Acquisitions in Wyoming, United States

Mercer Global Advisors, Inc. (Mercer Advisors), a national registered investment adviser, announced the acquisition of Poterack Capital Advisory (PCA), a digital-first wealth management firm with approximately $265 million in client assets. The transaction expands Mercer Advisors’ virtual and national wealth management capabilities while deepening its regional presence in Jackson, Wyoming.

Balance, a Canadian digital asset custodian, acquired Digital Value Transfer Rails Inc. (DVTR), a Wyoming-based, multi-state licensed digital asset custodian and money transmitter. The deal, completed on December 11, makes DVTR a wholly owned subsidiary and expands Balance’s operational reach across the majority of U.S. states to support regulated custody and related digital asset services.

Kraken acquired Breakout, an evaluation-based crypto proprietary trading firm, effective September 1, to expand Kraken’s product suite for advanced traders. Breakout’s funded-trader model allows qualified traders to access up to $200,000 in aggregate notional capital across accounts and keep up to 90% of profits via on-demand payouts. Over time, Breakout is expected to be integrated into the Kraken Pro platform, leveraging Kraken’s infrastructure and brand.

Fundamental Advisors acquired Trans Aero Ltd, an operator of utility, fire suppression, and MedEvac helicopter services. The deal adds Trans Aero’s fleet of 11 helicopters to Fundamental’s public service helicopter investment strategy to support essential aviation services across the United States. Transaction terms were not disclosed.

Caretech has acquired Quality Home Health Care, a home care provider serving families across Wyoming since 2001. Caretech plans to maintain continuity of care while adding operational support, technology tools, and expanded clinical leadership to strengthen CNA, skilled nursing, and related services in the state.

Alliance Technical Group (Alliance) has acquired Slipstream Environmental Services, LLC, adding a specialized provider of combustion source emissions testing and regulatory compliance services for the oil and gas sector. Based in Sheridan, Wyoming, Slipstream will continue operating from Wyoming while integrating into Alliance’s national environmental testing, monitoring, and compliance services platform.

Castle Peak Holdings, the investment firm behind the Trailborn hospitality brands, acquired Snow King Resort in Jackson Hole, Wyoming. The 203-room resort will undergo renovations and is expected to be repositioned under the Trailborn brand as Castle Peak continues expanding its outdoor-destination hotel and resort portfolio across the United States.

Kraken, a U.S.-based cryptocurrency and trading technology platform, agreed to acquire and has completed the acquisition of U.S. retail futures trading platform NinjaTrader in a deal valued at $1.5 billion. The transaction follows a five-year ownership period by Long Ridge Equity Partners and will allow Kraken and NinjaTrader to expand access to both traditional derivatives and crypto markets across their platforms, with plans to broaden into additional asset classes over time.

Star Equity Holdings, Inc. acquired Alliance Drilling Tools, LLC (ADT), a drilling equipment supply and repair company serving the oil and gas, geothermal, mining, and water-well industries. ADT operates facilities in Midland, Texas; Casper and Evanston, Wyoming; and Vernal, Utah, and maintains a comprehensive inventory of drilling tools. Woodbridge (now part of Mariner) advised ADT on the transaction.

Jackson Group Peterbilt acquired Peterbilt of Wyoming’s four dealership locations in Casper, Rock Springs, Cheyenne, and Riverton, Wyoming. The business was sold by owners Fred and Bill DeVore, with Performance Brokerage Services serving as the exclusive sell-side advisor. The locations will continue operating in their current sites and will be renamed Jackson Peterbilt Group.

HUB International Limited acquired the assets of Jackson Hole Insurance, LLC, an independent insurance agency focused on personal insurance solutions for high-net-worth individuals. Jackson Hole Insurance is based in Jackson Hole, Wyoming, and will operate as “Jackson Hole Insurance, a Hub International company.” Terms of the transaction were not disclosed.

Exxe Group Inc. (OTC: AXXA) announced it has completed the acquisition of Chain Adoption, Inc. The deal expands Exxe’s blockchain and tokenization capabilities, enabling it to offer a blockchain solutions suite through its SaaS-based services, including Real-World Asset (RWA) tokenization and related Web3 applications.

U.S. Physical Therapy, Inc. acquired a 75% interest in an unnamed hand and physical therapy practice operating eight clinic locations in Wyoming. The practice generates approximately $6.5 million in annual revenue and about 43,000 annual visits, with the current owners retaining a 25% ownership interest.

CleanSpark Inc. completed the acquisition of its first Bitcoin mining site in Wyoming, a 30 MW immersion-cooled data center location in Cheyenne. The company also executed 75 MW of power contracts and is working toward closing the underlying real estate of a second Wyoming site that would add an additional 45 MW of capacity.

Clairvest Group Inc., together with Clairvest Equity Partners VI, partnered with ECL Entertainment, LLC to acquire Wyoming Downs, a licensed live horse racing and off-track betting (including historical horse racing and simulcast) operator in Wyoming. Wyoming Downs operates a racetrack in Evanston, Wyoming and runs 19 OTB locations with more than 1,100 gaming terminals across the state.

Seneca Partners acquired Wyoming Corporate Services, Inc. (WCS), a Cheyenne, Wyoming-based corporate formation and registered agent services provider. White Wolf Private Credit Management and Source Capital (including its Source Capital Credit Opportunities IV fund) supported the transaction with a senior secured term loan and equity co-investment; financial terms were not disclosed.

Summit Casing Equipment, a manufacturer of cementation products for the oil and gas industry, acquired Scepter Supply, LLC, a distributor of casing accessories including float equipment and centralizers. The deal is intended to expand Summit’s customer base and strengthen its position in the U.S. land-based well construction market by adding Scepter’s product lines, including its high-impact composite centralizer.

Blue Point Capital Partners-backed Weaver Leather acquired Rex Specs, a premium outdoor products brand for active and working canines. The deal represents Weaver Leather’s second add-on acquisition since Blue Point partnered with the company in March 2021 and is intended to support Rex Specs’ growth through expanded distribution, e-commerce, marketing, and new product development.

PureWest Energy, LLC completed an all-cash merger with a newly formed entity sponsored by PW Consortium, a private consortium of family offices and financial institutions, valuing the transaction at $1.84 billion. Following closing, the company will continue operating as PureWest Energy, LLC with its existing management and employees remaining in place and a new board formed with PW Consortium representatives.

Rental Equipment Investment Corp. (REIC), a portfolio company of Kinderhook Industries, acquired Black Mountain Rentals, Inc. (BMR), a provider of general rental equipment. Headquartered in Pinedale, Wyoming, BMR operates two locations (Alpine and Pinedale) and the deal represents REIC’s fifth add-on acquisition under Kinderhook’s ownership. Financial terms were not disclosed.

BitFrontier Capital Holdings, Inc. (BFCH) has closed its acquisition of ASICMINERSUS.COM (Asic Miners US LLC), which becomes a wholly owned subsidiary. The target is a distributor of cryptocurrency mining hardware and plans to roll out mining-hosting facilities across the United States, supporting BFCH’s broader crypto-mining services strategy.

Pye-Barker Fire & Safety acquired ComTronix, a commercial and residential security and fire alarm monitoring company based in Wyoming. The deal expands Pye-Barker’s footprint in Wyoming, strengthens its alarm division, and enhances its communication and mass notification service offerings.

SFP Holding, Inc. (Summit Companies) announced that its subsidiary, Summit Fire & Security LLC, completed the acquisition of Laramie Fire Extinguisher Services effective October 5, 2022. The deal brings Laramie Fire Extinguisher’s local fire protection systems business into Summit Fire & Security’s broader national network of fire protection, security, and life safety services.

American Equipment Holdings, a Rotunda Capital Partners portfolio company, has acquired Industrial Hoist & Crane, an overhead crane maintenance, repair and overhaul (MRO) field services provider. Industrial Hoist & Crane is headquartered in Rock Springs, Wyoming and operates throughout the Intermountain West. The deal represents American Equipment’s 12th add-on acquisition since partnering with Rotunda in May 2021 and Industrial Hoist will be rebranded as American Equipment.

Physical Rehabilitation Network (PRN), an owner-operator of outpatient physical therapy clinics and a portfolio company of Gryphon Investors, acquired Gillette Physical Therapy (Gillette PT/GPT). The acquisition marks PRN’s entry into Wyoming and adds GPT’s outpatient clinic in the Gillette community to PRN’s network.

Visionary Broadband received a strategic investment from funds affiliated with GTCR LLC. The investment will support Visionary’s continued buildout of new fiber networks across Wyoming, Colorado, and Montana, including expanding fiber-to-the-premise broadband to rural and underserved communities.

Apiary Medical, Inc. announced the strategic acquisition of Manus Medical LLC, an SDVOSB provider of procedural packs for the federal government. The deal positions Apiary Medical in the surgical pack market and expands its offering into the federal healthcare channel; Manus Medical’s former president Bob Minnick will remain with the business.

Markforged (NYSE: MKFG) announced the acquisition of Teton Simulation Software ("Teton"), developer of the SmartSlice technology for automated validation and optimization of additive manufacturing print parameters. Markforged plans to integrate Teton’s technology into its Eiger 3D printing software as a subscription add-on to provide an end-to-end, cloud-based workflow from design and testing through validation and printing. Financial terms were not disclosed.

HollyFrontier Corporation and Holly Energy Partners, L.P. completed their respective acquisitions of Sinclair Oil Corporation and Sinclair Transportation Company from The Sinclair Companies, and established HF Sinclair Corporation as the new parent holding company. As consideration, HF Sinclair issued approximately 60.2 million shares (about 27% of pro forma equity, valued at about $2.1 billion) to Sinclair, and HEP issued 21 million common units (about 17%, valued at about $349 million). The transaction expands HF Sinclair’s integrated downstream petroleum and renewables footprint and extends HEP’s midstream logistics network through Sinclair’s crude and refined products midstream assets.

SBP Holdings acquired Hydrafab LLC, a Wyoming-based provider of hydraulic product repair services, fabrication, and sales. Following the acquisition, Hydrafab is expected to operate within Dakota Fluid Power, SBP Holdings’ fluid power/automation platform. Financial terms were not disclosed, and Hydrafab’s founders Mark and Amy Hlad will continue to manage the business.

Marbis GmbH, owner of the Nitrado game server hosting brand and a portfolio company of FLEX Capital, acquired MCProHosting, LLC. The deal strengthens Nitrado Group’s position in Minecraft hosting—particularly in the United States—and supports its buy-and-build strategy in the global game server hosting market.

Eco Depot, Inc. announced it has acquired all outstanding common shares of Development One Nanotechnologies and Energy Inc., a Wyoming corporation focused on R&D of nano-carbon and polymer-based coatings and construction-related products. Development One’s technologies include industrial and oil & gas anti-abrasive/anti-corrosion coatings, advanced manufacturing/3D-printed parts, and a proprietary cement additive aimed at improving strength, durability, and curing performance in infrastructure and down-hole applications.

Alta Convenience, a joint venture between Fortress Investment Group and Phillips 66, acquired Red Horse Oil's five Get ‘N Go convenience stores. Red Horse Oil, a Rock Springs, Wyoming-based petroleum marketer and convenience-store retailer, was sold by owner Jay Schneiders and will be integrated into Alta Convenience.

Summit Fire & Security LLC, a subsidiary of SFP Holding, Inc. (Summit Companies), has completed the purchase of Casper Fire Extinguisher Service, Inc. Casper Fire Extinguisher Service, based in Casper, Wyoming, provides fire extinguisher services and inspection/maintenance for fire suppression systems and emergency/exit lighting, expanding Summit Fire & Security’s presence in the Wyoming market.

Summit Fire & Security LLC, a subsidiary of SFP Holding, Inc. (Summit Companies), has completed the acquisition of Phoenix Fire Protection, Inc. Phoenix Fire Protection is a Cheyenne, Wyoming-based fire protection services provider specializing in backflow prevention, fire sprinkler systems, and clean agent systems, expanding Summit Fire & Security’s presence into the Wyoming market.

Hub International Limited (Hub) acquired the assets of Wyoming Financial Insurance (WYFI), Wyoming’s largest independently owned insurance agency. WYFI provides commercial and personal lines insurance, employee benefits, and surety bonds through offices across Wyoming. Financial terms of the transaction were not disclosed.

Gastro Care Partners (GCP), backed by Varsity Healthcare Partners, completed a new practice affiliation with Gastroenterology Associates of Wyoming (GA). GA, founded in 1978 and headquartered in Casper, Wyoming, is the state’s largest gastroenterology provider, operating 11 outpatient locations and 12 ambulatory and hospital-based endoscopy centers. As part of the transaction, several GA physicians, including Dr. Raoul Joubran, Dr. Krmpotich, and Dr. Katz, became significant shareholders of GCP.

VA Claims Insider, LLC, a Texas-based service-disabled-veteran-owned business, announced the acquisition of HireVeterans.com, a Wyoming-based veteran job board. The deal expands VA Claims Insider’s ability to connect transitioning service members and veterans with veteran-friendly employers and career opportunities.

Coastal Television Broadcasting Holdings LLC and its affiliates acquired television stations controlled by Wyoming Media Group (WMG). Capital Southwest Corporation led and provided acquisition financing via term loans and a revolving credit facility, with Main Street Capital Corporation participating as a co-investor in the credit facilities.

The Lubrizol Corporation completed the acquisition of KABO Unlimited, a Cheyenne, Wyoming-based developer and manufacturer of antifoam and defoaming agents. The deal expands Lubrizol’s defoamer market coverage across North America and complements its existing defoamer operations in South Carolina by adding sales, manufacturing, and distribution capabilities west of the Mississippi.