Good morning dealmakers, thank goodness it’s Friday. It’s Obey Martin Manayiti here with the newsletter this morning. We’ll start with the news that Warburg Pincus and TA Associates are exiting a payments company for $1.86 billion. We will also look at deal news that Peloton Equity is leading an investment in an AI-enabled technology services provider to hospitals and medical groups. Up next, we’ve got some waste management talk from JF Lehman & Company. We are rounding out the week with a look at five with deals PE firms betting on architecture, engineering and construction. Payments Warburg Pincus announced yesterday that it has agreed to sell Procare Solutions, a Denver-based provider of childcare center management software and payments processing, to Roper Technologies for $1.86 billion. TA Associates has also sold its minority interest in Procare as part of the transaction, which is expected to close in the first quarter. Read all about the deal in the premium version of the Wire. Stay tuned: Next week, we’ll have a Deep Dive on the exit, featuring Procare’s growth story, including a look back at the challenges the company faced during the pandemic. AI-enabled Peloton Equity has led an investment in OnPoint Healthcare Partners, a Texas-based AI-enabled technology services provider to hospitals and medical groups. Fort Maitland Capital is also participating in the investment. Premium subscribers have access to more on this deal. Waste treatment JF Lehman & Company, a New York-based lower mid-market sponsor, sees add-on acquisition potential in landfill sites and wastewater treatment facilities alike for its latest holding, Heritage-Crystal Clean Inc, writes my colleague Michael Schoeck. Following its first add-on deal this month for hazardous waste landfill operator Envirosafe in northern Ohio, Crystal Clean is chasing asset owners holding Part B permits for waste facilities to collect and process various waste streams, JFLCO partner Glenn Shor told Michael. For details on the deal please upgrade to the premium version of the Wire. Construction Shifting demographics, government funding, climate change and the need to revamp aging infrastructure in the US are some of the factors driving private equity firms into architecture, engineering and construction (AEC) investments, Jeff Koonce, a partner at Bernhard Capital, told me. Proving his point, I rounded up five recent AEC deals, including three announced already in 2024. Find out which PE firms are investing in this sector, including insights from Chartwell, by upgrading to the premium version of the Wire. That’s it for today. MK Flynn will be back with more on Monday. Have a nice weekend, Obey Read the full wire commentary on PE Hub ... | 