Acquisitions in Hawaii, United States

AdaptHealth, a nationwide network of medical equipment providers, acquired Gammie HomeCare, a Hawaii-based durable medical equipment (DME) company. The transaction was one of four healthcare deals announced by Vertess Healthcare Advisors as part of its sell-side advisory closings in late 2025 and early 2026.

Marsh McLennan Agency acquired three Honolulu-based insurance brokerages—Atlas Insurance Agency, Pyramid Insurance Centre, and IC International—from Tradewind Group to expand its presence in Hawai‘i. The acquired firms will continue operating from their existing offices, with all employees joining Marsh McLennan Agency. Financial terms of the transaction were not disclosed.

Pye-Barker Fire & Safety acquired Lifeline Fire & Security, a Hawaii-based proactive video monitoring and security services provider. The deal marks Pye-Barker’s entry into Hawaii and expands its capabilities in AI-driven video verification, live operator intervention, and 24/7 monitoring solutions.

Resource Innovations (RI), a utility software and consulting platform and portfolio company of Morgan Stanley Capital Partners, acquired Shifted Energy, a Honolulu-based distributed-energy resource management system (DERMS) technology company. The deal combines RI’s turnkey demand-side management (DSM) program implementation and advisory capabilities with Shifted Energy’s Grid Maestro DERMS platform to deliver integrated grid-edge flexibility, virtual power plant, and managed technology services solutions for utilities.

Creative Planning, a national investment advisor, acquired Mosaic Pacific, a Hawaii-based financial advisory firm. Finalized on June 30, 2025, the transaction adds approximately $430 million in assets under management to Creative Planning and expands its wealth management presence in the Pacific region.

One Rock Capital Partners agreed to sell, and later completed the sale of, a majority stake in its portfolio company Island Energy Services, LLC to a newly formed partnership between First Reserve and funds managed by affiliates of Fortress Investment Group. One Rock retained a continuing minority investment in Island Energy Services following the transaction, which was announced June 2, 2025 and closed July 17, 2025. Island Energy Services operates an integrated fuel import, storage, pipeline and distribution network and a Texaco-branded retail fuel station and convenience store network in Hawaii.

Hotel Equities and Springboard Hospitality announced a strategic merger effective May 1, forming a larger hotel management company serving both branded and independent properties. The combined business will operate a broad portfolio across the United States, Canada, the Caribbean, and Latin America, with Ben Rafter named CEO of the combined company and Brad Rahinsky serving as chairman.

fifteenfortyseven Critical Systems Realty (1547) and Harrison Street acquired DRFortress, Hawaii’s largest carrier-neutral data center and cloud services provider, from GI Partners. The transaction brings DRFortress into 1547’s connectivity-focused digital infrastructure platform to support continued expansion across Hawaii and the broader Pacific region. DRFortress’ existing leadership team, including co-founders Fred Rodi and Rosa White, will remain in place to continue day-to-day operations.

Hope Bancorp, Inc., the holding company of Bank of Hope, completed its merger with Territorial Bancorp Inc., the holding company for Territorial Savings Bank, effective April 2, 2025. Following the transaction, Territorial Savings Bank will operate as “Territorial Savings,” a division of Bank of Hope. Under the merger agreement, Territorial shareholders are entitled to receive 0.8048 shares of Hope Bancorp common stock for each share of Territorial common stock.

Sojourner Consumer Partners made an investment in Hawaii Coffee Company, LLC and partnered with Anderson Holdings in connection with the formation of the SoJoe Coffee platform. Hawaii Coffee Company will continue to operate under its existing name and maintain its facilities and cafes across Hawaii. Financial terms were not disclosed.

PRA, a business events and destination management company, acquired Island Style Innovations, a Hawai‘i-based destination management and events/incentive program specialist founded in 2014. Island Style Innovations’ team will join the PRA Hawai‘i office led by Debbie Weil-Manuma and will rebrand as PRA as part of PRA’s ongoing expansion strategy; PRA is majority owned by investment funds managed by EagleTree Capital.

Alaska Air Group, Inc. completed its acquisition of Hawaiian Holdings, Inc., combining Alaska Airlines with Hawaiian Airlines to expand network reach and customer benefits, including access to oneworld Alliance connectivity. The airlines will initially operate as separate carriers while working toward a single FAA operating certificate and longer-term integration of systems and loyalty programs.

ChannelEngine, a marketplace integration and management software company, acquired Retail Data Partners, a US-based SaaS provider of tools for Amazon Vendor users. The deal expands ChannelEngine’s first-party (Amazon Vendor/1P) capabilities and enables customers to manage Amazon Vendor and Seller models in a single platform to support hybrid marketplace selling.

The Stephens Group, LLC completed a significant strategic investment in VisionSafe, LLC to accelerate the company’s growth in highly engineered, mission-critical aerospace safety systems. Kaneohe-based VisionSafe designs, develops, and manufactures proprietary cockpit smoke displacement systems and provides associated maintenance and service. The investment establishes VisionSafe as a new Stephens Group platform, with plans to expand R&D, certification, and go-to-market efforts while pursuing add-on acquisitions.

Pomare, Ltd., which operates under the Hilo Hattie trade name, was sold to Rain or Shine, Inc., owned by Josh Margolis. JANAS advised the seller and supported the transaction through its structure, financing, and completion despite COVID-19 and other disruptions.

IntelliBridge acquired RevaComm, Inc. (RVCM), a Honolulu, Hawaii-based digital transformation firm specializing in agile DevSecOps, cloud solutioning, cybersecurity, and human-centered design for U.S. federal civilian and defense customers. IntelliBridge is backed by private investment firm Enlightenment Capital, and the combination is intended to expand IntelliBridge’s secure, agile software and digital transformation capabilities and product offerings across federal agencies.

USI Insurance Services acquired Cavanah Associates, Inc., an independent insurance brokerage specializing in commercial and personal risk insurance programs. The deal establishes a Hawaii-based presence for USI and expands its local capabilities; financial terms were not disclosed.

424 Capital led the acquisition of Tritium3 Renewable Services (“Tritium”) of Honolulu, Hawaii on behalf of its portfolio company, QE Solar. The deal expands QE Solar’s operations and maintenance capabilities into utility-scale solar infrastructure and materially increases its presence in the Battery Energy Storage Systems (BESS) market. Tritium’s founder, Ryan McCauley, joined QE Solar’s leadership team as Vice President of Business Development.

Imperial Dade acquired Triple F Distributing, a Hawaii-based distributor of foodservice packaging, janitorial supplies, and sustainable packaging serving all Hawaiian islands. The deal (Imperial Dade’s 65th acquisition) expands Imperial Dade into Hawaii; financial terms were not disclosed, and Triple F’s management team will remain in place. Triple F was previously owned by Invision Diversified Holdings, LLC.

PRA, a business events management company, acquired Hawaii-based destination management firm Weil & Associates to expand its talent and reach in the Hawaiian incentive and events market. Weil & Associates founder Debbie Weil-Manuma will lead the rebranded PRA Hawai‘i. The deal is PRA’s first acquisition since its February 2023 acquisition by private equity firm EagleTree Capital.

ProService Hawaii, a provider of bundled HR solutions, announced that it has acquired Makai HR, an HR administration/PEO firm serving Hawaii-based employers. As part of the transaction, ProService will retain Makai HR’s staff and executive team to continue serving clients, and Makai’s clients will gain access to expanded offerings and technology development under ProService.

Silver Lake partnered with ProService’s management team and employee owners to make a new investment in ProService, a provider of bundled HR solutions (payroll, benefits, insurance, compliance, and risk management). The transaction enabled prior sponsor FFL Partners to exit its investment after a six-year partnership; financial terms were not disclosed.

ALKEME, a U.S. insurance brokerage, acquired ACW Group, a Honolulu, Hawaii-based insurance agency specializing in property and casualty solutions. The deal expands ALKEME’s presence into the Hawaii market and further strengthens its footprint in California through ACW Group’s offices in San Francisco and La Quinta.

BrightView Holdings, Inc. acquired Island Plant Company, LLC, a resort and condominium-focused commercial landscaping provider based in Maui, Hawaii. The deal expands BrightView’s presence in Hawaii’s growing commercial landscaping market; financial terms were not disclosed.

Outdoor Living Supply (OLS), a distributor focused on outdoor living and hardscapes products, acquired Geobunga, an independent distributor of garden elements, natural stone, pavers, bulk materials, and landscape supplies. Geobunga, headquartered in Honolulu, Hawaii, expands OLS’ footprint into the Hawaiian market, and founders Layla and Andrew Dedrick will continue in leadership roles post-acquisition.

CID Capital announced that its portfolio company, Giftcraft Ltd., has acquired RipSkirt Hawaii, Inc.; financial terms were not disclosed. Founded in 2017, RipSkirt Hawaii designs casual beachwear-inspired apparel and accessories sold primarily direct-to-consumer via its website. The acquisition is intended to accelerate Giftcraft’s direct-to-consumer and digital marketing capabilities.

Core & Main, Inc. entered into a definitive agreement and subsequently closed the acquisition of substantially all of the assets of Distributors, Inc., a full-service distributor of fire protection products and related fabrication services. Distributors, Inc. operates from Honolulu and serves fire protection contractors across Hawaii, expanding Core & Main’s fire protection footprint in the state.

BrightView Holdings, Inc. acquired SGS Hawaii, a commercial landscaping company headquartered in Wailuku, Hawaii with operations across Maui, the Big Island, and Kauai. SGS Hawaii specializes in resort and hotel-sector landscaping services, and the transaction terms were not disclosed.

SAS, a global AI and analytics software company, acquired Honolulu-based Kamakura Corporation, a privately held provider of risk management software, data, and consulting for financial institutions. The deal is intended to expand SAS’ cloud-ready risk management platform by integrating Kamakura’s asset-liability management (ALM), interest rate risk capabilities, and credit risk analytics/data services (including KRM and KRIS).

Kering Eyewear has signed an agreement to acquire Maui Jim, Inc., an independently owned high-end U.S. eyewear brand founded in 1987 in Hawaii. The deal is intended to complement Kering Eyewear’s portfolio and support Maui Jim’s global expansion, pending regulatory clearance with expected closing in the second half of 2022.

In February 2022, Trinity Investors (formerly Trinity Private Equity Group) partnered with RLG Capital to acquire Kamaka Air. Kamaka Air is an inter-island air cargo company headquartered in Honolulu, Hawaii, serving sub-five-ton air charter and air freight markets and acting as a subcontractor to major delivery companies including FedEx and UPS.

BrightView Holdings, Inc. announced it has acquired Performance Landscapes, a commercial landscaping company headquartered in Honolulu, Hawaii; financial terms were not disclosed. Performance Landscapes (founded in 2002) provides landscape maintenance, irrigation, enhancements, installation, arbor care, and pest control services, and its founders and leadership team will remain to support integration.

Gladstone Capital Corporation completed a senior debt and minority equity investment in WB Xcel Holdings, LLC (Xcel), a global surf brand and outdoor enthusiast company. The financing is intended to provide Xcel with greater balance sheet flexibility and capital to support growth initiatives and accelerate international expansion.

Core & Main, Inc. has completed its previously announced acquisition of Pacific Pipe Company, Inc., a distributor serving water, wastewater, storm drainage and irrigation customers. The deal expands Core & Main’s geographic footprint to Hawaii, where Pacific Pipe operates four locations.

CBB Bancorp, Inc. has completed its acquisition of Ohana Pacific Bank, a Honolulu, Hawaii-based bank operating two branches. Following the transaction, Ohana Pacific Bank will operate as a division of Commonwealth Business Bank (CBB), expanding CBB’s presence into the Hawaii market.

Hawaiian Cool Water, LLC (HCW) acquired AAA BestWater Co., Oahu’s oldest and largest residential water filtration and softener company. The deal expands HCW from commercial water filtration and purification systems into the whole-home residential water treatment market. AAA BestWater was previously owned and managed by Dennis and Suzy Betsinger.

VPLS, a cloud-to-edge computing and solutions provider, has acquired ZR Systems, an Aiea-based managed IT services company. The acquisition expands VPLS’s data center footprint into Hawaii and broadens the combined company’s managed IT and cloud service offerings for the Hawaiian market.

Hawaii American Water acquired the assets and operations of Waimea Wastewater Company, Inc., becoming the new regulated wastewater service provider for its customers on the Big Island of Hawaii. Waimea Wastewater Company is a wholly owned subsidiary of Parker Ranch and serves approximately 217 residential and commercial connections.

Revolent Capital Solutions, a strategic acquirer based in Tampa, partnered with Armstrong Building Maintenance, a commercial janitorial company headquartered in Honolulu, Hawaii. The Tokars family (including founder Tom Tokars) will continue to be involved, with Tokars remaining active in leadership as the business pursues growth.

GI Partners acquired a majority interest in DR Fortress, LLC in partnership with the company’s management team, including co-founders President Fred Rodi and CFO Rosa White. Headquartered in Honolulu, DR Fortress is Hawaii’s largest carrier-neutral data center operator, providing colocation, connectivity, and related data center services. The investment is intended to support DR Fortress’ growth and resiliency as digital infrastructure in Hawaii and across trans-Pacific networks expands.

Sysco Corporation acquired Hawaii-based fresh produce wholesalers and distributors Armstrong Produce and Kula Produce, which have approximately $155 million in combined annual revenue. The acquired businesses will operate as part of FreshPoint, Sysco's specialty produce company, with the existing executive leadership team and associates expected to be retained.

Kenex Holdings, a Chicago-based investment holding company, has acquired Bubbies Homemade Ice Cream & Desserts, an Aiea, Hawaii-based manufacturer of premium mochi ice cream founded in 1985. Founder Keith Robbins will remain a significant investor as Kenex backs the company’s next phase of growth, and Rick Schaffer has been hired to join Bubbies as CEO. Financial terms were not disclosed.