Add-on Acquisitions in 2017

The Hilb Group, LLC (a Richmond-based, PE-backed insurance agency) has acquired Insurance Trustees, Inc., an Indiana-based property & casualty and employee benefits agency, effective December 1, 2017. Insurance Trustees will continue to operate from its Garrett, Indiana office under its existing name, joining THG’s growing platform to strengthen the firm’s geographic presence in Indiana.

Network Security Group (NSG), the cybersecurity distribution arm of Temprano Techvestors, acquired the software distribution and value-added resale division of New Jersey-based Waytek Software. The deal adds Waytek's Avast Business line to NSG's partner offerings while Waytek will concentrate on its managed services business.

Alera Group completed three add-on acquisitions effective December 1, 2017, acquiring Armstrong/Robitaille/Riegle Business and Insurance Solutions (Irvine, CA), Hallberg Commercial Insurers, Inc. (Oak Brook, IL), and the employee benefits division of Walker Higgins Associates (Spartanburg, SC). The acquisitions expand Alera Group’s regional footprints in southern California, the Chicago area, and South Carolina and increase its nationwide network of employee benefits, P&C, risk management and wealth management firms.

Visioneering, Inc., a portfolio company of family office 3P Equity Partners, has acquired the assets of Plasco Tooling and Engineering Corporation. The deal adds Plasco’s composite tooling, fixtures and patented stretch form die technology and 42,000 ft2 manufacturing capability in Romeo, Michigan to Visioneering’s aerospace tooling platform to expand capabilities in the aerospace and defense market.

Magna5, a NewSpring Holdings portfolio company, has acquired Pittsburgh-based managed services provider NetServe365 to expand Magna5's managed IT, security and cloud capabilities. The deal is an add-on to Magna5's platform and aims to strengthen security, monitoring and managed services offered to Magna5's predominantly SMB customer base.

Iconex LLC, a portfolio company of Atlas Holdings LLC, has acquired RiteMade Paper Converters, Inc., a paper converting manufacturer headquartered in Kansas City, Kansas. Dinan Capital Advisors served as exclusive financial advisor to RiteMade, which was 100% ESOP owned and operates three manufacturing facilities in Kansas City (KS), Ashland (VA) and Reno (NV).

RESA Power, LLC has acquired HMT, Inc., a Cicero, New York-based provider of NETA-certified high-voltage electrical testing, repair and maintenance services. The acquisition expands RESA Power's service footprint across New York, Pennsylvania and Connecticut and strengthens its capabilities for mission-critical power distribution equipment; RESA Power is a PE-backed platform (Blue Sea Capital).

The Hilb Group, a Richmond-based insurance brokerage and portfolio company of Abry Partners, acquired HR Knowledge (HRK), a Mansfield, Massachusetts-based provider of payroll, employee benefits, and HR management services, effective November 1, 2017. The add-on deal expands THG's benefits and outsourced HR capabilities; HRK's managing directors Ken Bettenhauser and Jeff Garr will continue to operate from Mansfield.

Epiphany Dermatology has expanded its Dallas/Fort Worth footprint by acquiring R. Todd Plott, MD, PA, doing business as Dermatology Alliance. The providers and support staff from the three-clinic practice have joined Epiphany; Dr. R. Todd Plott will serve as Epiphany’s DFW Market Medical Director to support expanded patient access and clinical leadership.

StoneCalibre has completed the acquisition of Applied Voice & Speech Technologies, Inc. (AVST) and merged the business into XMedius Solutions Inc. The combination brings together AVST's unified communications software with XMedius's secure file-exchange capabilities to create an integrated enterprise communications offering.

Trademark Global, a portfolio company of Bertram Capital, has acquired DTX International, a seller of branded specialty consumer products on Amazon and other third-party platforms. The transaction is an add-on deal intended to expand Trademark Global's assortment across home & kitchen, hardware, tools, and automotive accessories and to scale its online retail capabilities.

Alera Group completed the acquisition of four regional employee benefits and insurance firms — Axis Benefit Consultants (Westmont, IL), Employer Concept Insurance Services (Irvine, CA), Jeatran Associates (Menomonie, WI) and Simpson McCrady Benefits LLC (Pittsburgh, PA) — effective October 1, 2017. The transactions add more than 50 employees to Alera Group and expand its national footprint across multiple states; terms were not disclosed.

Clubessential acquired PrestoSports Inc., a provider of SaaS athletic content and event management software, expanding Clubessential's customer base by ~65% and launching a new Sports Division. The deal is an add-on to Clubessential (backed by Battery Ventures) that broadens its membership and club management offering with collegiate athletics website, stats, camp management and live event broadcasting capabilities.

Catapult Learning has acquired Desert Heights Academy (DHA), a Phoenix-area special education provider that enrolls more than 250 students. DHA will join Catapult Learning’s Schools Group as the organization expands its special education footprint in Arizona.

Parkway Products, a Florence, Kentucky-based manufacturer backed by private equity sponsor Capital Partners, has completed the acquisition of LMR Plastics in Greeneville, Tennessee from Leonard Industries Manufacturing, LLC. The add-on expands Parkway's large-tonnage injection molding and in-mold decorating capabilities and adds a southeastern U.S. production location to Parkway's network.

Plantation Products, LLC (based in Norton, Massachusetts) has acquired SUPERthrive, a long-running plant vitamin solution brand headquartered in North Hollywood, California, for an undisclosed sum. The acquisition expands Plantation Products’ portfolio of gardening and seed-related consumer brands and aims to increase SUPERthrive’s retail distribution and reach among home gardeners and professional growers.

Impact XM, a portfolio company of AGI Partners LLC, has acquired Atlantic Exhibits, a full-service trade show exhibit and event firm. The deal expands Impact XM’s experiential marketing capabilities and footprint across the Washington, Baltimore, Philadelphia and Richmond/Tidewater markets; terms were not disclosed.

Wind River Environmental, a Marlborough, Massachusetts-based environmental services company, acquired Soucy Sewer Service of Salem, New Hampshire to expand its septic and wastewater service coverage in southern New Hampshire and northern Massachusetts. The transaction was brokered by New Hampshire Business Sales; the seller (Mr. Soucy) will continue to focus on septic system installations while Wind River absorbs Soucy's service area and customers.

ETAK Systems, a Charlotte-based portfolio company of Mosaic Capital Partners, has acquired an Ohio-based provider of wireless tower construction and site-acquisition engineering services. The add-on expands ETAK's geographic coverage into the Ohio Valley, adds tower crews and site management capabilities, and allows ETAK to integrate drone mapping and 3D modeling into the target's site-acquisition work.

Construction Supply Group, a portfolio company of private equity firm The Sterling Group, has acquired Carter-Waters, LLC from Aiglon Capital. Carter-Waters is a leading Midwest distributor of construction materials, tools and rental equipment with 19 locations across multiple states; the deal is a platform add-on to expand Construction Supply Group's geographic footprint and service capabilities.

Riverchase Dermatology, a portfolio company of GTCR, has acquired Bowes Dermatology, a Miami-based medical and cosmetic dermatology practice founded by Dr. Leyda Bowes. Dinan Capital Advisors served as exclusive financial advisor to Bowes and its shareholders in the transaction, which expands Riverchase's clinical footprint and capabilities in Florida.

Boston Logic, a Providence Equity–backed real estate SaaS platform, has acquired Propertybase, a Boulder-based real estate CRM and marketing SaaS provider. Propertybase's management and its ~48-person team will remain in place as the combined company maintains both product offerings and seeks to expand its US and global footprint.

VRI, a portfolio company of Pamlico Capital, has acquired Healthcom Inc., a Sullivan, Illinois-based provider of medical alert, medication management and telehealth solutions. The deal, announced by Woodbridge International, expands VRI's remote monitoring and adherence services and adds Healthcom's provider partnerships and technology to VRI's platform.

Knight Dental Group, Inc. completed a 100% asset acquisition of York Dental Laboratory, Inc. on May 12, 2017. The acquisition strengthens Knight's presence in the Northeastern United States and adds York's full-service dental lab capabilities and technology expertise to Knight's growing network.

Require Holdings, the portfolio company of L2 Capital, has acquired Service 1st Valuation and Settlement Services, Inc. as a wholly-owned subsidiary. The add-on expands Require's technology-enabled real estate transaction and valuation capabilities; terms were not disclosed.

Blue Sage Capital, in partnership with Trailcreek Capital Group and industry veteran John Gustafson, formed Frontier Waste Holdings and announced initial acquisitions of Access Disposal Services and K2 Waste Solutions to create a Texas-based municipal solid waste platform headquartered in Dallas. Frontier will operate municipal, residential, commercial and industrial waste services in the region and is pursuing further add-on acquisitions across Texas.

Keais Record Retrieval, a portfolio company of The CapStreet Group, acquired National Legal Services, LLC (NLS), a provider of medical-record retrieval and related document management services for insurance carriers and law firms. NLS had minority investors NewSpring Mezzanine Capital and CVF Capital Partners; Cleary Gull served as exclusive financial advisor to NLS on the transaction.

Kerr Consulting, a PE-backed Sage reseller and IT services firm, has acquired Atlanta-based Software Link, a long-standing Sage partner focused on Sage X3, 100, 500, HRMS and Business Works. The deal—completed with support from majority investor Proviso Capital—adds geographic presence, Sage expertise and the Software Link team while the selling owner, Stanley Kania, remains highlighted as the transaction seller.

RESA Power, LLC has acquired Pro-Con Electrical Testing, Ltd., a Richmond, British Columbia-based electrical testing and maintenance services provider. The deal establishes RESA's first service offering in Canada and expands its North American field service footprint through Pro-Con's experienced team and local presence.

ACProducts, Inc. (acpi), a portfolio company of American Industrial Partners, has acquired Smart, LLC, a New Paris, Indiana-based manufacturer of stock kitchen and bath cabinets. The transaction adds Smart's manufacturing capability and dealer/distributor network to acpi's existing cabinetry platform, expanding its footprint and product offerings in the residential and institutional housing markets.

Highlander Partners, a Dallas-based private investment firm, acquired a controlling interest in Hi‑Tech Industries, a Farmington, Michigan manufacturer and distributor of professional car care products and specialty aerosols. Hi‑Tech will continue to operate autonomously from its Farmington and Southfield facilities under its existing management while Highlander pursues a buy-and-build strategy in the automotive appearance market.

Zenith American Solutions has acquired Pacific Federal, a California-based employee benefits administrator, to deepen its West Coast presence and expand its national third-party administration capabilities. PacFed serves more than 200 employers and 30,000 members in Southern California; PacFed's president Jim Garrison will continue to lead the business and report to Zenith's CEO. Financial terms were not disclosed.

Career Step, a Revelstoke Capital Partners portfolio company, has acquired the Revenue Capture and Coding and Documentation divisions of Panacea Healthcare Solutions. The deal brings Panacea's coding, compliance, consulting and data-analytics capabilities into Career Step's Professional Training Division to create an end-to-end education, consulting and analytics offering for healthcare revenue cycle customers.

Station Partners-backed Evolve Logistics Group has acquired Blue Bear Universal, Inc. and Maryland Transport Group, Inc., two contract service providers to FedEx Ground operating in New Jersey and Maryland hubs. The deal creates a platform for Evolve to expand its FedEx Ground service footprint through organic route growth and strategic add-on acquisitions; Blue Bear founder Michael Cohen will remain with the business as COO.

Liberty Hall Capital Partners has acquired Quatro Composites, a supplier of advanced composite structures and thermoplastic components, and will integrate the business into its AIM Aerospace platform. The add-on expands AIM's capabilities into structural composites and thermoplastics, broadening customer, platform and geographic diversification across commercial aerospace, defense and other industrial end markets.

One Equity Partners' portfolio company The W.W. Williams Company, LLC has acquired Desert Fleet-Serv Inc., a Phoenix-based mobile provider of onsite maintenance and repair services for diesel trucks and trailers. The tuck-in expands W.W. Williams' fleet maintenance capabilities and strengthens its presence in the Phoenix metropolitan market; financial terms were not disclosed.