Tracking when private companies are nearing a sale, recap, or financing event has always been a guessing game. With thousands of sponsor-backed firms spread across sectors and geographies, most deal teams are forced to react after the market moves.
Investors, bankers, and service providers struggle to know which private companies are gearing up for a transaction or capital raise. Signals are scattered, opaque, and nearly impossible to track across thousands of PE- and VC-backed businesses.
Dakota centralizes those signals (holding periods, funding rounds, platform acquisition dates, ownership changes, and exit timing patterns) into one predictive transaction-readiness tool. Instead of waiting for headlines, users can see which companies are showing the strongest likelihood of pursuing a sale, recapitalization, or new financing before the market knows.
Below is today’s list of five PE- or VC-backed companies that, based on their hold period, financing stage, and last transaction date, appear to be credible candidates for a sale or next-round raise.
Nothing is guaranteed, but these companies fall squarely within the timing windows where sponsors typically look to generate liquidity or secure additional capital.
Sourced from Dakota Sponsor Backed Companies.
1. Flow Control Group
Flow Control Group (FCG) is a leading distributor of mission-critical flow control and industrial automation products and services across North America. Serving industries such as general and chemical processing, food and beverage, energy, and life sciences, FCG offers a comprehensive range of products—including air compression, dehydration, purification, instrumentation, and piping systems—as well as technical services like repair, calibration, and installation.
- Sector: Industrials
- Industry: Machinery
- Last known transaction date: Acquisition by KKR in February 2021.
- Major sponsors/backers: KKR from Bertram Capital.
- Why timing suggests a near-term transaction: As of 2025, Flow Control Group is approaching 5 years post-buyout (KKR acquired the platform in February 2021), extending beyond the typical ~4-year PE hold-period when many mid-market industrial platforms come to market. Given continued consolidation in industrial automation and strong buyer demand for scaled flow-control distribution assets, market conditions may incentivize a sale or recap.
2. US LBM
US LBM Holdings is one of the largest building products distributors in the United States, operating over 450 locations nationwide. The company offers a comprehensive range of specialty building materials, including windows, doors, millwork, roofing, siding, cabinetry, and wallboard, serving custom home builders, national builders, and specialty contractors.
- Sector: Industrials
- Industry: Building Products
- Last known transaction date: November 2020 with majority investment from Bain Capital.
- Major sponsors/backers: Bain Capital and Platinum Equity.
- Why timing suggests a near-term transaction: By 2025, US LBM sits 4–5 years post-buyout, beyond the typical ~4-year PE hold window for building products distribution platforms. With consolidation surging in building materials and infrastructure-related industrials, the sponsor may consider a sale or large recap.
3. GrayMatter Robotics
Acceldata is a leading provider of enterprise data observability solutions, offering a comprehensive platform that enables organizations to monitor, manage, and optimize their data pipelines for reliability, governance, and performance. Their solutions are utilized by global enterprises to ensure data quality and operational excellence.
- Sector: Industrials
- Industry: Machinery
- Last known funding round: Series B, $45M, announced June 2024.
- Major sponsors/backers: Led by Wellington Management, with participation from NGP Capital, Euclidean Capital, Advance Venture Partners, SQN Venture Partners, 3M Ventures, B Capital, Bow Capital, Calibrate Ventures, OCA Ventures, Swift Ventures
- Why timing suggests a near-term transaction: GrayMatter’s Series B closed in June 2024, placing the company at roughly 18 months since its last raise—the typical timing for a B→C round (~18 months). With capital-intensive expansion underway and demand accelerating across advanced manufacturing, the company sits at a natural point to raise a Series C or pursue strategic capital.
4. Bright Machines
Bright Machines is a San Francisco-based company specializing in AI-powered manufacturing solutions. Their platform integrates flexible factory robots with intelligent software, production data, and machine learning to automate complex manufacturing processes, enhancing efficiency and adaptability in production lines.
- Sector: Industrials
- Industry: Machinery
- Last known funding round: Series C, $126M, announced June 2024.
- Major sponsors/backers: Led byBlackRock, with participation from NVIDIA, Microsoft, Eclipse Ventures, Jabil, and Shinhan Securities; $20 million in venture debt from J.P. Morgan.
- Why timing suggests a near-term transaction: Bright Machines completed its Series C in June 2024, putting it about 17–18 months beyond its last round by late 2025, approaching the ~24-month C→D/late-stage fundraising window. Given increasing demand for electronics and AI-server manufacturing automation, the company is nearing the stage when many Series C industrial automation businesses seek additional capital or strategic investment.
5. Third Wave
Third Wave Automation specializes in cloud robotics and machine learning technologies for material handling automation. Their Shared Autonomy Platform integrates autonomous reach trucks with intelligent fleet management, enabling human operators to oversee operations while intervening only when necessary, thereby enhancing safety and efficiency in warehouse environments.
- Sector: Industrials
- Industry: Machinery
- Last known funding round: Series C, $27M, announced October 2024.
- Major sponsors/backers: Led by Innovation Endeavors, with participation from Eclipse Ventures, Homebrew VC, Toyota AI Ventures, Heartland VC.
- Why timing suggests a near-term transaction: Third Wave Automation’s Series C closed in October 2024, placing it at roughly 13 months post-round—within the 12–18-month watch window for companies nearing the C→D stage (~24 months). With production and deployment of autonomous forklifts scaling, the company is entering a period when many growth-stage industrial automation players pursue larger growth rounds or strategic partnerships.
Use Dakota's Sponsor Backed Company Intelligence to Spot Likely Exits Before the Market Does
Dakota’s private company data gives you a real-time view into thousands of sponsor-backed companies, including platform acquisition dates, funding rounds, parent sponsors, add-on activity, and sector categorization.
Instead of guessing where companies are in their lifecycle, you can instantly identify which ones are approaching the typical timing windows for a sale or recap.
Fully integrated into Dakota Marketplace, this dataset enables deal sourcers, investor relations teams, and allocators to anticipate transactions, build targeted outreach lists, and stay ahead of market announcements, every single day.
