More than 56 SF acquisitions so far in 2026

These figures should be considered preliminary. We are aware that some transactions—particularly in the United States—have likely not yet been identified, while others remain undisclosed due to confidentiality constraints. Nevertheless, we believe it is worthwhile to review the activity recorded so far to identify the markets that have been the most active during the first part of the year.

To date, we have identified more than 56 SF acquisitions worldwide, highlighting the continued growth and increasing maturity of the SF ecosystem. Based on the current pace of activity, we expect 2026 to set a new all-time record for the number of acquisitions completed.

Although we are conscious that several U.S. transactions are still likely missing from our database, Europe is clearly experiencing exceptional momentum and appears to be the most active region globally, accounting for approximately 50–60% of all acquisitions completed so far this year. Activity has been driven primarily by Spain, which has consolidated its position as the second most active SF market in the world after the United States, representing roughly one-third of all European acquisitions. France ranks as the second most active European market in 2026, with five completed acquisitions (plus one additional acquisition in Luxembourg led by a French searcher). The country has also recorded three full exits, including Tethys, which stands out as one of the most significant SF exits globally.

So far, we have recorded 14 acquisitions in North America, 5 across Latin America, and 5 in the APAC region, reflecting particularly strong activity in Brazil and Australia during the first half of the year.

Sectors

The sector distribution of search fund acquisitions in 2026 highlights a continued preference for resilient, fragmented industries with recurring demand and strong cash flow characteristics. Industrial and business services remain the most active segment, spanning industrial maintenance, precision machining, automation, HVAC, facility management, fire protection, packaging equipment, and specialized engineering businesses. Healthcare is another key area of activity, with acquisitions ranging from medical practices, dental clinics, medical aesthetics, telemedicine, and medical devices to animal health. Technology-focused deals continue to gain momentum, particularly in vertical software, fintech, digital infrastructure, identity verification, and cloud-based B2B solutions. At the same time, searchers have shown sustained interest in essential consumer services—including childcare, funeral homes, legal services, logistics, security, and home renovation—reflecting the search fund model’s preference for businesses operating in defensive markets with predictable revenues, limited technological disruption, and attractive opportunities for long-term value creation.

Below is the full list of this 56 acquisitions completed so far in 2026: