Today's Private Equity Pulse
QXO to acquire TopBuild in $17 billion deal
QXO announced a cash‑and‑debt transaction to buy building‑products distributor TopBuild for about $17 billion. The offer values TopBuild at $505 per share, a 23% premium, and will be funded with up to 45% cash and the remainder in stock. The merger adds more than 1,200 locations and is projected to generate over $30 billion in annual revenue.
Judge Halts Nexstar's $6.2 Billion Bid for Tegna Over Antitrust Concerns
A federal judge has blocked Nexstar Media Group's $6.2 billion attempt to acquire Tegna Inc., citing antitrust concerns that the deal could raise costs, limit viewer choice and damage local journalism. The ruling puts a major broadcast merger on hold and signals tighter scrutiny for future media consolidations.
Microsoft Reportedly Acquires Fintech AI Startup Fintool to Boost Microsoft 365
Microsoft has reportedly acquired fintech AI startup Fintool, aiming to embed its autonomous research tools into Microsoft 365. The deal, not officially announced and with undisclosed terms, signals a deeper push into AI‑driven productivity for finance professionals.
Dawgen Global Leads People‑First Integration of Caribbean Bank Merger
Two comparable Caribbean financial services firms completed a merger and hired Dawgen Global to execute a people‑first integration. Using the proprietary PEOPLE360°™ framework, the consultancy will manage ten workstreams over a twelve‑month horizon to align cultures, roles, and compensation. The...
GrubMarket Acquires Century-Old Schoenmann Produce to Boost Gulf Coast Reach and AI Supply Chain
GrubMarket announced the acquisition of Houston‑based Schoenmann Produce, a distributor with more than a century in the Gulf Coast market. The deal adds a 90,000‑square‑foot cold‑storage hub and gives Schoenmann access to GrubMarket’s AI‑driven software suite, positioning both firms for...
Industrial Thermal Services Buys NDE Inc., Boosting Gulf Coast NDT and Heat‑Treatment Services
Industrial Thermal Services (ITS) announced the purchase of NDE Incorporated, merging its heat‑treatment and specialty mechanical operations with NDE’s nondestructive evaluation (NDT) expertise across the Gulf Coast. The deal, ITS’s second bolt‑on since partnering with Amberjack Capital Partners, broadens its...
Eli Lilly to Spend $6.3 B on Centessa Buy, with up to $1.5 B in Milestone Payouts
Eli Lilly agreed to acquire UK‑based Centessa Pharmaceuticals for an upfront $6.3 billion, plus a contingent value right that could add $1.5 billion if the lead sleep‑wake disorder drug meets regulatory milestones. The deal, priced at a 40% premium, follows Lilly’s cash‑rich...
PPG Finalizes $65 Million Cash Deal to Acquire Ozark Materials
PPG announced the completion of an all‑cash $65 million acquisition of Ozark Materials LLC from Ingevity Corp. The deal adds a 130‑employee, U.S.‑Canada pavement‑marking provider to PPG’s Traffic Solutions portfolio, bolstering its market reach and product offering.
PwC’s Jason Morris Says Deal Market Fails to Convert Intent Into Closed Transactions
PwC’s global M&A leader Jason Morris warned that the current deal market is battling to turn intent into completion, with many announced transactions stalling. The slowdown threatens investment‑banking fee revenue and could reshape deal‑making strategies.
Axtria Acquires Conexus Solutions to Add AI‑Powered CRM for Life‑Sciences Companies
Axtria announced the acquisition of Conexus Solutions, a Veeva and Salesforce‑focused CRM transformation partner, to embed end‑to‑end CRM capabilities into its AI‑first data analytics suite for life‑sciences firms. While the financial terms were not disclosed, the deal is positioned as...
J.P. Morgan Holds Blackstone at $142 Target Amid Valuation Concerns
J.P. Morgan analyst Ken Worthington maintained a Hold rating on Blackstone Group, setting a $142 price target. The rating reflects concerns over the firm's valuation relative to its recent earnings growth, even as quarterly revenue rose to $4.36 billion.
Teradyne Acquires TestInsight to Speed AI and Data‑Center Chip Testing
Teradyne has bought semiconductor software firm TestInsight to embed pre‑silicon validation, pattern conversion and virtual‑test capabilities into its automated test equipment. The move aims to cut debugging time and accelerate AI and data‑center chip roll‑outs, a priority for CIOs managing...
Exclusive: PE-Backed Manchester Firm Lays Out Major Growth Plans
Manchester‑based BBS Law, now backed by Aliter Capital, plans to triple its revenue to $63‑$76 million within two years through a series of acquisitions. The firm grew from a $3.8 million turnover in 2020 to $21.6 million in 2024, driven by both organic...
H.I.G. Capital Acquires Inventus Power to Grow Global Battery Portfolio
H.I.G. Capital announced that an affiliate has completed the acquisition of Inventus Power, a global lithium‑ion battery maker. The deal adds manufacturing sites in the U.S., Mexico, China and Brazil to H.I.G.’s $74 bn alternative‑investment platform, underscoring private‑equity appetite for clean‑energy...
Airwallex Rejects $1.2B Stripe Offer, Turns Rival in Global Payments
Airwallex declined Stripe's $1.2 billion purchase proposal and is now targeting the same markets, reporting $1.3 billion in annualized revenue, 85% YoY growth, and $300 billion in transaction volume. The split highlights divergent leadership visions in fintech.
Credibility Over Capital: BHC’s Blueprint for Middle‑Market M&A
Great find. I'd add here the research where I explore Bowles Hollowell Conner & Co., the quiet Charlotte-based advisory firm that shaped how lower middle market M&A gets done. Before private equity was institutionalized asset class, BHC figured out how to...
Brad Jacobs’ QXO to Acquire TopBuild for $17bn
Brad Jacobs’ QXO announced a cash‑and‑debt transaction to acquire TopBuild, a leading building‑products distributor, for approximately $17 billion. The deal adds more than 1,200 TopBuild locations to QXO’s existing portfolio, which already includes Beacon Roofing Supply and Kodiak Building Partners. Post‑closing,...
Miles Teller Cashes in on $325 M Sale of The Long Drink Company to White Claw Maker
Actor‑investor Miles Teller, a minority shareholder in The Long Drink Company, will profit from the brand’s $325 million sale to Mark Anthony Group, the parent of White Claw. The deal underscores growing private‑equity interest in ready‑to‑drink alcoholic beverages.
Wall Street Zen Cuts Apollo Global Management to Sell Amid Funding Concerns
Wall Street Zen lowered Apollo Global Management (NYSE:APO) from Hold to Sell, citing rising fundraising challenges and a slowdown in deal flow. The downgrade comes as Apollo posted $9.86 billion in quarterly revenue and a $0.51 dividend, while other analysts remain...
Oriental Securities to Acquire Shanghai Securities in Share‑Cash Deal, Targeting $83 Bn Assets
Oriental Securities announced a pending share‑cash transaction to acquire 100% of Shanghai Securities, a move that could lift the combined firm's assets above $83 bn and push it into China’s top‑ten brokerages. The deal, still subject to regulatory clearance, is framed...
Delaware Court Rejects “Public Offering” Exclusion in De-SPAC Coverage Dispute
The Delaware Superior Court ruled that the “public offering” exclusion in View’s D&O policy does not bar coverage for claims arising from its de‑SPAC transaction, because the shares were issued by the SPAC parent, not View itself. The court also...
China’s Orient Securities Deal to Create $86 Billion Brokerage
Orient Securities announced it will acquire Shanghai Securities, creating a brokerage with roughly $86 billion in assets. The combined entity will hold about 583 billion yuan (~$82 billion) in assets as of end‑2025. The merger follows Beijing’s push, spurred by President Xi’s 2023...
Black Knight Football Club Moves to Acquire Premiership Rugby's Exeter Chiefs
Black Knight Football Club, the ownership group behind Bournemouth FC, announced a pending takeover of Premiership Rugby side Exeter Chiefs. The deal, awaiting a member vote in May, adds the consortium—led by Bill Foley and featuring actor Michael B. Jordan—to...
Ripple Completes $750 Million Buyback, Boosts Valuation to $50 Billion Amid Global Expansion
Ripple announced a $750 million share buyback that lifted its market value to $50 billion, a 25% jump from months earlier. The company is simultaneously deploying nearly $3 billion this year for acquisitions and new partnerships, signaling a rapid push into global digital‑payments...
Family Offices Boost Secondary Allocations, Yet Access Remains Limited
Family Offices and secondaries 28% of family offices plan to increase their secondary allocations Global secondary transactions topped $240B last year But having money is no guarantee of access to secondaries
Brad Jacobs' QXO to Buy TopBuild for $17B
AND THERE IT IS Billionaire Brad Jacobs’ rapidly expanding building materials juggernaut QXO to acquire TopBuild for $17 billion My latest for ResiClub: https://t.co/50zdmgx9X9
CIC, INA and SOFAZ Team up for China–Asean Investments
China Investment Corporation, Indonesia Investment Authority and Azerbaijan’s State Oil Fund have launched the Galaxy Orientis China‑ASEAN Investment Platform (CAIP), a sovereign‑led private‑equity vehicle. The platform’s Galaxy Orientis fund has already raised $520 million toward its $1 billion target. CAIP will pursue...
MWM Group Unveils Aggressive Acquisition Roadmap to Consolidate Irish Wealth‑Management Market
MyWealthManagement (MWM) announced a multi‑deal acquisition strategy that includes a merger with Financial Innovations and the purchase of Inspire Financial's book of business. The moves aim to broaden MWM's advisory capabilities and increase its client base amid growing consolidation in...
APi Group to Acquire Wtech Fire Group, Adding $175 M Fire‑Protection Business in Europe
APi Group Corp. (NYSE: APG) signed a definitive agreement to buy Wtech Fire Group, a fire‑protection specialist operating across Europe. The deal, slated to close in the second half of 2026, will bring roughly $175 million of annual revenue to APi’s...
Clearlake Capital Leads $3.9 B Bid for Padres, Setting New Sports‑Franchise Valuation Benchmark
A consortium headed by Clearlake Capital and Kwanza Jones is poised to acquire the San Diego Padres for $3.9 billion, the highest price ever reported for a Major League Baseball team. The deal, reported by the Wall Street Journal, could reset...
Cloudcomputing Acquires Innovate IT, Quadruples UK/US Delivery Capacity
Cloudcomputing, a Portuguese cyber‑security specialist, announced on April 13, 2026 that it has acquired UK‑based Innovate IT Ltd. The deal, whose price was not disclosed, is said to increase the combined firm’s delivery capacity in the United Kingdom and United...
Tech Giants Accelerate AI Startup Acquisitions to Gain Edge
Large technology firms are stepping up AI startup acquisitions, using deals to capture cutting‑edge models, data and talent. The wave reflects a strategic shift from in‑house development to buying ready‑made capabilities, as companies race to stay ahead in a fast‑moving...
6G Podcast - Amazon's $11B Acquisition, Verizon & FIFA, AST SpaceMobile Launch, Ericsson's Struggles
In this episode the hosts discuss Amazon’s $11 billion acquisition of Globalstar, exploring how the deal will expand Amazon’s Leo satellite service and its implications for Apple’s emergency‑text offering and future D2D mobile connectivity. They then examine Ericsson’s weak Q1 earnings,...
Readcrest Capital Exits UK Care‑home Market with $56 Million Sale
Readcrest Capital AG announced the sale of its UK care‑home business for an initial £44 million (≈$56 million). Proceeds will be used to cut debt at its UK subsidiary, leaving Grosvenor Health & Social Care as the sole remaining asset, with EBITDA...
Harvest Group Acquires Cartograph, Doubling Its Amazon Business
Harvest Group announced the acquisition of Cartograph, its largest deal to date, to double the size of its Amazon‑focused business. The move adds a specialist Amazon agency to Harvest’s integrated commerce platform, enhancing end‑to‑end retail, media and supply‑chain services for...
Blackstone Invests $17 Million in TextQL to Power Instant AI Answers for Executives
Blackstone’s early‑stage arm, Innovations Investments, led a $17 million strategic round in TextQL, a startup that uses AI agents to turn plain‑language questions into instant data insights. CEO Ethan Ding says the funding will accelerate entry into low‑liquidity markets like finance...
Wasserman Sale Draws Top Suitors After Epstein Emails
New, with @LaurenSHirsch: Suitors including UTA, Permira, Patrick Whitesell and a bidding group including Reddit co-founder Alexis Ohanian + Avail co-founder Chris Giliberti are circling Wasserman, which went up for sale amid the Epstein emails: https://t.co/7vC0VDGkvn
Bad Company
In this episode of the Ralph Nader Radio Hour, journalist Megan Greenwell discusses her book *Bad Company*, exposing how private equity firms—like KKR, Bain Capital, and Blackstone—have taken control of a wide range of essential services from hospitals to utilities....
EQT's $11bn Intertek Buyout Rebuffed as UK Tester Opts for Demerger
Swedish private‑equity group EQT AB offered to acquire Intertek for £51.5 per share, a 36.6% premium, valuing the UK testing firm at about £7.93 bn ($10.74 bn). Intertek rejected the proposal, citing undervaluation, and announced plans to separate its two businesses while...
Bouygues, Free‑Iliad and Orange in Exclusive Talks to Buy SFR for €20.35bn
Bouygues Telecom, the Free‑Iliad group and Orange have submitted a €20.35 billion ($23.97 billion) offer for Altice France’s SFR and are now in an exclusive negotiation window until May 15. The consortium would split SFR’s assets 42‑31‑27 percent, excluding several fibre and overseas...
Diginex to Acquire Resulticks in $1.5 B All‑Share Deal, Targeting $280 M AI Revenue by 2027
Diginex Limited signed a definitive agreement to acquire Resulticks Global Companies in a $1.5 billion all‑share transaction. The deal, expected to close within 30‑45 days, positions Diginex to combine sustainability data with AI‑powered customer intelligence and target $280 million in revenue by...
Operational Inflection + GLP-1 Winner
A low‑priced consumer business currently in a turnaround is hitting an operational inflection point, with GLP‑1 drug adoption expected to accelerate growth. The company trades at roughly 4.7 × EBITDA and holds net cash equal to about half its market capitalization, creating...
Badger Meter to Acquire UDlive for $100 Million, Expanding Smart‑Metering Platform
Badger Meter (BMI) disclosed a definitive agreement to purchase UK‑based UDlive for $100 million, aiming to integrate hardware‑enabled sewer‑monitoring software into its smart‑metering suite. The deal comes as the company reports a 9% drop in Q1 sales, underscoring a strategic push...
Exit Readiness: Why It Matters & How To Prepare Your Business
James Cowper Kreston emphasizes that exit readiness is a proactive strategy, not a last‑minute fix. By establishing clear financials, robust KPIs, solid governance and tax efficiency early, owners safeguard value and avoid forced sales. Early work on corporate structure, share‑scheme design and...
Havencrest Capital Invests in OFFOR Health, Adding to Healthcare Services Portfolio
Havencrest Capital has made a private‑equity investment in OFFOR Health, a healthcare‑services provider, as listed in a JD Supra deal tracker. The transaction, whose financial terms were not disclosed, signals the firm’s ongoing focus on expanding its health‑care portfolio.
White Claw Parent Mark Anthony Group Buys Celebrity‑backed Finnish Long Drink
Mark Anthony Group, the private equity firm behind White Claw, announced the acquisition of The Finnish Long Drink, a Finnish‑inspired ready‑to‑drink brand backed by Miles Teller, DJ Kygo and Rickie Fowler. The deal aims to broaden the group’s RTD portfolio amid...
Google's 6.1% SpaceX Stake Could Be Worth $122 Billion in $2 Trillion IPO
Alphabet's Google unit holds about 6.11% of SpaceX, a stake that Bloomberg values at roughly $122 billion on a projected $2 trillion IPO price. The potential listing, slated for June, could raise as much as $75 billion, making it one of the largest...
Fifth Third Posts 33% Revenue Rise, CFO Preston Details Comerica Financing
Fifth Third Bank posted a 33% jump in Q1 2026 revenue to $2.9 billion and adjusted earnings of $734 million, while CFO Bryan D. Preston explained how the bank is financing the $12 billion Comerica acquisition. The results highlight integration costs, strong loan...
Partial Payments Can Benefit Sellers in Deal Making
Why You Might Not Get Paid in Full When You Sell. And how that can actually work in your favor. https://t.co/1vSKngiMGR #SmallBusiness & Deal Making #SMB
'It's Just Scale': Local Mom-and-Pop Car Dealerships Are Growing or Dying Amid Industry Consolidation, Rise of Mega-Retailers
Family‑owned Sylvester Chevrolet in rural Pennsylvania was sold to New York‑based Matthews Auto Group, marking another deal in a wave of dealership consolidation. The top 150 U.S. dealers now account for 27% of new‑vehicle sales, up from 24.3% in 2021, while...
EQT Warns of Exit Risks for Alternative Energy Assets Held by PE
EQT AB warns that private‑equity firms are hitting a wall when trying to exit clean‑energy developers and operators, which have ballooned from 1‑2 GW to as much as 8 GW of assets. Traditional buyers can no longer absorb such scale, and IPOs...