Construction Acquisitions in Indiana

The State Group, a portfolio company of funds managed by Apollo, has acquired Kokomo-based electrical contractor J&J Electric of Indiana, expanding its footprint in Central and Northern Indiana. J&J Electric brings over 200 union electricians and capabilities in electrical construction, maintenance, fire, security, communications, utility and safety systems to The State Group's multi-trade platform.

New State Capital Partners has completed a majority investment in Harrell-Fish Inc., a Bloomington, Indiana-based mechanical contractor, in partnership with Amethyst Capital Group. The existing owners retained significant equity and will remain with the company as New State positions HFI as a platform for organic growth and add-on acquisitions to expand geographically across the Midwest and beyond.

Stronghouse, a national exterior home-services platform backed by O2 Investment Partners, has acquired Centurion Exteriors, a Fort Wayne, Indiana-based provider of roofing, windows and exterior remodeling services. The add-on expands Stronghouse's footprint into Indiana and Northwestern Ohio and will provide Centurion with centralized operations, capital and technology support to scale locally.

Sunflower Industrial, a coatings platform majority owned by KCN Companies, has acquired a controlling interest in Desco Floor Systems, a Fortville, Indiana-based commercial and industrial resinous polymer and polished concrete installer. Desco's leadership (Lee Reasor and Mark Verry) will remain in place and will partner with Sunflower's Epoxy Coating Specialists (ECS) to expand the combined company's national installation footprint.

Blue Point Capital Partners’ platform Pinnacle MEP has acquired Bell Plumbing Services, a Greenwood, Indiana commercial plumbing provider. The add-on expands Pinnacle’s footprint in central and eastern Indiana and enhances its plumbing capabilities for existing HVACR customers to increase market density and service offerings.

Align Technologies has acquired FleetWatcher, an Indianapolis-based fleet and materials management software provider serving heavy civil construction and asphalt paving customers. The deal, funded with additional capital from majority investor The Riverside Company, expands Align's construction operations platform to include telematics, materials management, and enhanced asset tracking capabilities.

Landmark Aquatic, a national commercial pool services platform backed by Bow River Capital, has acquired Indiana-based Spear Corporation to expand its Midwest footprint and strengthen renovation, design, construction, and maintenance capabilities. The deal adds Spear's technical expertise and customer relationships (education, municipal and private club developers) to Landmark's platform, which is supported by Bow River Capital.

Six Pillars Partners led a recapitalization of Royalty Roofing and sister company Majestic Facility Experts to support national growth and pursue add-on acquisitions. Capital for the transaction was provided by Centerfield Capital Partners, Petra Capital Partners, Concentric Investment Partners, and UMB Capital Corporation; founder Andy Royalty remains as President and the Company completed a strategic bolt-on at closing.

Soundcore Capital Partners, through its commercial paving platform ACI Holdings Group, acquired Asphalt Solutions, Inc., a provider of asphalt and concrete maintenance and repair services based in Indianapolis. The deal is the third add-on to Soundcore's ACI platform and is intended to expand ACI's commercial paving footprint in the Midwest and accelerate organic and acquisitive growth.

Infinity Home Services (IHS), a portfolio company of North Branch Capital, acquired Cochran Exteriors, a residential roofing, siding, window and gutter replacement contractor based in Indianapolis. The purchase is an add-on to IHS’s national consolidation strategy in the non-insurance, retail residential exterior market and expands IHS’s presence in the Indianapolis area.

Cairngorm Capital Partners has partnered with Atlanta-based SageHome to acquire New Bath Today Inc., an Indianapolis-headquartered bathroom renovation specialist focused on aging-in-place solutions. The acquisition is SageHome's first add-on and expands its national footprint and capability to provide accessibility and mobility home modifications for seniors and people with disabilities.

Comfort Systems USA (NYSE: FIX) acquired MEP Holding Co., Inc. and its subsidiaries including Edwards Electrical & Mechanical, Inc., a Richmond, Kentucky-based service and controls business (Thermal Service, LLC and TES Controls, LLC), and Kodiak Labor Solutions, LLC, a temporary staffing firm based in Indiana. The additions expand Comfort Systems USA's Midwest footprint, add specialized clean-room and controls capabilities, bolster HVAC service and chiller maintenance capacity in Kentucky, and augment skilled labor resources for project staffing.

Fred Weber Inc., a St. Louis-based construction materials and services provider, has acquired General Drilling, an Indiana-based blast hole drilling company. The deal brings specialized drilling capabilities and skilled employees into the Fred Weber organization and expands its presence in the Midwest and South; General Drilling will remain headquartered in Indiana and its president Matt Boatman will stay in that role.

Restoration Builders, Inc. completed an asset purchase of Palazzo Restoration, LLC, acquiring Palazzo's online roofing sales business and bringing founder Tim Rimedio and his web-based sales process into Restoration Builders. The deal is intended to kick-start Restoration Builders' online sales efforts and expand that capability into additional geographic territories beginning in Q4 2021.

Restoration Builders, Inc., a Scottsdale-based restoration contractor network, has acquired Jagg, LLC, a Clayton, Indiana metal roofing fabrication and installation business. The deal expands Restoration Builders' service offering into metal roofing specialty services to support growth in the insurance restoration and roofing market.