Manufacturing Acquisitions in Kansas

TerraVest Industries has acquired KBK Industries, LLC, a Rush Center, Kansas-based manufacturer of large-volume aboveground and belowground fiberglass and steel tanks. The transaction enabled Main Street Capital Corporation to fully exit its debt and minority equity investments in KBK after a 20-year partnership; TerraVest said the acquisition expands its tank manufacturing capabilities and U.S. footprint.

Watts Water Technologies, through its subsidiaries, has completed the acquisition of Superior Boiler, a designer and manufacturer of customized steam and hot water boilers used in commercial, institutional and industrial applications. The deal (funded with cash on hand) brings Superior's portfolio and capabilities into Watts' plumbing, heating and water-quality product lines to expand custom boiler offerings and drive cross-selling opportunities.

Dallas-based Precision Aerospace Holdings, a portfolio company of Juniper Capital Management and CIC Partners, has acquired Clearwater Engineering, a Derby, Kansas precision machining and CNC milling company serving commercial and government aerospace customers. The add-on deal (closed March 7, 2025) expands Precision's Midwest footprint, adds machining capacity and capabilities, and brings approximately 40 Clearwater employees into the Precision platform.

Micross Components, a portfolio company of Behrman Capital, has acquired Integra Technologies, a U.S.-based OSAT (outsourced semiconductor assembly and test) provider headquartered in Wichita, Kansas. The add-on expands Micross' U.S. assembly, packaging and test capabilities and broadens its presence in high-reliability end markets such as medical, aerospace/defense and automotive.

Axius Water, a KKR/XPV-backed nutrient management platform, has acquired Aero-Mod, a Manhattan, Kansas-based supplier of packaged mechanical and biological wastewater treatment systems. The add-on expands Axius's capability in low- to medium-flow nutrient removal solutions, including Aero-Mod's patented Sequox process and over 500 installations experience.

May River Capital, a Chicago-based private equity firm, has acquired Cashco, a designer and manufacturer of pressure management and flow control products headquartered in Ellsworth, Kansas. Cashco will serve as May River's inaugural investment in a new Flow Control Solutions platform, with May River planning significant investments to grow the business organically and through add-on M&A while retaining Cashco's existing leadership.

Hoffmann Family of Companies (HF Companies) has acquired Doonan Specialized Trailer, LLC, a custom semi-trailer manufacturer headquartered in Great Bend, Kansas. The acquisition expands HF Companies' transportation vertical and builds on its prior purchase of Texas Bragg Trailers, with Doonan's existing management remaining in place to support continuity.

Trecora LLC, an affiliate of private equity firm Balmoral Funds, has acquired the lubricant additives business of Chemtrade Logistics located in Lawrence, Kansas. The acquired business — a leading North American producer of phosphorus pentasulfide (P2S5) — will be integrated into Trecora's Specialty Chemicals business; financial terms were not disclosed.

Consolidated Equipment Group, a portfolio company of Dominus Capital, has acquired PRO-DIG, a manufacturer of foundation drilling and piling equipment based in Elwood, Kansas. The deal is the first add-on for the CEG platform under Dominus' ownership as part of a strategic M&A growth plan; PRO-DIG founder Michael Charlton will remain in a leadership role. CriticalPoint served as exclusive financial advisor to CEG on the transaction.

DreamSeat, a commercial stadium and arena seating specialist, has acquired The Stadium Chair Company effective August 1, 2023. The acquisition brings the Stadium Chair product line and its Lenexa, Kansas facility into DreamSeat’s portfolio to expand its seating and furnishings offerings for sports, education and corporate venues.

Missouri-based Permanent Equity has formed a long-term financial partnership and acquired a majority stake in Wichita-based Chance Rides Manufacturing, Inc. Founder and longtime owner Dick Chance will retain a minority interest and transition from CEO, with Aaron Landrum named President & CEO; Chance Rides will remain headquartered in Wichita and continue operating under its existing name and management team.

Ennis, Inc. (NYSE: EBF) announced the acquisition of the operating assets of UMC Print in Overland Park, Kansas. UMC Print, a trade-only sheet-fed commercial printer founded in 1936, will continue operating at its current location as Ennis expands its locations and printing capabilities to better serve distributor partners.

Dutch mobile-storage leader Bruynzeel Storage Systems has acquired Topeka-based Delta Designs Ltd, a North American specialist in museum and institutional collection storage cabinetry. The deal strengthens Bruynzeel's presence in the US market, broadens its product offering for museums, archives and universities, and supports its goal to exceed €100 million in revenue by 2026.

Chauvet, a Florida-based lighting manufacturer, has acquired LynTec, a Lenexa, Kansas manufacturer of remotely operated AC power control systems for lighting, video and audio systems. The acquisition expands Chauvet's product portfolio and enables bundled lighting and power-control solutions for live-venue, house-of-worship and pro AV customers.

Pittsburgh-based private equity firm 3 Rivers Capital has acquired Magnum Systems, a Lenexa, Kansas-based designer and manufacturer of material handling and packaging systems. Patriot Capital and SharpVue Capital provided debt and equity financing for the transaction; seller was Blue Sage Capital, which exits after a prior 2016 investment. The deal supports 3 Rivers' entry into industrial automation and will expand Magnum's engineering, project management, and product capabilities.

Olympic Steel Inc. (Nasdaq: ZEUS) has acquired all outstanding shares of Metal-Fab, Inc., a Wichita-based manufacturer of venting and filtration products. The deal expands Olympic Steel's manufacturing capabilities and product offerings in coated carbon and stainless steel and is expected to be immediately accretive.

All States Ag Parts (ASAP), a portfolio company of Kinderhook Industries, acquired Arrow Acquisition, LLC (Arrow), a Lenexa, Kansas-based supplier and manufacturer of forks and attachments for material handling and heavy equipment. The add-on expands ASAP's product offering into material handling, adds in-house manufacturing and engineering capabilities, and marks ASAP's fifteenth add-on since partnering with Kinderhook.

JAL Equity, an owner-operator of marketing, printing and e-commerce businesses, has acquired D. Rockey Holdings, Inc. (dba Eagle Products) from founder and sole owner Dave Rockey; the transaction closed July 15, 2022 with Generational Equity advising the seller. Eagle Products is a Kansas City, Kansas-based wholesale manufacturer of decorated apparel that will be integrated into JAL Equity’s TShirts.com portfolio, with Dave Rockey remaining as President to support continuity and growth.

Marel has acquired Wenger Manufacturing LLC for USD 540 million, creating a new business segment focused on pet food, plant-based proteins, and aqua feed. The acquisition (closed June 9, 2022) adds Wenger's extrusion and dryer technology, ~500+ employees and expected 2022 revenues of about USD 190 million to Marel's portfolio, and is expected to be margin- and earnings-enhancing on a pro-forma basis.

Argosy Private Equity acquired Preco, Inc. (which will become Preco, LLC) in a platform buyout that closed on March 11, 2022. Preco is a designer and manufacturer of laser processing and specialty die cutting systems and a major contract manufacturing services provider headquartered in Lenexa, Kansas; Argosy intends to grow the business through development of the company's product and service offerings.

Dallas-based private equity firm Sky Island Capital made a majority investment in SkyMark Refuelers, LLC and related company KC Tank, LLC, partnering with the companies' founders to support growth. SkyMark, headquartered in Kansas City, Kansas with production in Findlay, Ohio, is a manufacturer of custom work trucks and vacuum tanks serving aviation refueling, liquid waste removal, rail, and other industrial end markets.

High Street Capital, alongside Wells Fargo Strategic Capital, has invested in Tramec LLC in a management-led recapitalization to support organic growth, new product and market introductions, and operational improvement. Tramec, headquartered in Iola, Kansas, manufactures and distributes engineered components to heavy-duty truck and trailer OEM and aftermarket channels.

L Catterton-backed Airxcel sold its RV Group to THOR Industries for an all-cash purchase price of $750 million. The transaction separates Airxcel's RV business (transferred to THOR) from its specialty HVAC business, which will remain supported by L Catterton as AirX Climate Solutions.

NFI Corp., a New Bedford, Massachusetts-based producer of custom printed graphic solutions, has acquired PPS Inc., a printed-graphics and printed-electronics manufacturer headquartered in Olathe, Kansas. NFI will relocate PPS's manufacturing to its New Bedford facility while maintaining a sales and administrative office in Kansas; the acquisition is intended to expand NFI's capabilities and customer base in the U.S.

PPG Industries acquired VersaFlex, a Kansas City-based manufacturer of polyurea, epoxy and polyurethane coatings, from DalFort Capital Partners. VersaFlex generated over $70 million in revenue in 2020 and the acquisition expands PPG's protective coatings portfolio and capabilities in water/wastewater, flooring and infrastructure markets.

BERKS Group announced an investment in Natoma Manufacturing LLC, a precision parts manufacturer based in Norton, Kansas. The investment expands BERKS Group's precision manufacturing platform (which includes Swiss-Tech and IDC) and is intended to increase capacity, hire additional staff, and broaden Natoma's presence in aerospace and defense markets.

Stone Canyon Industries Holdings LLC agreed to acquire Kissner Group Holdings LP, a leading North American producer and supplier of rock, specialty and evaporated salt. Sellers included Metalmark Capital Holdings LLC and Silvertree-KMC II LP; terms were not disclosed in the initial announcement and the deal subsequently closed at approximately $2.0 billion.

Wynnchurch Capital has completed the acquisition of Mid‑America Fittings, Inc., adding the Overland Park, Kansas-based manufacturer of engineered brass fittings and valves to its growing distribution and manufacturing platform. Mid‑America Fittings will join platform companies Anderson Metals, Midland Metal Mfg., and Buchanan Rubber Ltd., with the deal intended to broaden the platform's product and manufacturing capabilities and accelerate customer expansion.

Iconex LLC, a portfolio company of Atlas Holdings LLC, has acquired RiteMade Paper Converters, Inc., a paper converting manufacturer headquartered in Kansas City, Kansas. Dinan Capital Advisors served as exclusive financial advisor to RiteMade, which was 100% ESOP owned and operates three manufacturing facilities in Kansas City (KS), Ashland (VA) and Reno (NV).

Alleghany Capital Corporation has entered into a definitive agreement to acquire a 45% equity interest in Wilbert Funeral Services, a leading provider of burial vaults, cremation products and precast concrete solutions for the funeral and cemetery industries. The minority investment establishes a long-term partnership to support Wilbert's management team in pursuing profitable growth, product innovation and potential acquisitions while preserving the company’s culture.

B12 Capital Partners has acquired Diamond Coach, a U.S.-based manufacturer of mid-sized passenger coaches headquartered in Oswego, Kansas. ClearRidge advised the owners on the sale; B12 was selected for its industry experience and alignment on growth strategy for the company.

Lindsay Corporation (NYSE: LNN) completed the acquisition of Elecsys Corporation (NASDAQ: ESYS) on January 23, 2015, paying $17.50 per share in cash. Elecsys — a provider of machine-to-machine (M2M) technology and custom electronic systems headquartered in Olathe, Kansas — will continue to be operated by its existing management and will support Lindsay's strategy to expand advanced water-management and M2M capabilities.