---
title: Key industries shaping the future of private equity add-on investments
description: See the top industries fueling growth to existing platform investments and recent notable acquisitions.
---

[Private Equity Blog - Trends, Deals, & Firm Insights ](https://privateequityinfo.com/blog)

# [Key industries shaping the future of private equity add-on investments](https://privateequityinfo.com/blog/key-industries-shaping-the-future-of-private-equity-add-on-investments)

 Written by [Andy Jones | Private Equity Info](https://privateequityinfo.com/blog/author/andy-jones-private-equity-info) | Sep 18, 2024 2:30:10 PM

Private equity firms are increasingly focused on add-on acquisitions, [as we previously reported](https://privateequityinfo.com/blog/top-private-equity-firms-ranked-by-add-on-investments). 

These investments play a crucial role in fueling growth to existing platform investments and employing a valuation multiple arbitrage strategy. 

Analyzing add-on acquisitions data from our [M&A Research Database](https://privateequityinfo.com/) at the 4-digit NAICS code level, we pinpointed the top 10 industries currently attracting the most interest from private equity firms. 

#### **Top 10 Industries of Interest for Add-On Investments** 

| **Rank** | **NAICS Code**  | **Industry**  |
| --- | --- | --- |
| 1  | 5112  | Software  |
| 2  | 5416  | Management, Scientific, and Technical Consulting Services  |
| 3  | 5413  | Architectural, Engineering, & Related Services  |
| 4  | 3254  | Pharmaceutical and Medicine Manufacturing  |
| 5  | 5239  | Financial Investment Activities  |
| 6  | 4246  | Chemicals and Allied Products  |
| 7  | 3334  | HVAC and Commercial Refrigeration Equipment Manufacturing  |
| 8  | 5417  | Scientific Research & Development  |
| 9  | 3313  | Alumina and Aluminum Production and Processing  |
| 10  | 4532  | Office Supplies, Stationery, and Gift Stores  |

 

 

#### **Sample Private Equity Investments in Key NAICS Code Sectors **

###### **Software - September 2024** 

 [HgCapital](https://privateequityinfo.com/directory/private-equity-firm/hgcapital)'s portfolio company [Ncontracts](https://privateequityinfo.com/directory/private-equity-portfolio-company/1/ncontracts) (*Brentwood, TN*) acquired [Venminder](https://privateequityinfo.com/directory/private-equity-portfolio-company/venminder) (*Elizabethtown, KY*) as an add-on investment. 

*Venminder is a provider of a unified Software-as-a-Service (SaaS) platform for third-party risk management. * 

###### **Management, Scientific, and Technical Consulting Services – July 2024** 

[Mountaingate Capital](https://privateequityinfo.com/directory/private-equity-firm/mountaingate-capital)‘s portfolio company [Bold Orange](https://privateequityinfo.com/directory/private-equity-portfolio-company/bold-orange) (*Minneapolis, MN*) acquired [Journey 121](http://www.journey121.com/) (*Minneapolis, MN*) as an add-on investment. 

*Journey 121 is a software as a service (SaaS) technology platform focused on supporting multi-location brands to deliver turnkey, personalized marketing programs.* 

###### **Architectural, Engineering, & Related Services - September 2024** 

[Brightstar Capital Partners](https://privateequityinfo.com/directory/private-equity-firm/brightstar-capital-partners)‘s portfolio company [Astrion](https://privateequityinfo.com/directory/private-equity-portfolio-company/2/astrion) (*Huntsville, AL*) acquired [Axient](http://www.axientcorp.com/) (*Huntsville, AL*) as an add-on investment. 

*Axient is a provider of highly technical engineering and management support services.* 

###### **Pharmaceutical and Medicine Manufacturing** **- September 2024** 

[MVP Capital Partners](https://privateequityinfo.com/directory/private-equity-firm/mvp-capital-partners)‘s portfolio company [ANI Pharmaceuticals](https://privateequityinfo.com/directory/private-equity-portfolio-company/ani-pharmaceuticals) (*Baudette, MN*) acquired [Alimera Sciences](http://www.alimerasciences.com/) (*Atlanta, GA*) as an add-on investment. 

*Alimera Sciences is a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic Pharmaceuticals.* 

###### **Financial Investment Activities - July 2024** 

[Summit Partners](https://privateequityinfo.com/directory/private-equity-firm/summit-partners)'s portfolio company [Earned Wealth](http://www.earnedwealth.com/) (*New York, NY*) acquired [Thomas Doll](https://thomasdoll.com/) (*Walnut Creek, CA*) as an add-on investment. 

*Thomas Doll provides physicians and dentists with full-circle financial care, including wealth management, retirement planning, tax planning and consulting services, including payroll expertise, practice creation, succession consulting, and personal consulting.* 

###### **Chemicals and Allied Products** **- June 2024** 

[Sterling Group](https://privateequityinfo.com/directory/private-equity-firm/sterling-group)‘s portfolio company [White Cap](https://privateequityinfo.com/directory/private-equity-portfolio-company/white-cap-construction-supply-group) (*Norcross, GA*) acquired [Dayton Superior](http://www.daytonsuperior.com/) (*Miamisburg, OH*) as an add-on investment. 

*Dayton is a provider of highly engineered accessories, chemicals and forming solutions within the concrete construction industry.* 

###### **HVAC and Commercial Refrigeration Equipment Manufacturing - September 2024** 

[Kian Capital Partners](https://privateequityinfo.com/directory/private-equity-firm/kian-capital-partners)‘s portfolio company [Team Air Distributing](https://privateequityinfo.com/directory/private-equity-portfolio-company/3/team-air-distributing) (*Nashville, TN*) acquired [Best Choice Supply](http://www.bestchoicesupply.com/) (*Lexington, KY*) as an add-on investment. 

*Best Choice Supply is a HVAC wholesale distributor.* 

###### **Scientific Research & Development - June 2024** 

[LongueVue Capital](https://privateequityinfo.com/directory/private-equity-firm/longuevue-capital)‘s portfolio company [Pinnacle Clinical Research](https://privateequityinfo.com/directory/private-equity-portfolio-company/3/pinnacle-clinical-research) (*San Antonio, TX*) acquired [Dallas Research Institute](http://www.researchdallas.com/) (*Dallas, TX*) as an add-on investment. 

*Dallas Research Institute is focused on executing complex metabolic clinical trials in underserved communities supporting underrepresented patient populations.* 

###### **Alumina and Aluminum Production and Processing - August 2024** 

[American Securities](https://privateequityinfo.com/directory/private-equity-firm/american-securities)‘s portfolio company [Vibrantz Technologies](https://privateequityinfo.com/directory/private-equity-portfolio-company/1/vibrantz-technologies) (*Houston, TX*) acquired [Micro Abrasives Corporation](http://www.microgrit.com/) (*Westfield, MA*) as an add-on investment. 

*Micro Abrasives is a manufacturer of specialty alumina.* 

###### **Office Supplies, Stationery, and Gift Stores – June 2023** 

[JAL Equity](https://privateequityinfo.com/directory/private-equity-firm/jal-equity)‘s portfolio company [Marketing.com](https://privateequityinfo.com/directory/private-equity-portfolio-company/3/marketingcom) (*Plantation, FL*) acquired [American Stationery](http://www.americanstationery.com/) (*Peru, IN*) as an add-on investment.

*American Stationery offers personalized stationery, personalized address labels and printed products. *

[View full post](https://privateequityinfo.com/blog/key-industries-shaping-the-future-of-private-equity-add-on-investments)

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