Add-on Acquisitions in 2022

Hilb Group has acquired West Chester, Pennsylvania-based Oak Ridge Surety Agency, effective December 30, 2022. The small surety-focused agency will join Hilb’s Mid-Atlantic operations and integrate with Wayne, Pennsylvania-based Wharton Surety Consultants to expand Hilb’s surety capabilities and regional presence.

P1 Service Group, a portfolio company of Edgewater Growth Capital Partners, has acquired Sky Heating, AC, Plumbing & Electrical, a Portland-area residential HVAC, plumbing and electrical services provider. The acquisition expands P1's platform into the Pacific Northwest; Sky's owner and president Travis Smith will continue to lead the business and remain a shareholder.

Bridgepointe Technologies, backed by Charlesbank Capital Partners, has acquired PPT Solutions to expand its customer experience (CX) consulting and contact-center capabilities. PPT Solutions — a CX and contact-center consulting and managed services provider with ~55 employees — will operate as a Bridgepointe company to broaden Bridgepointe's tech advisory and managed services offering.

SMA Technologies, a Houston-based provider of OpCon workload automation and a portfolio company of Thoma Bravo, has acquired VisualCron, a Sweden-based automation, integration and task-scheduling tool for Windows. The acquisition (terms undisclosed) expands SMA’s product portfolio to address smaller organizations, increases its global customer base and advances its automation capabilities following Thoma Bravo’s strategic investment in SMA.

Integrative Life Network (ILN), a family of trauma-focused treatment programs based in Nashville, has acquired New Mexico-based Shadow Mountain Recovery Programs. The acquisition expands ILN’s geographic footprint into the Southwest and adds multiple Shadow Mountain sites offering detox, residential (gender-specific), intensive outpatient and outpatient services that are in-network with major insurers.

L Catterton's Latin America fund led a $70 million financing round in Razor Group to support Razor’s global roll-up strategy. As part of its international expansion, Razor Group acquired VALOREO, a Latin America-focused e-commerce holding with operations across Mexico, Brazil and Colombia.

Flourish Research, an NMS Capital portfolio company, has acquired Suncoast Research Group, a multi-therapeutic clinical research site based in the Little Havana neighborhood of Miami, Florida. The founders and current management will remain in place; terms were not disclosed. The deal expands Flourish's integrated clinical site network and increases access to diverse patient populations in the Florida market.

Smart Care, a Wind Point Partners–backed platform, has acquired Refrigeration Anytime, a Manor, Texas–based commercial refrigeration and HVAC repair provider. The add-on expands Smart Care’s Climate Solutions presence in Texas, marking the platform’s third Texas acquisition and eighth since partnering with Wind Point.

Resource Innovations, a women-led clean energy transformation firm and portfolio company of BV Investment Partners, has acquired Connecticut-based e-commerce and customer engagement company TechniArt. The add-on expands RI's digital and e-commerce capabilities to help utilities drive adoption of energy-efficient and electrification measures through improved customer engagement and program delivery.

Integrated Polymer Solutions, a portfolio company of Arcline Investment Management, has acquired AkroFire, a designer and manufacturer of elastomeric fire seal solutions and cargo bay repairs serving business jet, commercial aerospace, and defense markets. The acquisition is an add-on to IPS intended to expand its aerospace sealing and engineering capabilities and scale production for OEM customers.

Keyes Coverage, a Tamarac, Florida-based independent insurance agency and Platform Partner of Keystone Agency Partners, has acquired Amsley Insurance and Parkland Insurance Marketing to expand its geographic footprint across Florida. Financial terms were not disclosed; the deals add Amsley's Greater Orlando presence (St. Cloud/Kissimmee) and Parkland's sports and entertainment-focused offering to Keyes' platform.

Andra Tech Group, a Netherlands-based precision parts group majority-owned by Equistone Partners Europe, has acquired Mayer Feintechnik GmbH, a Göttingen-based specialist in precision metal components. The deal (an add-on to the Andra Tech platform) expands ATG's presence into Germany and strengthens capabilities in cleanroom assembly and small-to-medium batch manufacturing; former majority shareholder and CEO Frank Neuschulz sold his stake and will reinvest in the combined group.

Ingenovis Health, a PE-backed, technology-enabled healthcare talent platform, has acquired Springboard Healthcare, a specialized cardiovascular travel staffing and education provider. The acquisition strengthens Ingenovis' portfolio of clinician staffing and education capabilities and positions Springboard to pursue strategic growth with access to Ingenovis' resources.

Chemical Computing Group ULC (an Altaris operating company) has acquired Paris-based Discngine SAS, a provider of cheminformatics, structural bioinformatics and lab informatics software and services for life sciences research. The deal will add Discngine as a subsidiary of CCG, bolstering CCG's technical science capabilities and creating synergies across their life-sciences software offerings.

Cox Transportation Services has acquired Outwest Express, a Texas-based truckload carrier specializing in Mexican cross-border logistics, adding more than 400 tractors and 1,200 trailers to Cox's network. The deal was completed alongside a majority recapitalization of Cox led by Expedition Capital Partners and Prudential Private Capital to support continued platform growth.

CC Wellness, a Catalus Capital portfolio company and FDA‑licensed manufacturer based in Santa Clarita, California, has acquired the liquid product line of the Shibari personal lubricant brand. The add‑on deal (terms undisclosed) expands CC Wellness’s consumer intimate‑wellness portfolio and aims to grow Shibari’s e‑commerce and specialty‑retail presence while bringing manufacturing in‑house.

EQT Infrastructure is combining its portfolio ferry companies Molslinjen and Torghatten to launch Nordic Ferry Infrastructure (NFI), a pan‑Nordic ferry platform headquartered in Oslo. The combined group will operate more than 65 routes with over 100 vessels and transport roughly 16 million passengers annually, while EQT continues to invest in fleet decarbonization and electrification; the launch follows a recent add‑on acquisition of ForSea to expand the platform's footprint.

Ringbeck, a portfolio company of AURELIUS Growth Investments, has acquired Klaus Hildebrandt AG, a Berlin-based gardening and landscaping contractor specialising in complex green roofing installations. The deal is an add-on to the Ringbeck-Group (its fifth in under two years), expands the group's presence in northern and eastern Germany, and keeps the target's management team as minority shareholders.

IT Voice, a multi-location MSP and portfolio company of Baymark Partners, has acquired (b:ok) Network Infrastructure Services LLC (also known as Bytes of Knowledge), a longtime MSP based in Nashville, Tennessee. The transaction, advised by Viking Mergers & Acquisitions, is an add-on to expand IT Voice's regional footprint and capabilities while preserving the target's management legacy.

The Hilb Group, a Richmond-based property & casualty and employee benefits brokerage backed by The Carlyle Group, acquired Alpharetta, Georgia-based Gillman Insurance Problem Solvers (including affiliates APA Insurance Services and 3G Truckin' Insurance), effective December 1, 2022. The deal expands Hilb Group's Southeast U.S. presence and deepens its P&C expertise; Ed Gillman and his team will join Hilb's Southeast regional operations.

Duke's Root Control, a Comvest Partners-backed platform, has acquired Pipetek Infrastructure Services, a Midwest-based sewer, utility and underground infrastructure services provider headquartered in Plymouth, Michigan. The add-on expands Duke's inspection, assessment and repair capabilities and extends its geographic footprint into the Midwest and into gas and water utility markets.

Power Grid Components, Inc., a Shorehill Capital portfolio company, completed the acquisition of Meister International in November 2022. The add-on transaction expands Power Grid’s distribution of high- and medium-voltage insulators, bushings and related utility hardware and broadens its national product and customer reach; terms were not disclosed.

ACTICO, a BU (Bregal Unternehmerkapital)-backed provider of intelligent automation software, has acquired a majority interest in Fact Informationssysteme und Consulting GmbH, a Neuss-based provider of investment-management software and consulting previously part of Software AG. The deal strengthens ACTICO’s RegTech platform for banks, insurers and other financial services providers by combining ACTICO’s automation and decisioning software with Fact’s specialist investment-administration and reporting capabilities.

Appvion, a portfolio company of Wynnchurch Capital, has acquired Decorative Films, LLC, a Frederick, Maryland-based manufacturer of adhesive decorative, privacy, and functional window films. The add-on expands Appvion's engineered media and film solutions platform, broadening its product portfolio for commercial, residential and automotive end markets.

Service Champions Group, a PE-backed home services platform, has agreed to acquire locally owned M and M Heating, Cooling, Plumbing & Electrical of Longmont, Colorado. The add-on strengthens Service Champions' footprint in the greater Denver market and expands its residential and commercial HVAC, plumbing and electrical capabilities.

DISA Global Solutions, a portfolio company of Audax Private Equity, has acquired Global HR Research (GHRR) from Renovo Capital. The add-on strengthens DISA's employee screening, testing and compliance capabilities and expands its presence in end markets including healthcare, manufacturing and education; financial terms were not disclosed.

Certified Group, a PE-backed North American laboratory testing and regulatory consulting provider, announced an investment in the Knoxville, Tennessee hemp and CBD testing laboratory business of Kaycha Labs. The facility will operate under the Labstat name and expands Certified Group's hemp/CBD testing capabilities in the U.S., complementing its existing food, cosmetics and supplement testing services.

gWorks, a GovTech software provider backed by BV Investment Partners, acquired Softline Data and PubWorks to expand its suite of local government software solutions and broaden geographic coverage. The acquisitions combine utility billing, meter reading, public alert, work and operations management, and fleet maintenance capabilities under the gWorks brand to better serve small and medium-sized local governments across the United States.

Fi-Foil Company, a portfolio company of Validor Capital, has acquired Kennedy Insulation Group, a Carthage, Missouri-based maker of the VerSola™ reflective bubble insulation. The acquisition expands Fi-Foil’s reflective insulation product line and U.S. manufacturing and geographic sales coverage across the southwestern and southeastern United States; terms were not disclosed.

Right Time Group of Companies acquired Waterloo-based Dunn Heating ClimateCare (now operating as Dunn Heating and Air Conditioning). The small, residential HVAC business founded in 1973 will join Right Time's network (a Gryphon Investors-backed platform) as management, including former owner Rick Dunn, remain with the business; terms were not disclosed.

Rainier Industries, a portfolio company of LFM Capital, has acquired Eclipse Shading Systems, a Middletown, New York manufacturer of retractable awnings and solar shades. The add-on acquisition is intended to expand Rainier's East Coast production footprint, optimize manufacturing processes, and broaden dealer reach across the United States; financial terms were not disclosed.

B2B Industrial Packaging, a GenNx360 Capital Partners portfolio company, has acquired Oak Paper Products Company, Inc., a Los Angeles-based distributor of corrugated paper products and related specialty divisions. Oak Paper’s existing ownership and management will remain active investors and operators while the business gains access to B2B Industrial Packaging’s nationwide distribution network and resources as a platform add-on.

LUV Car Wash has acquired The Autowash Group, a family-owned operator of eight car wash locations in the greater Philadelphia area, marking LUV’s entry into Eastern Pennsylvania and New Jersey. The acquisition supports LUV’s plan to grow to 20–25 locations in the region over the next 18–24 months as part of its nationwide expansion.

Fortis Solutions Group LLC, a portfolio company of Harvest Partners, acquired Cinton, Inc. (d/b/a West Coast Labels), a Placentia, California-based pressure-sensitive label printer. The acquisition expands Fortis’s presence in the Los Angeles market and broadens its digital and flexographic label printing capabilities; terms were not disclosed.

Evertree Insurance, a technology-enabled personal lines insurance distribution platform backed by Integrum Holdings, has acquired Gnade Insurance Group, a 27-person independent agency based in Frankfort, Illinois. The acquisition brings Gnade's ~4,600 clients and 20+ carrier appointments onto the Evertree platform as an add-on to expand distribution and deploy Evertree's tools and technology.

JoyBridge Kids, a portfolio company of Frontline Healthcare Partners, has acquired Independence Behavior Solutions, an applied behavior analysis (ABA) therapy provider based in Savannah, Georgia with two locations. The deal expands JoyBridge's clinical footprint into Georgia — bringing the platform to five clinics across Tennessee and Georgia — and supports the company's regional growth strategy to increase access to ABA therapy in the Southeast.

HighGround Restoration Group, a Trivest Partners portfolio company, has acquired Rocky Mountain Restoration, a Mesa, Arizona-based property damage restoration firm. The transaction expands HighGround’s service footprint in the Phoenix metro area and adds water, mold, fire and trauma/biohazard cleanup capabilities to its national restoration platform.

Class Valuation, a Troy, Michigan-based appraisal management company, has acquired Property Val, LLC, a Freeport, Maine appraisal management/residential appraisal firm. The acquisition expands Class Valuation’s presence and appraisal capacity in Maine and the New England market and bolsters its regional appraisal panel and market-data capabilities.

Velocity Clinical Research, a GHO-backed integrated research site organization, has acquired Meridian Clinical Research for an undisclosed amount. The deal creates the largest dedicated clinical research site organization globally (about 80 sites), expands Velocity's U.S. footprint to 25 states and adds Meridian's network of 35+ sites and experienced investigators and staff.

Executive Home Care Holdings, a Riverside-backed holding company, acquired Grasons Co., an Orange County-based estate sale and business liquidation franchisor. The deal is an add-on to the Executive Home Care platform intended to expand the platform's senior services offering and pursue geographic expansion of Grasons' franchise footprint.

Smart Care, a Wind Point Partners portfolio company, has acquired Finley's Facilities Services, a family-owned commercial kitchen equipment repair business based in Mt. Gilead, Ohio. The deal expands Smart Care's Equipment Solutions footprint in Ohio and strengthens its emergency repair, preventative maintenance and installation capabilities across hot- and cold-side kitchen equipment, refrigeration and HVAC.

LP First Capital and Trive Capital partnered with an experienced management team to form Cascade Services, a residential tri-trade platform focused on HVAC, plumbing and electrical contractors. Cascade has completed four Florida acquisitions — Mid-Florida Heating and Air, Aztil Air Conditioning, Extreme Air & Electric, and Air Boca — as part of a platform-build strategy to pursue add-on opportunities across the Southern United States.

Pearlman Group, a portfolio company of The Stephens Group, acquired Advantage Marketing, Inc. (dba Advantage Experts in Clean), a Midwest distributor of professional cleaning and restoration chemicals, supplies, and equipment. The Bonwell family will continue to lead Advantage in partnership with Pearlman; terms were not disclosed. The deal expands Pearlman's specialty distribution footprint and service/education capabilities in the Midwest.

Sunvera Group, a Michigan-based management services organization and portfolio company of Ridgemont Equity Partners, has formed a partnership with Ophthalmic Physicians Incorporated (OPI) and its affiliates — Lasik Vision Centers of Cleveland and Surgical Care Center in Painesville, Ohio. The agreement expands Sunvera's Midwest / Ohio footprint and brings OPI's clinical practice and ambulatory surgery capabilities into Sunvera's network of ophthalmology practices and ASCs.

Verso Wealth Management, a portfolio company of Cairngorm Capital, has acquired Heritage Independent Financial Advisers Limited to expand Verso's presence in the Midlands. Heritage, founded in 2003 and based in Knowle, West Midlands, has a team of 17 and provides specialist financial advice to high-net-worth individuals, families and corporate clients.

Anne Arundel Dermatology Management, a Ridgemont Equity Partners-backed dermatology platform, announced new affiliations with North Atlanta Dermatology, SkinPath Solutions, and the Dermatology Institute for Skin Cancer and Cosmetic Surgery in Georgia. The additions expand the Anne Arundel platform’s footprint in the Greater Atlanta area and add dermatopathology lab capability, bringing the platform closer to ~150 locations and 300 providers across seven states.

Ty J. Young Wealth Management acquired the insurance and wealth advisory practice of Michael R. Martin in Reidsville, North Carolina, in a deal that closed in November 2022. The acquisition brings Mr. Martin's clients into Ty J. Young's platform as the advisor retires and expands the firm's presence in North Carolina.

Fort Lauderdale-based Chen Moore and Associates has acquired Jupiter, Florida-based NZ Consultants in a 100% acquisition that expands Chen Moore's planning services and establishes a satellite office in Jupiter. The deal increases the firm's statewide headcount to about 120 employees and brings NZ Consultants' principal Nilsa Zacarias, AICP, into Chen Moore as Director of Planning.

Verso Wealth Management, a Cairngorm Capital-backed wealth management platform, has acquired IEP Financial Limited, a Hove-based financial advice firm with 34 staff and £525m of advised assets. The add-on expands Verso’s presence across the South East and increases group AUM to over £1.8 billion as part of Verso’s continued buy-and-build strategy.

InflowCX, a Renovus Capital Partners-backed provider of contact center advisory, consulting and managed services, has acquired Atlanta-based BPO Partners to expand its contact center consulting, outsourcing and technical services capabilities. The deal is an add-on to InflowCX's platform and is intended to accelerate the combined firm's ability to serve enterprise and mid-market clients with CX, contact center technology and outsourcing strategy services.