THE CARLYLE GROUP takes majority stake in MEOPTA-OPTIKA

KKR, through its Global Impact Fund II, has acquired a majority stake in CoolIT Systems, with Mubadala Investment Company joining as a significant co-investor. While the specific financial terms of the 2023 entry were not publicly disclosed at the time, later reports indicated a valuation in the region of $270 million. Steve Walton, CEO of CoolIT, and the existing management team remained in place to lead the company’s expansion. The strategic rationale for the acquisition is to scale CoolIT’s best-in-class liquid cooling technology to meet the exploding demand for energy-efficient data centers driven by AI

In a "sponsor-to-sponsor" transaction, LBO France sells its majority stake in Passman to Siparex ETI. Interestingly, this marks a "return" for Siparex, which was already a shareholder of Passman between 2010 and 2019 before selling to LBO France. Andera Partners (Acto), present since 2014, reinvests alongside the founders. This new LBO aims to support the group's international growth and the deployment of its new energy efficiency solution, "Pass Energy".

The successful acquisition of Peak Sensors by SDI Group signals a definitive tactical expansion of the group's presence within the industrial thermal monitoring market. This transaction facilitates the integration of Peak Sensors’ specialized high-temperature hardware into SDI Group’s broader Sensors & Controls division, creating a more diversified portfolio of industrial sensing solutions. The strategic rationale for the move centers on the industrial synergy between Peak Sensors’ expertise in custom thermocouple engineering and SDI Group’s established international distribution network and financial resources

Nordson Corporation has finalized the acquisition of CyberOptics Corporation, an operation designed to fundamentally strengthen the group's Advanced Technology Solutions segment. The strategic rationale for this transaction centers on a "technology-differentiation" play, merging the target's industry-leading 3D optical sensing and wireless measurement sensors with Nordson's existing global sales and service infrastructure. This fusion effectively creates a specialized powerhouse in the semiconductor metrology arena, providing the group with the necessary technical operational depth to address the increasing complexity of wafer fabrication and electronic packaging

Spectris plc has finalized the acquisition of Dytran Instruments, an operation designed to fundamentally strengthen the group’s HBK business unit. The strategic rationale for this transaction centers on a "technology-reinforcement" play, merging the target's industry-leading piezo-electric and MEMS-based sensor technology with the group’s vast global commercial and service infrastructure. This fusion effectively creates a specialized powerhouse in the dynamic sensing arena, providing the organization with the high-precision hardware required to address the increasing complexity of aerospace and defense testing in North America

Tikehau Ace Capital, in partnership with Bpifrance and Société Générale Capital Partenaires, entered into exclusive negotiations with LBO France to acquire 100% of the capital of Crouzet. This operation marks a new stage in the development of the industrial player, following a period under LBO France characterized by the integration of the Garos activity and a rationalization of the industrial tool. The transaction is structured as a secondary LBO, with the acquisition debt provided by Barings via a unitranche facility

SECO S.p.A. has executed a definitive agreement to acquire the entire share capital of Garz & Fricke Holding GmbH from Afinum and minority shareholders. The transaction is structured with a total consideration funded through a mix of new medium-long term debt facilities, cash on balance, and newly issued equity subject to staggered lock-up periods. From a strategic perspective, this combination represents a highly synergistic platform investment designed to establish the largest listed pan-European champion in the edge computing industry

MKS Instruments has finalized the acquisition of Photon Control, a strategic move that fundamentally bolsters the group's "Surround the Chamber®" industrial strategy. The strategic rationale for this transaction centers on the integration of the target's high-precision optical temperature sensors into the group's broader process control portfolio. This fusion effectively creates a more comprehensive technology stack for key semiconductor customers, specifically addressing the critical needs of etch and deposition applications where traditional electronic sensing is insufficient

Quilvest Capital Partners acquired a majority stake in Solem from MBO & Co and Altur Investissement. This "LBO ter" allowed the CEO to increase his stake in the company and secure a long-term partner for the next growth phase. The strategic rationale focuses on expanding the product lines across the three core verticals and increasing recurring service revenue through software integration. The transaction was supported by a bank leverage of less than 4x EBITDA, providing the group with significant "dry powder" for targeted external growth (M&A)

Vishay Precision Group has finalized the acquisition of Diversified Technical Systems (DTS) in an all-cash transaction. The strategic rationale for this move centers on a "systems integration" play, merging the target's technical operational depth in miniaturized data recorders with the group's market-leading expertise in foil strain gages. This fusion effectively creates a unified platform capable of offering end-to-end data acquisition solutions for critical safety testing, moving the organization beyond component manufacturing into high-value systems engineering