Tracked deals
36
36 tracked deals across 2019-2025.
Private Equity Firm
Business Services
PAI Partners
Paris, France
PAI Partners is a pre-eminent private equity firm investing in market-leading companies across the globe, emphasizing longevity in core sectors and value creation supported by local and international networks.
- Focus Areas
- Private equity investments, Buyouts, Value creation
- Website
- paipartners.com
Recent pace
1
1 tracked deal announced in the last 12 months.
Deal mix
Buyout
28 buyout · 3 addon · 3 divestiture
PAI Partners Acquisition Volume by Year
Last 7 years
Supporting Data
Recent Transactions
Showing the 12 most recent of 36 tracked deals for PAI Partners.
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December 8, 2025
- Buyer
- PAI Partners
- Target
- Innovad Group
- Seller
- IK Partners, IK IX Fund
- Industry
- Healthcare Services
- Location
- Belgium
- Type
- Buyout
PAI Partners has entered into a definitive agreement to acquire Innovad Group, a global specialty animal feed additives provider, from IK Partners. The deal is expected to close in the first quarter of 2026, and Innovad management led by Ben Letor will reinvest as part of the transaction.
-
September 10, 2025
- Buyer
- PAI Partners
- Target
- Orion
- Seller
- Xenon Private Equity
- Industry
- Environmental Services
- Location
- Italy
- Type
- Buyout
PAI Partners has agreed to acquire Orion, an Italian provider of environmental monitoring services, from Xenon Private Equity. The deal is expected to close in the fourth quarter of 2025, subject to regulatory approvals, with PAI becoming the majority shareholder alongside Orion’s management team.
-
March 24, 2025
- Buyer
- PAI Partners, PAI Mid-Market Fund (PAI MMF)
- Target
- Nuzoa
- Seller
- Abac Capital
- Industry
- Veterinary
- Location
- Community of Madrid, Spain
- Type
- Buyout
PAI Partners, via its PAI Mid-Market Fund, has agreed to acquire Nuzoa, the leading integrated animal health products and services distributor in Iberia, from Abac Capital. PAI plans to accelerate Nuzoa's growth through further consolidation in the fragmented Iberian market, expansion into other European markets and by developing additional vet-focused services such as digital solutions and laboratory diagnostics.
-
January 31, 2025
- Buyer
- PAI Partners, Abu Dhabi Investment Authority (ADIA)
- Target
- Alvest
- Seller
- CDPQ, Sagard
- Industry
- Aerospace & Defense
- Location
- France
- Type
- Buyout
PAI Partners, together with a wholly owned subsidiary of the Abu Dhabi Investment Authority (ADIA), has acquired a majority stake in Alvest, the global leader in airport Ground Support Equipment (GSE). Ardian retains a minority stake alongside the company's founders and management; the investment will support Alvest's expansion, accelerate the transition to electric GSE and grow its product and service offering worldwide.
-
July 25, 2024
- Buyer
- PAI Partners (PAI Mid-Market Fund)
- Target
- Nutripure
- Seller
- Ardian
- Industry
- Consumer Products
- Location
- Occitanie, France
- Type
- Buyout
PAI Partners, through its PAI Mid-Market Fund, has agreed to acquire a majority, controlling stake in Nutripure from Ardian. The investment will support Nutripure’s product development, community growth and European expansion while founders and Bpifrance remain shareholders.
-
May 2, 2024
- Buyer
- PAI Partners, Fresenius SE & Co. KGaA
- Target
- VAMED's European rehabilitation business
- Seller
- Fresenius SE & Co. KGaA
- Industry
- Healthcare Services
- Location
- Vienna, Austria
- Type
- Divestiture
PAI Partners will acquire a 67% stake in VAMED's pan‑European rehabilitation business from Fresenius, with Fresenius retaining a 33% stake. The carved‑out business operates 67 clinics across multiple European countries, employs around 10,000 staff and will operate as a standalone rehabilitation platform focused on operational excellence and further investment.
-
- Buyer
- PAI Partners, Ardian
- Target
- Audiotonix
- Industry
- Industrial Services
- Location
- United Kingdom
- Type
- Buyout
PAI Partners and Ardian have agreed a deal under which PAI will acquire a majority stake in Audiotonix, becoming the company’s largest shareholder. Ardian will retain a minority stake alongside management.
-
March 18, 2024
- Buyer
- PAI Partners, PAI Mid-Market Fund (PAI MMF)
- Target
- Beautynova
- Seller
- Bluegem Capital Partners, Syndicate of Bluegem co-investors
- Industry
- Consumer Products
- Location
- Lombardy, Italy
- Type
- Buyout
PAI Partners has agreed to acquire a majority stake in Beautynova, the Milan‑headquartered professional haircare platform, from Bluegem Capital Partners. Bluegem will retain a significant minority holding alongside a syndicate of co‑investors; PAI will support Beautynova's international expansion and brand development across the US and Europe.
-
August 24, 2023
- Buyer
- PAI Partners
- Target
- Alphia, Inc.
- Seller
- J.H. Whitney Capital Partners
- Industry
- Food & Beverage
- Location
- Colorado, United States
- Type
- Buyout
PAI Partners has agreed to acquire Alphia, Inc., a leading U.S. pet food co-manufacturer, from J.H. Whitney Capital Partners. Alphia, headquartered in Denver, operates six manufacturing facilities and provides milling, R&D, warehousing and logistics services; PAI intends to accelerate Alphia's North American growth organically and via acquisitions.
-
- Buyer
- PAI Partners
- Target
- Infra Group
- Industry
- Infrastructure
- Location
- Belgium
- Type
- Buyout
PAI Partners has agreed to acquire a majority stake in Infra Group, a Belgium-headquartered multi-disciplinary network infrastructure services provider. The investment will make PAI the largest shareholder alongside existing investors ICG, Andera Partners and the management team, and will support Infra Group's growth strategy to accelerate expansion organically and via complementary acquisitions.
-
- Buyer
- PAI Partners, Hg
- Target
- Azets Group
- Industry
- Accounting & Tax
- Location
- United Kingdom
- Type
- Recapitalization
PAI Partners has agreed to invest in Azets Group, taking an equal, co-controlling stake alongside existing investor Hg. The recapitalization will support Azets’ next phase of growth — accelerating organic expansion and strategic M&A across Europe — while enabling liquidity for existing investors; Azets operates ~7,600 professionals, serves ~93,000 clients and generates ≈£700m in revenue.
-
- Buyer
- PAI Partners
- Target
- ECF Group
- Seller
- Naxicap Partners
- Industry
- Logistics & Distribution
- Location
- Île-de-France, France
- Type
- Buyout
PAI Partners has made a binding offer to acquire a majority stake in ECF Group from French private equity firm Naxicap Partners, with Naxicap remaining a minority investor alongside management. ECF is an omnichannel B2B distributor of equipment, consumables and hygiene products for hospitality and care professionals, headquartered in Grigny, France (~1,750 employees, ~€760m revenue); PAI intends to accelerate growth organically and via acquisitions to consolidate the fragmented market.
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Acquisitions in Illinois
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