Add-on Acquisitions in 2015

Control Devices, LLC acquired specific operating assets of Flexi-Hinge Valve Company, Inc., an asset purchase that serves as Control Devices' seventh add-on. The deal expands Control Devices’ flow-control product line by adding Flexi-Hinge’s check valve technology used across municipal and industrial applications, while preserving product and customer continuity.

Chantilly-based ISO Direct Connect acquired a merchant portfolio from PayLogic and will provide investment capital and operational support to grow PayLogic’s CampusConnect program. Direct Connect — majority-owned by private equity firm The Beekman Group — said the purchase aligns with its strategy of growth through portfolio acquisitions and partnership with ISOs.

Geritrex, a BelHealth Investment Partners portfolio company, has acquired the business and assets of PurinePharma, a private-label manufacturer and distributor of OTC liquid nasal, allergy, and cough & cold products based in Massena, New York. The add-on expands Geritrex's manufacturing capabilities into liquid dosage forms, provides access to the retail private-label channel and export markets, and adds a CGMP-approved manufacturing facility in upstate New York.

Industrial Group Holdings, a portfolio company of Dunes Point Capital, has acquired Standard Locknut, LLC from investors Capital For Business and Centerfield Capital Partners. Standard Locknut is a precision manufacturer of bearing accessories based in Westfield, Indiana; the deal expands Industrial Group Holdings’ manufacturing capabilities and product offering across industrial end markets.

Webster Capital-backed portfolio company Behavior Health Holdings acquired MedMark Services Inc., combining MedMark with its BAART subsidiary to create the third-largest methadone treatment provider in the U.S. Fifth Street Asset Management led a $130 million one‑stop financing facility to refinance BAART and support the add-on acquisition of MedMark; the financing included investments from Fifth Street Finance Corp. and Fifth Street Senior Floating Rate Corp.

Aero 3, Inc., together with its wholly owned subsidiary AeroRepair Corp., acquired the Wheel & Brake Division of Avianor, Inc., expanding Aero 3's MRO footprint into Canada. The acquisition adds Montreal and Calgary facilities, increases capacity and broadens AeroRepair's capability to service Boeing and Airbus narrow- and wide-body aircraft as part of an add-on growth strategy.

Trelleborg AB, through its Offshore & Construction business area, has agreed to acquire Maritime International, Inc., a privately owned U.S. marine fender systems designer and manufacturer based in Broussard, Louisiana. The bolt-on deal expands Trelleborg's production and engineering footprint in North America and strengthens its berthing, docking and mooring offering; the acquired business has annual sales of approximately SEK 200 million and the transaction was expected to close in Q4 2015.

Accella Performance Materials, a portfolio company of Arsenal Capital Partners, has acquired Premium Spray Products Group of Companies (including PSP Canada). Premium Spray Products, a Marietta, Georgia–based manufacturer of spray foams and specialized polyurethane systems, will be integrated into Accella's polyurethane platform; the company's president Mac Hess will remain with Accella. The majority stockholder PFM Capital and other shareholders were represented by Bravaldo Capital Advisors in the transaction.

Priority Ambulance, a Knoxville-based national EMS operator and portfolio company of Enhanced Equity Funds, has acquired Atlanta-based Central Emergency Medical Services, Inc. and Central Air Ambulance. The deal expands Priority's geographic footprint into Georgia, adds air ambulance capabilities, and increases its patient transport network across the Southeast.

United States Pipe and Foundry Company, LLC (U.S. Pipe), a portfolio company of Wynnchurch Capital and Comvest Partners, has acquired Custom Fab, Inc., a Florida-based fabricator of pipes and fittings serving the waterworks industry. The deal expands U.S. Pipe's fabrication footprint, adds specialty linings and coatings capabilities, and is intended to improve cost position and customer service across both companies' customer base.

ECS Tuning, owned by Bertram Capital, acquired Turner Motorsport from its shareholders; BDO Capital Advisors served as exclusive financial advisor to Turner Motorsport. The transaction is ECS's first add-on to its e-commerce platform and aims to broaden product selection and create a premier online destination for BMW parts, with founder Will Turner remaining as President of the Turner Motorsport division.

Liberty Hall Capital Partners has acquired LaCroix Industries Inc., a Kent, Washington-based Tier II supplier of formed and machined aerospace parts, and will integrate the business into its Accurus Aerospace platform. The add-on expands Accurus's sheet-metal forming and complementary machining capabilities, strengthens relationships with Boeing, and extends Accurus's geographic footprint into the Pacific Northwest.

Horizon Bradco, based in Schenectady, New York, acquired Wallingford, Connecticut–based Allied Mechanical Services LLC (AMS) and New England Controls LLC (NEC). The acquisitions add commercial refrigeration, HVAC and low-voltage energy management capabilities, approximately 35 licensed refrigeration mechanics, and a Connecticut physical location to Horizon Bradco's service platform.

Prime Risk Partners Inc., a portfolio company of Thomas H. Lee Partners, has acquired Cook Maran & Associates, one of the largest independent insurance agencies operating in New York and New Jersey. Cook Maran will continue to operate under its current name, retain its five offices and leadership team, and become part of Prime Risk's regional insurance brokerage platform as the firm pursues organic growth and further acquisitions.

Identity Group Holdings (an Ancor Capital Partners portfolio company) has acquired Allen Screen Printing, Inc., a Scarborough, Maine-based provider of screen-printing, digital printing, signage fabrication and fulfillment services. The add-on expands Identity Group’s capabilities and specialty presence in retail and grocery/convenience signage and fulfillment; terms were not disclosed.

BlackHawk Industrial has acquired Packaging Incorporated, a packaging and fastening equipment and supplies distributor headquartered in Eden Prairie, Minnesota. The acquisition expands BlackHawk's geographic footprint into additional Minnesota and Wisconsin markets and establishes a presence in Iowa; Packaging's commercial management will continue to lead the business within BlackHawk. Financial terms were not disclosed.

ADCS Clinics (ADCS) has acquired Denver Dermatology Consultants, P.C., a three-location dermatology practice serving Denver, Thornton and Wheat Ridge, Colorado. The transaction expands ADCS's presence in the Denver market as the dermatology platform continues to grow its national footprint; ADCS operates over 100 clinics and has acquired more than 40 offices in the past 18 months.

US LBM Holdings, LLC has acquired Lampert Lumber of St. Paul, Minnesota from fourth-generation owner Dan Fesler, who will remain as an advisor. The acquisition adds Lampert's 33 locations in the Upper Midwest to US LBM's multi-brand building products platform, supporting geographic expansion and continued investment in Lampert's operations.

Stagnito Business Information, a portfolio company of Topspin Partners, has acquired a collection of Canadian convenience, foodservice, pharmacy and related B2B media brands and events from Fulcrum Media. The deal expands Stagnito's media and events footprint in Canada and broadens its capabilities across convenience retail, foodservice and pharmacy markets.

Eagle American Insurance (EAI), supported by Insurance Office of America (IOA) and Dowling Capital Partners (DCP), has acquired Commonwealth Insurance of the Bay Area, a family-owned personal-lines insurance agency founded by Jason Butts in 2002. Commonwealth will continue to operate under its existing brand and staff while gaining access to EAI/IOA carrier relationships and national resources as part of EAI’s succession and expansion strategy.

Nudo Products, a PE-backed manufacturer of laminated panels, has acquired Marlite, Inc., an Ohio-based maker of interior wall and ceiling panel solutions. The deal combines Nudo's laminating and commercial building product capabilities with Marlite's decorative and functional panel systems to create a larger integrated provider for retail, healthcare and commercial customers across the U.S. and Canada.

Recorded Books, a portfolio company of Wasserstein & Co., LP, acquired 100% of the stock of Tantor Media, Inc. in an all-cash transaction that closed on December 31, 2014. The acquisition adds Tantor's extensive audiobook catalog and production capabilities to Recorded Books' distribution channels, aiming to accelerate growth and expand reach into library, school and retail markets.

ADCS Clinics has completed the acquisition of Dermatology Associates of Northern Michigan, a Petoskey, Michigan dermatology practice led by Dr. Murray Cotter. The deal expands ADCS's national footprint in Michigan and adds surgical and cosmetic dermatology capabilities to its network of over 100 clinics and practice-management services.

PCX Aerostructures, LLC acquired Cam‑Tech Manufacturing, LP on December 23, 2014; Cam‑Tech will operate as a wholly owned subsidiary with Roger Hagger remaining as Vice President. The add-on expands PCX’s precision machining and integrated assembly capabilities for commercial and military aerospace (and power generation) customers; senior debt was provided by First National Bank of Pennsylvania, The PrivateBank, and First Niagara Bank.