Acquisitions in Iowa, United States

Nicolet Bankshares, Inc. completed its merger with MidWestOne Financial Group, Inc., with MidWestOne merging into Nicolet as the surviving corporation. MidWestOne Bank will operate as a division of Nicolet National Bank until a planned system conversion in August 2026, after which MidWestOne’s 50+ locations are expected to transition to the Nicolet brand and digital platform. The combination adds approximately $6 billion in assets, bringing Nicolet’s total assets to about $15 billion based on initial financial data.

J.F. Lehman & Company (JFLCO), through an affiliate of JFL Equity Investor VI, L.P., acquired a majority shareholding in Wellman Dynamics, a Creston, Iowa-based manufacturer of large-scale magnesium and aluminum sand castings for aerospace and defense applications. TRM Equity II sold the majority interest and will retain a meaningful minority stake as JFLCO partners with Wellman for its next phase of growth. Financial terms were not disclosed.

Novae, a North American manufacturer of open and enclosed cargo trailers and truck bodies, has acquired Aluma, a long-standing aluminum trailer manufacturer founded in 1992. The transaction expands Novae’s aluminum product offering and strengthens its dealer-distributed portfolio across North America, with Aluma continuing to operate under CEO Mike Lloyd and its existing management team from its headquarters in Bancroft, Iowa.

Fusion Capital Partners acquired Excel Engineering (also referenced as Excel Testing and Engineering Holdings LLC), a Diagonal, Iowa-based testing and certification firm providing emissions, battery, durability, and specialty testing for engines, powertrains, and battery systems serving OEM and industrial customers. The transaction terms were not disclosed, and Excel will continue to operate under founder and CEO Doug Sobotka. Monroe Capital supported the deal by arranging a senior credit facility to fund the acquisition.

Baldwin Supply Company, a Midwest distributor of power transmission, conveyor belt, and other industrial supplies, acquired Construction & Aggregate Products, Inc. (CAP). CAP is a distributor of critical parts serving aggregate, mining, and construction customers with locations in Des Moines, Iowa and Lenexa, Kansas. The deal expands Baldwin Supply’s regional footprint and strengthens its OEM and MRO capabilities; it was effective December 29.

Amca, a Los Angeles-based aerospace and defense company, acquired Aerospace Control Products, Inc. (ACPI), a Davenport, Iowa manufacturer of flight-critical pressure and liquid-level switches and related sensing components. The deal expands Amca’s hydraulics-focused components platform and adds custom pressure measurement capabilities used across major commercial aircraft programs such as the Airbus A320 and Boeing 737 MAX. Shedd Capital advised on the transaction; financial terms were not disclosed, and ACPI president/former owner Aaron Ellis will remain involved in leadership during integration.

Solve Industrial Motion Group (Solve) announced it has acquired D&D Global, Inc., a vertically integrated U.S. manufacturer of power drive belts. D&D Global, headquartered in Rock Valley, Iowa, manufactures V-belts and timing belts and offers more than 35,000 belt configurations, expanding Solve’s manufacturing and power transmission capabilities.

Scorability acquired Ryzer, combining Scorability’s data-driven college sports recruiting software with Ryzer’s event registration and camp management platform. The combined company aims to create the largest integrated platform for college recruiting and athletic events, serving more than 4,000 college programs, tens of thousands of events, and millions of athletes. Ryzer President Michael Kahn will continue to lead Ryzer, and Tim Heath will serve as CFO of the combined organization.

Thirty31 Partners, a private equity firm based in Huxley, Iowa, acquired Jerry Carney & Sons, Inc., a family-owned auto parts and vehicle recycling business headquartered in Ames, Iowa. Founded in 1956, Jerry Carney & Sons will continue to operate under its current brand with existing management and staff as Thirty31 Partners supports long-term growth in the automotive aftermarket and recycling sectors.

John Jennerjohn and Brody Meier acquired McGrath Dubuque Harley-Davidson in Dubuque, Iowa from owners Mike McGrath and Pat McGrath. The buyers, who also own and operate Iron Hill Harley-Davidson in Waukon, Iowa, are expanding their regional dealership presence. Following the transaction, the dealership will be renamed Key City Harley-Davidson and will continue operating at its existing Dubuque location.

Plunkett's Pest Control, Inc. acquired Insect Control Specialists (ICS), a family-owned pest control business headquartered in Cedar Rapids, Iowa. The deal expands Plunkett's regional presence while maintaining ICS’s legacy of customer service and community trust; former ICS owner Leslie Parker cited shared values as a key reason for selecting Plunkett's.

Pet Butler franchise owner Patrick Lanigan acquired Bark 'N' Bin, a local pet waste removal business serving the Des Moines, Iowa area. The acquisition expands Pet Butler’s footprint in Iowa and transitions Bark 'N' Bin customers to Pet Butler’s national brand systems and support.

ALKEME Insurance announced the acquisition of Sheets Forrest Draper Insurance ("SFD Insurance"), an independent insurance agency headquartered in Marion, Iowa. The deal expands ALKEME’s Midwest presence and adds a fourth-generation, community-focused agency offering personal and commercial insurance lines.

Premier Tech, through its Water and Environment Business Group, acquired Karr's Septic Service of Vinton, Iowa. The deal expands Premier Tech Water and Environment’s septic services offering and time-of-transfer diagnostic services for homeowners across Eastern Iowa and broader Iowa markets.

ImOn Communications announced the completion of its acquisition of Danville Telecom after receiving all required regulatory approvals. Danville Telecom provides 100% fiber-optic telecommunications services in Danville and, through its subsidiary iConnectYou, offers broadband in several Southeast Iowa communities; the deal is intended to accelerate ImOn’s fiber expansion and next-generation service rollout in the region.

GreatWater 360 Auto Care acquired Cars, Trucks & Vans, a full-service auto repair shop in Davenport, Iowa, adding it to GreatWater’s growing network of community-focused repair locations. The shop will continue operating under its existing name with its current team, while gaining access to GreatWater’s resources, training, and operational support.

Inszone Insurance Services acquired LJ Insurance, Inc., an insurance agency specializing in life and health insurance. LJ Insurance is headquartered in Keokuk, Iowa with an additional office in Fort Madison, Iowa, and the deal expands Inszone’s presence and offerings in Iowa.

FBi Buildings announced it has acquired Eastern Iowa Building (EIB), effective July 1, 2025. The deal expands FBi Buildings’ footprint in Iowa while providing EIB added resources, operational support, and broader market reach. Eastern Iowa Building will maintain its operations and local presence in Fairfax, Iowa, and continue honoring existing warranties and repair services.

Alamo Group Inc. has completed the acquisition of Ring-O-Matic, Inc., a manufacturer of industrial vacuum excavation equipment. The deal was funded with Alamo Group’s cash on hand and is subject to customary net working capital closing adjustments. Ring-O-Matic is headquartered in Pella, Iowa and generated approximately $25 million of revenue in 2024.

Kingsgate Insurance announced it has acquired Calvert & Johnson Insurance Services, effective Monday. The deal expands Kingsgate’s team and service offerings in Fort Dodge and the surrounding communities, giving Calvert & Johnson clients access to broader insurance markets and additional risk management resources.

Apella Wealth announced that Iron Horse Wealth Management, a fee-only registered investment adviser led by founder Dennis Markway, has joined the firm, expanding Apella’s presence into Johnston, Iowa and the Midwest. The transaction closed on June 20, 2025, and added approximately $574 million in assets under management to Apella. Iron Horse’s entire team will join Apella, and Markway will become Regional Director.

RIM Enterprises, a global aircraft parts supplier headquartered in Marion, Iowa, merged with Oklahoma City-based Alliance Air Parts to form a combined business operating under the new name RIM Alliance. Alliance, an aircraft component supplier focused on teardown and distribution for business aviation aftermarket parts, had partnered with ACapitalFund in early 2024 to support growth. XLCS Partners served as exclusive advisor to RIM, and the transaction closed on June 12, 2025.

Superior Environmental Solutions (SES), a portfolio company of Palladium Equity Partners, acquired Captain Clean to expand SES’s industrial and environmental services footprint in Iowa and the broader Midwest. Captain Clean adds recurring industrial cleaning capabilities such as water blasting, power washing, industrial vacuuming/pumping, and ice blasting, strengthening SES’s service offering in agriculture and food processing markets. Financial terms were not disclosed.

The Kleinfelder Group, Inc., an engineering, design, construction management and environmental professional services firm backed by private equity firm Lindsay Goldberg, acquired Veenstra & Kimm, Inc. (V&K). Headquartered in West Des Moines, Iowa, V&K expands Kleinfelder’s geographic footprint and service capabilities across the Midwest, and will form Kleinfelder’s newly created Midwest Division led by V&K COO and Board Chair Steve Thompson.

CES Family of Companies (CES) acquired Bolton & Hay, a foodservice equipment, supplies, and service dealer based in Des Moines, Iowa. Following the transaction, Bolton & Hay will operate as a division of Wilson Restaurant Supply, expanding CES’ presence and foodservice dealer network in Iowa.

Pete & Gerry's Organics, LLC acquired Farmers Hen House, a privately held premium shell egg producer and marketer headquartered in Kalona, Iowa. The combination expands Pete & Gerry's network by adding more than 90 partner family farms and an Iowa processing facility, increasing packing capacity to support growing demand for Certified Humane, free-range, pasture-raised, and organic eggs. Financial terms were not disclosed.

Yelena and Alex Tovstanovsky of Sky Auto Mall acquired the Van Horn Ford and Van Horn Chevrolet dealerships in Newhall, Iowa from Van Horn Automotive Group. Following the transaction, the stores will be renamed Sky Ford and Sky Chevrolet and will continue operating at their existing Newhall location.

BridgePort Financial Solutions, a registered investment adviser (RIA) platform, completed two acquisitions in the fourth quarter of 2024: PearTree Advisory Group and Premier Wealth Advisors. The two acquired firms together represent more than $400 million in assets under advisement (AUA), further expanding BridgePort’s national advisory platform and succession-planning offering.

Building Products Inc. (BPI) acquired Heartland Millwork, a custom millwork manufacturer based in Larchwood, Iowa. The deal is effective immediately and is intended to expand BPI’s millwork offerings, improve operational efficiency through scale purchasing, and increase production capacity via equipment investments.

Flow Control Management (FCM), a private equity-backed holding company owned by The Edgewater Funds (Edgewater Growth Capital Partners V, L.P.), acquired Master Packing & Rubber Company (MPRC). Founded in 1982 and headquartered in Cedar Rapids, Iowa, MPRC manufactures and supplies gaskets and seals serving agricultural transport and processing markets; the deal expands FCM’s MRO gasket and seal product offering and strengthens its presence in the agriculture value chain.

Granite Creek Capital Partners acquired Ritchie Industries, Inc., a manufacturer of automated livestock watering products. The transaction was supported by an investment from Rural American Fund, alongside a rollover investment from Ritchie’s management and employees.

Waverly Advisors, LLC acquired Dickinson Investment Advisors, a Council Bluffs, Iowa-based investment advisory firm, expanding Waverly’s presence into the Iowa market. The transaction closed on January 10, 2025 and represents Waverly’s 21st acquisition since receiving an equity investment from Wealth Partners Capital Group and HGGC’s Aspire Holdings platform; financial terms were not disclosed.

Benford Capital Partners announced the sale of Pasture Brands, the holding company formed to acquire specialty egg producer Farmers Hen House and yogurt brand Pillars Yogurt. The transaction closed on January 9, 2025, marking Benford Capital’s exit after a three-year investment.

ALKEME, a Top 35 insurance brokerage, announced the acquisition of Relion Insurance Solutions, one of Iowa's largest insurance agencies. The deal expands ALKEME’s presence into the Midwest region and allows Relion to leverage ALKEME’s resources to enhance its service offerings while continuing to serve its local communities.

Dynamic Tube Inc., a custom tube fabrication and precision-machining supplier, has been acquired by Innovative Fluid Handling Group (IFH Group). IFH Group is a portfolio company of The Mendota Group, and TKO Miller served as exclusive investment banking advisor to Dynamic Tube on the sale.

Hidden Harbor Capital Partners acquired Norplex Micarta from Industrial Dielectrics Holdings, Inc.; terms were not disclosed. Norplex Micarta, headquartered in Postville, Iowa, manufactures high-performance thermoset composite materials serving electrification and industrial end markets. Stellus Capital Management provided senior/unitranche debt financing to support the transaction.

Brava Roof Tile ("Brava"), a manufacturer of composite roofing tiles made from recycled materials, announced a growth investment from private equity firm Golden Gate Capital. Brava’s management team will continue to lead the company and remain significant shareholders, and the company will remain headquartered in Washington, Iowa. Proceeds are intended to support production capacity expansion and other growth initiatives; financial terms were not disclosed.

Baker Manufacturing Company, LLC, a portfolio company of Blue Sage Capital, acquired the Pump Division of A.Y. McDonald Mfg. Co. The deal includes A.Y. McDonald’s full pump product line (e.g., submersible, booster, jet, sump pumps and pressure tanks) and is intended to expand Baker’s Water Systems offerings and market coverage.

Eximia Research, an integrated clinical trial network, acquired Integrated Clinical Trial Services, Inc. (ICTS) to expand its footprint into Iowa. ICTS is a dedicated research clinic based in West Des Moines that conducts clinical trials across multiple therapeutic areas, and its addition strengthens Eximia’s ability to broaden patient access to clinical research in the Midwest and nationwide.

Corporate Technologies, a Tonka Bay Equity Partners portfolio company, acquired RSPN, a managed service provider delivering IT managed services, hosted services, and project support to SMB customers in the Cedar Falls/Waterloo area of Iowa. The deal marks Corporate Technologies’ second acquisition since Tonka Bay acquired the company in July 2023 and expands Corporate Technologies’ national footprint to 17 markets across twelve states.

Consolidated Equipment Group, LLC (CEG), a portfolio company of Dominus Capital, acquired Agile Manufacturing Group, LLC (operating as Agile Manufacturing). Agile manufactures agricultural, industrial, and construction material-handling attachments such as front-end loaders, grapples, and buckets. The deal is an add-on acquisition within CEG’s buy-and-build strategy, and Agile founder Mike Feilmeier will continue in a leadership role within the CEG platform.

On October 1, 2024, Sound Growth Partners (SGP) acquired Stueve Construction, LLC, a market-leading provider of engineering, design, and construction services for bulk fertilizer storage facilities and fertilizer storage solutions. The transaction was financed through SGP’s “One-Stop Buyout” structure, with Brookside Capital Partners and Capitala Group providing unitranche debt and equity co-investments (along with other investors) to support the buyout and future growth.

WealthPlan Partners, a national registered investment adviser, announced it has acquired EFS Wealth Management Group, a comprehensive wealth management firm founded in 1991. EFS, which serves over 500 clients with approximately $360 million in assets under management, will expand WealthPlan’s presence in the Midwest, and EFS founder Marc Geels will lead WealthPlan’s ultra-high-net-worth/private wealth development.

HBM Holdings acquired Calcium Products, Inc., a manufacturer and distributor of calcium-based agricultural fertilizers serving row and specialty crop growers and the professional turf industry. Calcium Products, founded in 1987 and headquartered in Ames, Iowa, was sold by an affiliate of Sun Capital Partners; transaction terms were not disclosed. The existing Calcium Products leadership team, led by CEO Mike Hogan, will remain in place following the acquisition.

EVO Transportation & Energy Services acquired Midwest-based truckload carrier and brokerage West Side Transport, adding a 550-truck truckload fleet and expanding EVO’s footprint and customer mix beyond its historically USPS-focused business. West Side Transport will continue operating as an autonomous division, with COO Ron Joseph promoted to president and founder Don Vogt serving as a board observer/adviser. WhiteHawk Capital Partners and Antara Capital (EVO’s largest shareholder) provided debt and equity financing; deal terms were not disclosed.

CropX acquired EnGeniousAg, a startup focused on advanced nitrogen sensing applications for agriculture. CropX plans to integrate EnGeniousAg’s patented in-field nitrogen measurement technology into its agronomic farm management system to improve precision nitrogen fertilizer management and sustainability outcomes for growers.

Midwest Growth Partners III, L.P. (MGP) announced that its portfolio company French Gourmet has merged with ShellsbyDesign. The combination brings together French Gourmet’s artisanal frozen pastry manufacturing with ShellsbyDesign’s frozen tart shells and ready-to-eat frozen desserts to expand product offerings and geographic reach.

Koch Ag & Energy Solutions (KAES) completed the acquisition of OCI Global’s Iowa Fertilizer Company LLC (IFCO), a large-scale nitrogen fertilizer and diesel exhaust fluid facility located in Wever, Iowa. The transaction, announced in December 2023, closed after regulatory and shareholder approvals and was valued at approximately $3.6 billion on a cash-free, debt-free basis.

Summit Fire Protection Co., a subsidiary of SFP Holding, Inc. (Summit Companies), acquired General Fire and Safety Company of Polk County, Inc. (d/b/a General Fire and Safety Equipment Company), effective August 13, 2024. The deal expands Summit Fire Protection’s fire and life safety service offerings in Iowa, including fire alarms, suppression systems, kitchen systems, extinguishers, and monitoring.

The 20, a managed service provider (MSP) growth platform based in Texas, acquired Collabrance, LLC, a master managed IT services provider headquartered in Cedar Rapids, Iowa. Collabrance was founded by GreatAmerica Financial Services, which is selling its Collabrance subsidiary in the transaction. Collabrance will continue operating under its existing brand and The 20 is retaining all Collabrance employees.

Árachas Group, an independent insurance and risk management company and a platform partner of Keystone Agency Partners (KAP), acquired Paladin Group, a trucking-focused insurance agency based in Cedar Falls, Iowa. The deal expands Árachas Group’s trucking division, adds new technology capabilities, and brings approximately 50 Paladin employees into the combined organization. Former Paladin CEO Corey Schatz will become President of Árachas Group’s trucking division.

Navigate, a wellbeing and employee engagement technology company, acquired Health Solutions, LLC effective July 1, 2024. Health Solutions, a clinically driven corporate wellness provider headquartered in Cedar Rapids, Iowa, will form a new Health Solutions Services Business Unit within Navigate, led by founder Dr. Jennifer Musick as Vice President.

Inverness Graham Green Light Fund completed its third investment with a majority recapitalization of My Yield. My Yield, headquartered in Oelwein, Iowa, provides specialty seed treatment formulations, application systems, and agronomic support solutions to growers. Terms of the transaction were not disclosed.

Technology Acquisition Capital LLC has acquired Seven Verbs LLC, a management consultancy specializing in custom software development. Following the acquisition, Technology Acquisition Capital founder Marcus Kyriakopoulos was appointed CEO of Seven Verbs, while Seven Verbs founder Bob Sorensen will step back from day-to-day operations and remain as an advisor. The deal supports Technology Acquisition Capital’s strategy of acquiring and optimizing technology-focused businesses.

Arthur J. Gallagher & Co. announced it has acquired Acumen Advisors, Inc., an employee benefits consulting firm based in Cedar Rapids, Iowa. Financial terms were not disclosed. Acumen’s leadership team will remain with the business under Gallagher’s Midwest region employee benefits consulting operations.

Brookfield Reinsurance announced that its previously announced acquisition of American Equity Investment Life Holding Company (AEL) is expected to close following market close on May 2, 2024. AEL is an annuity and retirement-focused life insurance company headquartered in West Des Moines, Iowa.

Webspec, a Des Moines-based digital agency, has acquired Covenant, a Drupal development firm and agency with a national client base. The deal expands Webspec’s Drupal expertise and customer relationships while keeping Covenant’s headquarters and operations in Iowa.

Pretium has agreed to acquire BH Management Services, a property management platform serving multifamily, student, and single-family housing. Following closing (expected early in the second quarter), BH will become a Pretium operating company, continue to operate under its current name, and remain headquartered in Des Moines, Iowa under CEO Joanna Zabriskie.

Aureon announced it has acquired the cloud and managed IT clients of Northwest Communications Inc., a subsidiary of Northwest Communications Cooperative Association. The deal transfers commercial clients in northwest Iowa to Aureon as it expands its managed services footprint in the Midwest. Financial terms were not disclosed.

Arthur J. Gallagher & Co. announced it has acquired Horak Insurance, Inc., a retail property/casualty insurance agency based in Washington, Iowa. Financial terms were not disclosed, and Horak’s leadership and team will remain in their current locations under Gallagher’s Midwest region retail P/C brokerage operations.

CIVC Partners, LP made an investment in HR Green in partnership with the company’s management team and current shareholders to support continued growth. HR Green provides infrastructure design, engineering, and consulting services across multiple end markets, and CIVC’s capital and resources are intended to help execute the company’s growth strategy.

Cyprium Partners completed an investment in OneroRx Inc., providing subordinated debt and minority common equity. The capital will support OneroRx's acquisition strategy and future growth as it expands integrated pharmacy services and medical supplies across underserved communities in the Midwest.

Maxwell Street Capital Partners announced an investment in The Integration Group (TIG), a contract logistics and industrial supply chain aftermarket services company. The partnership is intended to support TIG’s growth, including organic expansion and potential strategic acquisitions, with Maxwell Street partners joining TIG’s board.

Pure Hockey acquired hockey retailer JT's Slap Shot, based in Urbandale, Iowa, marking Pure Hockey's first entry into the Iowa market. The deal expands Pure Hockey’s nationwide retail footprint and integrates JT's Slap Shot into Pure Hockey’s network of stores and e-commerce operations.

Groome Industrial Service Group acquired W-S Companies, an industrial and mechanical services provider headquartered in Council Bluffs, Iowa. Groome is backed by Argosy Private Equity, and the transaction was supported with financing including subordinated debt and an equity co-investment from Seacoast Capital and Ironwood Capital.

Mercer Global Advisors, Inc. ("Mercer Advisors") announced it has acquired Veerkloh, LLC d/b/a River Glen Wealth Counselors, a comprehensive wealth management firm based in West Des Moines, Iowa. River Glen, founded in 2008 by Matt Busick, serves about 160 clients with approximately $275 million in AUM; the deal expands Mercer Advisors’ presence in the Central United States.

Bain Capital Insurance is investing $200 million to launch The Mutual Group, a new insurance services platform for mutual insurers, via the acquisition of GuideOne Insurance Company’s operational platform. GuideOne will remain an independent mutual insurer owned by its policyholders and will become The Mutual Group’s inaugural member, using the proceeds to strengthen its balance sheet and support growth.

Navigate Wellbeing Solutions, an employee engagement and wellbeing technology company, partnered with McCarthy Capital to accelerate growth. The investment will support product and technology development, team expansion, and provide resources to expand Navigate’s reach and pursue accretive acquisitions.

National Carwash Solutions (NCS) announced the acquisition of Panaram International Trading Co., which operates under the brand USAtowl/USA Towel (formerly Carwashworld). The deal expands NCS’s bundled solutions for carwash operators across North America by adding industrial washer-extractors and customized towel products, and includes USAtowl/USA Towel CEO Juliette Silver joining NCS’s sales team.

WF Cabinetry Group, a portfolio company of HCI Equity Partners, acquired Woodharbor Molding & Millworks, Inc., a manufacturer of custom cabinetry and vanities based in Mason City, Iowa. The deal expands WF Cabinetry’s cabinetry platform and product portfolio; financial terms were not disclosed. Patriot Capital provided subordinated debt and an equity co-investment to support the add-on acquisition, and Greenwich Capital Group advised Woodharbor on the sale.

Pye-Barker Fire & Safety acquired Iowa Fire Equipment Company, expanding its fire protection and life safety services footprint across the Midwest and Florida. The deal adds five new locations, secures the Iowa market, and enables Pye-Barker to enter Indiana, bringing its network to more than 170 locations across 40 states.

Modern Wealth Management, a national registered investment advisory firm, acquired the assets of Midwest Financial, a Glidden, Iowa-based wealth management firm. Midwest Financial will be integrated into the Modern Wealth platform and brand, with its team joining Modern Wealth to expand service offerings and support continued growth; deal terms were not disclosed.

Merx Truck & Trailer, a provider of truck and trailer repair and maintenance services, acquired Majestic Truck Services, a truck service company based in Altoona, Iowa. The deal expands Merx’s footprint in the Des Moines market and integrates Majestic’s truck and trailer body and collision repair operations into Merx’s multi-site network. Transaction terms were not disclosed.

AFC Industries acquired White Distribution & Supply, LLC (WDS), a provider of production fasteners, packaging, adhesives, safety products, production consumables and other MRO items along with inventory management and LEAN solutions. WDS was a portfolio company of Slate Capital Group, while AFC Industries is a portfolio company of Bertram Capital; terms were not disclosed and the transaction closed on June 1, 2023.

Eagle Point Software acquired CADLearning from 4D Technologies, purchasing CADLearning’s businesses including intellectual property and digital assets and taking over support for CADLearning clients. CADLearning customers will initially continue using the CADLearning platform and content, with plans over time to gain access to additional Eagle Point Pinnacle Series resources and functionality.

Redwood Logistics acquired Rockfarm Supply Chain Solutions and Global Distribution and Logistics (collectively “Rockfarm”) to strengthen its modern 4PL services and tech-enabled managed transportation capabilities. The deal expands Redwood’s offerings in transportation management, logistics execution, freight visibility, and adds international freight forwarding, trade compliance, and customs brokerage capabilities. Rockfarm’s Dubuque, Iowa operations will continue as a Redwood logistics center and Rockfarm’s leadership and employees will remain with the combined business.

Smash Park Entertainment Group announced a significant minority growth investment from DCA Partners. The capital will support Smash Park’s expansion of its indoor/outdoor “eatertainment” venues across the United States, with new locations under construction in Minneapolis and Omaha.

Wealth Enhancement Group announced the acquisition of Heacock & Jones Financial Services, Inc., an independent registered investment advisor (RIA) based in Dubuque, Iowa. Heacock & Jones oversees more than $355 million in client assets, and the deal increases Wealth Enhancement Group's total client assets to more than $66.8 billion while expanding its presence in Iowa.

accūrō Solutions acquired Splashlight Solutions, a national workers’ compensation medical bill review service provider based in West Des Moines, Iowa. The deal expands accūrō’s resources and capabilities supporting medical bill review and payment processes for payers in the property and casualty market; financial terms were not disclosed.

Maverik – Adventure's First Stop, together with its parent company FJ Management, announced it will acquire Kum & Go, a family-owned convenience store chain with more than 400 locations across 13 states, from Krause Group. As part of the same transaction, Maverik will also acquire Solar Transport, a tank truck carrier and logistics provider owned by Krause Group. Financial terms were not disclosed and the deal is expected to close in the coming months subject to customary conditions.

Core & Main Inc. has completed the acquisition of substantially all of the assets of Midwest Pipe Supply Inc., a distributor of drainage and waterworks products headquartered in Clear Lake, Iowa. The deal expands Core & Main’s drainage and waterworks distribution footprint in Iowa and adds Midwest Pipe Supply’s contractor, municipal, and agriculture customer base to Core & Main’s network.

Madison Capital Partners announced an investment in Global Filter. Global Filter, headquartered in Cedar Rapids, Iowa, designs and manufactures validated filtration solutions for customers across markets including food & beverage, pharmaceuticals, chemicals, and oil & gas.

Active Interest Media (AIM) announced the acquisition of the assets of Kovels, Inc., a long-standing antiques and collectibles media brand. The deal brings Kovels into AIM’s Collectibles Group alongside Antique Trader to create a more comprehensive resource for collectors, including price guides, a monthly magazine, and online content.

World Insurance Associates LLC acquired Sagacity Benefits of Burlington, Iowa on July 1, 2022; financial terms were not disclosed. Sagacity Benefits provides consulting for employer-based benefits and specializes in health benefits platforms for companies of all sizes.

Eastern Communications Ltd. acquired RACOM Corporation, an emergency communications service and technology provider. The combination creates a nationwide mission-critical communications service and distribution platform with 16 service locations spanning from Seattle to New York City.

Basepoint Tax & Accounting, a subsidiary of Basepoint Wealth, LLC, acquired Ledger Plus of Cedar Rapids to expand its tax and accounting services footprint in Eastern Iowa. The deal builds on Basepoint’s recent accounting firm mergers and supports its strategy of delivering coordinated tax planning and investment management under one roof.

Isoray, Inc. completed an all-stock merger with privately held Viewpoint Molecular Targeting, Inc., combining their radiopharmaceutical and imaging technology capabilities to advance precision oncology treatments. The transaction became effective February 3, 2023, with Viewpoint shareholders receiving 136,545,075 shares (about 49%) of Isoray’s outstanding common stock and no meaningful cash consideration paid.

LFM Capital announced it has invested in APQS, adding the company as the fourth portfolio company in LFM’s third fund. APQS designs and manufactures longarm quilting machines and is headquartered in Carroll, Iowa.

Ferrero Group agreed to acquire Wells Enterprises Inc., the U.S. ice cream maker behind brands including Blue Bunny, Blue Ribbon Classics, Bomb Pop, and Halo Top, as part of Ferrero’s strategy to expand in North America and in the ice cream category. The transaction was announced in December 2022, expected to close in early 2023, and was later completed at the end of January 2023; Wells is expected to operate as a stand-alone business headquartered in Le Mars, Iowa.

Kamps, Inc., a national pallet services company backed by private equity firm Freeman Spogli & Co., acquired Realm Companies, LLC from Great Range Capital. Iowa-headquartered Realm provides pallet manufacturing, recovery and recycling, and—through its WestWind Logistics subsidiary—freight, reverse logistics and on-site pallet services, expanding Kamps’ Midwest capabilities and footprint.

Deveron Corp. acquired all of the assets of Frontier Labs Inc., a soil lab and agronomy company serving Iowa and Minnesota. Consideration included an initial US$825,000 cash payment, additional deferred cash payments, and issuance of Deveron common shares over time.

Iowa American Water, a subsidiary of American Water, acquired the City of Blue Grass wastewater system for $2 million following approval by the Iowa Utilities Board. The acquisition adds approximately 750 wastewater customers to Iowa American Water’s Iowa Quad Cities service area and represents the company’s first sewer system operation in Iowa.

Savant Wealth Management announced it has acquired Cedar Rapids, Iowa-based World Trend Financial, a registered investment advisor with approximately $730 million in AUM, and Terry Lockridge & Dunn (TLD), a provider of tax, accounting, payroll, valuation, and consulting services. The acquisitions expand Savant’s presence into Iowa and add 37 employees, with Terry Lockridge & Dunn joining Savant’s tax and consulting affiliate.

Modern Aviation closed the acquisition of the fixed-base operator (FBO) assets and operations at Des Moines International Airport from Elliott Aviation, expanding Modern’s footprint into the Midwest. The deal adds a 17-acre leasehold Des Moines location to Modern Aviation’s network, while Elliott Aviation will continue operating its maintenance, repair, and overhaul (MRO) business on the airfield.

Citizens Financial Group, Inc. entered into a definitive agreement to acquire College Raptor, Inc., an online college planning platform headquartered in Iowa City, Iowa. Following closing (targeted for the fourth quarter of 2022), College Raptor will operate as a wholly owned subsidiary of Citizens; financial terms were not disclosed.

BenefitMall acquired Mutual Med, an insurance distributor headquartered in Davenport, Iowa, that provides sales counseling and support for benefits agents across large group, small group, and individual markets. Mutual Med will operate as a division of BenefitMall under its current name and leadership, expanding BenefitMall’s carrier relationships and voluntary benefits offerings and strengthening its presence in the Midwest.

PremiStar acquired Mechanical Service, Inc. (MSI), a commercial HVAC contractor based in Iowa City, Iowa. The acquisition expands PremiStar’s service offerings and footprint in Iowa across commercial, industrial, health care, education, retail, municipal, government, and senior living end markets. MSI President Randy Staab will continue to lead the business under PremiStar’s ownership.

Calero-MDSL, a technology expense management (TEM) software provider and portfolio company of Riverside Partners and Oak Hill Capital Partners, acquired Network Control, a boutique telecom expense management and managed mobility software and services provider. Network Control will continue to operate from Waverly, Iowa, and its owner/CEO Mark Hearn will join Calero-MDSL as Vice President and General Manager of the Network Control business unit. Financial terms were not disclosed.

TRM Equity II acquired all of the equity of WDC Acquisition LLC, operating as Wellman Dynamics, in a transaction that closed on July 29, 2022. Wellman Dynamics is an aerospace supplier that manufactures large-scale magnesium and aluminum castings for defense and commercial aerospace markets and is based in Creston, Iowa.

Albert Lea Seed House announced it has acquired Blue River Organic Seed from Farmers Business Network (FBN). The deal expands Albert Lea Seed’s organic seed portfolio and scale, combining the Viking and Blue River Organic seed brands to enhance distribution and product selection for organic farmers across the United States.