Acquisitions in Wisconsin, United States

Innovia Consulting, a Microsoft Dynamics 365 Business Central consultancy, announced it has acquired 365Vertical and 365 Cannabis, two Microsoft partners focused on industry-specific ERP and business management solutions. The deal expands Innovia’s vertical-market portfolio and adds domain expertise in regulated industries including cannabis, agriculture, and manufacturing.

Keller, a design-build general contractor headquartered in Kaukauna, Wisconsin, acquired Hoffman Planning, Design & Construction, Inc., a design and construction management firm based in Appleton. Hoffman will operate as “A Keller Company” while keeping its brand and remaining operationally independent, with leadership changes including former owner Sam Statz moving to business development and Chad Ulman leading Hoffman going forward.

Terex Corporation completed its merger with REV Group to form a combined specialty equipment manufacturer with complementary product lines across specialty vehicles and equipment serving end markets including emergency services, waste and recycling, utilities, and construction. Following closing, REV Group shares ceased trading and the combined company continues trading on the NYSE as Terex Corporation (NYSE: TEX). The companies expect the combination to generate $75 million of run-rate synergies by 2028, with about half expected to be achieved over the next 12 months.

ProClip USA announced the acquisition of INOVATIV, a premium cart and workflow support systems brand used by creative and technical professionals. The combination is intended to accelerate product development, integrate complementary mounting and mobility technologies, and expand into additional professional industries.

KI Wall, a division of KI, announced the acquisition of Custom Glass Products, LLC–Wisconsin (CGP-WI), a Wausau, Wisconsin-based glass fabricator. The deal is intended to strengthen KI Wall’s fabrication alignment and capabilities for storefront and glass-intensive architectural wall system applications. CGP-WI will continue to operate as a standalone business with no changes to customer relationships or day-to-day operations.

Source One Staffing acquired regional staffing firm TempsNow to expand its Midwest footprint and strengthen coverage in industrial end markets such as manufacturing, logistics, warehousing, and related light industrial roles. The combined organization will continue operating under the Source One Staffing brand, with TempsNow employees joining Source One; financial terms were not disclosed.

HPS/PayMedix, a healthcare financing and payments solutions provider, closed $33 million in combined equity and debt financing to accelerate national growth of its PayMedix platform. HLM Investment Partners led a $16 million growth equity investment joined by Escalate Capital Partners, RVM Enterprises, and existing investor SV Health Investors, while Escalate also provided a $17 million term debt facility.

PPC Flex, a North American flexible packaging manufacturer sponsored by GTCR, announced it has acquired the United States operations of SÜDPACK. The acquired business includes SÜDPACK’s US facilities in Oak Creek, Wisconsin, adding flexographic printing/conversion and cold-seal technology capabilities and expanding PPC Flex’s manufacturing footprint across consumer and healthcare packaged goods end markets.

PPC acquired NaturPak (IPMF, LLC), a co-manufacturer and co-packer producing bone broths, soups, sauces, wet pet food, and ingredient products, including using the Tetra Recart packaging format. PPC is investing alongside NaturPak’s management team, with CEO Aaron Jackson continuing to lead the business. Trivest Partners is referenced as a prior capital partner, and transaction terms were not disclosed.

Bank First Corporation completed its acquisition of Centre 1 Bancorp, Inc., the parent company of The First National Bank and Trust Company. Following the closing, First National Bank and Trust will operate as a division of Bank First until a planned system conversion in May 2026, after which locations will transition to the unified Bank First brand and digital banking platform. The combined organization will operate 38 branches across Wisconsin and the Stateline area of Illinois and will expand Bank First’s offerings to include trust and wealth management services.

LongueVue Capital (LVC) announced a partnership with Saelens, a precision manufacturing platform focused on highly automated CNC machining and strategic/global sourcing for OEM customers across industrial end markets. Saelens, founded in 1974 and headquartered in Johnson Creek, Wisconsin, operates two manufacturing facilities in Wisconsin and serves customers under the Diamond Precision Products and Coupling Nut Supply trade names, with global sourcing via its Lembak Global Sourcing subsidiary.

Kunes Auto & RV Group announced the acquisition of RV dealership businesses Quietwoods RV and Scenic RV, including multiple store locations across Wisconsin. The acquired locations will be rebranded as Kunes Quietwoods RV and Kunes Scenic RV (with some sites merging into existing Kunes RV locations), and Kunes will retain all existing staff while expanding inventory, service, and storage capabilities statewide.

Value Added Distributors (VAD) acquired L.T.L. Supply (LTL), a Green Bay, Wisconsin-based manufacturer and distributor of custom wire harnesses and electrical assemblies. The deal expands VAD’s manufacturing capabilities and electrical solutions offering, and represents VAD’s first acquisition since partnering with Rotunda Capital Partners in 2024.

School Specialty, LLC announced it has acquired Nasco Education U.S., a developer and distributor of instructional materials and specialized learning products for the preK-12 market. The combination is intended to expand product breadth and create procurement efficiencies for school customers, with the two organizations operating independently in the near term and integrating gradually.

The FNA Group acquired Allparts Equipment & Accessories (APEA) to expand its parts and accessories portfolio and strengthen distribution reach across North America. The deal supports FNA’s aftermarket strategy across pressure washers, pumps, and outdoor power equipment by adding Allparts’ replacement-parts catalog, technical support capabilities, and high-velocity fulfillment operations.

Gerard Daniel Worldwide (GDW), a portfolio company of Graycliff Partners LP, acquired Durex Products, Inc., a manufacturer of high-performance urethane wear parts and screening/screen media products for aggregate, mining, recycling, and other industrial markets. Durex is headquartered in Luck, Wisconsin and will continue operating its Wisconsin facility as GDW expands manufacturing capabilities and distribution reach across North America and Europe. Borgman Capital sold Durex Products, which it had acquired in December 2021; financial terms were not disclosed.

Pelican Energy Partners acquired Hanna Cylinders, a Pleasant Prairie, Wisconsin-based manufacturer of precision-engineered hydraulic and pneumatic cylinders for high-performance industrial applications. Pelican will position Hanna as a strategic platform investment focused on specialized manufacturing and equipment suppliers serving critical nuclear infrastructure and broader energy and industrial markets. Hanna will continue to operate under its existing name and brand with its current management team.

PaperWorks Industries Inc. acquired Color Craft Graphic Arts, a folding-carton packaging producer founded in 1929 and headquartered in Manitowoc, Wisconsin. The deal expands PaperWorks’ integrated folding carton network, adding Color Craft’s facility and approximately 120 employees, and aligns with PaperWorks’ growth strategy and mill/facility footprint. Color Craft, a portfolio company of First Capital Partners, was advised by Mesirow as exclusive financial advisor.

AFM Capital Partners’ portfolio company Pro Products Holdings LLC acquired Owens Industries, LLC as an add-on acquisition. Owens Industries, headquartered in Oak Creek, Wisconsin, provides ultra-precision, high mix/low volume CNC machining solutions for mission-critical applications, serving customers across aerospace & defense and space markets.

TricorBraun, a global packaging leader, acquired Craft Beverage Warehouse, a Milwaukee-headquartered specialist provider of digital printing for canned beverage companies. The deal expands TricorBraun’s North American beverage packaging and digital printing capabilities, with Craft Beverage Warehouse expected to operate under its name until early 2026 before being fully integrated into TricorBraun’s CanSource business. Financial terms were not disclosed.

NOVO Health Services, an Atlanta-based healthcare linen management company, announced it has acquired Madison United Healthcare Linen (MUHL), a Wisconsin-based cooperative serving hospitals and clinics across the state. The acquisition expands NOVO Health’s Midwest footprint and leverages MUHL’s existing infrastructure to enhance service capabilities focused on infection prevention and patient safety.

Merit Financial Advisors acquired Mennenga Tax & Financial, a Madison, Wisconsin-based wealth management and tax planning firm, adding approximately $715 million in client assets and expanding Merit's tax and holistic planning capabilities. Founder Marshall Mennenga and more than 35 employees (including 20 Enrolled Agents) will join Merit. The deal closed on October 31, 2025, with FP Transitions advising; financial terms were not disclosed.

Vance Street Capital, a Los Angeles-based private equity firm, partnered with (acquired a stake in) Molded Rubber and Plastic Corporation (MRPC), a family-owned, ISO 13485-certified medical device contract manufacturer. Headquartered in Butler, Wisconsin, MRPC provides end-to-end medical device lifecycle support including silicone and thermoplastic molding, cleanroom assembly, packaging, and sterilization management. Transaction terms were not disclosed, and MRPC’s CEO Greg Riemer will continue to lead the business.

Chad Richardson acquired Louisburg Garage, a multi-franchise Chrysler Dodge Jeep Ram dealership located in Cuba City, Wisconsin. The business was sold by Mike Timmerman and the Mary Ann Timmerman Survivors Trust, with Performance Brokerage Services serving as exclusive sell-side advisor. Following the transaction, the dealership will be renamed Richardson Motors Wisconsin, Inc.

GenNx360 Capital Partners, in partnership with the management team, closed the acquisition of Heartland Business Systems (HBS) from A&M Capital Opportunities (AMCO). HBS is an IT services provider headquartered in Little Chute, Wisconsin, serving commercial and public sector clients across the Midwestern United States with offerings spanning infrastructure, cloud, cybersecurity, applications, collaboration, and managed services.

Edelman Financial Engines (EFE) announced it has acquired Hasenberg Financial Group, an Eau Claire, Wisconsin-based financial advisory firm led by founder Chris Hasenberg. Hasenberg Financial Group provides comprehensive financial advisory services with an emphasis on estate planning and financial education events and manages more than $300 million for over 750 clients. The firm will become fully integrated and continue operations under the EFE brand.

A.P. Nonweiler Company, Inc. announced it has acquired Res-Tek, Inc., a manufacturer of seamless resinous flooring systems for commercial and industrial environments. The combination is intended to expand and streamline the companies’ coatings portfolios, improve scalability and operational efficiency, and accelerate product innovation across residential, commercial, and industrial markets.

95 Percent Group LLC, a portfolio company of Leeds Equity Partners, acquired All About Learning Press Inc., a provider of structured, multisensory literacy programs for homeschool families and educators. The deal expands 95 Percent Group’s offerings beyond classroom-focused literacy solutions into the homeschool market, adding products such as All About Reading, All About Spelling, and All About Math.

Tsunami Express Car Wash, backed by an affiliate of Point72 Private Investments, closed the acquisition of 53 Take 5 Car Wash locations from Whistle Express Car Wash. The deal significantly expands Tsunami Express’s Midwest footprint, bringing its total to 74 locations across nine states, and includes plans to rebrand and upgrade the acquired sites with Tsunami’s CleanTech experience.

Vannguard Utility Partners has partnered with Trivest Partners in a platform investment through the Trivest Recognition Fund. Vannguard will continue to be led by founder and CEO Randy Bern as the company pursues continued growth in contract utility locating and damage prevention services across the Midwest and beyond.

Bluespring Wealth Partners added New Wall Street, a Green Bay, Wisconsin-based wealth management firm, to its platform. New Wall Street, a Kestra Financial firm led by co-founders Bernie Van Eperen and Chris Battle, oversees approximately $135 million in assets under management and will join Bluespring’s network of partner firms.

Agility Retail Group, a partner company of San Francisco Equity Partners, acquired Infinity Retail Services, a Wisconsin-based designer and manufacturer of retail fixtures and displays focused primarily on the telecom channel. Infinity founders Kevin and Wendy Jansen retained significant equity and the existing management team will continue to operate the business; financial terms were not disclosed.

SensorHubb (Fides Food Service Solutions LLC) acquired OneEvent Technologies, Inc., a Wisconsin-based temperature monitoring hardware provider, in a deal that closed on July 31, 2025. The transaction expands SensorHubb’s geographic footprint and adds hardware design/manufacturing capabilities to support an end-to-end environmental monitoring and AI-powered predictive analytics offering.

Mrs. Gerry's Kitchen, a portfolio company of Sequel Holdings, acquired Garden-Fresh Foods. Garden-Fresh Foods manufactures branded and private label refrigerated prepared foods and operates a production facility in Milwaukee, Wisconsin. Alantra acted as exclusive financial advisor to Garden-Fresh Foods on the sell-side, and members of the Hughes family and CEO John Colapinto will remain involved in management post-transaction.

Pella Corporation acquired Weather Shield, a premium manufacturer of architectural wood and aluminum window and door solutions headquartered in Medford, Wisconsin. The transaction combines two window-and-door industry players to accelerate growth in the premium segment; financial terms were not disclosed. Northborne Partners served as exclusive financial advisor to Weather Shield, which is described as a Schield family-built business.

Potawatomi Ventures acquired Lyons Electric, a full-service commercial and industrial electrical contractor headquartered in Delafield, Wisconsin. The deal expands Potawatomi Ventures’ Emerging Technologies Group and broader energy services platform, with Lyons Electric’s existing leadership expected to remain in place and operations continuing uninterrupted.

Superior Environmental Solutions (SES), a portfolio company of Palladium Equity Partners, acquired Hydroblasters Inc., an industrial and environmental services provider headquartered in Wisconsin Rapids, Wisconsin. The deal expands SES’s footprint in Wisconsin and the broader Midwest and represents SES’s 10th acquisition overall and its 4th since Palladium’s ownership began; financial terms were not disclosed.

Atlas, a next-generation wealth management firm, acquired Central Wealth Management (CWM), a Madison, Wisconsin-based registered investment advisor (RIA). Following the acquisition, CWM will operate fully under the Atlas brand while maintaining its Wisconsin office, and the combined firm surpasses $230 million in assets under management. CWM founder Eric Heiting and the full CWM team join Atlas, with Heiting becoming President and Head of Wealth Management.

Spartan Fastener acquired American Jebco, a supplier and cold-heading manufacturer of specialty fasteners and rivets. The deal expands Spartan Fastener’s product portfolio and manufacturing capabilities and strengthens its position in key North American markets including automotive, construction/hardware, and fire safety equipment. Financial terms were not disclosed and American Jebco’s key leadership will remain in place.

TedPack LLC, a Chinese flexible packaging manufacturer, acquired the flexible packaging business operations of Fairview International LLC effective July 1, 2025. The deal establishes TedPack’s first United States subsidiary and headquarters in Port Washington, Wisconsin, and transitions Fairview’s existing customer relationships and staff to TedPack’s management.

VisiQuate, an AI-powered revenue cycle management (RCM) company, acquired Etyon, a healthcare technology company specializing in RCM machine learning, domain-specific algorithms, and data tokenization. The deal is intended to enhance VisiQuate’s Ana Intelligence Suite with Etyon’s predictive models and denial-prevention capabilities to improve denials management, workflow automation, and real-time operational guidance for healthcare providers.

White Cap Supply Holdings LLC (White Cap) completed its previously announced acquisition of the business of Advanced Fastening Supply (AFS). AFS is a Wisconsin-based supplier of fasteners, tools, safety products and related accessories serving commercial and residential end markets, and its business will be integrated into White Cap’s suite of brands, branches, and value-added services.

GreyLion, a U.S. private equity firm, made a strategic equity investment in Torginol, a Sheboygan, Wisconsin-based manufacturer and marketer of decorative flakes, quartz, and related materials used in resinous flooring systems. As part of the transaction, Torginol chairman and owner Tom Testwuide Jr. will retire, while CEO Jason LaBouve and the existing team will continue to lead the business with GreyLion’s support to accelerate growth initiatives.

Merit Financial Advisors, a Georgia-based wealth management firm, acquired AMP Wealth Management, an RIA based in Whitefish Bay, Wisconsin. The deal expands Merit’s Midwest footprint with its seventh Wisconsin office and adds approximately $365 million in assets, while integrating AMP’s dividend-focused, GIPS-compliant investment strategy into Merit’s platform. The transaction was finalized on June 24, 2025; financial terms were not disclosed.

Greenix Pest Control announced the acquisition of Rove Pest Control's Milwaukee, Wisconsin operations. The deal expands Greenix’s residential pest control footprint in the Midwest and increases its overall service presence to 19 states.

Milwaukee Capital Partners LLC (MCP) acquired MPP Group LLC in an all-cash transaction effective May 1, 2025, with Concordia University Ventures (CU Ventures) also investing alongside MCP. MPP Group will remain headquartered in Mequon, Wisconsin, and will use the capital to expand its pharmaceutical contract analytical services and product research and development capabilities, particularly for injectable drug products.

GetixHealth, LLC, a portfolio company of H.I.G. Capital, completed the acquisition of Americollect, Inc., a provider of patient engagement solutions for healthcare providers. Americollect is headquartered in Manitowoc, Wisconsin, and the deal is intended to strengthen GetixHealth’s revenue cycle management and patient financial experience capabilities.

Walkner Condon Financial Advisors acquired King Financial Group, a wealth management firm based in Verona, Wisconsin. The deal expands Walkner Condon’s Madison-area footprint to a third office and retains King Financial’s team, led by founder Andy King, to continue serving clients from the Verona location.

Professional Credit Service (PCS), a Tonka Bay Equity Partners partner company, acquired Elevate Medical Solutions to expand PCS’s revenue cycle management capabilities into medical coding, denial management, and audit services. Elevate Medical Solutions, founded in 2019 and headquartered in Madison, Wisconsin, will continue operating with its leadership team as PCS broadens its service offerings to hospitals, clinics, and other healthcare providers.

Kunes Auto & RV Group announced the acquisition of Griffin Chevrolet, a Chevrolet dealership located in Milwaukee, Wisconsin. The deal expands Kunes' Milwaukee presence and strengthens its longstanding partnership with General Motors' Chevrolet brand as part of its broader Midwest dealership growth strategy.

Soundcore Capital Partners made a majority investment in Ridge Top Exteriors, a residential exterior home remodeling and repair services provider headquartered in Madison, Wisconsin. Concurrently, Soundcore launched TrussPoint Roofing & Exterior Renovations as a new platform focused on residential home exterior services and appointed Chad Colony as CEO. Financial terms were not disclosed.

PowerGEM, LLC acquired Marquette Energy Analytics, LLC (MEA), adding natural gas and electric power demand forecasting software and services to its power grid and energy market simulation platform. MEA’s cloud-based MCast forecasting suite and related consulting services expand PowerGEM’s product portfolio for utility operational and long-term planning needs. Financial terms were not disclosed.

SaaS Opportunity Capital (SOC), a Midwest-based private equity firm, acquired Celera Systems, a workflow software platform for financial services marketing, sales enablement, and compliant print/digital order fulfillment. Celera’s technology has historically been distributed exclusively by Toppan Merrill as “Merrill Connect,” and SOC plans to expand the platform’s availability directly to a broader set of financial services enterprises while maintaining the Toppan Merrill partnership for bundled offerings.

SRM Equity Partners (SRM) has acquired RF Technologies (RFT), a provider of safety, security, and real-time location system (RTLS) solutions serving healthcare and senior living markets. The transaction became effective June 5, 2025, and RFT founder Glen Jonas will remain involved as Non-Executive Chairman while the existing management team continues under SRM ownership.

Buscar Company acquired a 70% equity stake in Armorgenix Company via a strategic stock swap. The deal expands Buscar’s portfolio into pharmaceuticals, adding Armorgenix’s detoxification and antiviral products (including DetoxShield) and positioning the subsidiary for planned U.S. manufacturing and IP expansion.

Amplifi, a data and AI consultancy based in Dallas, Texas, announced the acquisition of Snow Fox Data, a Wisconsin-based AI and analytics consulting firm. The deal expands Amplifi’s capabilities across data engineering, analytics, data science, and AI consulting, with Snow Fox Data co-founder Ryan Moore joining Amplifi as SVP, AI and Analytics.

Ahlstrom Oyj completed its acquisition of the Stevens Point facility, a high-end solutions provider serving food and consumer packaging and e-commerce applications. The Stevens Point operation, located in Wisconsin, adds finishing and coating technologies, premium products, and approximately 260 employees, strengthening Ahlstrom’s Food & Consumer Packaging division and North American market coverage.

Main Street Capital Corporation completed a new portfolio investment to facilitate the minority recapitalization of Doral Corporation, a Midwest-based specialty contractor. Main Street funded $42.5 million through a combination of first lien, senior secured term debt and a direct equity investment, partnering with Doral’s existing owner.

Recovery.com announced the acquisition of Madison-based AI startup RedFox AI to expand responsible AI innovation and develop new AI-powered tools for mental health and addiction recovery. RedFox AI’s conversational technology and its cofounders, Nick Myers and Brett Brooks, will join Recovery.com to help integrate and scale AI capabilities across the platform.

Crest Rock Partners made a strategic growth investment in Productive Programming Inc. (PPi), a Verona, Wisconsin-based provider of care management, EHR, claims processing, and TPA software and tech-enabled services via its Care Compass platform. The investment is intended to accelerate product development and expand PPi’s software and service solutions nationwide, with PPi’s founder and executive team also investing alongside Crest Rock.

All World Machinery Supply, a manufacturer based in Roscoe, acquired CNC Solutions, a robotics integration and machine-tending automation company headquartered in Johnson Creek, Wisconsin. The deal builds on prior partnerships between the companies and expands All World's ability to deliver turnkey automation cells combining robotics integration with its existing workholding and hydraulic power solutions.

Provident announced a merger with Precision Flexo & Gravure ("Precision") to expand and enhance service offerings across North America’s printing sector, combining complementary flexographic and gravure pressroom capabilities. Anderson & Vreeland, Inc., the parent company of Provident, indicated the combined Precision-Provident offering will strengthen market position and broaden products, services, and technical support.

E Source, a utilities-focused research, data science, and consulting platform backed by Align Capital Partners, acquired ILLUME Advising, a boutique research, strategy, and program evaluation consultancy serving the utility/energy sector. The deal expands E Source’s program evaluation and people-centered research capabilities to deliver deeper customer insights and more tailored solutions for utility clients. ILLUME will operate semi-independently during an integration period.

Madison Industries’ indoor air quality platform Madison Air acquired Research Products Corporation (RPC), the Madison, Wisconsin-based maker of indoor air solutions and brands including AprilAire. The deal adds RPC’s residential and commercial healthy-air offerings to Madison Air’s broader air solutions portfolio.

Heartland Paving Partners acquired Poblocki Paving Corporation, a Wisconsin-based provider of asphalt and concrete paving, maintenance, and repair services. The deal expands Heartland’s presence in the Upper Midwest and supports its strategy of building a superregional pavement solutions provider. Heartland Paving Partners is a platform investment of Soundcore Capital Partners, and Poblocki will operate as “Poblocki Paving, a Heartland Paving Partner.”

Republic Services acquired Wisconsin-based private haulers Town & Country Sanitation and Peterson Sanitation, effective May 1. The related companies provide residential, commercial, and roll-off waste collection plus recycling services across Southwest and South Central Wisconsin and Northeast Iowa, expanding Republic’s existing hauling and post-collection footprint in the Midwest.

Express Elevator acquired Ascend Elevator, an independent elevator service provider headquartered in Brown Deer, Wisconsin, with the transaction effective April 4, 2025. The acquisition expands Express Elevator’s service footprint and strengthens its presence in the Milwaukee area. Express Elevator operates as a division of Elevator Service Inc. (ESI), which supports independent elevator service providers with resources and investment.

Lewis & Clark Capital’s acquisition vehicle, CMS, LLC, acquired Wisconsin-based ChemRite CoPac, a full-service contract manufacturer providing formulation, blending/filling, and packaging services from FDA-registered facilities. The deal is CMS’s second acquisition following its purchase of PCI, LLC in late 2023; financial terms were not disclosed.

The Gellert Global Group agreed to acquire 100% of Heartisan Foods, a Barron, Wisconsin-based manufacturer and distributor of branded and private-label specialty and flavored cheese products. Heartisan Foods was sold by its private equity owners Ronin Equity Partners and Landon Capital Partners, and will complement Gellert Global’s specialty cheese operations under its subsidiary Atalanta Corporation.

Association Headquarters (AH) acquired Association Executives Group (AEG), a Wisconsin-based association management firm. AEG will integrate into AH's operations while maintaining its brand, client relationships, and team, and will operate as “Association Executives Group, an Association Headquarters Company.”

Redwood Services announced that it has partnered with Cardinal Heating, Cooling, Plumbing, & Electric, a second-generation residential HVAC, plumbing, and electrical services provider in the Madison, Wisconsin market. As part of the transaction, Cardinal’s owners (Rick, Sharon, Craig, and Keith Ouimette) will retain a significant minority ownership stake and continue to operate the business under the Cardinal name, with Redwood providing operational, strategic, and financial support.

Bevco Engineering Company, Inc., an electrical control systems designer and manufacturer, has been acquired by IEWC, a global supplier and distributor of wire, cable, and wire management products. TKO Miller initiated the transaction and served as Bevco’s exclusive investment banking advisor throughout the sale process.

EVI Industries, Inc. acquired Girbau North America, Inc. (GNA), a master distributor and provider of commercial and industrial laundry solutions headquartered in Oshkosh, Wisconsin. The transaction, completed April 1, 2025, is EVI’s largest acquisition and strengthens its North American distribution, service, and OEM partner network for commercial laundry equipment and related parts and services. GNA will continue operating under the Girbau North America name with its existing management team and ongoing promotion of Girbau-manufactured products across its distributor network.

Bradford White Corporation announced the acquisition of Universal Technologies of Wisconsin, Inc., Bock Water Heaters, Inc., and Tank Technology, Inc., which are collectively known as Bock Water Heaters. The acquired businesses, based in Wisconsin, manufacture commercial and specialty water heating and storage products, including oil-fired water heating products and commercial condensing gas-fired water heaters, expanding Bradford White’s U.S. manufacturing capacity and product offering.

Bluespring Wealth Partners has acquired Charter Capital Management (CCM), a wealth management and financial advisory firm based in Brookfield, Wisconsin. CCM oversees more than $400 million in assets under management and will leverage Bluespring’s platform resources and succession planning support to enhance its client service capabilities.

Greenix Pest Control acquired Spidexx Pest Control’s Milwaukee, Wisconsin office, expanding Greenix’s presence in the Milwaukee market. The sellers were Spidexx owners Coleman Spaulding, Taylor Spaulding, and Ryan Coleman, who said the sale allows them to focus on their core markets while transitioning the Milwaukee location to Greenix.

Quest Products, LLC, a portfolio company of Promus Equity Partners, acquired Beyond Health, P.A., the owner of the Doctor Butler's hemorrhoid and self-care OTC brand. The deal expands Quest Products’ Digestive Health platform and strengthens its consumer healthcare and over-the-counter self-care product portfolio. J.P. Morgan Chase & Company provided a senior credit facility; financial terms were not disclosed.

Merit Capital Partners invested in Carl's Place, LLC in partnership with Fulton Capital and the company’s President and Founder, Carl Markestad. Headquartered in Milton, Wisconsin, Carl's Place manufactures and distributes customizable golf simulator packages and related proprietary products. Merit’s investment included both equity and subordinated debt to support the company’s growth.

Beary Landscaping, a portfolio company of Silver Oak Services Partners LLC, acquired MJS Landscaping Services. The deal expands Beary’s recurring commercial landscaping footprint in Wisconsin and strengthens its ability to provide landscape management, snow removal, and design/build services across the Midwest.

Sage Sustainable Electronics, a portfolio company of Closed Loop Partners, acquired IT asset disposition (ITAD) provider Cascade Asset Management to expand Sage’s end-to-end hardware lifecycle, reuse, refurbishment, demanufacturing and disposition capabilities. The bolt-on deal, completed through Closed Loop Partners’ buyout private equity group, expands Sage’s geographic footprint and helps position Sage as one of the largest pure-play ITAD service providers in the United States.

JTS, an integrated marketing services provider, acquired Madison-based AM Solutions as part of its strategic growth plan, alongside a rebrand that drops “Direct” from its name. AM Solutions’ Edgerton facility will remain fully operational, and JTS plans to leverage AM Solutions’ high-speed inkjet, large-format printing, and intelligent inserting capabilities to expand its multi-channel marketing offerings.

Clarion Safety Systems acquired McLoone Metal Graphics on February 5, 2025. McLoone, headquartered in La Crosse, Wisconsin, manufactures custom-printed industrial nameplates, labels, ID plates, and other metal identification/graphic solutions. The deal expands Clarion Safety’s visual safety, compliance, and identification product capabilities while both businesses continue operating under their existing brand names.

CollisionRight acquired the seven-shop multi-shop operator (MSO) Mander Collision and Glass in the Milwaukee, Wisconsin area, one of CollisionRight’s largest deals to date. The transaction expands CollisionRight’s nationwide footprint to 115 shops and includes Southeastern Wisconsin’s largest repair shop. Mander Collision and Glass will continue operating under its existing brand while gaining operational support from CollisionRight.

FNA Group announced it has acquired Kent Investment Corporation, a manufacturer and supplier in the professional carpet cleaning industry. The deal expands FNA Group’s product portfolio and enables immediate entry into indoor cleaning markets, adding carpet extraction equipment, accessories, and cleaning solutions to its offerings.

MERIT, a global clinical trial endpoint and technology services provider, acquired Madison-based OSOD, LLC. The acquisition expands MERIT’s capabilities in early-stage (preclinical) ophthalmic drug development and supports a seamless transition from preclinical to clinical phases for sponsors.

InTandem Capital Partners, a healthcare services-focused private equity firm, completed a strategic equity investment in Healthfuse. Headquartered in Milwaukee, Wisconsin, Healthfuse provides revenue cycle vendor management services for healthcare organizations, combining proprietary technology, analytics, and research to improve vendor performance, optimize collections, and reduce costs.

Rotunda Capital Partners invested in Value Added Distributors, LLC (VAD) in partnership with the company’s existing owners and management team. Founded in 1995 and headquartered in Shawano, Wisconsin, VAD distributes fluid power products and provides value-added services such as custom fabrication, assembly, kitting, and vendor-managed inventory. The existing leadership team, including founder and CEO Mike Kostelnik, will continue to lead the business.

Adams Outdoor Advertising, a leading U.S. out-of-home advertising operator, acquired Wisconsin-based billboard company Cee Media. The deal expands Adams Outdoor Advertising’s presence in the Midwest—particularly central Wisconsin beyond Madison—by adding Cee Media’s network of approximately 100 billboards, including both static and digital displays.

Argosy Private Equity acquired a controlling interest in Mr. Splash Car Wash, a six-site express car wash chain in the Greater Madison, Wisconsin area. Co-owners Jeff Joos and Tony Ruiz will remain significant owners, with Joos continuing as CEO, as the business pursues additional acquisition and development opportunities including two new sites planned to open by the end of 2025.

Pexco LLC, a North American plastics solutions provider, acquired Wisconsin Plastic Products, Inc., a Plymouth, Wisconsin-based manufacturer of custom profile extrusions. The deal expands Pexco’s custom extrusion capacity and engineering expertise and strengthens its manufacturing footprint in the U.S. Midwest, adding Wisconsin Plastic Products as Pexco’s 14th manufacturing site.

An affiliate of H.I.G. Capital completed the acquisition of Best Version Media (BVM), a provider of hyper-local, multi-channel (print and digital) advertising solutions serving more than 30,000 SMB clients across the United States and Canada. The deal represents an exit for Bertram Capital, which sold BVM to H.I.G. Capital Partners; financial terms were not disclosed.

Creative Planning, LLC acquired Kowal Investment Group, a registered investment advisor headquartered in Brookfield, Wisconsin. The transaction closed on December 21, 2024, and Kowal Investment Group’s 20 employees joined Creative Planning as part of the firm’s continued nationwide expansion in wealth management.

An affiliate of Peak Rock Capital acquired Traffic and Parking Control Co. (TAPCO), a provider of intelligent transportation systems and traffic safety products. TAPCO designs and manufactures connected road safety systems and provides integration and service solutions, and is headquartered in Brown Deer, Wisconsin.

Franklin Energy announced it has acquired AESC and EVA Green Power to expand its clean energy engineering, consulting, and distributed energy project capabilities across North America. The deal strengthens Franklin Energy’s position as a fully integrated energy services provider serving utilities, governments, and commercial/industrial customers. Abry Partners is cited as the private equity owner of Franklin Energy.

Kunes Auto & RV acquired Wisconsin RV World, an RV dealership located in DeForest, Wisconsin. The business was sold by Christine Eagan and the Eagan Family, with Performance Brokerage Services serving as the exclusive sell-side advisor.

Nihon Kohden acquired a 71.4% stake in NeuroAdvanced Corp., the parent company of Ad-Tech Medical Instrument Corporation, a manufacturer of intracranial neuro electrodes used in epilepsy treatment and neurodiagnostic procedures. ARCHIMED (via its MED II fund) sold the majority stake but retained a 28.6% minority position, with the parties forming a joint venture to support Ad-Tech’s continued growth in North America, Europe, and Asia.

Heniff Transportation Systems acquired Janesville, Wisconsin-based Hagen Johnson Group. Heniff plans to integrate Hagen Johnson’s food-grade tank truck fleet, kosher tank-cleaning operations, and liquid freight brokerage business into its own divisions (Carry Transit, Total Clean, and Heniff Logistics). Transaction terms were not disclosed, and the deal does not include Korth Transfer.

Sila Services, LLC acquired New Berlin Heating & Air Conditioning, an HVAC services provider headquartered in New Berlin, Wisconsin. The deal expands Sila Services’ Midwest presence and adds New Berlin’s heating, cooling, and indoor air quality capabilities serving the greater Milwaukee area.

NexGenSolutions, an Autodesk Solution Provider and Platinum Support Partner based in Milwaukee, Wisconsin, acquired Automated Solutions Inc. (ASI), a provider of FeatureCAM/Fusion CAM software solutions, training, and CNC machining services. The deal expands NexGenSolutions’ advanced CAM support, training, and programming capabilities and extends its Platinum Support services to ASI customers.

Imperial Dade announced the acquisition of San-A-Care, Inc., a distributor serving Waukesha and the greater Milwaukee area. The deal expands Imperial Dade’s presence in Wisconsin and marks its 95th acquisition; financial terms were not disclosed.