Buyout Acquisitions in 2018

KnowledgeLake has acquired RatchetSoft, a U.S.-based provider of attended and unattended robotic process automation (RPA) technology, in a deal finalized Dec. 31. The acquisition integrates RatchetSoft's RPA and IP into KnowledgeLake's cloud content capture and workflow platform, expanding KnowledgeLake's automation capabilities and adding hundreds of RatchetSoft customers and channel partnerships to its base.

BERKS Group, a division of the News‑Press & Gazette Company, completed the acquisition of Swiss‑Tech, LLC. Swiss‑Tech — a precision CNC Swiss machining and contract manufacturer serving medical, aerospace and industrial end markets — will serve as a platform investment and its management team will remain in place as BERKS plans capital investments to support growth.

DoubleVerify acquired Helsinki-based contextual intelligence and semantic AI provider Leiki Ltd. in an all-cash, all-stock transaction completed December 27, 2018 to strengthen DoubleVerify's contextual content classification and brand-reputation capabilities globally.

Sequel Holdings, L.P. acquired Star Seed, Inc. from Gladstone Investment Corporation (Gladstone Investment) on December 21, 2018. Gladstone Investment sold its equity interest and prepaid its debt investment in Star Seed, a Kansas-based seed distributor with strengths in native grasses, wildflowers, forages and small grains; Gladstone said the sale generated a realized gain.

Planview, the Austin-based work and resource management software provider, acquired Spigit, a San Francisco–based leader in crowdsourced innovation management software. The acquisition adds Spigit's innovation-management and machine-learning idea-analytics capabilities to Planview's WRM portfolio, enhancing its product and portfolio management offerings for enterprise customers.

Allied Motion Technologies Inc. acquired TCI, LLC (doing business as Transcoil), a Germantown, Wisconsin-based designer and manufacturer of power quality and magnetic assembly products. Allied Motion said the deal expands its controlled motion solutions portfolio, enhances manufacturing capabilities and margins, and will help extend TCI's international distribution reach.

International private equity firm Cinven (Sixth Cinven Fund) has agreed to acquire One.com, a Denmark-founded web hosting and domain provider serving over 1 million customers. Cinven intends to support One.com's growth strategy—both organically and via acquisitions—leveraging its TMT experience to consolidate the fragmented European hosting market.

Covington Partners LLC has acquired Grand Traverse Plastics Corp., a Williamsburg, Michigan-based designer and manufacturer of engineered plastic assemblies serving automotive under-the-hood and material-handling markets. Angle Advisors served as exclusive advisor to Grand Traverse Plastics on the transaction, which positions Covington to invest in specialized injection-molding and value-added assembly capabilities for automotive and industrial end markets.

Class Valuation, a nationwide appraisal management company based in Troy, Michigan, has acquired Van Nuys, California–based Landmark Network, a specialist in real estate valuation for the reverse mortgage lending industry. The acquisition expands Class Valuation’s reverse-mortgage capabilities and geographic footprint while integrating Landmark’s client relationships and valuation technology into Class’s national platform.

OpenText has acquired Liaison Technologies to integrate Liaison's ALLOY cloud-based integration and data management platform into the OpenText Cloud Platform, extending the OpenText Business Network. The deal expands OpenText's application-to-application (A2A) integration and analytics capabilities and strengthens its presence in healthcare, life sciences and automotive verticals.

Boyne Capital has acquired a majority interest in Infusion Associates Management, Inc. (IAM), a newly formed management services organization that will oversee Infusion Associates' ambulatory infusion clinics. The partnership keeps Dr. Khan Nedd in a significant ownership and clinical leadership role and is intended to support capability expansion and geographic growth across Michigan and the Midwest.

WellSky, a TPG-backed health and community care technology company, has acquired Consolo Services Group, a Lexington, Kentucky–based provider of cloud-based hospice and palliative care software. The deal adds Consolo’s palliative care, adult day care, and memory care capabilities to WellSky’s hospice portfolio and retains Consolo’s headquarters and management leadership in Lexington.

Engineering Systems Inc. (ESi) has acquired Crane Engineering, a multi-disciplinary forensic engineering and investigation firm with a forty-year track record. The acquisition expands ESi’s technical capabilities (notably in automotive, oil & gas, fire protection, building sciences and transportation) and accelerates its local presence in the upper Midwest to better serve litigation, insurance and industrial clients.

Alera Group, a national independent insurance agency based in Deerfield, Illinois, has acquired Cincinnati-based Bailey & Company Benefits Group, an employee benefits firm. The acquisition expands Alera's employee benefits capabilities and local presence in the Cincinnati market; terms were not disclosed.

RealPage agreed to acquire Rentlytics for an initial cash purchase price of approximately $57 million. The acquisition expands RealPage’s multifamily data footprint by nearly 900,000 units and adds Rentlytics’ real-time business intelligence and performance analytics capabilities to RealPage’s platform.

Formstack, a Indianapolis-based data capture and workflow automation SaaS provider, acquired Toronto-based QuickTapSurvey to expand its mobile and offline survey capabilities and grow its international footprint. QuickTapSurvey will remain a standalone mobile surveys product while integrating with Formstack's platform features including workflow automation, HIPAA compliance, and numerous native integrations.

Aquila Software announced the acquisition of Financial Risk Solutions (FRS), the developer of the InvestPro investment administration platform serving life assurance, pensions and asset management clients. Aquila said the deal will enable further product development and expansion of InvestPro's geographic reach while retaining FRS leadership and supporting long-term client relationships.

Savara Holdings, Inc. acquired Assured Technology Solutions (ATS), a Portland-based managed services provider, in a transaction advised by ACT Capital Advisors. The sale was part of a pre‑retirement exit/transition by ATS leadership and positions ATS to scale under Savara's ownership.

Chicago-based private equity firm Periscope Equity has acquired Allen Technologies, Inc., an Austin, Texas-based provider of in-room patient engagement SaaS, from Greyrock Capital Group. Periscope said it will invest in Allen’s technology and pursue expansion into new healthcare provider markets.

AN Global, a Dallas-based digital transformation firm, has acquired 4th Source, a Tampa-headquartered IT services and nearshore delivery company. The deal expands AN Global’s U.S. footprint and augments its healthcare, analytics, cloud, and application development capabilities to accelerate growth across healthcare, retail and financial services clients.

Emart, South Korea's largest retailer, has acquired Good Food Holdings, the California-based owner of upscale grocery chains Bristol Farms, Lazy Acres Market, and Metropolitan Market, for $275 million. The purchase gives Emart a foothold in the U.S. grocery market while Good Food Holdings' operations and management are expected to remain unchanged in the near term.

WebBank has agreed to acquire National Partners PFco, a Denver-based premium finance company and subsidiary of MLF Financial Group, in a deal expected to close in early 2019 pending regulatory approval. The acquisition gives WebBank its first entry into insurance premium finance, expanding its product capabilities and access to independent insurance agents, while National Partners will remain operationally in place as a WebBank subsidiary.

Pittsburgh-based Curavi Health Inc., a UPMC Enterprises–backed telemedicine provider, has acquired Long Island City–based TripleCare, a telemedicine services provider for post-acute and long-term care facilities. The deal expands Curavi’s network and capabilities in the skilled nursing/post-acute market and positions the combined company to serve nearly 100 facilities across 14 states.

Boston-based private equity firm WestView Capital Partners has acquired Bell and Howell, a Durham, North Carolina-based provider of technology-enabled mechatronic and service solutions, from Versa Capital Management (with co-investor Access Value Investors). The sale follows a multi-year repositioning by Versa that transformed Bell and Howell from a legacy mailing systems supplier into a profitable business focused on retail click-and-collect, packaging automation, factory intelligence and service solutions.

Hg has agreed to invest in Combell Group, the Belgian mass hosting and domain services provider, with Waterland Private Equity exiting its shareholding; terms were not disclosed and the deal is subject to regulatory approval. Hg said it will support Combell's continued organic growth and selective M&A as the company expands further across Europe.

Momentum Telecom acquired CloudNet Group, a Phoenix-based communications provider, to strengthen its cloud voice and unified communications market share and broaden its solution portfolio with offerings such as SD-WAN, contact center and vertical go-to-market capabilities. Terms were not disclosed; Bradley Arant Boult Cummings served as legal counsel to Momentum and LoHi Merchant Bank was CloudNet Group’s exclusive investment banker.

Graham Construction Corp. has acquired Walker Design and Construction, a Boca Raton-based design-build general contractor that has served south and central Florida for over 40 years. The acquisition expands Graham's footprint into Florida and adds Walker's capabilities in pre-engineered metal buildings and specialized aluminum fabrication/erection.

ATSG, a tech-enabled managed services company headquartered in Briarcliff Manor, New York, has acquired VDX, a Microsoft award-winning provider of project-based consulting and managed services. The acquisition expands ATSG's Microsoft practice (Azure and O365), deepens its managed services capabilities, and increases capacity and presence in the U.S. Northeast.

Arthur J. Gallagher & Co. acquired Long Beach, California-based R.T. Beers & Company Insurance Services, Inc. The acquisition expands Gallagher’s retail property/casualty brokerage capabilities and presence in Southern California; the R.T. Beers leadership team will continue to operate from their current location under Gallagher’s Southwest region.

Radian Group Inc. has acquired Independent Settlement Services, a national appraisal and title management services provider, adding its Vendor Information Bridge (VIBe) technology to Radian’s real estate services. Independent Settlement Services will continue operating under its brand from its Pittsburgh office with existing management remaining in place as it transitions into Radian’s Real Estate Services business.

American Securities LLC has closed its acquisition of CPM Holdings, Inc., a global designer and manufacturer of engineered process equipment for animal feed, oilseed processing, extrusion and thermal processing. The transaction was completed in partnership with CPM's management team; financial terms were not disclosed. CPM, headquartered in Waterloo, Iowa, has more than 1,000 employees and serves a global customer base across North America, Europe, Asia and Latin America.

Petmate, a leading pet products manufacturer based in Arlington, Texas, announced the acquisition of Gen7Pets, a maker of pet strollers, travel carriers and ramps founded in 2012. The deal expands Petmate's product portfolio in pet travel and safety accessories and will bring Gen7Pets management and IP into Petmate's Arlington headquarters during integration.

Sandbox & Co, on behalf of Figjam Group Ltd., has acquired Constructive Media, the New York–headquartered owner of CoolmathGames, from H.I.G. Capital. The acquisition brings Constructive Media's large edutainment and casual gaming audience into Sandbox/ Figjam's portfolio to expand its network of children- and family-focused learning and entertainment properties.

Harwood Capital’s portfolio company Curtis Gilmour has merged with Pelsis Ltd., a portfolio company of LDC, combining complementary pest-control product lines and global distribution footprints. The consolidated group will be led by Pelsis Group CEO Peter Mangion and continue to operate from existing U.S. and European facilities; financial terms were not disclosed.

Digital Media Solutions (DMS) has acquired Fosina Marketing Group, a Danbury, Connecticut-based subscription and direct-to-consumer marketing firm. The deal brings Fosina's subscription marketing expertise and team (including founder Jim Fosina) into DMS's digital agency to expand its capabilities serving consumer-facing e-commerce and subscription brands.

Plastivaloire Group has acquired TransNav Corporation, a vertically integrated manufacturer of engineered plastic components and assemblies based in New Baltimore, Michigan. The deal expands Plastivaloire's footprint into the United States and adds three manufacturing sites (Michigan, Kentucky and Puebla, Mexico), strengthening its automotive, retail and industrial product capabilities and taking proforma revenue to nearly €750 million.

Brown & Brown of Massachusetts, LLC (part of Brown & Brown, Inc.) has acquired substantially all of the assets of Rodman Insurance Agency, Inc. The Rodman team will continue to operate from its Needham, Massachusetts office under existing leadership; the agency reported approximately $9.5 million in annual revenue and serves commercial customers across the Northeast.

Cable ONE (NYSE: CABO) entered into a definitive agreement to acquire Clearwave Communications, a facilities-based fiber network operator headquartered in Harrisburg, Illinois. The acquisition gives Cable ONE a dense regional fiber footprint and expands its business/enterprise services capabilities within its existing markets; Clearwave was majority-owned by funds affiliated with Stephens Capital Partners LLC.

Applied Adhesives, a division of Applied Products, Inc., has acquired Prairie Technology Group, a Hutto, Texas-based supplier of epoxy, polyurethane, acrylic adhesives, release agents, silicones and sealants. The buyer said it will build on Prairie’s capabilities and expand its value proposition across the United States and Mexico as part of its recent roll-up activity in the adhesives sector.

Forescout Technologies has acquired Dutch OT cybersecurity firm SecurityMatters to expand its device visibility and industrial/OT security capabilities. The deal (reported at about $113 million) strengthens Forescout’s offering for securing converged IT/OT environments and extends its footprint in industrial end markets.

The Allstate Corporation has acquired PlumChoice, a Lowell, Massachusetts-based provider of cloud and technical support services, in a $30 million deal. PlumChoice will be integrated into Allstate's SquareTrade protection-plans business to expand tech-support capabilities for consumers and small businesses.

MavenHill Capital, a lower middle market private equity firm, has acquired Gasser & Sons, a family-owned precision metalforming and component manufacturing business based in Commack, New York. The transaction transfers ownership from the Gasser family to MavenHill and positions the firm to continue and expand Gasser & Sons' capabilities serving medical, defense, communications and industrial end markets.

HighBar Partners has acquired SS8 Networks, a provider of lawful intercept, network intelligence and breach-detection solutions, to fund the company’s next phase of growth. The investment is intended to accelerate SS8’s product innovation and expand its reach with communications service providers, law enforcement agencies and enterprise customers as network technologies transition to 5G and beyond.

Caltius Structured Capital provided subordinated debt, preferred equity and common equity to support a management buyout of Adrenaline, LLC from NewGround International, co-investing alongside Adrenaline’s senior management team. Adrenaline, an Atlanta-based experience-design and brand strategy firm serving banks, credit unions and retail clients, completed the transaction to secure liquidity and support growth and independence.

Amedisys, Inc. acquired Bring Care Home, a privately owned personal care services provider serving the North Shore, Merrimack Valley and Greater Boston areas of Massachusetts. The deal (announced/closed in 2018) expands Amedisys’ personal care footprint in northeastern Massachusetts; the sell-side was advised exclusively by American Healthcare Capital.

Sikich LLP has acquired the business of Executive Alliance, a human resources consulting firm that implements and optimizes payroll and human capital management technology and processes. The acquisition, which closed Nov. 1, 2018, expands Sikich’s human resources consulting capabilities and adds Executive Alliance’s experienced HR and payroll technology consultants to Sikich’s practice.

ABEO Group has acquired Fun Spot Manufacturing LLC, a Hartwell, Georgia-based designer and manufacturer of equipment for amusement and trampoline parks. The acquisition is intended to strengthen ABEO's footprint in North America and expand its capabilities in the growing "Sportainment" market.

London-based Ascential plc acquired Flywheel Digital LLC, a Baltimore- and Seattle-based e-commerce services and software provider, for $60 million cash upfront with earn-outs of up to $400 million over three years. Flywheel—which offers managed services, software and marketplace expertise to consumer-packaged-goods brands selling on Amazon—will join Ascential's digital marketing/sales division and report to CEO Duncan Painter.

ENSERVCO Corporation acquired all outstanding ownership interests of Adler Hot Oil Service, LLC for $12.5 million, with a combination of cash, a seller note, indemnity holdback and an earn-out. The acquisition expands ENSERVCO's frac water heating and hot oiling capabilities and geographic footprint (Bakken, DJ Basin, Green River, Marcellus/Utica) and is expected to be accretive to earnings and improve pro forma debt-to-EBITDA.

Arena Solutions, a cloud-based product realization platform, acquired Omnify Software, a provider of Product Lifecycle Management (PLM) software for discrete manufacturers. The acquisition brings Omnify's experienced staff and customers into Arena's portfolio while maintaining Omnify's Andover office and product support to accelerate product development and expand Arena's offerings in electronics, medical device, aerospace and telecom markets.