June saw 30 PE-backed acquisitions across Europe, representing an 50% increase year-over-year with 10 acquisitions more in June 2025 than 2024.
Number of announced PE-backed acquisitions over the past 12 months*
- Number of PE-backed Acquisitions
Roll-Up Market Insights
In June, PE-backed acquisitions reached their second highest number in the last 12 months, presenting a 173% growth since May and a 50% increase year over-year.
With 13 acquisitions, the UK present the country with most PE-backed acquisitions.
In June, ClearCourse acquired Rezcontrol, presenting the group’s second acquisition in 2025.
Software, FinTech and Consulting are the most mentioned acquired industries.
This month’s case study: ClearCourse active acquirer in the software market
Founded in 2018, in London, UK, ClearCourse is a provider of industry-specific software and embedded payment solutions for SMEs and targeted enterprises.
Under private equity ownership from Aquiline Capital, ClearCourse had already added over 20 companies to its portfolio 3 years after its foundation.
- Vortex Companies Acquisitions
- ClearCourse Companies Acquisitions
ClearCourse’s most recent acquisition, publicized in June 2025, was the acquisitions of Rezcontrol.
Founded in 1986 in Bristol, United Kingdom, Rezcontrol is a cloud hotel management platform for reservations, front and back office, invoicing, and reporting.
PE drives long-term value creation in UK’s mid-market software space
ClearCourse most recent PE-backed acquisition demonstrating the consistent implementation of the buy & build strategy, particularly in the area of UK’s small to medium-sized software providers.
Case study:
Aquiline’s foundation of ClearCourse represented the starting point of an explicit buy & build strategy with the aim of acquiring and consolidating companies in the membership management and payments sector as a holding company:
- In 2018, ClearCourse was founded in London with the support of private equity investor Aquiline Capital. The strategy is focused on growth through acquisitions and the integration of software companies.
- In 2020, Acquisition of Adelante and E-Novations with the goal of establishing ClearCourse as a provider of integrated payment services.
- As a result of an extensive M&A strategy, ClearCourse had already added over 20 companies to its portfolio 3 years after its foundation.
- in the next two years, ClearCourse acquired the e-commerce platform SellerDeck, marking its strategic entry into the e-commerce sector and announced a new CEO, CFO and COO to drive forward the company’s ambitious growth plans.
- Accessing the B2B retail market as a new source of revenue alongside B2C and charity by acquiring the specialized B2B e-commerce platform GOb2b
- With the takeover of Rezcontrol, ClearCourse has completed its latest acquisition and bringing revenue close to £80mn, strengthening its position as one of the most active acquirers in the UK software market.
You can read more on Aquiline Capital’s acquisition of ClearCourse here, and more on ClearCourse’s acquisition of Rezcontrol here.
*All data from CrunchBase, as of July 7, 2025.
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