PE Weekly: Tech-Enabled Business Services Remain in Focus
With dealmaking expected to make a strong showing this year, tech-enabled business services continue to be a PE favorite
M&A dealmaking is expected to make a strong showing in 2025 after a few years of less-than-stellar performance. Yet a sector that remained resilient throughout turbulent times, tech-enabled business services, seems to still be a favorite target for private equity acquirers. This week’s roundup finds deals spanning talent recruiting software, digital marketing, intellectual property management and more.
Platform Investments
Tritium Partners Leads $115M Investment in Loxo. Loxo, a talent intelligence platform and recruiting software provider, has announced a $115 million announcement led by private equity firm Tritium Partners. A press release said the investment will support Loxo’s expansion in the market and fuel development of its AI-powered recruiting platform.
San Francisco Equity Partners Backs Formula Corp. San Francisco Equity Partners (SFEP), a private equity firm focused on companies operating in the consumer value chain, has acquired a majority stake in Formula Corp. The company formulates and manufactures cleaning products.
Heitman Acquires Majority Stake in Self-Storage Operator. Global real estate investment management firm Heitman announced its acquisition of the third-largest self-storage operator in Sweden, Servistore. According to Heitman’s Managing Director and Head of European Private Equity Tony Smedley, the firm has been investing in self-storage assets for nearly three decades.
Nordic Capital Takes Controlling Stake in Anaqua. Anaqua, which provides intellectual property management solutions, has been acquired by Nordic Capital, according to a recent press release. The firm acquired a controlling stake in the business from Astorg.
Agellus Capital Forms Fire Safety Platform. Agellus Capital has formed a new national fire, life and safety acquisition platform through the acquisitions and combinations of several industry players. The firm has combined FirePro Tech, Chase Fire and AAA Fire Protection Services.
Add-Ons
Clearview’s UpSwell Acquires Taradel. Clearview Capital announced this week its portfolio company UpSwell, a marketing solution provider, has acquired Taradel. The company provides direct mail and digital marketing services, according to an announcement provided to Middle Market Growth.
Eagle Merchant’s AYA Acquires Tribeca MedSpa. Eagle Merchant Partners-backed AYA Medical Spa has announced its acquisition of Tribeca MedSpa. The investment expands AYA’s footprint into New York.
Strategics
Promise Acquires AI Film School Curious Refuge. Promise, a film and television studio built for generative AI, announced its acquisition of Curious Refuge, an AI film school. The investment, a press release said, fuels Promise’s mission to drive innovation in generative AI within the film and TV sector.
Exits
Edison Partners Exits RapidDeploy to Motorola Solutions. Edison Partners, a growth equity firm, announced the sale of its portfolio company RapidDeploy, a real-time intelligence provider that enhances public safety agencies’ emergency response capabilities. The company was acquired by Motorola Solutions, a provider of cloud-native 911 mapping for public safety agencies.
Insights
Freshfields Launches Operations in Boston. Law firm Freshfields announced it is opening an office in Boston, with Boston-based Private Capital M&A partner Matthew Goulding joining as managing partner. The office opening is Freshfields’ fourth location in the U.S.
Alvarez & Marsal Inc.’s LSS Forms Executive Search Firm. LSS Strategic Partners, an Alvarez & Marsal Inc. company, has announced the launch of ECB STAR Group, an executive search firm. The company focuses on executive, board and C-suite (ECB) appointments and services private equity, law firms and corporates.
Middle Market Growth is produced by the Association for Corporate Growth. To learn more about the organization and how to become a member, visit www.acg.org.
