DFW Capital Partners Recapitalizes B&A (Bart & Associates)

Bart & Associates Acquires Celestar

January 14, 2026

Government & Public Sector

Bart & Associates (B&A), a portfolio company of private equity firm DFW Capital Partners, has acquired Celestar Holdings Corporation, a Tampa-based multi-INT intelligence services and solutions provider. The add-on strengthens B&A's intelligence capabilities—adding HUMINT, SIGINT, IMINT, MASINT and OSINT—and positions the combined company to pursue larger opportunities across the defense and intelligence enterprise (NGA, DIA, Combatant Commands).

DFW Capital Partners Recapitalizes American Track

November 30, 2021

Industrial Services

DFW Capital Partners led a recapitalization of American Track, a Fort Worth-based provider of railroad inspection, maintenance, repair and construction services. The transaction represents an ownership transition from Hilltop Private Capital (and its capital partners) and is intended to support American Track's next stage of geographic and service expansion, including organic growth and add-on acquisitions.

DFW Capital Partners Invests in Harris CPAs

January 16, 2024

Accounting & Tax

DFW Capital Partners completed an investment in Harris CPAs, a Meridian, Idaho-based regional accounting firm that provides audit & assurance, tax, and advisory services. The investment includes the placement of DFW Operating Partner Michael J. O'Donnell as CEO and is intended to accelerate Harris's organic growth and support a strategy of partnering with other CPA firms and investing in technology and talent.

Strength Capital Partners and Neuberger Berman Recapitalize ESP Associates

July 9, 2025

Engineering Services

Strength Capital Partners closed a single-asset continuation vehicle to recapitalize ESP Associates, providing liquidity to Strength Capital’s existing investors and bringing in follow-on capital led by investment funds affiliated with Neuberger Berman. The transaction includes significant rollover by SCP and the ESP management team and is intended to fund organic growth and strategic add-on M&A to expand the platform’s geographic footprint and service offerings.

Acacia Partners Completes Majority Recapitalization of A&A Global Industries

June 7, 2023

Consumer Products

Acacia Partners, an Austin-based private investment firm, completed a majority recapitalization of A&A Global Industries, a nationwide distributor of novelty toys, candy, plush and redemption products that serves family entertainment centers, vending route operators, and amusement companies. The recapitalization provides A&A with permanent capital to support continued organic growth and pursue add-on acquisitions while enabling a generational transition for the family-owned business.

H.I.G. Capital Acquires Barton & Associates

August 1, 2022

Healthcare Services

H.I.G. Capital, through one of its affiliates, has completed the acquisition of Barton & Associates, a Peabody, Massachusetts-based healthcare staffing company focused on locum tenens with capabilities in travel nursing, allied healthcare, and government physician staffing. The transaction positions Barton to scale its operations and meet rising demand for temporary clinical staffing across hospitals, health systems and government facilities.