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Sale processes pick up in May; EQT’s Alex Darden discusses Seven Seas deal

Good morning Hubsters. Michael Schoeck back with you from the New York newsroom.

This week marks my colleague Obey Martin Manayiti’s return to the New York newsroom from parental leave. Today we’ll highlight his deep dive story with EQT’s Alex Darden about the firm’s latest water treatment services deal.

Next we’ll highlight PE Hub’s weekly companies for sale update, which is decidedly upbeat as May comes to a close, with close to a dozen new companies coming to market.

And last up is a deal announcement on Align Capital Partners forming a new commercial landscaping company.

But first let’s take a look at what’s driving water treatment investments.

Critical water preservation

“Around 50 percent of the US population lives in areas already experiencing water scarcity,” Alex Darden, head of EQT’s infrastructure advisory team Americas, told PE Hub. “This challenge is expected to be exacerbated as population growth and industrial development place additional strain on limited water resources. Water is critical for our survival.”

Learn more about how water shortages are driving investments into the treatment services and infrastructure market by upgrading to the premium Wire.

Buoyant companies for sale

This month I’m seeing an uptick in companies coming to market, based on conversations with confidential sources. So far in 2025, I’ve been briefed on about 127 companies expected to be for sale with PE firms as potential buyers. 

In the latest deal involving companies PE Hub has followed in sale processes, earlier this week in a deal exclusive Littlejohn & Co announced an agreement to acquire railroad infrastructure service company RailPros from Court Square.

Upgrade to the premium version of the Wire for more companies for sale scoops.

Got tips on a company coming to market? Shoot me a note at Michael.S@pei.group.

Commercial landscaping

PE firms investing in lawn care firms has become a novel post-pandemic trend in the private equity landscape. Though some limit it as a seasonal strategy relegated to warmer months, it can also be viewed as recession-resistant, making it attractive to dealmakers.

Earlier today, Align Capital Partners completed a growth investment in Strata Landscape Services, a commercial landscape service provider headquartered in Whittier, California. 

Sign up for the premium edition of the Wire to read up on more landscaping deals.

That’s a wrap for me. Keep an eye out for the Europe edition of the Wire tomorrow from Irien Joseph and the US edition from John R Fischer.

Cheers,

Michael

Read the full wire commentary on PE Hub ...

Also of note (may require subscriptions)

India’s Motilal Oswal Alternates eyes $600m first close for fifth flagship: With its latest flagship launched in late April, Motilal Oswal Alternates plans to hold a first close next month, Private Equity International has learned.

Maryland previews new allocation strategy following CIO departure: The pension fund will aim to increase its exposure to private and public equity assets while eliminating its hedge fund portfolio. (Buyouts)

Flexstone Partners mulls running secondaries process in future on pan-Asia fund of funds: Flexstone Partners Asia Selection III is now fully subscribed for by the firm’s majority shareholder, Natixis Investment Managers, chief executive Eric Deram tells Secondaries Investor.

Inside Dexus’ dispute with Melbourne Airport co-shareholders: Documents submitted to the Supreme Court of NSW lift the lid on Dexus’ dispute with its fellow shareholders in Melbourne Airport, pitting it against some of Australia’s largest superfunds and the country’s sovereign wealth fund. (Infrastructure Investor)

Sidley adds PE funds partner: The law firm has hired a Kirkland & Ellis partner to bolster its fund formation capabilities. (Private Funds CFO)

Can regenerative farming escape the ESG backlash? Investment managers are confident that regenerative strategies will continue to enjoy tailwinds. (Agri Investor)

Deals

They said it

“Around 50 percent of the US population lives in areas already experiencing water scarcity. This challenge is expected to be exacerbated as population growth and industrial development place additional strain on limited water resources.”

— Alex Darden, partner and head of EQT’s infrastructure advisory team Americas, on water scarcity trends which supported the firm’s investment in Seven Seas Water Group

Today's letter was prepared by Michael Schoeck

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