Add-on Acquisitions in 2021

Relation Insurance Services acquired the assets of Kamm Insurance Group, Inc., effective December 31, 2021; terms were not disclosed. The deal creates a new "Great Lakes region" business unit to expand Relation's presence in Chicagoland and the broader Great Lakes area, with Bill and Adam Kamm remaining in leadership roles.

MCE (Motion & Control Enterprises) has acquired RSA, Inc. and Global Controls, Inc., a St. Charles, Illinois-based distributor of robotics, motion control, vision systems and a systems integrator serving industrial end-users and OEMs across the upper Midwest. The deal is MCE’s fourth acquisition and acts as an add-on to expand its motion control and automation product and systems-integration capabilities, supported by Frontenac, the Chicago-based private equity firm referenced in the announcement.

Great Expressions Dental Centers, a portfolio company of Roark Capital, acquired Amazing Dental Group, a Michigan-based dental services organization with four locations in the Detroit metro. The transaction closed on December 30, 2021, and Amazing Dental founders Dawsar Najor and Dr. Nawras Najor will join Great Expressions in leadership roles to support continued growth and integration.

HeartLand, a portfolio company of Sterling Investment Partners, acquired four commercial landscape and facilities services providers: Landscape Services, Inc. (LSI), Sharp's Landscaping, Total Environment, Inc., and Merit Service Solutions. The add-on deals expand HeartLand's geographic footprint across multiple U.S. markets as part of a roll-up strategy (this marks HeartLand's 13th acquisition since Sterling invested in August 2019).

Waterlogic, the PE-backed global water dispenser designer and service provider, has acquired Aquamaq, a Bogota-based point-of-use (POU) water dispenser business. The deal expands Waterlogic's Colombian footprint, adds Aquamaq's blue-chip customer base across 131 cities and towns, and brings a 23-employee local team into Waterlogic's platform-driven buy-and-build strategy.

Funds advised by Apax Partners LLP (the Apax Funds) are backing the merger of Herjavec Group and Fishtech Group to create a combined cybersecurity services company. The new, PE-backed entity will combine complementary managed detection & response (MDR), co-managed SIEM, identity and professional services capabilities and will be led by Robert Herjavec as CEO with Gary Fish as Chairman; financial terms were not disclosed.

Midwest Products & Engineering (MPE INC), a portfolio company of healthcare-focused private equity firm BPOC, has acquired Racine Metal-Fab (RMF), a precision sheet metal fabricator. The add-on expands MPE's light-gauge stamping, fabrication and assembly capabilities to better serve medical device and technology OEM customers.

Vision Innovation Partners, a Centre Partners‑backed eye care platform, has acquired Advanced Eye Care, a comprehensive ophthalmology practice with an onsite med spa in Bel Air, Maryland. The add-on expands Vision Innovation Partners' Mid‑Atlantic footprint and enhances its network of practices and surgery centers.

Express Wash Concepts (EWC) acquired three Bee Clean Express Car Wash locations in Zanesville and Cambridge, Ohio (one location is currently under construction). The deal expands EWC's footprint to 57 operating locations and adds the Bee Clean brand to its portfolio as an add-on to its PE-backed platform.

XLerate Group, backed by Brightstar Capital Partners, has completed the acquisition of America's Auto Auction (AAA) and affiliated financier Auction Credit Enterprises (ACE) from Trinity Hunt Partners and its co-investors. The deal, closed December 30, 2021 for undisclosed terms, combines physical and digital remarketing capabilities and financing services to create a larger nationwide vehicle remarketing platform operating across roughly 39 auction sites in 19 states.

Dobbs Equity Partners, through its holding Dobbs Family Automotive, acquired Papa's Dodge, Inc. (dba Papa's Chrysler Dodge Jeep Ram) in a transaction that closed on November 5, 2021. The acquisition adds the New Britain, Connecticut dealership to Dobbs' portfolio of franchise automobile dealerships as an add-on to its existing platform.

Dallas-based Access Dental Management LLC, backed by Surge Private Equity LLC, has acquired Bridget R. Burris, D.D.S., P.C., a multi-million dollar dental practice in Las Cruces, New Mexico. The deal closed with debt financing from Corbel Capital Partners and marks Access Dental's entry into New Mexico as its fifth add-on of 2021.

R/W Specialties, a portfolio company of Strength Capital Partners, completed the purchase of assets and merged operations of America Building Products (ABP). The acquisition expands RW's specialty building-products distribution footprint by adding ABP's millwork, pre-hung door capabilities and product offerings across the Midwest, enabling operational synergies and broader service coverage.

PTC Alliance LLC, a portfolio company of Black Diamond Capital Management, has acquired Metal‑Matic, Inc., a manufacturer of welded and drawn over mandrel (DOM) carbon steel tubing. The deal, which closed December 29, 2021, adds Metal‑Matic’s four production facilities and more than 500 employees across Minnesota, Illinois and Ohio to PTC Alliance’s operations.

Fenix Parent LLC (operating as Fenix Parts) has completed its acquisition of the assets of All Foreign Used Auto Parts, Inc. in Columbus, Ohio. The deal marks Fenix's first acquisition in the Midwest as it expands production capacity and its regional footprint; Fenix is PE-backed by Stellex Capital Management LLC.

Physical Rehabilitation Network (PRN), a Gryphon Investors-backed physical therapy practice management platform, acquired Bonney Lake Physical Therapy & Hand Rehab, an outpatient clinic in Bonney Lake, Washington. The clinic becomes PRN's 22nd location in Washington as PRN expands its regional footprint and augments its hand and outpatient therapy capabilities.

Nichols Portland, Inc., a portfolio company of Altus Capital Partners, acquired the assets of Alpha Precision Group, LLC (APG). APG is a diversified metal-forming manufacturer (powder metallurgy, metal injection molding, additive manufacturing and precision valve assemblies) headquartered in St. Marys, Pennsylvania, with five plants across Pennsylvania and Michigan and over 400 employees; financial terms were not disclosed.

Golden Bear Physical Therapy, a portfolio company of Shore Capital Partners, acquired Cleburne Physical Therapy & Sports Rehabilitation (dba Real Performance Physical Therapy) in a deal that closed December 28, 2021. The acquisition adds the Cleburne and Burleson, Texas outpatient clinics to Golden Bear's growing network of rehabilitation and physical therapy practices.

Convenient Brands, a Draper, Utah-based platform and portfolio company of private investment firm The Beekman Group, has acquired ROME Technologies of Pasadena, Maryland. The deal brings ROME's collision-center management software, consulting and payments integration (ROMEPay) into Convenient Brands' automotive repair technology platform; founder Scott Rome retired and James Rome was promoted to president. Convenient Brands said it will support ROME with additional sales, marketing and product development resources.

Comar, a specialty medical-device and packaging manufacturer majority-owned by Morgan Stanley Capital Partners, has acquired Omega Packaging, a La Mirada, California-based maker of injection- and blow-molded closures and jars. The deal—backed by Morgan Stanley Capital Partners and financed by Golub Capital Credit Opportunities with participation from Brightwood Capital and Everberg Capital—expands Comar's rigid packaging portfolio, adds child-resistant and continuous-thread closure capacity, and brings precision mold-making capabilities to its platform.

Keter Environmental Services, a PE-backed national recycling and waste management platform, has acquired Atlanta-based M-PASS Environmental, a provider of waste management and recycling solutions. The acquisition strengthens Keter's service capabilities and expands its geographic and industry coverage; financial terms were not disclosed.

Inframark, a water and wastewater operations company backed by New Mountain Capital, has acquired MR Systems, a provider of automation and cybersecurity solutions for municipal water and wastewater facilities. The acquisition expands Inframark's automation, SCADA and cybersecurity capabilities and brings MR Systems' skilled workforce and Eastern U.S. footprint into Inframark's platform.

EP Wealth Advisors, an RIA based in Torrance, California, acquired a Kirkland, Washington-based advisory team led by Todd Flynn and John Buller (four advisors and three staff), expanding EP Wealth’s presence in the Puget Sound to five Washington locations. The deal closed Dec. 28, 2021, and added more than $482 million in assets under management; financial terms were not disclosed.

Data Network Services, a Virginia-based managed service provider backed by Cloud Equity Group, has acquired Datacom Specialists, an Ohio-based managed service provider serving small- and medium-sized businesses. The deal is DNS’s first add-on since CEG’s December 2020 investment and is intended to expand DNS’s service offerings and client footprint; financial terms were not disclosed.

LUV Car Wash, a Susquehanna Private Capital‑backed express car wash platform, closed five separate deals to acquire 20 car wash locations across Florida and Georgia. The acquisitions were completed from Shiny Shell, Sporty's, Jeff's Express, Rocket Express and Hi‑Speed Car Wash as LUV debuts its initial Southeast footprint.

Indianapolis-based private equity firm CID Capital’s portfolio company, ProSource, LLC, has acquired Marion Davis, Inc., a two-location plumbing, lighting and electrical supplier in Upstate South Carolina. The add-on expands ProSource’s plumbing and lighting capabilities and brings electrical supplies into its product assortment; Marion Davis will be rebranded to ProSource after a transition period.

Pacteon, a portfolio company of GenNx360 Capital Partners, has acquired ESS Technologies, a provider of carton and packaging line design, equipment manufacturing, integration and automation solutions. The acquisition expands Pacteon's packaging line integration capabilities and strengthens its presence in the pharmaceutical, diagnostic and cosmetic end markets.

Markerstudy Group has agreed to acquire Lloyd's broker Clegg Gifford, subject to regulatory approval. The deal brings Clegg Gifford's Lloyd's access and motor-trade specialism into Markerstudy's digitally-led insurance platform, with founder Roy Clegg set to retire and Toby Clegg remaining as CEO of the business.

Zone Climate Services, a Wind Point Partners-backed platform, has acquired Total Line Refrigeration, a family-owned commercial refrigeration and HVAC services provider based in Cleveland, Ohio. The add-on expands Zone’s Midwest footprint into Ohio and broadens its end-market coverage in food service, grocery/retail and commercial kitchen customers.

King Insurance, a Gainesville, Florida-based full-service insurance brokerage, acquired Piedmont Insurance Associates, an independent insurance agency with offices in Covington and Newnan, Georgia. The acquisition is King's first expansion outside Florida and continues its roll-up strategy following a partnership with investor BHMS Investments, LP.

Tempo Software, a PE-backed provider of time, resource and portfolio management solutions, has acquired ALM Works, the developer of the Structure for Jira project and portfolio management suite. The deal expands Tempo's strategic portfolio management capabilities by combining ALM Works' project-structuring tools with Tempo's time and capacity management products as an add-on to its platform.

PCI has acquired the IT activities of Rosenboom in Almere, adding an experienced small IT team to its IT Solutions offering. The move is an add-on to strengthen PCI's IT capabilities and broaden its service depth as part of its buy-and-build strategy.

The Mather Group (TMG), a family- and employee-owned wealth management firm, has acquired Nashville-based registered investment adviser Eugenias Advisory Group (EAG). EAG manages more than $162 million in AUM with a five-person team and will continue operating from its Nashville office as TMG expands its national footprint.

3Phase Elevator has merged with Gable Elevator, adding the Cleveland/Columbus-based elevator maintenance, repair and modernization business to its platform. The transaction expands 3Phase’s presence into Ohio; terms were not disclosed and the existing Gable leadership team will remain in place while founder Rick Gable retires.

ARES, a leading Romanian interventional cardiology operator controlled by Highlander Partners, has acquired Cardiomed Cluj to create an integrated cardiology platform in Cluj-Napoca. The deal brings Cardiomed’s large outpatient and imaging capabilities into the ARES network to expand early diagnosis, imaging and interventional cardiology services; Cardiomed founder Dr. Carmen Mureșan will continue to lead the business.

PotlatchDeltic Corporation merged with Loutre Land and Timber Company, issuing 1.96 million shares of common stock and assuming $6.6 million of debt in exchange for Loutre's 51,340 acres of timberlands in southern Arkansas and northern Louisiana. The transaction is a bolt-on acquisition that expands PotlatchDeltic's timberland footprint and is expected to increase stable cash flows and support dividend growth.

A&A Global Imports, LLC dba marijuanapackaging.com (a Boyne Capital portfolio company) has acquired Aphecal Enterprises, Inc. dba 420packaging.com, a supplier of packaging products and ancillary goods to the medical and recreational cannabis market. The add-on purchase expands A&A's e-commerce product assortment (including IP for the Squeezetops brand) and broadens its reach across cannabis packaging channels.

Baton Rouge-based managed services provider General Informatics has acquired Unicom Technologies, a Texas-based MSP focused on banking, credit union and financial-services customers. The acquisition, advised by FOCUS Investment Banking and backed by Rosewood Private Investments, expands General Informatics' geographic footprint in Texas and strengthens its financial-services vertical capabilities.

ADM has acquired Flavor Infusion International, S.A. (FISA), a provider of flavor and specialty ingredient solutions serving customers across Latin America and the Caribbean. The bolt-on deal adds two manufacturing facilities in Panama and Colombia and a team of approximately 60 employees to ADM's Nutrition/Flavors business to expand capabilities and accelerate growth in the high-value flavors segment in the region.

National Convenience Distributors, LLC (NCD) has acquired Century Distributors Inc., a Rockville, Maryland-based full-line wholesale distributor to convenience and grocery stores. Century will join NCD as a newly created division to expand NCD's Mid-Atlantic footprint and realize operational and go-to-market synergies; financial terms were not disclosed.

Summit Fire & Security, a subsidiary of SFP Holding (Summit Companies), has acquired Blue Flame Fire Protection, a Jacksonville, Florida-based fire and life-safety services provider. The acquisition expands Summit Fire & Security's presence and service capabilities in the Jacksonville market as part of its Florida growth strategy.

Express Wash Concepts acquired three Snazzy's Express Car Wash locations — two in Richmond, Indiana and one in Mason, Ohio — effective December 22, 2021. The deal expands Express Wash Concepts' express car wash portfolio to 54 operating locations; the acquired sites will be temporarily closed for renovation and converted to the company's Flying Ace brand.

Industry 4.0 Fund, the private equity vehicle of Quadrivio Group, has acquired a majority stake in Soft N.W. S.p.A., an Italian manufacturer of spunbonded polypropylene nonwoven fabrics. The transaction aims to consolidate Soft N.W. with Quadrivio's existing nonwovens platform (Texbond S.p.A.), support international expansion and product development, and strengthen the company’s management while pursuing digitalization and market consolidation.

Atlanta-based private equity firm Crown Capital Investments has acquired the JRT agency, a Farmington Hills, Michigan digital-first marketing agency, and its sister company CG Detroit, a branded graphics and production provider. The acquisitions expand Crown Capital's marketing solutions portfolio and are expected to create synergies with existing portfolio company H&W Solutions to enhance consumer engagement and fulfillment capabilities.

RoadOne IntermodaLogistics, a portfolio company of Nonantum Capital Partners, has acquired EHS Trucking Enterprises, a regional trucking provider based in Brownstown Township, Michigan. Kreshmore Group advised EHS on the transaction, which closed December 22, 2021; financial terms were not disclosed.

AccessOne, a Frontier-backed provider of Care Now, Pay Later patient financing solutions, has acquired CueSquared, a mobile-native one-touch payment platform that simplifies patient self-pay collections. The acquisition expands AccessOne's patient financial engagement capabilities by adding mobile billing and payment technology proven to accelerate payments, increase self-pay revenue and reduce collection costs for healthcare providers.

Corbett Technology Solutions, a portfolio company of Wind Point Partners, has acquired Star Asset Security, a systems integrator and managed services provider headquartered in Orlando, Florida. The add-on deal expands CTSI's physical and cyber security integration footprint across the south and central United States and strengthens its managed security and monitoring capabilities through Star's ION247 Center of Excellence.

DAS Health Ventures, a Sheridan Capital Partners-backed healthcare IT platform, has acquired Itentive, LLC, a health IT consultancy and value‑added reseller that provides consulting, managed services and proprietary solutions to physician practices and hospitals. The add‑on expands DAS Health’s MSP footprint, deepens EHR/PM relationships and broadens its consulting and managed services capabilities across healthcare provider customers.

ZRG, a PE-backed global talent advisory firm, has acquired London-based executive search firm Walter James to expand its supply chain and life sciences recruiting capabilities and inherit the Euromedica brand. Walter James CEO James Absalom will join ZRG as Functional Global Leader of Supply Chain, and ZRG expects the acquisition to accelerate end-to-end talent support for its clients globally.

Mammoth Holdings, LLC has acquired Wasatch Express Car Wash, a one-unit express car wash operator in West Jordan, Utah; the Wasatch Express owners also made equity investments in Mammoth. The deal expands Mammoth's footprint in Utah (bringing its total to six stores in the state) and supports its planned regional growth pipeline.