Quick answer: three verified acquisitions closed in the lower middle market between August 31 and September 11, 2026 — Endurion Capital’s ~$100M purchase of Connected Dealer Services, Lion Equity Partners’ $30M carve-out of Myers Tire Supply, and Ilkka Oyj’s EUR 12M acquisition of Custobar. Below, each deal plus a closer look at two of the buyers behind them.
Every deal is pulled directly from WhoBoughtWho’s tracked acquisition history, verified against its original source — no estimates presented as fact, no unsourced deals.
| Acquirer | Target | Deal size | Announced | Type |
|---|---|---|---|---|
| Endurion Capital | Connected Dealer Services | ~$100M EV | Sep 11, 2026 | Search fund |
| Lion Equity Partners | Myers Tire Supply (NA) | $30M | Sep 3, 2026 | PE carve-out |
| Ilkka Oyj | Custobar | EUR 12M EV | Aug 31, 2026 | Strategic |
3 recent acquisitions
Endurion Capital → Connected Dealer Services
- Connected vehicle tech / dealer software · United States · ~$100M enterprise value · Closed · Sep 11, 2026
Endurion Capital, led by Marcus Padmo Jörgensen and Tommy Högström, closed one of the largest deals in the search fund landscape to date — CDS had roughly $80M in 2025 revenue and over $13M in EBITDA. The deal was backed by a syndicate including Pacific Lake Partners, Ambit Partners, WSC & Company, and Banyan Software Capital, among others.
- Fund: Endurion Capital
- Backed by: Pacific Lake Partners, Ambit Partners, WSC & Company, Hadley Family Capital, Scipio, Moonbase Capital, Applied Equity Partners, Banyan Software Capital
- Source: Search Funds NewsFull deal record on WhoBoughtWho →
Lion Equity Partners → Myers Tire Supply
- Aftermarket tire and wheel service parts distribution · United States · $30M · Closed · Sep 3, 2026
A carve-out of Myers Industries’ North American distribution business — 233 employees, ~$187M in annual revenue, founded 1933 — ending nine decades of common ownership. KeyBanc Capital Markets advised on the sale.
- Buyer type: Private equity · Fund vehicle not disclosed
- Source: PE ProfessionalFull deal record on WhoBoughtWho →
Ilkka Oyj → Custobar
- Martech / customer data platform SaaS · Finland · EUR 12M enterprise value · Closed · Aug 31, 2026
Finnish media group Ilkka Oyj acquired 100% of Custobar Oy, a customer data platform and marketing automation SaaS business with 2025 revenue of EUR 5.3M and EBITDA of EUR 0.6M. A strategic acquisition, not a financial sponsor — worth noting since so much of this band’s disclosed activity is search-fund-driven.
- Source: Ilkka Oyj stock exchange release
Buyer spotlight
Buyer Spotlight — Endurion Capital
- Search fund
A search fund vehicle — an entrepreneur raises capital to search full-time for a single company to acquire and run. The Connected Dealer Services deal is notable less for the sponsors backing it and more for its size: at ~$100M enterprise value, it sits well above the typical search fund acquisition, which more commonly closes in the $10M-$30M range. That signals either an unusually large search fund raise or a co-investment structure pulling in acquisition capital beyond a single traditional search fund’s usual ceiling.
- See Endurion Capital's full deal history →
Buyer Spotlight — Lion Equity Partners
- Private equity
A private equity firm whose Myers Tire Supply deal fits a recognizable playbook: acquiring a carved-out division of a larger public company rather than a standalone target. Carve-outs like this one often trade at more attractive multiples than a fully-marketed standalone auction, because the parent company is optimizing for balance-sheet simplification rather than maximizing sale price — worth tracking as a distinct sourcing channel from the usual owner-operated seller.
- See Lion Equity Partners's full deal history →
WhoBoughtWho tracks acquisitions like these as they’re announced — browse the full acquisition history, explore the private equity and search fund directories, or subscribe to WhoBoughtWho Weekly for verified deals delivered every week.