Tracked deals
148
148 tracked deals across 2026.
Recapitalizations in 2026
Buyer mix
PE-led
198 pe · 19 strategic
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 | 6 | Lower-middle-market principal investment firm providing c... | PE |
| Apollo S3 | 4 | Apollo’s Sponsor & Secondary Solutions business providing... | PE |
| Hamilton Lane | 4 | Alternative investment manager that led the $270M single-... | PE |
| Ares Management | 3 | Investment manager managing private capital and credit st... | PE |
| Blackstone | 3 | Alternative investment manager active across private equi... | PE |
| Carlyle AlpInvest | 3 | Global private equity investor and secondary/portfolio fi... | PE |
| Coller Capital | 3 | Specialist investor in the secondary market for private a... | PE |
| GIC | 3 | Singapore sovereign wealth fund that co-invests in infras... | Investor |
| Antares Capital | 2 | Private credit manager and alternative asset manager focu... | PE |
| Apogem Capital | 2 | Investment firm/private markets investor co-leading a con... | PE |
Acquisition Volume in Recapitalizations in 2026 by Year
Last 10 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
- Buyer
- Fotovat family, Riverside Natural Foods
- Target
- Prelude Growth Partners minority stake in Riverside Natural Foods / MadeGood
- Seller
- Prelude Growth Partners
- Industry
- Food & Beverage
- Location
- United States
- Type
- Recapitalization
Riverside Natural Foods (the parent company of MadeGood) returned to full family ownership after the Fotovat family repurchased Prelude Growth Partners’ minority stake. The buyback ended more than four years of partnership in which MadeGood expanded its U.S. retail presence, leadership team, product innovation, and manufacturing footprint.
-
October 8, 2026
- Buyer
- United States Consortium (unnamed U.S. anchor investor), Kyma Capital Limited, Trifon Natsis, Glencore Ltd.
- Target
- Sherritt International Corporation
- Industry
- Industrial Services
- Location
- Ontario, Canada
- Type
- Recapitalization
Sherritt International has received a fully-funded, non-binding recapitalization proposal from a Glencore-backed United States consortium that would acquire at least a 55% controlling stake in the company at C$0.12 per share. The consortium’s bid includes immediate equity funding with no third-party debt-financing condition and offers eligible existing shareholders the right to participate pro rata at the same price.
-
October 1, 2026
- Buyer
- M-One Capital
- Target
- Scooter's Coffee
- Industry
- Consumer Products
- Location
- Nebraska, United States
- Type
- Recapitalization
M-One Capital completed a comprehensive recapitalization of Scooter's Coffee, including an inaugural whole business securitization and the closing of a single-asset continuation vehicle sponsored by M-One Capital. The continuation vehicle provides liquidity to existing investors while allowing M-One, management, and participating investors to continue backing Scooter's next phase of growth.
-
September 29, 2026
- Buyer
- Inverness Graham
- Target
- EasyLlama
- Industry
- Cybersecurity
- Location
- Pennsylvania, United States
- Type
- Recapitalization
Inverness Graham announced the majority recapitalization of EasyLlama, a governance, risk, and compliance (GRC) platform purpose-built for small and medium-sized businesses. The investment aims to accelerate EasyLlama’s growth by deepening its GRC software capabilities, expanding its content ecosystem, and scaling via strategic acquisitions.
-
September 14, 2026
- Buyer
- Amulet Capital Partners, StepStone Group
- Target
- US Fertility
- Industry
- Healthcare Services
- Location
- United States
- Type
- Recapitalization
Amulet Capital Partners closed a recapitalization of US Fertility through a new continuation vehicle to support the fertility services platform’s continued growth. StepStone acted as the sole lead investor, with other existing and new investors participating. Financial terms were not disclosed.
-
September 14, 2026
- Buyer
- Medtronic plc
- Target
- MiniMed
- Industry
- Healthcare Services
- Type
- Recapitalization
Medtronic plc has announced an exchange offer that would allow MiniMed to become fully autonomous, with Medtronic shareholders exchanging Medtronic ordinary shares for MiniMed common stock. After the exchange offer (including related transactions) is effectuated, Medtronic expects it will no longer hold an equity stake in MiniMed.
-
September 9, 2026
- Buyer
- Point 41 Capital Partners
- Target
- Safe-Way Garage Doors, LLC
- Seller
- CW Industrial Partners (CWI)
- Industry
- Manufacturing
- Location
- Indiana, United States
- Type
- Recapitalization
Point 41 Capital Partners (Point 41) partnered with Safe-Way Garage Doors management to recapitalize Safe-Way, acquiring the company from CW Industrial Partners (CWI). The investment will support Safe-Way’s next phase of growth as it expands manufacturing and distribution and broadens its product portfolio.
-
September 9, 2026
- Buyer
- Peterson Partners, NorthSands Capital
- Target
- Kelso Industries
- Seller
- Paceline Equity Partners
- Industry
- HVAC & Mechanical
- Location
- Utah, United States
- Type
- Recapitalization
Peterson Partners closed a $510 million single-asset continuation vehicle for Kelso Industries, with NorthSands Capital committing more than $450 million as the sole lead investor. Peterson Partners Fund X rolled its Kelso position into the new vehicle and added capital; Paceline Equity Partners’ preferred equity investment was redeemed in full as part of the transaction.
-
- Buyer
- GoPro, Inc.
- Target
- Starman Optical, Inc.
- Industry
- Cloud & SaaS
- Location
- California, United States
- Type
- Recapitalization
GoPro and Starman Optical entered into a definitive merger agreement under which GoPro will receive Starman’s U.S.-manufactured optical transceivers and related photonics capabilities. GoPro shareholders will receive $285 million in cash, GoPro will repay about $92 million of debt at closing, and the combined company is expected to remain publicly listed on Nasdaq, closing by year-end 2026 subject to approvals.
-
- Buyer
- Carrick Capital Partners, Coller Capital, HSBC Asset Management
- Target
- Saviynt
- Industry
- Cybersecurity
- Location
- United States
- Type
- Recapitalization
Carrick Capital Partners closed a single-asset continuation vehicle for identity security company Saviynt, committing $255 million of new capital (within roughly $600 million of total capital commitments). The structure gives existing limited partners the option to roll into the continuation vehicle or take liquidity via a tender offer for Saviynt employees, alongside ongoing Series B financing activity.
-
August 27, 2026
- Buyer
- Apollo Global Management (Apollo-managed funds), KKR (KKR-managed funds), GIC
- Target
- Atlantic Aviation
- Seller
- KKR
- Industry
- Transportation
- Location
- United States
- Type
- Recapitalization
Apollo-managed funds have agreed to acquire a significant (co-controlling) interest in Atlantic Aviation, valuing the private aviation fixed-base operator platform at nearly $10 billion. KKR-managed funds will remain substantial shareholders, and GIC is reported as a co-investor in the transaction.
-
August 25, 2026
- Buyer
- Backcast Partners, Raven Capital Management, Cloverlay
- Target
- Crossroads Live, Inc.
- Industry
- Media & Entertainment
- Location
- New York, United States
- Type
- Recapitalization
Backcast Partners provided a strategic senior secured debt investment to support the recapitalization of Crossroads Live, Inc. Crossroads is an existing portfolio company of Raven Capital Management and Cloverlay, which have built the company through incremental acquisitions in theatrical IP touring.
-
- Buyer
- Ares Management, Existing lenders (including funds managed by Ares and other global asset managers)
- Target
- FORTNA
- Seller
- Holders of 74% of FORTNA's funded debt, FORTNA's sponsors
- Industry
- IT Services
- Type
- Recapitalization
Logistics automation and software company FORTNA entered into an agreement for a debt-for-equity recapitalization with holders of 74% of its funded debt and its sponsors. Ownership is expected to transition to FORTNA’s existing lenders, including funds managed by Ares Management and other global asset managers, along with a roughly $150 million equity cash infusion and about $1.8 billion reduction in funded debt.
-
August 19, 2026
- Buyer
- Seacoast Capital
- Target
- Aarista
- Industry
- Healthcare Services
- Location
- Washington, United States
- Type
- Recapitalization
Seacoast Capital announced a non-control growth capital investment in Aarista to support a balance sheet recapitalization. The firm provided subordinated debt to help recapitalize certain existing indebtedness and provide working capital for Aarista’s continued growth.
-
- Buyer
- Stone Point Capital, Genstar Capital
- Target
- Ascensus
- Industry
- Financial Services
- Location
- Pennsylvania, United States
- Type
- Recapitalization
Stone Point Capital and Genstar Capital will each invest new capital and hold equal stakes in Ascensus under a new co-ownership structure. Ascensus will continue operating under its existing leadership, client relationships, and service model, while Stone Point and Genstar assume joint governance upon closing.
-
August 18, 2026
- Buyer
- Main Street Capital Corporation
- Target
- Midstream Valve Partners, LLC (MVP)
- Seller
- MVP's founder (partnered with Main Street on the transaction)
- Industry
- Energy
- Location
- Texas, United States
- Type
- Recapitalization
Main Street Capital completed a $39.3 million minority recapitalization of Midstream Valve Partners (MVP). The investment combines first-lien, senior secured term debt with a direct minority equity stake, partnering with MVP’s founder while preserving MVP’s operational independence.
-
LongueVue Capital and Lake Ten Capital Partners recapitalize Customized Distributions Services (CDS)August 18, 2026
- Buyer
- LongueVue Capital, Lake Ten Capital Partners
- Target
- Customized Distributions Services (CDS)
- Industry
- Transportation
- Location
- New Jersey, United States
- Type
- Recapitalization
LongueVue Capital (LVC) and Lake Ten Capital Partners (LTCP), together with the management team of Customized Distributions Services (CDS), announced a recapitalization and growth capital partnership. The investment is intended to fund strategic initiatives, including expansion of CDS’s geographic footprint and service offerings.
-
- Buyer
- Main Street Capital Corporation
- Target
- Midstream Valve Partners
- Industry
- Industrial Services
- Location
- United States
- Type
- Recapitalization
Main Street Capital announced a $39.3 million investment into the recapitalization of Midstream Valve Partners. The infusion strengthens the company’s balance sheet to fund strategic initiatives serving the North American energy pipeline sector.
-
- Buyer
- Blackstone, KKR & Co.
- Target
- Affordable Care, LLC
- Seller
- Harvest Partners, Berkshire Partners
- Industry
- Healthcare Services
- Location
- North Carolina, United States
- Type
- Recapitalization
Affordable Care, LLC, a national dental support organization (DSO), completed a sweeping debt restructuring that removes more than $1 billion of debt and injects $75 million in fresh capital. Under the terms, the former private equity sponsors are wiped out and the reorganized company is owned by its direct lenders, including Blackstone and KKR & Co.
-
August 12, 2026
- Buyer
- Blue Point Capital Partners
- Target
- Dumpsters.com
- Industry
- Industrial Services
- Location
- Ohio, United States
- Type
- Recapitalization
Blue Point Capital Partners recapitalized Dumpsters.com, a national, asset-light provider of temporary roll-off dumpsters and related jobsite site services. The investment is intended to help the company deepen business-to-business sales, expand complementary site services, and pursue acquisitions in a fragmented market.
-
August 11, 2026
- Buyer
- Apollo S3, Monogram Capital Partners, Partners Capital, TIFF, H7 Capital
- Target
- Mountaintop Beverage
- Seller
- Monogram Capital Partners II, L.P. (Fund II)
- Industry
- Food & Beverage
- Location
- West Virginia, United States
- Type
- Recapitalization
Apollo S3 (Apollo’s Sponsor & Secondary Solutions business) led a newly formed single-asset continuation vehicle to acquire Mountaintop Beverage from Monogram Capital Partners II, L.P. The transaction closed on August 11, 2026, transferring Mountaintop into the continuation vehicle with participation from other institutional investors, while Monogram and Mountaintop management retain ownership.
-
August 11, 2026
- Buyer
- Exponent, Apollo S3, Pantheon, SQ Capital, LGT Capital Partners, Hamilton Lane (direct equity funds managed)
- Target
- H&MV Engineering
- Seller
- Exponent Fund IV, certain minority investors
- Industry
- Industrial Services
- Location
- Munster, Ireland
- Type
- Recapitalization
Exponent has closed an approximately €750 million single-asset continuation vehicle to extend its investment in H&MV Engineering, valuing the Ireland-headquartered infrastructure engineering company at €1.4 billion. The continuation vehicle, led by Apollo S3, Pantheon and SQ Capital, will acquire H&MV from Exponent Fund IV and certain minority investors, subject to customary regulatory approvals and closing conditions.
-
Carlyle Global Credit Invests in Prime Capital Financial (Minority Stake) With Abry Partners ExitingAugust 7, 2026
- Buyer
- Carlyle (Global Credit platform)
- Target
- Prime Capital Financial
- Seller
- Abry Partners
- Industry
- Financial Services
- Location
- Kansas, United States
- Type
- Recapitalization
Carlyle’s Global Credit platform agreed to provide approximately $600 million of hybrid capital to Prime Capital Financial, taking a minority ownership position valued at more than $1.8 billion enterprise value. Abry Partners, which invested in Prime Capital Financial in 2023, will exit as part of the transaction, while Prime’s advisor-led model and majority employee ownership structure are preserved.
-
August 4, 2026
- Buyer
- Exeter Street Capital Partners, Capitala Group, Five Points Capital
- Target
- Price Circuits LLC, Circuitronics LLC
- Seller
- Varghese family
- Industry
- Industrial Services
- Location
- Illinois, United States
- Type
- Recapitalization
Exeter Street Capital Partners (the private equity affiliate of Patriot Capital Group) announced the recapitalization of Price Circuits LLC and Circuitronics LLC, forming a new buy-and-build strategy for advanced printed circuit boards (PCBs). The transaction is completed in partnership with Capitala Group, Five Points Capital, and the Varghese family, which remains a shareholder, with Pinnacle Bank providing senior working capital financing.
-
- Buyer
- Wacona Capital, Painswick Capital
- Target
- Core States Group
- Industry
- Engineering Services
- Location
- United States
- Type
- Recapitalization
Wacona Capital closed a $210 million single-asset continuation vehicle for Core States Group, led by Painswick Capital. The transaction provides liquidity to existing investors while funding Core States Group’s organic growth plan, deeper client relationships, and potential acquisitions.
-
- Buyer
- Hamilton Lane, Cynosure Partners
- Target
- Savant Wealth Management
- Industry
- Financial Services
- Location
- Illinois, United States
- Type
- Recapitalization
Cynosure Partners secured a $270 million minority continuation investment in Rockford, Illinois-based RIA aggregator Savant Wealth Management through a vehicle led by Hamilton Lane. The transaction injects fresh capital while giving earlier Cynosure investors an option for liquidity about 10 years after the original 2016 investment.
-
- Buyer
- Inverness Graham Investments (IGI), Balance Point Capital Advisors, LLC (and its affiliated funds)
- Target
- ShipSigma
- Industry
- Cloud & SaaS
- Location
- United States
- Type
- Recapitalization
ShipSigma, an AI-powered parcel and supply-chain optimization platform, received a majority investment from Inverness Graham Investments (IGI). Balance Point Capital provided debt and equity capital to facilitate IGI’s recapitalization of the company.
-
- Buyer
- Platinum Equity
- Target
- The Mellott Company (Mellott)
- Seller
- MFG Partners, Mellott family
- Industry
- Industrial Services
- Location
- Pennsylvania, United States
- Type
- Recapitalization
Platinum Equity’s credit team led a debt recapitalization for The Mellott Company. The financing supports Mellott’s existing owners—MFG Partners and the Mellott family—which continue to own the business.
-
- Buyer
- Health Catalyst Capital (HCC)
- Target
- Midwest psychiatric care provider (leading practice serving elderly and disabled adults)
- Industry
- Healthcare Services
- Location
- United States
- Type
- Recapitalization
Health Catalyst Capital (HCC), a New York-based private equity firm, acquired a leading Midwest provider of psychiatric care for elderly and disabled adults. MidCap Advisors served as the exclusive financial advisor and the practice plans to expand its regional footprint with HCC’s healthcare network and operational expertise.
-
July 28, 2026
- Buyer
- Tower Arch Capital
- Target
- Boxzooka eFulfillment, LLC
- Seller
- Brendan Heegan (transitioning to advisory Chairman of the Board as part of the transaction)
- Industry
- IT Services
- Location
- New Jersey, United States
- Type
- Recapitalization
Tower Arch Capital partnered with Brendan Heegan and the Boxzooka executive team to recapitalize Boxzooka eFulfillment, a technology-driven third-party logistics (3PL) and fulfillment partner for premium e-commerce brands. The transaction includes strategic guidance, governance, M&A support, and capital to help Boxzooka accelerate investment in its proprietary fulfillment technology and expand its logistics network.
-
July 27, 2026
- Buyer
- Morgan Stanley Expansion Capital
- Target
- Conversica
- Industry
- AI & Machine Learning
- Location
- California, United States
- Type
- Recapitalization
Conversica launched Ignite, an AI-native revenue activation engine for automotive dealers and dealer groups, connecting customer, vehicle, sales, service, and conversation data into a single context layer. The company also announced a majority recapitalization led by a fund managed by Morgan Stanley Expansion Capital, which will acquire a majority stake while Conversica management continues to lead and retain significant ownership.
-
- Buyer
- leading middle market healthcare private equity fund
- Target
- The Skin Center
- Seller
- Footbridge Partners, ALZA Capital Partners
- Industry
- Healthcare Services
- Location
- United States
- Type
- Recapitalization
The Skin Center, a portfolio company of Footbridge Partners and ALZA Capital Partners, was sold to a leading middle market healthcare private equity fund. Mesirow served as the exclusive financial advisor to The Skin Center, with the transaction described as a recapitalization aimed at accelerating growth across its med spa and cosmetic surgery locations.
-
July 23, 2026
- Buyer
- Warburg Pincus Capital Solutions Founders Fund (WPCS FF), Goldman Sachs Alternatives, Sixth Street
- Target
- Paradigm Oral Health
- Seller
- BlackRock Long Term Private Capital (BlackRock LTPC)
- Industry
- Healthcare Services
- Location
- Nebraska, United States
- Type
- Recapitalization
Paradigm Oral Health announced a buyback of BlackRock Long Term Private Capital’s ownership stake, returning majority control to its surgeons and management. The buyback is backed by an investment led by Warburg Pincus, in partnership with Goldman Sachs Alternatives and Sixth Street.
-
- Buyer
- Mike Kortas
- Target
- NEXA Lending
- Seller
- Mat Grella
- Industry
- Financial Services
- Location
- Arizona, United States
- Type
- Recapitalization
NEXA Lending announced the successful resolution of all litigation between CEO Mike Kortas and former business partner Mat Grella. The settlement establishes Kortas as the sole owner of NEXA Lending, concluding a multi-year legal dispute and moving the company forward under unified ownership.
-
July 12, 2026
- Buyer
- Bayer AG, Apollo-managed funds and affiliates
- Target
- Bayer long-acting reversible contraceptives (LARC) business (held in newly established entity)
- Industry
- Pharmaceuticals
- Location
- North Rhine-Westphalia, Germany
- Type
- Recapitalization
Bayer will secure €3 billion in equity capital via an agreement with Apollo, with Apollo-managed funds taking a minority, non-controlling stake in a newly established entity holding Bayer’s long-acting reversible contraceptives (LARC) business. Bayer will retain a majority stake and full operational control, and the LARC business will remain part of Bayer’s Pharmaceuticals Division and be fully consolidated for financial reporting purposes. The transaction is expected to close in Q3 2026, subject to antitrust approval and customary closing conditions.
-
July 9, 2026
- Buyer
- TCW Steel City, Brightwood, CIFC, CalSTRS
- Target
- Lone Peak Dental Group
- Industry
- Healthcare Services
- Location
- Colorado, United States
- Type
- Recapitalization
TCW Steel City acted as lead arranger and administrative agent on the $170 million recapitalization of Lone Peak Dental Group. The financing includes a term loan, revolver, and delayed draw term loan intended to support Lone Peak’s future acquisitions and continued growth of its pediatric dental network.
-
- Buyer
- Behrman Capital, Behrman Capital VII L.P., Behrman Capital CV II L.P., Coller Capital, Northleaf Capital Partners, Siguler Guff
- Target
- Shur-Co, LLC (Shurco)
- Seller
- Behrman Capital VI L.P. (Fund VI), Other investors
- Industry
- Industrial Services
- Location
- South Dakota, United States
- Type
- Recapitalization
Behrman Capital closed Behrman Capital CV II L.P., a single-asset continuation vehicle of approximately $250 million connected to the sale of its portfolio company Shur-Co, LLC (Shurco). The continuation vehicle is managed by Behrman and backed by new and returning investors including Coller Capital, with additional investment from Northleaf Capital Partners and Siguler Guff; Behrman Capital VII also made a significant investment alongside the vehicle.
-
- Buyer
- AB Electrolux
- Target
- AB Electrolux
- Industry
- Consumer Products
- Location
- Sweden
- Type
- Recapitalization
AB Electrolux carried out a rights issue of Class A and Class B shares, resulting in a substantial increase in the total number of shares and votes. Additionally, during June 2026, 797,821 Class A shares were converted into the same number of Class B shares, decreasing total votes by 718,038.9.
-
- Buyer
- Flexpoint Ford, LLC, Lexington Partners, Barings, Round2 Investment Partners
- Target
- SageSure LLC
- Industry
- Insurance
- Location
- Illinois, United States
- Type
- Recapitalization
Flexpoint Ford has closed a $460 million single-asset continuation vehicle for SageSure LLC, a managing general underwriter focused on catastrophe-exposed property insurance markets. The transaction extends Flexpoint’s ownership while giving existing investors the option to realize liquidity or roll over, and brings Lexington Partners as the lead investor along with participation from Barings and Round2 Investment Partners.
-
June 24, 2026
- Buyer
- Unknown (new financial sponsor), MSC Income Fund, Inc. (via acquired minority equity position included in sale proceeds), Main Street Capital Corporation (via acquired minority equity position included in sale proceeds)
- Target
- Centre Technologies Holdings, LLC
- Seller
- MSC Income Fund, Inc., Main Street Capital Corporation
- Industry
- IT Services
- Location
- Texas, United States
- Type
- Recapitalization
MSC Income Fund (NYSE: MSIF) and Main Street Capital Corporation (NYSE: MAIN) exited their investments in Centre Technologies Holdings, LLC (Centre) following the completion of a majority recapitalization with a new financial sponsor. The exits realized gains of $11.6 million for MSC Income Fund and $46.4 million for Main Street, with Centre having grown through a seven-and-a-half-year “buy-and-build” strategy and seven follow-on acquisitions.
-
- Buyer
- LightBay Capital
- Target
- Centre Technologies Holdings, LLC
- Seller
- Main Street Capital Corporation, MSC Income Fund, Inc.
- Industry
- IT Services
- Location
- Texas, United States
- Type
- Recapitalization
Main Street Capital Corporation exited its debt and equity investments in Centre Technologies Holdings, LLC following the completion of a majority recapitalization with a new financial sponsor. Centre provides IT services including managed services, cloud solutions, cybersecurity, IT consulting and business intelligence to lower and middle market businesses.
-
June 19, 2026
- Buyer
- Blackstone, Apollo, FS KKR Capital Corp (FSK)
- Target
- Medallia
- Seller
- Thoma Bravo
- Industry
- Cloud & SaaS
- Location
- Virginia, United States
- Type
- Recapitalization
Medallia entered into a recapitalization agreement with its lenders that will reduce outstanding debt and provide $150 million of new capital. Upon completion, Medallia’s ownership will transition from Thoma Bravo to an investor group led by Blackstone, Apollo, and FS KKR Capital Corp.
-
June 16, 2026
- Buyer
- Cyprium Partners
- Target
- Rottler Manufacturing
- Seller
- Bochi Investments
- Industry
- Industrial Services
- Location
- Washington, United States
- Type
- Recapitalization
Cyprium Partners, along with two other SBIC funds, invested in the recapitalization of Rottler Manufacturing. The financing included debt and equity arranged to support the transaction backed by Oregon-based Bochi Investments.
-
June 16, 2026
- Buyer
- Alberto Zenato
- Target
- Zenato Azienda Vitivinicola S.r.l.
- Seller
- Nadia Zenato
- Industry
- Food & Beverage
- Location
- Italy
- Type
- Recapitalization
Nadia Zenato transferred part of her stake in Zenato Azienda Vitivinicola S.r.l. to her brother Alberto, who will become the majority shareholder of the family-owned winery. Nadia will complete the remaining steps of the transition while retaining a minority stake.
-
June 16, 2026
- Buyer
- Bertram Capital, The Bluebird Group founders
- Target
- The Bluebird Group
- Seller
- H.I.G. Capital
- Industry
- Data & Analytics
- Location
- Minnesota, United States
- Type
- Recapitalization
H.I.G. Capital sold its minority stake in The Bluebird Group as the company’s founders and Bertram Capital recapitalized the business. The companies did not disclose financial terms. Bluebird is an omnichannel, data and analytics-driven commerce services partner headquartered in Minneapolis, Minnesota.
-
- Buyer
- Abry Partners, Neuberger Private Markets, Apollo S3 (Apollo's Sponsor and Secondary Solutions business)
- Target
- Centauri Health Solutions
- Industry
- Healthcare Services
- Location
- Arizona, United States
- Type
- Recapitalization
Abry Partners closed a $780 million continuation vehicle to extend its partnership with Centauri Health Solutions, a healthcare technology platform serving U.S. health plans with data-driven solutions. Neuberger Private Markets and Apollo’s Sponsor and Secondary Solutions business co-led as additional committed investors to provide liquidity to existing limited partners while supplying long-term growth capital.
-
- Buyer
- SK Capital Partners
- Target
- Apotex Health Corp.
- Seller
- Sherman estate
- Industry
- Pharmaceuticals
- Location
- Canada
- Type
- Recapitalization
SK Capital Partners acquired control of Apotex from the Sherman estate in 2023, then reoriented the business with cost cuts, geographic focus, and portfolio acquisitions (including biosimilars and specialty drugs). Over the following three years, SK Capital and the Sherman family completed a debt-heavy leveraged buyout and extracted roughly $2 billion via dividends and share repurchases, culminating in Apotex’s IPO in June 2026.
-
- Buyer
- Raven Capital, Hudson Cove Capital Management
- Target
- Elevate Credit, Inc.
- Industry
- Financial Services
- Location
- United States
- Type
- Recapitalization
Raven Capital arranged a $655 million refinancing for Elevate Credit, an online lender serving non-prime consumers in the United States. Hudson Cove Capital Management also participated in the financing, which provides Elevate capital to expand credit access and invest in its platform.
-
- Buyer
- Greystar Infrastructure, StepStone Group, M|C Partners, Other global institutional capital partners
- Target
- Zentro Internet
- Industry
- Telecommunications
- Location
- United States
- Type
- Recapitalization
Greystar Infrastructure announced an equity recapitalization of Zentro Internet, the largest private multifamily-focused internet service provider in the United States. The investment, with participation from StepStone Group and other institutional partners, is intended to strengthen Zentro’s balance sheet and fund accelerated national and geographic expansion while maintaining Zentro’s local service quality. M|C Partners will maintain a strategic position in Zentro’s ownership.
-
June 8, 2026
- Buyer
- Benford Capital Partners
- Target
- CGRS, Inc.
- Seller
- Founder and CEO Eric Hick
- Industry
- Environmental Services
- Location
- Colorado, United States
- Type
- Recapitalization
Benford Capital Partners recapitalized CGRS, Inc., a Fort Collins, Colorado-based testing, inspection, certification and compliance (TICC) provider serving regulated environmental end markets across the Western United States. The transaction is done in partnership with Founder and CEO Eric Hick, who retains an ownership interest, and Benford plans to expand geographically and pursue add-on acquisitions of complementary environmental compliance and monitoring businesses.
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