Guardian Booth Acquires Homes by Keystone

Wind River Environmental Acquires Keystone Wastewater Services

October 27, 2025

Environmental Services

Wind River Environmental has acquired Keystone Wastewater Services, a 20+ year grease pumping and drain cleaning specialist operating in central Pennsylvania, Ohio, and Maryland. The acquisition expands Wind River's service footprint around Loretto, Pennsylvania and strengthens its commercial grease and wastewater service capabilities in the mid-Atlantic region.

Warburg Pincus Acquires Majority Stake in Keystone Agency Partners; Bain Capital Reinvests

July 16, 2025

Financial Services

Warburg Pincus will acquire a majority stake in Keystone Agency Partners through a private transaction. Bain Capital, which originally launched Keystone in 2020, will retain a minority position via a new investment from Bain Capital Insurance, and the deal is expected to close in Q3 2025 subject to regulatory approvals.

Keystone Cement Transitions to Independent Operations as Heidelberg Materials Acquires Giant Cement Holding

April 1, 2025

Building Products

Keystone Cement Company will transition to independent operations under newly formed Keystone Cement Holding, Inc., effective April 1, 2025, and will remain part of Fortaleza Materiales Group. The move occurs alongside Heidelberg Materials’ acquisition of Giant Cement Holding, Inc.; Keystone is excluded from that sale and will continue operating its cement, aggregates and resource recovery divisions with leadership continuity.

Argonne Capital Group Acquires Keystone Fireworks

September 11, 2023

Retail

Argonne Capital Group has acquired Keystone Fireworks, a Pennsylvania-based retailer that designs, imports and sells proprietary consumer fireworks through licensed stores. Alignment Credit acted as sole lead arranger and administrative agent for a senior secured credit facility to support the buyout and enable the company's future growth under Argonne's ownership.

House Foods Holding USA Acquires Keystone Natural Holdings from Keystone Capital

September 20, 2022

Food & Beverage

House Foods Holding USA, the North American subsidiary of House Foods Group Inc., has acquired Keystone Natural Holdings (KNH) from private equity firm Keystone Capital. The acquisition expands House Foods' portfolio of value-added tofu and plant-based products and supports accelerated U.S. market expansion, adding KNH's Folcroft, Pennsylvania manufacturing capabilities to House Foods' North American footprint.

Pye-Barker Fire & Safety Acquires Keystone Fire Protection Co. (KPI Holdings, Inc.)

August 19, 2021

Industrial Services

Pye-Barker Fire & Safety has acquired KPI Holdings, Inc., operating as Keystone Fire Protection Co., a fire and life safety services provider headquartered in North Wales, Pennsylvania. The acquisition expands Pye-Barker's national footprint and adds installation, inspection and maintenance capabilities in the Keystone Fire service area; owner John M. Lawlor and Lisa Lawlor will remain involved with the business.