ruffolo, COEO management team
- Industry
- IT Services
- Location
- Illinois, United States
- Type
- Recapitalization
Riata Capital Group led a recapitalization of COEO Solutions alongside Founder & CEO Eric Wince, President Frank Ruffolo, and the company's management team. The investment will support COEO's accelerated expansion of its managed network and cloud communications offerings for small- and mid-sized multi-location enterprises and enable organic growth as well as strategic add-on activity.
Full Export
Purchase this data
Get the full acquisitions list for this page as CSV + XLSX.
Build a buyer list for your deal
Turn recent acquisition activity into a targeted buyer workflow.