Buyout Acquisitions in 2016

Seeman Holtz Property & Casualty, Inc. acquired National Insurance Solutions, Inc. (Chatsworth, CA) and JMD Insurance (Stuart, FL), bringing their sales, management and customer service teams into Seeman Holtz. The transactions expand Seeman Holtz's geographic footprint and client base in California and Florida and strengthen its commercial multi-family and personal lines capabilities.

Advanced Integration Technology (AIT) announced an investment to acquire Nova-Tech Engineering, a Lynnwood, Washington-based designer and integrator of aerospace assembly automation, materials handling and friction-stir welding equipment. Nova-Tech will operate as a distinct business line within AIT, expanding AIT’s aerospace automation capabilities and international footprint; financial terms were not disclosed.

Seattle-based private equity firm Westward Partners LLC has acquired OSW Equipment & Repair, a Snohomish, Washington manufacturer and repairer of Class 8 dump truck bodies and truck body assemblies. The investment will provide OSW with capital and operating expertise to expand manufacturing capacity and pursue growth into new markets across the West Coast.

Coalfire has acquired Veris Group, a provider of cyber risk advisory, compliance assessment, technical testing, and security engineering services, to broaden its cybersecurity capabilities. The deal was funded in part by new equity investments from The Carlyle Group and affiliates of The Chertoff Group (with Baird Capital noted as a partner), positioning the combined business as one of the largest providers of cyber risk, FedRAMP, and payment-card assessment services.

Lynwood Capital Partners has acquired Rocket Seals, Inc., a Denver-based distributor of seals and O-rings, in partnership with Rocket's existing management team. The private equity firm plans to support the company's growth—both organically (expanding inventory and sales technicians) and through acquisitions of other industrial parts distributors.

Elite Restaurant Group has agreed to acquire Slater's 50/50, including six restaurants and the brand's intellectual property, from founder Scott Slater. The deal, expected to close in February, will see Scott Slater step down as president and remain on as an advisor while the buyer plans renovations, company-owned expansion and a franchising program to grow the brand beyond Southern California.

Nexonia and Tallie announced a merger to combine their time and expense management platforms, creating a leading independent provider of cloud-based expense and time tracking solutions. The combined company will operate across offices in Canada and the United States and aims to expand product capabilities and integrations with major ERPs and accounting platforms.

Camping World Holdings Inc. has agreed to acquire Ketelsen Campers of Colorado, a Wheat Ridge-based RV dealership, as part of its new “side by side” strategy to add dealerships in existing markets. The deal is intended to grow Camping World’s market share and distribution points in Colorado while Ketelsen Campers will continue operating under its legacy name.

Commercial Metals Company’s wholly owned subsidiary, CMC Steel Fabricators, Inc., acquired substantially all assets of Continental Concrete Structures, Inc., a fabricator of post-tensioning cable and provider of design/value engineering services based in Alpharetta, Georgia. The acquisition expands CMC’s concrete reinforcing capabilities by adding post-tensioning cable production (capacity ~4 million feet annually) and engineering services to its existing rebar fabrication and steel products offerings.

Specialty Program Group (SPG), a holding company for specialty insurance brokers and underwriting facilities, has acquired the assets of Traverse City-based Global Marine Insurance Agency. Global Marine, a national brokerage focused on boats, yachts, marinas and commercial marine vessels, will join SPG’s specialty insurance platform; terms were not disclosed.

Vaco’s healthcare IT division acquired Pivot Point Consulting (Seattle) and Greythorn (Bellevue, WA) and combined them into Pivot Point Consulting, a Vaco company, expanding Vaco Healthcare’s EHR implementation, training, optimization and advisory capabilities. The new healthcare IT services business brings together more than 50 employees and about 250 consultants nationwide to support EHR implementations, go-live support, project management and strategic advisory for provider organizations.

Auctus Group, Inc., through its affiliate Auctus Search Partners, LLC, has acquired KLG Consultants, LLC, a Greenwood Village, Colorado-based talent acquisition and talent development firm. The deal expands Auctus's recruiting and professional services capabilities—adding executive search, leadership development and outsourced CFO/COO/HR solutions to its existing financial services recruiting and M&A advisory offerings.

Hub International Limited acquired the assets of MDW Insurance Group, Inc., Agents Insurance Resources, Inc., and A.I.R. Insurance Marketing, Inc.; terms were not disclosed. The MDW businesses — based in Coral Gables and Plantation, Florida, and Los Angeles, California — will join Hub Southeast/Hub Florida and MDW leadership will join Hub’s regional team.

SuperCom (NASDAQ: SPCB) acquired Safend Ltd., an endpoint data protection and encryption software provider headquartered in Tel Aviv, Israel. The deal, announced March 3, 2016, brings Safend's DLP/encryption technology and customer base (3,000 customers; >3 million license seats) into SuperCom to expand its cyber and data protection capabilities; Safend had previously been a subsidiary of Wave Systems Corp.

HID Global, an ASSA ABLOY Group brand, has acquired Bluvision, a Bluetooth Low Energy provider for enterprise IoT, to expand its real-time location, asset-tracking and cloud-based IoT capabilities. The transaction closed December 1, 2016; financial terms were not disclosed and Bluvision will continue operations in Fort Lauderdale, Florida.

Morningstar, Inc. has completed its acquisition of PitchBook Data, Inc., the Seattle-based provider of private capital market data, research, and technology. The deal adds PitchBook’s platform and approximately 600 employees to Morningstar’s data and analytics offerings to expand capabilities in private capital markets.

The Gorman-Rupp Company announced that its wholly-owned subsidiary, Patterson Pump Company, completed an asset purchase of the business of Morrison Pump Company of Hollywood, Florida. Terms were undisclosed; the acquisition is expected to integrate Morrison's product designs and staff into Patterson's manufacturing and international distribution network to accelerate growth in complementary niche markets.

Cendyn has acquired Guestfolio Communications, a CRM marketing platform focused on boutique hotels, to expand its hospitality-focused cloud software suite. Guestfolio's team and technology will integrate into Cendyn's enterprise hotel CRM and serve as the company's West Coast hub in Whistler, British Columbia.

Abzena plc has agreed to acquire The Chemistry Research Solution LLC (TCRS), a specialist contract chemistry and bioconjugation company based in Bristol, Pennsylvania, for $15 million plus assumed debt and share consideration. The acquisition broadens Abzena's ADC (antibody-drug conjugate) capabilities, adds US operating presence on the East Coast and creates cross-selling and GMP biomanufacturing expansion opportunities.

CID Capital, a private equity firm based in Indianapolis, has acquired BigMouth Inc., a Glastonbury, Connecticut–based novelty consumer products company. The deal transfers ownership from BigMouth's shareholders (led by founder Steve Wampold) to CID Capital, which plans to scale the brand through its portfolio resources.

QualiTest Group, a global software testing and quality assurance provider, has acquired UK-based Test Direct Limited and will merge Test Direct into its UK operations to create one of the largest independent pure-play testing practices in the country. The deal expands QualiTest's coverage into the North & Midlands of England and strengthens its capabilities and sector reach in retail and financial services.

Spanish engineering and multi-technology services group DOMINION has acquired Williamsville, New York–headquartered International Chimney Corporation (ICC) for $15 million. The purchase strengthens DOMINION's U.S. industrial services footprint and complements its existing portfolio of complex solutions and recent U.S. deals, adding a recurring revenue business (estimated $35–40M annual turnover).

nThrive, an Alpharetta, Georgia-based patient-to-payment solutions company, has signed an agreement to acquire Adreima, a Downers Grove, Illinois provider of clinically-integrated revenue cycle services. The acquisition adds patient eligibility determination, enrollment services and strengthened patient advocacy and self-pay collections capabilities to nThrive's revenue cycle offerings and is expected to close prior to year-end 2016.

Surveying and Mapping, LLC (SAM), a geospatial solutions firm headquartered in Austin, Texas, acquired So-Deep, Inc., a subsurface utility engineering (SUE) firm based in Manassas, Virginia. The acquisition expands SAM's service capabilities in SUE and provides immediate geographic entry into the Mid-Atlantic and Southeast markets.

Arthur J. Gallagher & Co. acquired Regency Group, a wholesale insurance broker and program administrator based in East Lansing, Michigan. Regency — known for workers' compensation programs for independent retail brokers and niche specialty programs for landscaping, retail hardware and restaurants — will continue to operate from East Lansing under the direction of Risk Placement Services, Inc., a Gallagher subsidiary; terms were not disclosed.

Bourns, Inc. has acquired certain assets and the ongoing operations of Transtek Magnetics, Inc., a Tucson-headquartered maker of custom transformers, inductors and coils with manufacturing in Dongguan, China. The acquisition expands Bourns' product offering into high-frequency and high-power magnetic components for end markets including automotive, solar power and consumer electronics.

Mercury Systems agreed to acquire CES Creative Electronic Systems, S.A., a Geneva-based provider of safety-certifiable mission computing and avionics subsystems, for approximately $38 million. The deal (expected to close in Mercury's fiscal Q2 ending Dec. 31, 2016) expands Mercury's mission-computing and safety-critical avionics capabilities and broadens its addressable markets in commercial aerospace and defense globally.

San Francisco-based insurance broker Woodruff-Sawyer has acquired Neovia Integrated Insurance Services, a small Santa Barbara/Pasadena-area insurance agency. The deal adds employee benefits, property-casualty and management liability capabilities to Woodruff-Sawyer's Southern California footprint and positions the buyer for further regional growth.

Ferro Corporation acquired Electro-Science Laboratories, Inc. (ESL) for $75 million, expanding Ferro's electronic packaging materials capabilities and strengthening its Performance Colors and Glass platform. ESL, a privately held maker of thick-film pastes and ceramic tape systems headquartered in King of Prussia, Pennsylvania, has about 86 employees and generated an expected full-year 2016 adjusted EBITDA of $9.2 million.

BroadSoft, Inc. has acquired VoIP Logic, a wholesale provider of BroadWorks-based cloud communications services. The acquisition adds VoIP Logic's cloud PBX and BroadCloud-compatible capabilities to BroadSoft's BroadCloud UCaaS portfolio to better serve service providers seeking cloud-based unified communications.

Altisource Portfolio Solutions S.A. has acquired Granite Loan Management, LLC, a Centennial, Colorado-based construction loan disbursement, inspection and risk-mitigation services provider for lenders. The purchase expands Altisource's mortgage and lender-solutions capabilities by adding Granite's construction-lending portfolio management, inspection and fund-control services.

EXL (NASDAQ:EXLS) has acquired Datasource Consulting, LLC, a Denver-based enterprise data management and business intelligence firm. The acquisition expands EXL's data strategy, data architecture and BI capabilities, enabling broader end-to-end enterprise data management and ongoing data services.

Wilson Sporting Goods Co., a subsidiary of Amer Sports, acquired the EvoShield brand, including products, intellectual property and distribution rights, from EvoShield, LLC. The selective asset acquisition expands Wilson’s baseball and softball product portfolio by adding EvoShield’s protective-gear technology and brand.

Vocera Communications acquired Extension Healthcare in an all-cash transaction for approximately $55 million on October 27, 2016. The deal adds Extension Healthcare's Engage clinical integration and alarm-management software to Vocera's clinical communication platform to deepen interoperability with hospital systems, expand product capabilities, and create cross-selling opportunities to Vocera's and Extension's customers.

Ziff Davis, the digital media division of j2 Global, Inc., agreed to acquire Everyday Health, Inc. for $10.50 per share in cash in a transaction valuing Everyday Health at approximately $465 million. The deal—approved unanimously by Everyday Health's board and following a strategic alternatives review—provides immediate cash value to Everyday Health shareholders and expands Ziff Davis's footprint in digital health media and marketing solutions.

Nehemiah Security, a Tysons Corner–based cybersecurity solutions provider, acquired anomaly-detection vendor Triumfant and its AtomicEye endpoint platform. The acquisition will integrate AtomicEye into Nehemiah's product portfolio to expand its advanced anomaly detection, automated remediation and endpoint visibility capabilities for enterprise and government customers.

PowerSchool has acquired Chalkable to integrate Chalkable's Positive Reinforcement System and behavior-tracking tools into PowerSchool's Unified Classroom platform. The acquisition adds student behavior management, real-time recognition and rewards capabilities to PowerSchool's K-12 suite to help districts meet PBIS requirements and improve classroom culture.

Akoya Capital Partners, in partnership with Marquette Capital Partners, Merion Investment Partners and Indigo's management, has acquired Indigo Signworks, a Fargo, North Dakota-based manufacturer of exterior and interior signage. The investor group plans to work with existing management to expand product lines, customer relationships and the company’s geographic footprint.

Casamba LLC announced a merger with HealthWyse (Boston, MA) and TherapySource (Birmingham, AL) to combine post-acute EMR, therapy-management and revenue-cycle capabilities into a single, integrated platform. The transaction brings HealthWyse's home health/hospice EMR and TherapySource's clinical and billing solutions together with Casamba's therapy-management business to enable better care coordination, support bundled-payment and value-based purchasing, and expand the company's post-acute market coverage.

Polaris Industries Inc. agreed to acquire Transamerican Auto Parts Co. (TAP), a vertically integrated manufacturer, distributor, retailer and installer of off‑road Jeep and truck accessories, for an aggregate $665 million (subject to customary adjustments). The acquisition adds TAP's proprietary brands and multi‑channel retail and e‑commerce capabilities to Polaris' aftermarket portfolio to accelerate growth and cross‑sell products to a larger combined customer base.

Denver-based Western Paper Distributors acquired CDC Janitorial Supply (formerly Central Distributing) of Grand Junction, Colorado on October 14, 2016. The purchase expands Western Paper’s sales footprint and purchasing scale across Colorado’s Western Slope and adds cleaning supplies, equipment and foodservice packaging customers in mountain resort and regional markets.

CIRCOR International has signed a definitive agreement to acquire Critical Flow Solutions (CFS) for $210 million. CFS, a Salt Lake City–based manufacturer of severe-service valves and automation equipment for petroleum refineries with approximately 200 employees, will expand CIRCOR's presence in downstream refining and increase exposure to high-margin aftermarket sales.

Argand Partners, a New York-based private equity firm, has acquired Sigma Electric Manufacturing, a Garner, North Carolina-headquartered maker of precision die-cast and sand-cast metal components with multiple manufacturing plants in India. Terms were not disclosed; the transaction is supported by a loan facility from Brightwood Capital Advisors and Argand intends to work with Sigma's management to expand the company’s market presence and geographic footprint.

Convey Health Solutions, a Fort Lauderdale–based provider of technology and benefits administration for government-sponsored health plans, has partnered with New Mountain Capital with co-investment from Eir Partners. The investment will support Convey’s next phase of growth and product/service enhancement; Houlihan Lokey advised Convey and TripleTree advised New Mountain.

The Firefly Group and Kocolene Development Corporation acquired Dealers Building Supply, Inc., d/b/a Dealers Wholesale, a value-added distributor of doors, door hardware and fireplaces based in Indianapolis. Matrix Capital Markets Group served as exclusive advisor to Dealers Wholesale; the investment is intended to boost market penetration and expand the company's distribution capabilities.

General Logistics Systems (GLS), the European parcel services business owned by Royal Mail plc, has acquired Golden State Overnight (GSO) from private equity owner The Halifax Group for an enterprise value of $90 million. GSO, a Pleasanton, California–based overnight parcel carrier operating from 36 facilities across the Western U.S., will keep its existing management team in place following the transaction.

Ranir LLC, a Grand Rapids-based manufacturer of private-label oral care products, has acquired BrushPoint, a Toronto-based maker of store-brand manual and power toothbrushes. The acquisition expands Ranir's product portfolio, manufacturing capabilities and geographic reach across the U.S., Canada and Europe; terms were not disclosed.

Big Bus Tours has acquired Boston-based Smart Destinations, the producer of the Go City Card multi-attraction passes. The acquisition will let Smart Destinations leverage Big Bus' international footprint to launch Go City Card passes in additional destinations while making Big Bus the primary bus tour provider for the passes where both operate.

Ultimate Software (Nasdaq: ULTI) has acquired Kanjoya, a San Francisco-based workforce intelligence and analytics provider, and will integrate Kanjoya’s natural-language processing technology into its UltiPro HCM suite as UltiPro Perception. The Kanjoya team, including founder Armen Berjikly, will join Ultimate’s San Francisco R&D hub to support employee sentiment, survey and predictive analytics capabilities.

Yenni Capital has acquired Steven Feller P.E., a Fort Lauderdale-based engineering design services firm, via Yenni Income Opportunities Fund I. The transaction, executed in partnership with the company's founder Steve Feller and Braga Investment & Advisory, will keep Steve Feller as President and aims to accelerate geographic expansion and strengthen financial and project management controls.