Rafael Canton

One Equity's exit from Armis and Hg's take-private of OneStream are deals highlighted in today's Wire.

Big deals from 2025 include Turn/River Capital’s acquisition of SolarWinds and Thoma Bravo agreeing to take Dayforce private.

Permira and Warburg Pincus-led investor group agrees to acquire Clearwater Analytics; an interview with Mario Masrieh, managing director at Trivest Partners, about the firm’s dealmaking in 2025 and how AI is impacting it; insights from Houlihan Lokey’s Q3 snacking market update.

Also featured is how AI expansion-stage companies are driving exits in the US in 2025.

Also, the first private equity deal in the college sports subsector from Otro Capital which is investing in Utah Brands & Entertainment.

Denny's, Shipley Do-Nuts, and Smoothie King are among the PE-backed restaurant transactions announced in 2025.

Porter also discusses how there will be some very large software assets reaching the IPO market in 2026.

'There is a large backlog of private equity-owned software companies that have the size and performance to enter the public market,' says Porter.

In addition, we also look at some food and beverage deals, including a deep dive of Durational Capital's investment in Garage Beer.

Avenue Sports' list of investments include the Baltimore Orioles, the New York Mavericks and PGA Tour Enterprises.