Industrial Services Acquisitions in New Hampshire

NMS Capital has recapitalized Capstone Mechanical, a Portsmouth, New Hampshire-based commercial HVAC and refrigeration service provider. The private equity partnership will support Capstone's organic growth and M&A strategy to expand its footprint and capabilities across the Eastern United States; terms were not disclosed.

Chicago-based ONDEX Automation has acquired NeoMatrix, a software-focused factory automation systems integrator with offices in Andover, MA; Portsmouth, NH; and Colorado Springs, CO. The acquisition expands ONDEX's capabilities into SCADA, MES and digital transformation solutions and broadens service offerings (including UL508A-certified panels and electrical installation) for its manufacturing customers across pharmaceuticals, semiconductors and food & beverage.

Arsenal Capital Partners has acquired Innovative Products & Equipment and will combine it with portfolio company Eckhart to build a leading automation solutions provider serving medical device and life sciences customers. Terms were not disclosed; Innovative is headquartered in Hudson, New Hampshire and will expand Eckhart's Factory of the Future and advanced automation capabilities.

Salt Creek Capital has acquired All Metals Industries, Inc. (AMI), a Belmont, New Hampshire-based distributor of carbon, aluminum, stainless and coated sheet/coil products serving customers across the Northeast U.S. Salt Creek is partnering with AMI management (CEO Heidi Paiva and President Paul Koza) and purchased the company from owner Terry W. Robinson, intending to build AMI as a platform for future growth and expansion.

Alta Equipment Group Inc. has entered into a definitive agreement to acquire the assets of Ambrose Equipment, LLC, a family-owned equipment distributor and LeeBoy asphalt equipment dealer based in Hooksett, New Hampshire. The acquisition expands Alta's footprint to 39 locations across 10 states; Ambrose generated approximately $35 million of revenue and $3.1 million of adjusted EBITDA on a trailing-twelve-month basis. The asset purchase is expected to close before year-end, with terms to be disclosed upon closing.

Envest Capital Partners has acquired Bell & Williams Associates, a Windham, New Hampshire-based provider of repossession, collection, remarketing, and skip-tracing services. The transaction closed December 31, 2020; financial terms and seller details were not disclosed.

AI Fire acquired Facility Solutions, LLC — the parent company of Tri State Fire Protection, Tri State Hood & Duct and O'Connell Fire Protection — to expand its New England footprint and capabilities in fire and life-safety services. The deal is an add-on to AI Fire's growing national self-perform fire protection platform (AI Fire was PE-backed at the time).

East Range Partners, a Cambridge, Massachusetts-based investment group led by Tyler Hogan and Michael Donovan, has acquired Pure Flow, Inc., a Peterborough, New Hampshire-based ultra-pure water purification company. Founder Charles “Skip” Iltis will remain involved during a transition while East Range retains the existing staff and management will continue operations locally.