Acquisitions in Vermont, United States

Fiduciary Services Group (FSG), parent of DWC and PCS Retirement, acquired Future Planning Associates, Inc. (FPA), a Vermont-based third-party administration (TPA) and recordkeeping firm founded in 1974. FPA will integrate into DWC’s operational infrastructure while continuing to serve its clients, expanding FSG’s retirement services footprint in New England and supporting a technology modernization/recordkeeping transition.

Copley Equity Partners acquired Vital Delivery Solutions (VDS), a New England–based provider of healthcare logistics, courier, and warehousing services. VDS will continue operating under its existing brand and management team while leveraging Copley’s resources to expand service offerings and geographic coverage. Financial terms were not disclosed.

Grizzly MEP, a commercial mechanical, electrical and plumbing (MEP) platform backed by Garnett Station Partners, announced a new partnership with Vermont Mechanical Incorporated. Vermont Mechanical is a full-service mechanical contractor headquartered in Williston, Vermont (with a second office in Lebanon, New Hampshire), and the transaction expands Grizzly MEP’s presence into the New England market.

TransDigm Group Incorporated completed the acquisition of the Simmonds Precision Products, Inc. business of Goodrich Corporation from RTX Corporation for approximately $765 million in cash (including certain tax benefits). Simmonds designs and manufactures fuel & proximity sensing and structural health monitoring solutions for aerospace and defense markets and is headquartered in Vergennes, Vermont. TransDigm financed the transaction using cash on hand.

John Boos & Co. announced it has added JK Adams to its portfolio, bringing together two legacy brands focused on high-quality wooden kitchenware and food preparation products. JK Adams will retain its headquarters and staff in Dorset, Vermont, with the combination intended to expand product offerings and support shared innovation and sustainability initiatives.

Wealth Enhancement Group, a national independent wealth management firm, announced it has acquired Dempsey Investment Management, a registered investment adviser based in South Burlington, Vermont. Dempsey Investment Management oversees more than $150 million in client assets, and the deal expands Wealth Enhancement’s presence in the Northeast; financial terms were not disclosed.

Whitsons Culinary Group, an onsite food service management and prepared meals provider, acquired The Abbey Group. The deal expands Whitsons’ reach into new school communities across New England by adding The Abbey Group’s Vermont-based K-12-focused food service operations in the Northeast.

Better Being Co announced it is merging Honey Gardens, its apitherapy-focused brand, with ZAND Immunity, its nature-inspired supplement brand. The combined offering will be marketed as “Honey Gardens by ZAND Bee Therapy,” expanding whole-body wellness and immunity-support product lines while refreshing packaging.

Prosperity Partners, a Chicago-headquartered tax and accounting firm backed by Unity Partners LP, completed the acquisition of Danaher Attig & Plante (DAP), a South Burlington, Vermont-based CPA and tax advisory firm. The transaction expands Prosperity’s service capabilities and establishes a stronger presence in Vermont; financial terms were not disclosed. DAP’s current partners will remain actively involved in the combined business.

Hoffman Auto Group acquired the Burlington Subaru and Burlington Hyundai dealerships in Vermont from dealer group 802 Cars. Kerrigan Advisors served as the sell-side advisor to 802 Cars on the transaction, while 802 Cars will retain its Berlin, Vermont dealerships (802 Honda, 802 Toyota and 802 Subaru).

Portland Bolt & Manufacturing Co., LLC (Portland Bolt) has acquired Applied Bolting Technology (Applied Bolting), a Vermont-based manufacturer of Direct Tension Indicating (DTI) washers. The deal expands Portland Bolt’s geographic footprint and domestic manufacturing capabilities in structural and industrial bolting applications; Applied Bolting’s operations will remain in Bellows Falls, Vermont.

Blue Mantis acquired three Vermont-headquartered firms—TELigence Partners, Brevin Systems, and Calkins Networks—to expand its networking, carrier services, telecommunications, and managed services capabilities across the Northeastern United States. The transactions add nearly 200 customers and deepen Blue Mantis’ expertise in areas such as SD-WAN, network security, voice/messaging, and managed services.

Align Capital Partners-backed Custom Veterinary Services (CVS) acquired Green Mountain Animal, LLC (GMA), combining the two pet health products manufacturers into a broader platform spanning soft chews, powders, and liquid solutions. GMA will continue operating from Milton, Vermont, and the combined business is expected to rebrand as “CompletePet.”

Stewart's Shops Corp. completed the acquisition of the retail convenience store, wholesale dealer, and residential heating oil businesses of Jolley Associates LLC and S.B. Collins Inc. Jolley Associates operates 45 convenience stores across Vermont, New Hampshire, and New York, while S.B. Collins distributes gasoline and diesel to dealers in those states. Matrix Capital Markets Group advised Jolley Associates and S.B. Collins on the sale.

Investment funds managed by Morgan Stanley Capital Partners (MSCP) acquired FoodScience, a vertically integrated provider of pet and human nutritional supplements, from Wind Point Partners. FoodScience, headquartered in Williston, Vermont, formulates, manufactures, markets, and distributes supplements under the VetriScience, DaVinci, and Pet Naturals brands as well as private-label offerings. Sharon Rossi will continue as CEO under MSCP ownership.

ATIS, a portfolio company of Thompson Street Capital Partners (TSCP), acquired the assets of Vermont Elevator Inspection Services (VEIS). Founded in 2005, VEIS provides elevator inspection services across Vermont, and the transaction expands ATIS’ vertical transportation inspection and consulting footprint in the state. Financial terms were not disclosed.

Canto, a provider of digital asset management (DAM) software, acquired Image Relay, a Vermont-based SaaS company offering a unified DAM and product information management (PIM) platform. The deal expands Canto’s ability to deliver an integrated DAM+PIM solution for managing digital assets and associated product data; Image Relay founder and CEO Skye Chalmers will join Canto to help lead integration.

Original Clean Energy, a subsidiary of Clean Royalties, acquired iSun and its subsidiaries SunCommon and Liberty Electric. The deal follows iSun’s bankruptcy-court-approved sale to Siltstone Capital for $10 million and is positioned as part of a restructuring plan to restore financial stability and drive growth in solar and energy storage across northern New England and New York.

Hub International Limited acquired Essex Agency, Inc., an independent insurance agency specializing in personal and commercial insurance. Essex Agency’s team, led by President David Holton and Vice President John Handy, will join Hub International New England. Financial terms of the transaction were not disclosed.

Empowered Ventures, a 100% employee-owned holding company, acquired Benoure Plumbing, Heating & Air Conditioning, a residential and commercial mechanical contractor headquartered in South Burlington, Vermont. As part of the transaction, Benoure’s employees will join the Empowered Ventures ESOP, and Benoure will continue operating under President Brad Benoure with added resources to support growth.

Prince Industries, a portfolio company of HC Private Investments (HCPI), acquired Bradford Machine to expand its precision machining capabilities serving medical device as well as aerospace and defense end-markets. Bradford Machine is based in Brattleboro, Vermont, and operates a fully automated, tight-tolerance precision machining facility. Financial terms were not disclosed.

Dead River Company, a Maine-based full-service heating provider, acquired Bourne's, Inc. (Bourne's Energy), a propane, heating fuels, and wood pellets delivery business serving Vermont. The deal closed on February 1, 2024, with Cetane Associates acting as the sole arranger; financial terms were not disclosed.

Bowman Consulting Group Ltd. acquired Trudell Consulting Engineers and its wholly owned subsidiary Vermont Underground Locators (collectively TCE), a multi-disciplinary engineering firm based in Williston near Burlington, Vermont. The deal was financed with a mix of cash, seller notes, and equity, and all TCE employees will join Bowman as part of the transaction.

VC3, a managed service provider (MSP) delivering IT and cybersecurity services across North America, announced it has acquired DominionTech Inc., an IT services provider supporting businesses in Vermont and New Hampshire. The acquisition expands VC3’s presence in New England and adds DominionTech’s capabilities in managed/co-managed IT services, disaster recovery/business continuity, and cybersecurity.

AMF Holdings, LLC acquired US Aircraft Finance, LLC, a national provider of light aircraft lending and related loan origination, servicing, and insurance-related services. The transaction was structured as a management buyout, providing new ownership for the business following the passing of founder David Savoie. BaldwinClarke advised and represented USAF’s shareholders in the sale process.

IDEX Corporation entered into a definitive agreement to acquire STC Material Solutions from private equity firm Artemis for $206 million in cash (subject to customary post-closing adjustments) and later completed the transaction. STC is an advanced materials manufacturer specializing in technical ceramics and hermetic sealing products, headquartered in St. Albans, Vermont with additional operations in Santa Ana, California.

Lamoille Health Partners entered into an agreement to acquire Family Practice Associates, an independent primary care provider based in Cambridge, Vermont. Subject to final regulatory approval, the deal will add a third family medicine practice location to Lamoille Health Partners’ network and is expected to close in October 2023.

Spectris plc signed a purchase agreement to acquire the MicroStrain Sensing Systems Business for $37.6 million (£29.4 million). Based in Vermont, MicroStrain develops inertial and wireless sensing systems serving industrial and aerospace markets and will be integrated into Spectris Dynamics. The deal is subject to regulatory approval and is expected to close in the third quarter.

Wilson Allen, backed by Renovus Capital Partners through its parent group LAC + Wilson Allen, acquired the Intapp-solutions practice group of Aurora North, a Vermont-based software and services company. The deal adds Aurora North’s 27-member Intapp specialist team, methodologies, and service offerings to Wilson Allen’s Technology Services group, expanding its Intapp OnePlace implementation and optimization capabilities in North America and the UK. Aurora North will continue operating its remaining IP Software and Services division focused on the PracticeLink IP practice management software and related advisory services.

The Facilities Group (TFG), a portfolio company of Greenbriar Equity Group and Revolent Capital Solutions, partnered with JaniTech, a regional janitorial and facility maintenance provider headquartered in Colchester, Vermont. The transaction adds JaniTech as the fourteenth company to join TFG since inception, expanding TFG’s presence in Vermont and the broader New England market.

Amorepacific entered into a definitive agreement to acquire Tata's Natural Alchemy, LLC (Tata Harper), a luxury clean beauty skincare brand. The deal is expected to close in early 4Q 2022, and co-founder Tata Harper will continue to lead the brand as Amorepacific expands its global skincare footprint, particularly in North America.

Exaktera LLC, a portfolio company of Union Park Capital, acquired Advanced Illumination Inc., a designer and manufacturer of specialty LED lighting assemblies and drivers used in machine vision, industrial imaging, and biomedical imaging applications. The deal adds Advanced Illumination’s LED components, drivers, and strobe sources to Exaktera’s industrial technology and precision components portfolio. Financial terms were not disclosed.

Sensata Technologies agreed to acquire and subsequently completed the acquisition of Dynapower Company LLC from private equity firm Pfingsten Partners for $580 million in cash. Dynapower, headquartered in South Burlington, Vermont, designs and manufactures energy storage and power conversion systems used in renewable energy, green hydrogen, EV charging, microgrids, and industrial/defense applications. The transaction closed on July 12, 2022.

Irwin Naturals Inc. entered into a binding agreement to acquire the assets of Hobie Fuerstman D O PLC, doing business as Preventive Medicine, an integrative clinic operation based in Colchester, Vermont. The consideration will be a mix of cash and stock, with additional contingent payments tied to profitability and operational milestones, subject to customary closing conditions and regulatory approvals.

Camano Capital acquired a majority stake in Turtle Fur, a Morrisville, Vermont-based manufacturer and distributor of headwear and accessories for snow sports and lifestyle markets. Owner Richard Sontag will retain partial ownership, and financial terms were not disclosed. Venture 7 Advisors served as Turtle Fur’s exclusive advisor on the transaction.

Best in Class Technology Services (BCTS), a portfolio company of Dunes Point Capital, acquired Mountain Air Systems Holdings, Inc. Mountain Air provides commercial HVAC aftermarket services, including maintenance, repair and project work, and is headquartered in Williston, Vermont.

Hilb Group acquired Vermont-based Paige & Campbell, Inc., along with its subsidiary the Taylor Palmer Agency, expanding its presence across New England. Agency principals Steven and Jonathon Shea and their team will join Hilb Group’s New England regional operations. Hilb Group is a portfolio company of The Carlyle Group and continues to grow via strategic acquisitions.

KORE Power, Inc. acquired Northern Reliability Inc. (NRI) to create a vertically integrated energy storage solutions provider and launched a new division, KORE Solutions, to operate the combined storage integration business. The deal combines KORE Power’s battery cell manufacturing scale with NRI’s decades of energy storage engineering and project deployment experience; financial terms were not disclosed.

EnergyHub, a provider of distributed energy resource management solutions (DERMS), acquired Packetized Energy, a developer of software systems that enable flexible grid services from distributed energy resources. Packetized Energy’s Nimble platform and advanced load shaping and grid management capabilities will be integrated into EnergyHub’s Mercury DERMS to enhance virtual power plant management and provide deeper visibility into distribution network operations.

Turnstone Ventures acquired the historic 50-key The Shire Woodstock hotel in Woodstock, Vermont. Turnstone hired New York-based Life House Hotels to operate the property, marking Life House’s first hotel in Vermont.

NV5 Global, Inc. announced it is expected to acquire Optimal Energy, Inc., an energy efficiency consulting firm, with closing expected before December 31, 2021. The deal, funded with a combination of cash and stock, expands NV5’s energy efficiency and clean energy consulting capabilities across government and utility markets.

OneDigital announced it has acquired Kinney Pike Insurance, an independent insurance agency headquartered in Rutland, Vermont. The deal expands OneDigital’s property and casualty (P&C) presence, marking its first P&C office in the Northeast Region and adding Kinney Pike’s employee benefits and risk management capabilities and team to OneDigital.

iSun, Inc. (NASDAQ: ISUN) completed the acquisition of SunCommon, making SunCommon a wholly owned subsidiary of iSun Residential, Inc. The consideration included approximately $25.53 million in cash and 1,810,915 shares of iSun common stock, plus a $1.5 million working-capital infusion and potential earnout provisions. The deal is intended to expand iSun’s residential and small commercial solar footprint across the U.S. East Coast and generate operating synergies.

Xerox acquired Competitive Computing (C2) to expand its IT services business serving small and medium-sized businesses. C2 provides IT services to customers across New England and the United States and will join the Xerox IT Services team to broaden Xerox’s portfolio of IT and business services.

Parkway Capital, the mezzanine investment business of Calvert Street Capital Partners, made an investment in Phoenix Feeds & Nutrition (PFN). Parkway provided subordinated debt to lead a recapitalization, representing PFN’s first institutional capital. The transaction is intended to support PFN’s growth initiatives and expansion of operations.

DreamBox Learning signed a definitive agreement to acquire Reading Plus, an evidence-based adaptive online reading program for grades 3–12, expanding DreamBox beyond math into literacy/ELA. The transaction represents an exit for Avathon Capital, which invested in Reading Plus in 2019; Reading Plus is headquartered in Winooski, Vermont.

Averhealth, backed by Five Arrows Capital Partners, acquired Aspenti, a Burlington, Vermont-based healthcare company focused on substance use monitoring and care coordination. The deal expands Averhealth’s referral base beyond courts and social service agencies to include physicians, treatment centers, and healthcare systems, supporting broader continuity of care for substance use disorder patients.

Stonewall Kitchen, a specialty food and home goods producer headquartered in York, Maine, announced it has acquired Vermont Coffee Company of Middlebury, Vermont. Vermont Coffee Company produces certified organic arabica coffee and is a leading bagged organic coffee brand in grocery stores across the Northeast. The deal adds Vermont Coffee Company to Stonewall Kitchen’s portfolio of specialty brands and expands its premium coffee offering.

Copley Equity Partners completed a majority investment in North Star Leasing, an equipment financing and leasing solutions provider. North Star Leasing will continue to be led by CEO and President Daniel Feeney, and financial terms were not disclosed.

Peoples Bank acquired the assets of North Star Leasing, an equipment financing and leasing provider headquartered in Burlington, Vermont. The business was purchased from Copley Equity Partners and North Star Leasing’s management, and will expand Peoples Bank’s equipment leasing offerings to commercial clients.

Wind Point Partners, a Chicago-based private equity firm, acquired FoodScience Corporation, a Vermont-based formulator, manufacturer, and marketer of nutritional supplements for humans and pets. FoodScience, founded in 1973 and family-owned under Claudia Orlandi, sells supplements through brands including VetriScience, DaVinci, and Pet Naturals, along with private label and custom formulation offerings. Wind Point will partner with incumbent CEO Sharon Rossi and the existing management team to support the company’s next phase of growth.

Artemis Capital Partners, a Boston-based private equity firm, acquired Omega Optical, a manufacturer of precision optical filters and coatings headquartered in Brattleboro, Vermont. Omega’s existing management team retained a significant ownership interest and will continue to lead the business as Omega Optical, LLC. The transaction is positioned as the first investment in Artemis’s Optical Technology platform, supporting future inorganic growth via add-on acquisitions.

4FRNT Ski Company, a direct-to-consumer downhill ski manufacturer, was acquired by a group of private entrepreneurs: Charlie Johnson, Will Armenta and Ebi Lange, with the deal closing on July 31, 2020. Jason Levinthal sold the company, and financial terms were not disclosed.

Bear Down Brands, LLC, a portfolio company of Topspin Consumer Partners, acquired Verilux, a Vermont-based maker of healthy lighting products. Verilux will continue operating independently from Waitsfield, Vermont while collaborating with Bear Down Brands’ other consumer wellness brands to expand reach and product offerings.

MTBC, Inc. announced the closing of its acquisition of Meridian Medical Management, a former GE Healthcare IT company delivering healthcare information technology solutions and services. The transaction includes Meridian Billing Management and its affiliate Origin Healthcare Solutions and subsidiaries, expanding MTBC’s cloud-based healthcare IT, RPA, business intelligence, revenue cycle management, and EHR capabilities.

Energy New England LLC (ENE) has acquired Utility Services Inc. (USI), an international services organization that helps energy companies meet electric regulatory, reliability, and security standards obligations. USI will continue operating from its Waterbury, Vermont headquarters as a wholly owned subsidiary of ENE, expanding ENE’s NERC program advisory and compliance capabilities.

AE Industrial Partners, LP (AEI) acquired G.S. Precision, Inc., a manufacturer of complex, high-precision components and specialty hardware used primarily in aerospace engines and defense systems. Financial terms were not disclosed. G.S. Precision CEO Norm Schneeberger will remain in his role and continue as a significant shareholder following the transaction.

Clubessential Holdings acquired Vermont Systems, Inc. to expand its membership and club-management SaaS offerings into public-sector parks and recreation markets. Vermont Systems, headquartered in Essex Junction, Vermont, brings more than 1,200 customers and recreation management software for municipal, county, state, and federal entities to Clubessential Holdings’ portfolio.

Edgewater Capital Partners entered into an agreement to acquire Haematologic Technologies Incorporated (HTI), a provider of biologic products and GMP-compliant assay development and testing services for the biopharmaceutical industry. Haematologic Technologies supplies coagulation-related proteins, antibodies, and reagents, and provides bioanalytical services spanning early pre-clinical work through commercial biologics release and stability testing. Financial terms were not disclosed.

ASGARD Partners & Co. and Merit Capital Partners partnered to acquire the protective eyewear (optics) business of Revision Military Limited, including the Revision name/branding and the Essex, Vermont manufacturing facility and workforce. The transaction carves out the eyewear product line from Montreal-based Revision Military, Inc., creating a newly separated Revision eyewear business that will continue operations with its existing management and manufacturing team.

Ceres Natural Remedies, a Vermont-based CBD retailer and producer, announced it has acquired Vermont-based Tretap Beverage Company, maker of organic sparkling maple water beverages. The combination aligns both brands’ wellness and sustainability missions and is intended to support development of a new line of hemp-derived CBD-infused sparkling beverages and expand into the beverage market.

SharedLabs, Inc. acquired iTech US, Inc. and its wholly owned subsidiary SmartWorks, LLC, in a transaction announced by Woodbridge International (iTech’s M&A advisor). iTech, founded in 2001 and headquartered in South Burlington, Vermont, provides IT consulting services across the full IT life cycle, while SmartWorks specializes in software consulting and staffing/mentoring IT professionals in emerging technologies. iTech founder and CEO Kishore Khandavalli will take a board-level role with SharedLabs.

NFP acquired Hackett Valine & MacDonald, Inc. (HVM), a property & casualty and employee benefits brokerage and consulting firm. The transaction closed on May 1, 2015 and expands NFP Property & Casualty’s presence in the New England region, with HVM’s leadership team remaining in place.

JMAR Technologies Inc. completed the acquisition of all outstanding equity of Semiconductor Advanced Lithography Inc. (SAL) for approximately $4.5 million. SAL has been merged into JMAR/SAL NanoLithography Inc. (J-SAL), a wholly owned California-based subsidiary, expanding JMAR’s advanced X-ray lithography system capabilities.