Acquisitions in Puerto Rico, United States

Firstsource Solutions Limited acquired TeleMedik, a Puerto Rico-based developer and implementer of healthcare technology solutions. The deal is intended to strengthen Firstsource’s end-to-end clinical and utilization management capabilities and expand its presence across U.S. healthcare payer and provider networks, including through TeleMedik’s operational footprint in Puerto Rico and across the United States.

Pinnaql, Inc., a portfolio company of 3 Boomerang Capital and an LSOMS Holdings, LP company, acquired Validation & Engineering Group, Inc. (VEG). VEG provides commissioning, qualification, and validation (CQV) services to pharmaceutical and life sciences manufacturers, and the deal expands Pinnaql/LSOMS’s compliance, quality, and regulatory consulting platform as an add-on acquisition.

EC Waste, backed by 3i Group plc, acquired ARB Inc., a local provider of waste collection and environmental-management services in Puerto Rico. The deal expands EC Waste’s residential, commercial, and industrial non-hazardous solid-waste capabilities, broadens geographic coverage, and supports continued digitalization and sustainability initiatives on the island.

Headlands Research acquired CMRCenter (CMRC), a clinical research site in San Juan, Puerto Rico. The acquisition expands Headlands’ clinical trial site network into Puerto Rico, adding an FDA-regulated patient population and strengthening enrollment capabilities for vaccine, CNS, and specialty clinical trials.

RM Capital Partners (RMC) completed the acquisition of Integrated Solar Operations d/b/a ISO Solar, a provider of turnkey solar energy systems serving residential, commercial, and government customers across Puerto Rico. ISO Solar founder Ralph Diaz will remain involved as a board member, and leadership will transition to new CEO Francisco González Ohárriz as the company pursues growth initiatives focused on energy resiliency and expanded solar services.

Thesis Capital Partners completed a recapitalization of Cadillac Services, a Bayamón, Puerto Rico-based provider of uniform rental and repair, commercial laundry, and dust control services. Seacoast Capital and Tamarix Capital Partners participated alongside Thesis (with Seacoast providing unitranche debt and preferred equity) and Cadillac management, delivering liquidity for certain shareholders and supporting Cadillac’s growth strategy; terms were not disclosed.

SEIDOR, a global technology consulting firm, acquired Argentis to accelerate expansion in the U.S. and Caribbean and strengthen its digital transformation and SAP Business One capabilities. Argentis, headquartered in San Juan, Puerto Rico, will operate as “SEIDOR Argentis” during a gradual integration period while retaining its full team and leadership continuity.

Modern Aviation closed the acquisition of Puerto Rico FBO LLC, an FBO operation at Fernando Luis Ribas Dominicci Airport (Isla Grande/TJIG) in San Juan, Puerto Rico. The business was acquired from the owners of Benitez Aviation and its affiliates and will be consolidated into Modern Aviation’s current operations under the Modern Aviation brand.

Guiding Tech Media announced it has acquired Alphr.com, a consumer technology-focused website. The transaction also includes a portfolio of related technology web properties, including TechJunkie.com and PlayerAssist.com, expanding Guiding Tech Media’s digital media footprint in the tech market.

bMedia Group received a significant ownership investment from Crestline Investors to accelerate growth, with existing investor Seaport Capital also contributing new equity. bMedia, Puerto Rico’s leading out-of-home media operator headquartered in San Juan, will continue to be led by its current management team.

Granicus, a GovTech customer experience platform provider for the public sector, acquired Rock Solid Technologies (Rock Solid Technology, Inc.), a SaaS provider of citizen engagement solutions including its OnePlatform suite. The deal expands Granicus’ footprint in Puerto Rico and Latin America and combines complementary capabilities across citizen engagement, 311 service request management, and public meetings management (including Swagit video production capabilities). Strattam Capital, which invested in Rock Solid in 2018, completed its sale of the company to Granicus.

UKG Inc. acquired Interboro Systems Corporation, a longtime reseller partner, to establish direct sales, services, and customer support for Puerto Rico and the broader Caribbean market. Interboro is headquartered in San Juan, Puerto Rico, and the transaction added nearly 70 employees to UKG focused on supporting the region. The acquisition closed in January, and CoView Capital, Inc. advised Interboro on the deal.

Taussig Capital acquired all of the voting shares of Spencer Re I.I., an international insurance company licensed in Puerto Rico. Following the acquisition, the business will be rebranded as Taussig Capital Re and will provide reinsurance and non-traditional insurance capital solutions to insurers and reinsurers.

Renovus Capital Partners’ portfolio company EDIC College merged with Columbia Central University (CCU) to create a combined institution that will operate under the Columbia Central University brand. The merged organization will serve more than 2,000 students across four campuses in Puerto Rico and an online platform, following required regulatory and accreditor approvals.

RIB Software made a majority growth investment in Integration Technologies (Intech), a managed solutions and services provider focused on hybrid data center, cybersecurity, and Microsoft cloud platforms in Puerto Rico and the Caribbean. As part of the transaction, RIB Software bought out Advent-Morro Equity Partners’ ownership stake in Intech. The investment is intended to help scale RIB’s cloud capabilities in the Americas and accelerate adoption of RIB’s MTWO vertical cloud platform for construction and real estate.