Add-on Acquisitions in 2019

WHI Global, a portfolio company of RVE Partners, has acquired the assets of Aero-Bond Corporation through affiliated vehicle Aerobond Composites, LLC. The acquisition brings composite fabrication capabilities (layup, compression molding, adhesive bonding, vulcanization) and AS9100/ISO 9001-certified capacity in Springfield, Massachusetts into WHI's aerospace manufacturing platform as part of RVE's buy-and-build strategy.

Alera Group acquired AMCORP, Inc., a San Antonio-based benefits consulting and financial planning firm, effective December 31, 2019. The deal expands Alera Group's presence in Texas and brings AMCORP's team and local client relationships into Alera's national platform; terms were not disclosed.

MSI Express, a portfolio company backed by HCI Equity Partners, acquired Power Packaging on December 31, 2019. The add-on expands MSI Express’s contract packaging and co-manufacturing capabilities (including aseptic beverage filling and stick packaging), increases production footprint across the Midwest and Texas, and brings new customer relationships and food categories to the platform; financial terms were not disclosed.

Talus Payments, a portfolio company of A&M Capital Partners, completed three add-on acquisitions in 2019: MSP Consulting, LLC (Overland Park, KS), Merchant Services, LTD (Miami, FL) and ValuPlus Merchants Association, Inc. (Denver/Greenwood Village, CO). The transactions expand Talus's go-to-market channels, increase its higher-settled-volume merchant accounts, and brought management teams from the targets into Talus post-closing.

TIP Trailer Services, a portfolio company of I Squared Capital, has completed the acquisition of Trailer Wizards, Canada's largest commercial trailer rental and leasing company. The deal will integrate Trailer Wizards with TIP's existing Canadian business, Train Trailer Rentals, expanding TIP's footprint across Canada and strengthening its trailer leasing, rental and maintenance capabilities.

Royal Baths Manufacturing Company, Ltd. acquired Clearwater, Florida-based Quality Acrylic Baths Inc., adding manufacturing capacity and unique tub designs to Royal's product offering. Royal, a portfolio company of Cotton Creek Capital, said the deal will expand service capabilities across the Southeast (Florida, Georgia and the Carolinas).

Sigma Electric Manufacturing Corp., a portfolio company of Argand Partners, has acquired Tooling Dynamics, a York, Pennsylvania-based manufacturer of high-volume precision metal stampings and Swiss screw machining. The acquisition expands Sigma's precision metal capabilities and North American manufacturing footprint, bringing Tooling Dynamics' thin-gauge, tight-tolerance expertise into Sigma's global offering.

New Harbor Capital portfolio company FYZICAL has completed two add-on acquisitions of FYZICAL franchisees, bringing five clinics into its corporate-owned network in the Carolinas. The deal expands FYZICAL's corporate footprint to enable pilot initiatives and Centers of Excellence for the broader franchise community; New Harbor first invested in FYZICAL in 2018 and these represent the company's fourth and fifth acquisitions since that investment.

Maysteel Industries, a Littlejohn Capital portfolio company, and Porter's Group, a Resilience Capital Partners portfolio company, have merged and will operate under the Maysteel brand. The combined custom sheet metal fabricator will have six manufacturing locations across the U.S. and Mexico and employ more than 1,000 people; both Littlejohn Capital and Resilience Capital Partners remain equity owners.

Abracon, LLC has acquired ILSI America LLC and its brands ILSI, MMD, Ecliptek and Oscilent, expanding Abracon's timing and frequency control product portfolio. The deal was executed as an add-on to the Riverside Company’s Abracon platform to broaden product categories, sales channels and customer reach in timing, synchronization and RF end markets.

DexKo Global Inc., via its AL-KO Vehicle Technology business unit, has acquired Aguti Produktentwicklung & Design GmbH, a Germany-based designer and manufacturer of seating systems for motorhomes, electric vehicles and specialty vehicles. The transaction was signed in October 2019 and completed December 23, 2019; financial terms were not disclosed and Aguti's existing management team will remain in place.

Traditions Health, a Dorilton Capital-backed hospice and home health provider headquartered in College Station, Texas, has acquired Guiding Hospice, a hospice provider based in Round Rock (greater Austin). The acquisition expands Traditions Health's geographic presence in the Austin area and brings Guiding Hospice's owners, Chris Willis and Kyle Dugan, onto the Traditions team.

USA Millwork has acquired Mission Bell, a California-based architectural millwork and custom casework manufacturer founded in 1959. The deal expands USA Millwork’s national platform to five locations, adds West Coast capacity and capabilities, and brings Mission Bell CEO Glenn Ripley into the combined company leadership as president.

NSC Technologies has acquired Tucson- and Phoenix-based staffing firm Staff Matters, Inc. The add-on expands NSC's presence in the Western U.S., particularly Arizona, and brings Staff Matters' technical, professional and light-industrial staffing capabilities to NSC's platform (which is PE-backed by White Wolf Capital).

Presco Polymers, a Sherman, Texas portfolio company of River Associates Investments, acquired Pro-Line Safety Products, a West Chicago manufacturer and distributor of utility marking products, on December 19, 2019. The deal expands Presco's product offering and manufacturing capacity—adding tracer wire, flexographic printing and tape converting capabilities to serve the underground utility and utility contracting markets.

Riveron, a national business advisory firm, has acquired Conway MacKenzie, a turnaround, restructuring, and operational improvement consultancy. The combination expands Riveron's restructuring and operational capabilities and creates a combined organization with over 500 employees across 13 U.S. offices.

LABORIE Medical Technologies, a Patricia Industries portfolio company, has completed the acquisition of Clinical Innovations from funds managed by EQT for an enterprise value of $525 million. Clinical Innovations, headquartered in Salt Lake City, Utah, is a leading provider of single-use medical devices for labor & delivery and neonatal intensive care and will form a stand-alone Maternal and Child Health global business unit within LABORIE.

Absorb Software, a Silversmith Capital Partners–backed LMS provider, has acquired ePath Learning, a Connecticut-based cloud learning technology company. The deal is Absorb’s third acquisition of 2019 and is intended to expand Absorb’s footprint and capabilities in the fast-growing LMS/LXP market.

BJG Electronics Group, a Rockwood Equity Partners portfolio company based in Ronkonkoma, New York, has acquired Whitmor/Wirenetics, a Valencia, California-based supplier of high-performance wire, cable and tubing to the military, aerospace and satellite industries. The purchase expands BJG's mil-aero interconnect product offering and geographic reach; Rick Flora was named CEO of the BJG Electronics Group in conjunction with the transaction.

The Speech Pathology Group (SPG), a portfolio company of Ridgemont Equity Partners, has acquired Comprehensive Autism Center (CAC), a Temecula-based provider of in-home and center-based ABA therapies serving families across Southern California. Provident Healthcare Partners served as exclusive financial advisor to CAC; transaction terms were not disclosed and the sellers were CAC founders Andrea and Chris Macken.

High Street Insurance Partners, the insurance brokerage platform formed by Huron Capital's ExecFactor initiative, has acquired InPro Insurance Group, a full-service independent insurance agency based in Troy, Michigan. The transaction is an add-on to High Street's buy-and-build strategy, expanding the platform into Southeast Michigan while InPro's president Dave Goodman remains active in his role.

Heniff Transportation Systems, a platform backed by Olympus Partners, has acquired Superior Bulk Logistics (SBL), which operates Superior Carriers, Inc. and Carry Transit, Inc. The combination creates a larger bulk liquid and dry bulk transportation provider aimed at expanding geographies, service lines and fleet investment to serve chemical manufacturers and food product companies.

Warren Equity-backed Superior Industrial Maintenance Company (SIMCO) has acquired Maintenance Insulation Company (MICO), a Lancaster, South Carolina provider of corrosion protection and specialty industrial services. The acquisition expands SIMCO's service offering and regional footprint in the Mid-Atlantic and Southeast and is SIMCO's second add-on since Warren Equity Partners invested in the platform.

ForwardPMX, a Stagwell Group company, has acquired digital marketing firm The Search Agency. The acquisition expands ForwardPMX’s global capabilities and scale—bringing the combined group to more than 25 offices and over 1,000 marketing experts while integrating The Search Agency’s ~200 digital specialists and expertise in paid search, SEO and content.

FDH, a portfolio company of Audax Private Equity, has acquired BTC Electronic Components, a Wake Forest, North Carolina-based specialty distributor of high-performance connectors serving aerospace, military and industrial end markets. The acquisition is an add-on to FDH that expands its product offering into electronic connectors and strengthens its OEM and MRO capabilities.

VIRTEX Enterprises, an electronic manufacturing services (EMS) company backed by Insight Equity, acquired a majority of the assets of Precision Technology, Inc. (PTI), a single-facility EMS provider in Plano, Texas. The add-on expands VIRTEX's NPI, ultra-low-volume and flex/rigid-flex assembly capabilities and strengthens its presence in the Texas aerospace and defense corridor.

IZI Medical Products, LLC, a Shore Capital Partners-backed interventional radiology device platform, acquired RadioMed Corporation and its VISICOIL fiducial marker product family from IBA S.A. The purchase is an add-on to IZI’s portfolio—its fourth add-on in 24 months—and is intended to expand IZI’s imaging marker and interventional oncology offerings through RadioMed’s distribution channels and IZI’s direct sales force.

PLZ Aeroscience Corporation has acquired Liquid Technologies, Inc. from Frontenac Company. The deal expands PLZ’s personal care formulation and manufacturing capabilities and creates a broader national footprint for turnkey product development, formulation, filling and packaging services; financial terms were not disclosed.

An affiliate of Los Angeles-based private equity firm Triton Pacific completed the acquisition of 117 Pizza Hut restaurants (114 operating, 3 under development) and select real estate assets for about $80 million. The deal — executed by Triton Pacific’s operating platform Tasty Restaurant Group — expands the firm’s quick-service restaurant portfolio across Illinois, Kentucky, North Carolina, South Carolina, Tennessee, Virginia and West Virginia and was a buy of assets from Rage, Inc.

KDC/ONE, a Cornell Capital-backed custom formulator and manufacturer, entered into a definitive agreement to combine with HCT Group to create an integrated global provider of manufacturing and packaging solutions for the beauty and personal care industry. The transaction brings together complementary capabilities in formulation, design, manufacturing, filling and logistics, with existing ownership (Cornell Capital, CDPQ, Investissement Québec, HarbourVest) reinvesting alongside HCT management; specific financial terms were not disclosed.

AddSecure, a Sweden-headquartered provider of secure critical communications, has agreed to acquire the Stella Safety Phone business unit from Finnish provider Stella Kotipalvelut Oy; the deal was expected to close by the end of January 2020. The acquisition brings AddSecure into the telecare / smart care market, adding a certified alarm receiving center and products serving ~52,000 end-customers across more than 200 Finnish municipalities; AddSecure is majority-owned by Castik Capital, which backs the transaction.

Care Advantage, a Richmond-based home healthcare provider and portfolio company of BelHealth Investment Partners, has acquired Team Nurse Inc., a South Boston, Virginia home health and personal care provider operating 17 locations with over 400 caregivers. The add-on expands Care Advantage's footprint to more than 40 branch locations across Virginia, Maryland, Delaware and Washington, D.C., increasing regional density and coverage across roughly 90% of Virginia.

Carbon60, a PE-backed managed cloud services provider, has acquired Cirrus9, a Saint John, New Brunswick-based managed cloud and hosting provider, to establish an Atlantic Canada presence and create a national footprint. The deal, completed with support from advisor RBC, expands Carbon60’s managed public/private cloud, hosting and security capabilities for Canadian enterprise and public-sector clients.

Aspen Surgical Products, Inc., a PE-backed manufacturer of surgical disposables, has acquired Beatty Marketing & Sales LLP, a Redmond, Washington-based maker of orthopedic positioning products, sterile positioning kits and suture retrievers. The add-on expands Aspen's orthopedic disposables portfolio and increases its reach into hospitals and ambulatory surgery centers across North America.

Ampersand Capital Partners has acquired Peptides International and merged it into its existing portfolio company, New England Peptide, creating a combined provider of custom and catalog peptide synthesis services. The transaction is an add-on to Ampersand’s New England Peptide platform to expand scale, capabilities, and customer relationships across pharmaceutical, biotech and academic markets.

Wind Point Partners portfolio company Targeted PetCare has acquired sWheat Scoop, a manufacturer of 100% wheat-based biodegradable cat litter, from Farmers Union Industries. The add-on expands TPC's alternative cat litter offering and broadens its branded product portfolio to accelerate growth across retail and distribution channels.

InfraServ US, through its subsidiary Gateway Bobcat, completed the acquisition of Acme Operations, a Greenville, South Carolina–based Bobcat dealership group. The deal expands Gateway Bobcat’s footprint into the Southeastern United States, bringing the combined company to 17 locations across eight states; terms were not disclosed.

Shimtech Industries, a PE-backed aerospace components platform, has acquired Fastener Technology Corp. (FTC), a North Hollywood supplier of high-strength specialty fasteners for commercial and military aerospace customers. FTC will remain led by its existing management team and will integrate with Shimtech's aerospace divisions to expand manufacturing capacity and product offerings.

CIPHR, the LDC-backed HR software provider, has completed the acquisition of Marlow-based Payroll Business Solutions (PBS). The deal integrates payroll capability into CIPHR's platform and enables two new products—CIPHR Payroll and CIPHR Outsourced Payroll—expanding the group's payroll services and customer reach.

TurnPoint Services acquired Sunny Service Heating and Air Conditioning of Hurst, Texas on December 16, 2019. The acquisition is an add-on to TurnPoint's platform to expand its footprint into the Dallas–Fort Worth market while retaining Sunny Service's operational leadership and brand.

Temp-Con, a portfolio company of Caymus Equity Partners, has acquired Cobb Refrigeration LLC, a provider of commercial and laboratory refrigeration installation and maintenance based in Lenexa, Kansas. The add-on expands Temp-Con’s Midwest presence and enhances its refrigeration service capabilities.

Chicago-based NTI Connect LLC (PE-backed by ORIX Capital Partners) has acquired Vertical Communications Inc. (VERTICOM), a Dallas-based broadband network engineering and deployment company. The add-on expands NTI's wireless and fiber deployment capabilities and scales its operations across the South-Central United States.

VirTrial, a portfolio company of Kinderhook Industries, has acquired SnapMD to integrate its enterprise telemedicine platform into VirTrial's Virtual Care Management (VCM) offering. The acquisition is intended to bolster VirTrial's decentralized clinical trial (DCT) capabilities and expand virtual care features for sponsors, sites and patients; SnapMD will operate as a subsidiary of VirTrial.

Sterling Investment Partners’ portfolio company HeartLand, LLC acquired three commercial landscape and facilities services providers — Heritage Landscape Services, Landscape Concepts Management and Snowmen365 — expanding HeartLand’s footprint in Washington, D.C., Chicago and Kansas City. The acquisitions are add-ons to HeartLand’s multi-market platform as Sterling continues to grow the company since its initial investment in 2019.

Belcan, a portfolio company of AE Industrial Partners, acquired Base2 Solutions, a Bellevue-based provider of software and systems engineering consulting services, from Safran. The acquisition expands Belcan's digital systems and software capabilities and broadens its geographic footprint in major U.S. aerospace hubs. Terms were not disclosed.

CONET Technologies, a portfolio company of H.I.G. Capital, has agreed to acquire PROCON IT AG. The deal strengthens CONET's presence in southern Germany and expands its capabilities in SAP Business Intelligence, data intelligence, and cloud solutions; PROCON IT's management will remain in place.

FineLine Technologies, a provider of barcoded and RFID-integrated labels and tickets, has acquired Consolidated Printing, Inc. (CPI), a leading North American ticket manufacturer serving professional and collegiate sports and major entertainment venues. The deal—announced by FineLine's PE backers (L Squared Capital Partners and referenced growth investor Summit Partners)—extends FineLine's capabilities into event ticketing and RFID-enabled smart tickets as an add-on to its platform.

GI Alliance announced a partnership with GastroArkansas, bringing the Little Rock-based gastroenterology practice into GI Alliance's network and establishing the organization's presence in Arkansas. The deal adds 12 physicians and their staff to GI Alliance's platform as part of its targeted geographic expansion across the South-Central U.S.

Lincoln Road Global Management and Peninsula Capital Partners, through an affiliate, have partnered with Gold Coast Fire Protection (Fort Myers, FL) and Florida Fire Systems to bring both companies into the Republic Fire Protection platform. The acquisitions expand Republic's regional coverage across Florida and the Southeast while keeping the target companies' leadership and operational autonomy in place.

Albireo Energy, the building automation and energy services platform backed by Huron Capital, has acquired Quality Building Controls (QBC), a Tampa-based provider of building automation systems and repair and maintenance services. The deal is an add-on to Albireo's platform that expands the company's presence in the Southeast, adds recurring service revenue, and retains QBC's management with founder Jerry Dohse remaining in a business development role.