TPG and Blackstone are exploring the sale of the surgical division of recently acquired medtech company Hologic in a deal expected to fetch more than $4bn, according to the Financial Times. The process comes just months after the firms, alongside sovereign wealth funds Mubadala and GIC, completed the $18.3bn take-private of Hologic, one of last year’s largest leveraged buyouts. The disposal would help reduce acquisition debt and return capital to investors amid continued pressure on private equity firms to generate distributions, the report said. The unit, which manufactures gynaecological surgical equipment, is expected to attract interest from both sponsors and strategic buyers. The report also highlighted growing portfolio reshaping across healthcare, with several listed medtech companies reviewing non-core assets as healthcare M&A volumes rebound strongly this year.
PSG Equity has agreed a majority investment in Belgian corporate performance management software provider BrightAnalytics, backing the bootstrapped business’s next phase of European expansion. Founded in 2014, BrightAnalytics has grown organically to more than 1,300 customers across Belgium, the Netherlands, the Nordics and France, providing financial consolidation, reporting and FP&A software that integrates with more than 400 enterprise systems. Existing investors Smartfin and Coformaco will retain minority stakes alongside the founders. PSG said it will support further geographic expansion and investment in AI-enabled finance automation, while the company plans to broaden its software suite beyond reporting into financial close and planning tools, reflecting sustained investor appetite for vertical SaaS platforms targeting mid-market finance teams.
River Associates has acquired automotive aftermarket platform Horsepower Automotive Group from Huron Capital, backing management’s plans to continue expanding through acquisitions. Huron originally created the platform in 2015 through its purchase of Drake Automotive before completing nine add-on acquisitions to build a specialist off-road and overlanding business. During its ownership the company consolidated operations into a new Arizona manufacturing facility and broadened its portfolio to include brands including DV8 Off-Road, Addictive Desert Designs, C4 Fabrication, Rago Fabrication and Flatline Van Co. River funded the acquisition through its eighth fund and said it will continue pursuing bolt-on acquisitions.
Houston-based lower mid-market investor Sallyport has completed its third platform investment from Sallyport Partners Fund by backing Louisiana pipeline erosion remediation specialist Submar. The company provides engineered solutions protecting onshore and offshore pipelines for energy and infrastructure operators through long-standing customer relationships. Sallyport said ageing energy infrastructure, tighter regulatory oversight and growing US natural gas demand are creating favourable long-term market conditions for the business. Existing president Joseph Fournet and the management team will remain in place following the transaction. Sallyport said the investment builds on its previous experience in the midstream energy sector, where it has previously invested in businesses including T.D. Williamson, Navitas and the Remote Operations Center.
Emerald Lake Capital Management has invested in WECS Electric Supply and Electrical Cable Specialists, supporting their merger into a specialist distribution platform serving power and critical infrastructure markets. The combined business, which will operate under the WECS brand, supplies cable, electrical components and integrated project services to sectors including renewable energy, data centres, utilities and industrial infrastructure. Emerald Lake plans to invest in inventory, technology, facilities and talent while pursuing acquisitions to broaden geographic coverage and capabilities. ECS chief executive Jerry James will lead the combined company, while WECS chief executive Theresa Eaton becomes chief strategy officer.
Blue Owl Capital and Moor Park Capital Partners have completed the acquisition of a portfolio of 12 acute-care hospitals leased to UK private hospital operator Spire Healthcare, expanding Blue Owl’s European net lease strategy. The transaction strengthens Blue Owl’s healthcare real estate platform, adding long-term leased assets backed by a leading private hospital operator while increasing the firm’s exposure to defensive infrastructure. The deal was financed through a secured term loan arranged by Standard Chartered, Natixis and Crédit Agricole CIB. Blue Owl said the acquisition supports its broader push into European healthcare real estate, an area benefiting from favourable demographic and supply-demand dynamics, and indicated it intends to pursue further investment opportunities across the sector alongside Moor Park.
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