Buyout Acquisitions in 2024

Lion Equity Partners, a Denver-based private equity firm, has acquired Global Compression Services (GCS) from Warren Equipment Company. GCS, headquartered in Midland, Texas, is a global distributor and manufacturer of OEM and aftermarket parts for reciprocating natural gas engines and compressors; Lion Equity said the acquisition will support growth, capability expansion, and operational improvements in the natural gas compression aftermarket.

POET Technologies completed the acquisition of the remaining 24.8% equity in Super Photonics Xiamen (SPX) from Quanzhou San'an (Sanan) for US$6.5 million (payable over five years) and purchased SPX's production equipment for US$3.8 million. The deal gives POET 100% ownership of SPX, strengthens its ‘China Plus One’ manufacturing footprint and expands production capacity for 800G+ optical engines serving AI and hyperscale data center markets.

PAR Technology Corporation acquired Delaget, a restaurant analytics and business intelligence provider, for $132 million (closed Dec. 31, 2024). The deal, paid principally in PAR common stock, brings Delaget's analytics, loss-prevention and operational-insights capabilities into PAR's Operator Cloud and accelerates development of the PAR Data Platform to deliver expanded back-office and delivery operations analytics to restaurant customers.

H1 has acquired Ribbon Health, a provider data management and API platform, in a cash-and-stock deal that closed in late December. The acquisition integrates Ribbon's provider directory and real-time data capabilities into H1's healthcare data and analytics platform to expand H1's reach into health plans, provider systems and digital health markets.

MB92 Group has acquired GYG Ltd., the superyacht painting, service and supply group that trades under the Pinmar, Pinmar Yacht Supply and Technocraft brands. The deal, which closed on Dec. 31, 2024, strengthens MB92's painting, supply and refit capabilities and expands its service offering across Europe and the U.S.

saas.group has acquired KingWebMaster, the maker of the Advanced Shipping Manager shipping-rate SaaS for e-commerce platforms like Shopify and BigCommerce. The deal expands saas.group's portfolio of e-commerce-focused SaaS products and aims to accelerate product development and service upgrades for KingWebMaster's merchant customers.

World Wide Technology (WWT) completed its acquisition of Softchoice Corporation pursuant to a plan of arrangement, acquiring all outstanding Softchoice shares for C$24.50 per share (C$1,478,242,241 aggregate, ~US$1.3B). The deal expands WWT's software, cloud, cybersecurity and AI capabilities and broadens its presence in Canada and the North American SMB and commercial markets; Softchoice will operate as a WWT company with Andrew Caprara remaining as CEO.

Atlas Van Lines (through its Atlas Canada operations) has acquired Orbit Brokers, a Mississauga, Ontario–based customs brokerage firm, effective Jan. 1. The acquisition integrates Orbit Brokers into Atlas Canada's Connect Logistics division to expand cross‑border customs clearance capabilities and provide more seamless end‑to‑end relocation and logistics services across Canada and the United States.

Larry Van Tuyl, through VT Companies, has acquired Groove Toyota from Summit Automotive Partners. The acquisition gives Van Tuyl his first dealership presence in Colorado as he expands his multi-state automotive portfolio.

Aprio has acquired two Chicago-based accounting firms, KRD, Ltd. and Burkett & Beattie, Inc., expanding its footprint into the greater Chicago area and strengthening its Midwest presence. The transactions add KRD’s ~110 partners and professionals and Burkett & Beattie’s team of ~10 professionals to Aprio’s nationwide advisory, tax, and accounting platform.

Mesirow has acquired Bastion Management, an asset-backed specialty finance lender based in Stamford, Connecticut; the transaction closed December 31, 2024. Bastion will operate within Mesirow Global Investment Management and serve as the platform for Mesirow’s Private Credit – Asset-Backed Lending expansion; Bastion was founded in 2013 and has completed 50+ transactions totaling over $2 billion in commitments.

KeyMark, a South Carolina-based intelligent automation provider and value-added reseller, acquired FileHold Systems Inc., a developer of enterprise-grade document and records management software, effective December 31, 2024. The acquisition brings FileHold's product, IP and customer base into KeyMark's portfolio to close a product gap and expand KeyMark’s document management and automation capabilities.

Amwins, a leading wholesale distributor of specialty insurance products, has acquired Superior Underwriters, a Bellevue, Washington–based managing general agency (MGA). The business, which will join Amwins Access, closed on December 31, 2024; terms were not disclosed and the acquisition is intended to strengthen Amwins' presence in the Pacific Northwest and expand its small-business binding authority capabilities.

Wealth Enhancement, a national independent wealth management firm with $102.1 billion in client assets, has acquired Northwest Investment Counselors, an independent RIA based in Lake Oswego, Oregon that manages about $673 million in client assets. The transaction, which closed December 31, 2024, expands Wealth Enhancement's presence in the Pacific Northwest and augments its advisory bench and service capabilities.

S&P Global has acquired ProntoNLP, a generative AI and NLP tooling provider, and will integrate the company's models and LLM-based signal tools into S&P Global Market Intelligence. The acquisition, which closed December 31, 2024, is intended to bolster S&P Global's textual data analytics and enterprise AI capabilities; financial terms were not disclosed.

Wealth Enhancement has acquired VanceGray Wealth Management, an independent RIA that oversees over $409 million in client assets and maintains locations in Bangor and Ellsworth, Maine. The acquisition closed on December 31, 2024, establishes Wealth Enhancement's first location in Maine and increases the firm's total client assets to more than $102.1 billion. The VanceGray team of four advisors and six support staff will join Wealth Enhancement.

Teledyne Technologies Incorporated completed the acquisition of Micropac Industries, Inc. in an all-cash merger, valuing Micropac at approximately $57.3 million. Micropac stockholders received $20.00 per share; Micropac will continue to operate from its Garland, Texas facility as part of Teledyne, expanding Teledyne's capabilities in microelectronic and optoelectronic components for aerospace, defense and medical markets.

Employer.com has acquired Bench Accounting, the bookkeeping and tax SaaS provider that recently suspended operations, in a deal intended to restore platform access and continuity for Bench customers. Employer.com said customers will retain their existing bookkeepers and platform access while Employer.com integrates Bench's bookkeeping capabilities into its workforce management and financial services offering.

Premium Brands Holdings Corporation completed the acquisitions of NSP Quality Meats, Casa Di Bertacchi and Italia Salami for a total purchase price of US$66.0 million (US$50.0 million cash, US$10.0 million common shares and US$6.0 million contingent consideration). The three businesses have combined annual sales of approximately US$200 million and will add cooked-protein and cured-meat production capacity to Premium Brands' Specialty Foods Group; the company also completed a US$68.0 million sale-and-leaseback of an expanded Hempler's production facility.

N-Power Medicine completed a stock-for-stock acquisition of Syapse on December 30, 2024, integrating Syapse’s precision-medicine technology, data assets and network of community oncologists into N-Power’s Kaleido Registry and AI-enabled point-of-care platform. Innovatus Capital Partners joined N-Power’s existing investors (including the Merck Global Health Innovation Fund) to provide ongoing funding; Canaccord Genuity served as Syapse’s exclusive financial advisor.

CIH (Central Indiana Hardware), part of the APTURA Group, has acquired Haley's Lock, Safe & Key Service, Inc., a family-owned locksmith and electronic security integrator with locations in Lafayette and Crawfordsville, Indiana. The deal preserves Haley's brand and local operations while providing additional resources from CIH/APTURA to expand service capabilities and market reach.

Wabtec Corporation has acquired Bloom Engineering, Inc., a Pittsburgh-based provider of industrial burners and combustion systems, for $69 million in cash. The purchase expands Wabtec’s heat transfer and energy solutions capabilities and is expected to be immediately accretive to EPS, with synergies to be realized over the next three years.

OMERS Private Equity has acquired a majority stake in Integris, a national managed IT services provider, from Frontenac. The deal (terms undisclosed) positions OMERS to enter the MSP sector and to support Integris' continued expansion through organic growth and strategic add-on acquisitions; Integris is headquartered in Cranbury, New Jersey and employs over 600 people nationwide.

Rivean Capital will acquire a majority stake in Valcon, the Utrecht-based digital transformation consultancy, subject to ACM approval and consultation with Valcon's Dutch works council. Waterland will be replaced as majority investor but will remain a minority shareholder; the investment is intended to accelerate Valcon's organic and acquisitive growth, expand capabilities (including AI and data services) and strengthen its position across Northwestern Europe.

Pangaea Logistics Solutions Ltd. completed a combination transaction with Strategic Shipping Inc., issuing 18,059,342 shares (approximately 27.6% of outstanding stock) to SSI in exchange for fifteen handy-size dry bulk vessels. The vessels were valued at approximately $271 million at closing (inclusive of $100 million of vessel financing assumed), and the deal closed following shareholder approval on December 30, 2024.

Turkish unmanned aircraft manufacturer Baykar has acquired Italian aircraft maker Piaggio Aerospace following approval from Italy's Ministry of Enterprises and Made in Italy. The deal gives Baykar traditional aircraft manufacturing, MRO and engine capabilities in Italy and supports plans to preserve jobs and expand production at Piaggio's facilities.

Guardian Capital Partners, an operationally focused private equity firm, has acquired Team LINX in partnership with the LINX executive management team. LINX, headquartered in Denver, provides technology infrastructure services for data centers and mission-critical applications across healthcare, financial services, education and other end markets; MidCap Financial provided financing for the transaction.

Arthur J. Gallagher & Co. has acquired Murray Gardner Insurance Agency Inc., dba BMR Insurance, a Tustin, California-based retail insurance agency serving commercial and personal lines across Southern California. The deal will integrate BMR into Gallagher’s Southwest retail brokerage operations to expand its retail brokerage capabilities in the region; terms were not disclosed.

CAPTRUST Financial Advisors has acquired Campbell Wealth Management (Alexandria, Virginia) and TruNorth Wealth Partners (St. Paul, Minnesota), adding a combined $1.97 billion in client assets and expanding its geographic footprint. The deals bring 33 colleagues from Campbell (with $1.4 billion in assets) and 10 colleagues from TruNorth (with $570 million in assets) to CAPTRUST; financial advisors Houlihan Lokey and Advisor Growth Strategies served as advisors to Campbell and TruNorth, respectively.

Growable Ventures, led by Solomon Airhart and Jordan Agee, has acquired Denver-based Obex Pest Defense, a residential pest control company founded by Sean Licalzi in 2020. The buyers plan to scale Obex across Colorado, leveraging their experience from Aruza Pest Control to grow Obex into a leading residential pest control brand in the state.

Commure, a Mountain View–based healthcare technology company, has acquired Memora Health, a San Francisco–based digital care navigation platform. The deal brings Memora's AI-enabled patient navigation and care automation capabilities into CommureOS to strengthen patient engagement, care pathway personalization, and Commure's broader AI-powered clinical and operational offerings.

BGM Group Ltd. (Nasdaq: BGM) completed the acquisition of the intelligent platform of AIX Inc. and also acquired RONS (RONDS/RONS Intelligent Technology) and Shenzhen Xinbao Investment, marking BGM’s strategic expansion into AI-driven technology and financial/insurance services alongside its pharmaceutical operations. The deal positions BGM to integrate AI capabilities with its healthcare and insurance ambitions to offer more intelligent health and insurance solutions globally.

Labor Smart, Inc. (LTNC) has acquired Go Fast Sports and Beverage Company from Illumination Brands in exchange for 400,000,000 LTNC shares. Go Fast will operate as a standalone subsidiary with Samantha Brown remaining as President as LTNC expands its consumer beverage portfolio and global distribution plans.

Sumitomo Corporation and Sumitomo Corporation of Americas completed the full acquisition of Werner Aero LLC, effective December 27, 2024, making Werner Aero a wholly owned subsidiary. The deal expands Sumitomo's aircraft aftermarket capabilities by integrating Werner Aero's aircraft procurement, dismantling, repair, inventory management and parts sales operations to better serve airlines, lessors and MRO customers.

ALKEME, a Top 35 insurance brokerage based in Ladera Ranch, California, has acquired Aspen Gold Insurance Brokers, marking ALKEME's first expansion into Colorado. Aspen Gold, a family-owned agency based in Broomfield, Colorado, will leverage ALKEME's resources and technology to expand its commercial and personal insurance offerings; founder Caleb Joseph commented on the opportunity for clients and staff.

JSW Neo Energy, a wholly owned subsidiary of JSW Energy, has agreed to acquire O2 Power from EQT Infrastructure IV and Temasek for USD 1.5 billion. O2 Power, headquartered in Gurgaon, India, is a utility-scale renewable energy platform with c.4.7 GW of secured capacity and a team of over 300 employees.

Coeptis Therapeutics Holdings, Inc. (Nasdaq: COEP) has completed the acquisition of the NexGenAI Affiliates Network platform from NexGenAI and launched a new division, Coeptis Technologies, to commercialize AI-driven marketing and RPA capabilities. The deal brings AI-powered marketing software and robotic process automation into Coeptis’ offerings to diversify the biopharma company’s growth avenues and support marketing and operations in highly regulated end markets such as biotech, pharma, and MLM.

Panasonic Corporation agreed to acquire the remaining 80% stake in Blue Yonder from New Mountain Capital and funds managed by Blackstone for USD5.6 billion (USD7.1 billion including repayment of outstanding debt), valuing Blue Yonder at USD8.5 billion. The acquisition brings Blue Yonder fully into Panasonic to combine Blue Yonder's AI/ML-driven, cloud-based Luminate supply chain platform with Panasonic's IoT, edge and industrial engineering capabilities to accelerate an "Autonomous Supply Chain" strategy.

Fleet Feet has acquired South Sound Running's two retail locations in Olympia and Puyallup, which will re-open as Fleet Feet Olympia and Fleet Feet Puyallup in early 2025. Local Fleet Feet franchisees Wade and Julie Pannell — who operate six other Washington stores — will operate the locations following the retirement sale by founders Greg Klein and Joan Marchioro.

Arthur J. Gallagher & Co. acquired Oakbrook Terrace-based Afina Insurance Advisors, Inc., a property and casualty insurance broker serving the greater Chicago area. The Afina team will remain in place and operate under Gallagher's Midwest retail property/casualty brokerage operations to complement Gallagher's existing retail brokerage capabilities in Chicago. Terms were not disclosed.

Inszone Insurance Services, a Sacramento-based full-service insurance brokerage, has acquired Roten & Company Insurance, a multigenerational family-run agency in San Antonio, Texas. The acquisition expands Inszone’s footprint in Texas and enhances its ability to provide commercial, personal, and benefits insurance to local businesses and individuals.

Kester Capital has acquired EMAS Pharma, the clinical development division of Bionical Emas, in a carve-out transaction alongside an incoming executive team led by experienced CRO operators. The deal creates an independent CRO platform that Kester and the management team intend to scale organically and through acquisitions, expanding capabilities and geographic presence in North America and Europe.

Inszone Insurance Services has acquired Coe Agency, LLC, an independent insurance agency specializing in health and benefits, to strengthen Inszone's presence in New Mexico and expand its employee benefits capabilities. The Coe Agency team in Rio Rancho will join Inszone's Albuquerque office, allowing clients to retain continuity while gaining access to Inszone's national carrier network.

PML Sound International—parent of Paradigm, Anthem and MartinLogan—has acquired loudspeaker maker GoldenEar from AudioQuest. GoldenEar will operate as GoldenEar Studio Inc. beginning January 1, 2025 and will be integrated into PML's engineering and manufacturing operations, with a temporary pause in operations during January 2025 to enable integration.

Inszone Insurance Services, a Sacramento-based national insurance brokerage, has acquired Esquire Insurance, LLC (doing business as Loft & Co), a Denver-headquartered insurance agency with ~30 employees and locations in three states. The deal expands Inszone's national footprint and provides Loft & Co's clients access to a broader range of carriers, technology and resources.

Avel eCare has acquired Hospital Pharmacy Management, Inc. (HPM) to strengthen and expand its remote pharmacy and onsite pharmacy management services. HPM — a Kansas-based provider that supports 51 hospitals across Kansas, Nebraska, Missouri and Texas — will join Avel's pharmacy offering to provide 24/7 medication order review, pharmacist-in-charge coverage, and other clinical pharmacy services to health systems.

Consortium Brand Partners (CBP), in strategic partnership with American Exchange Group, acquired Jonathan Adler, the New York–based home décor, furniture and lifestyle brand, closing the transaction on December 23, 2024. Founder Jonathan Adler will remain Founder and Chief Creative Officer as the buyer partners plan to expand the brand’s retail, wholesale and international footprint.

Relevant Industrial, LLC has acquired Loy Instrument, Inc., a Indianapolis-based provider of process control and combustion solutions. The acquisition strengthens Relevant's combustion, process control and automation capabilities and expands its geographic footprint in the U.S. Midwest.

USANA Health Sciences acquired a 78.8% controlling stake in Hiya Health Products, LLC for approximately $205 million in cash, closing December 23, 2024. The acquisition expands USANA's direct-to-consumer presence in the children's health and wellness market and is expected to be accretive to USANA's 2025 adjusted EBITDA.

Aurionpro Solutions Limited has acquired Fenixys, a Paris-based capital markets consulting firm, in an all-cash deal valued at €10 million. The acquisition strengthens Aurionpro's banking and fintech offerings and expands its footprint into Europe and the Middle East by adding Fenixys' MUREX and capital markets advisory capabilities.