Private Equity-Backed Acquisitions in Maine

Left Lane Auto, a national tire retail and automotive-service platform and portfolio company of Bertram Capital, has acquired Don Foshay's Discount Tire & Alignment, a six-location automotive repair and tire retail chain based in Portland, Maine. Terms were not disclosed; Left Lane said it will retain management and employees across all locations and the deal brings the platform to over 80 stores across 19 states as it expands into New England.

Closed Loop Partners' private equity arm, Closed Loop Private Equity, has acquired Agri-Cycle, a U.S. organics collection and organics-management services provider. Agri-Cycle collects organic waste from over 2,400 locations across 14 states and will partner with Closed Loop to scale nationally through a buy-and-build strategy, expanding collection, processing and analytics capabilities.

Guidant Power, a Shore Capital‑backed electrical safety and training platform, has acquired Monroe Infrared Technology to expand its infrared thermography, aerial inspection, training, and equipment sales capabilities. Monroe Infrared, based in Brunswick, Maine, will join Guidant's national platform to accelerate growth and broaden services for critical infrastructure, manufacturing, utilities, and commercial clients.

The Hilb Group, a Carlyle-backed property & casualty and employee benefits insurance brokerage, acquired a Maine-based property and casualty business effective April 1, 2025. The deal expands Hilb Group’s New England footprint by adding Maine to its portfolio and broadens its P&C offerings in the region.

O2 Investment Partners, through its pool-care platform Azureon, has made an investment in and partnered with Northern Pool & Spa, a full-service pool maintenance and construction company based in Eliot, Maine. The deal — an add-on to Azureon's platform expansion across the Northeast — will keep Northern management with significant ownership while giving the business access to Azureon's operational support, resources and technology.

Aventia, a Bernhard Capital Partners-backed environmental services platform, has acquired St.Germain, an environmental consulting, regulatory compliance, and engineering firm headquartered in Westbrook, Maine. The add-on strengthens Aventia's consulting, engineering and technology capabilities (including St.Germain's Sentry EHS tool), expands its New England geographic footprint, and represents Aventia's fourth acquisition; financial terms were not disclosed.

Amuze, a national arcade and amusement solutions company backed by Surge Private Equity, has acquired Ferris Music Service, Inc. and its ATM division Mainely ATMs to strengthen its presence in Maine. The acquisition—financed by WhiteHorse Capital—adds Ferris's more than 1,200 amusement games and 240 ATMs to Amuze's network and will be integrated with Amuze's operating brands including Bar Partners.

Centerbridge Partners has agreed to acquire Precinmac LP, a precision components manufacturer serving aerospace, defense, space and semiconductor equipment markets, from an investor group including Pine Island Capital Partners, Bain Capital's Private Credit Group and Compass Partners Capital. The transaction, announced Oct. 14, 2024, is expected to close in Q4 2024 (reported closed Dec. 2, 2024 by some sources); financial terms were not disclosed.

Fidelity Building Services Group, a Hunt Valley, Maryland-based provider of HVAC, building automation, and energy solutions, has acquired Nason Mechanical Systems, a full-service mechanical contractor headquartered in Auburn, Maine. The acquisition expands Fidelity’s Northeast footprint and strengthens its HVAC/mechanical, plumbing, and energy-efficiency service capabilities across healthcare, education, industrial, and commercial end markets.

EnviroServe Inc., a national environmental and waste management provider and portfolio company of One Rock Capital Partners, has acquired Environmental Projects, Inc. (EPI), a Maine-based environmental remediation and waste management services provider headquartered in Auburn, Maine. The acquisition is an add-on to the EnviroServe platform that establishes the company’s strategic presence in New England and expands its nationwide network of remediation and waste-handling capabilities.

Sila Services, a multi-brand home services platform, has acquired Dave's World, a Maine-based heat pump installer with more than 20 years of experience and over 11,000 installations across six locations. The add-on expands Sila's New England footprint and strengthens its residential heat-pump installation and home-comfort capabilities in Maine.

Everon (formerly ADT Commercial) acquired all outstanding stock of Portland Safe, Inc., a Maine-based authorized dealer and service provider of NCR ATMs and ITMs. The purchase, sold by co-owners Brian Sevit and John Fecteau, expands Everon's commercial security footprint and customer base across Maine and New Hampshire; Portland Safe's co-owner Brian Sevit will remain to help lead the business under Everon's ownership.

Senske Services has acquired Turf Doctor, a professional lawn care and pest control provider based in Augusta, Maine. Turf Doctor — founded by Michael Russo in 1997 — will continue operating under its brand as part of Senske’s Blades of Green division as Senske expands its northeast footprint.

Autoagent Data Solutions has acquired MuniciPAY to expand its municipal payment gateway and consolidate incoming revenue solutions for county and local governments. The deal broadens Autoagent's citizen payment capabilities across utilities, parking, DMV fees and other municipal payments; Stella Point Capital, Autoagent’s majority equity investor since 2021, commented on the strategic fit.

Destination Pet, a national pet-resort and veterinary platform, has acquired Roscoe's Bed + Bark, a Portland, Maine-based dog daycare, boarding and grooming operator. Madison Street Capital advised Roscoe's Bed + Bark on the undisclosed transaction as Roscoe's joins Destination Pet's nationwide network to expand its pet care footprint.

Medix Biochemica has acquired 100% of ViroStat LLC, a US-based manufacturer of infectious disease antibodies and antigens, expanding Medix's IVD raw materials portfolio and scientific capabilities. ViroStat will continue operating in Westbrook, Maine, and its employees and leadership (including President Dr. Douglas McAllister and General Manager Duncan McAllister) will join Medix Biochemica.

North Branch Capital, a Chicago-area private equity firm, has acquired a majority ownership stake in STARC Systems, a Brunswick, Maine-based manufacturer of reusable temporary modular wall containment solutions. The investment will fund product innovation and expansion into new end markets including data centers, airports and life science labs.

Salt Creek Capital has acquired Power Gripps USA, dba Versa Gripps USA, the Sorrento, Maine-based manufacturer of American-made weightlifting grips and accessories, from founders Mike and Heather Parker. The deal brings Salt Creek (with backing/financing from LO3 Capital SBIC reported by other sources) ownership of the business to support the next stage of growth under incoming CEO Lester Lee.

Class Valuation, a Troy, Michigan-based appraisal management company, has acquired Property Val, LLC, a Freeport, Maine appraisal management/residential appraisal firm. The acquisition expands Class Valuation’s presence and appraisal capacity in Maine and the New England market and bolsters its regional appraisal panel and market-data capabilities.

Prima has acquired Prospect Farms, a vertically integrated USDA Certified Organic hemp farm and manufacturing complex in Prospect, Maine, and together the businesses will operate as Uplifter Brands, PBC. The deal gives Prima in-house cultivation, formulation and fulfillment capabilities to accelerate growth across personal care, supplements, spa/hospitality and pet wellness and is backed by strategic investors including Maximalist, Greycroft, Lerer Hippeau, Global Founders Capital, Ropart Asset Management and Platform Ventures.

Dead River Company acquired Maine Energy Company in September, marking the end of three generations of family ownership after owner Robert Cort’s retirement. The acquisition is an add-on to Dead River’s regional heating-fuel platform (which is PE-backed by Redwood Capital Investments) and will rebrand Maine Energy offices under the Dead River name while consolidating local heating oil and propane operations in the Bangor area.

Funds affiliated with Clayton, Dubilier & Rice (CD&R) and TPG Capital agreed to acquire all outstanding shares of Covetrus for $21.00 per share in cash, implying an enterprise value of approximately $4.0 billion. The transaction, which closed in October 2022, takes Covetrus private; the company will continue to be led by CEO Benjamin Wolin and remain headquartered in Portland, Maine.

Advanced Instruments has signed an agreement to acquire Artel, a Westbrook, Maine-based provider of calibration and validation instruments, consumables, software and services for life-science laboratories. The add-on transaction is funded by Patricia Industries and Advanced Instruments (with external debt), values Artel at an upfront ~$85m with contingent payments of up to $55m, and is intended to expand Advanced Instruments' liquid-handling portfolio and R&D capabilities.

TA Associates has acquired Stonewall Kitchen from Audax Private Equity, with the Stonewall management team remaining invested and continuing to run day-to-day operations from York, Maine. The investment will support continued buy-and-build growth, including further acquisitions, product innovation, and expansion of Stonewall's wholesale, retail and direct-to-consumer channels.

New York-based private equity firm Goode Partners LLC made a $30 million minority growth investment in JOCKO FUEL to support the sports nutrition brand's product-line expansion, logistics improvements, and broader retail and direct-to-consumer distribution. The capital will help JOCKO FUEL accelerate growth while partnering with founder Jocko Willink and the existing management team.

ImageFIRST has acquired Pratt Abbott Uniform & Linen, headquartered in Greater Portland, Maine, with a service center in Portsmouth, New Hampshire; terms were not disclosed. The deal (excluding Pratt Abbott Retail's dry-cleaning and home delivery) marks ImageFIRST's first facility in Maine and expands its medical linen service footprint in New England while retaining existing leadership and employees.

ZRG Partners has acquired Brimstone Consulting Group, a Camden, Maine-based boutique strategy and leadership consulting firm. The acquisition expands ZRG's talent advisory and consulting capabilities—adding Brimstone's expertise in leadership transitions, culture change, executive coaching, and post-merger execution.

SDS Rx, a last-mile healthcare logistics platform backed by HCI Equity Partners, acquired Mission Critical Delivery Solutions, a non-asset-based logistics management company based in Bangor, Maine. Patriot Capital provided subordinated debt and an equity co-investment to support the add-on acquisition, which expands SDS Rx’s geographic coverage and route density in the long-term care pharmacy market.

Arctic Glacier, a North American packaged-ice manufacturer and DSD distributor, has acquired Getchell Bros. Inc., a family- and veteran-owned packaged-ice and dry-ice producer operating facilities in Sanford and Bangor, Maine. The acquisition expands Arctic Glacier’s production and distribution capacity across New England, strengthening its ability to serve retail and commercial customers in the region.

Insurity has completed the acquisition of Maprisk, a Portland, Maine-based provider of geospatial data and analytics for property & casualty (P&C) carriers and MGAs. The deal expands Insurity's cloud-based geospatial analytic capabilities into the personal lines market and integrates Maprisk's API and web-platform data delivery across Insurity's policy lifecycle solutions.

ARCH Cutting Tools Corp., an ARCH Global Precision Company, has acquired CONTOUR360 of Cornish, Maine. The acquisition adds CONTOUR360’s engineered solid round cutting tool and custom tooling capabilities to ARCH’s national custom and specials offering as an add-on to its platform.

Baltimore-based Tilley Company, a portfolio company of SK Capital Partners, has acquired Ingredients Solutions Incorporated (ISI), a Waldo, Maine-based distributor and blender of specialty hydrocolloids. The deal expands Tilley's food- and personal-care ingredient portfolio and brings ISI's R&D, blending and technical application capabilities into the Tilley platform.

North Haven Capital, a family-office backed private investment group based in Portland, Maine, has acquired New England-based Interstate Fire Protection. The deal, completed with support from BankProv and advised by Copper Run Capital, positions North Haven to expand Interstate's geographic footprint, product offerings and target end markets nationally.

Genstar Capital signed a definitive agreement to acquire a majority stake in Foreside Financial Group from Lovell Minnick Partners. The transaction gives Genstar control of Foreside, a Portland, Maine–based provider of distribution and governance, risk and compliance (GRC) solutions to asset and wealth managers, to support growth and broaden Foreside's products and services.

Service Experts Heating & Air Conditioning LLC acquired substantially all assets of Pine State Services, Inc., a residential HVAC, plumbing and electrical company based in Portland, Maine. The deal adds about 70 employees and 50 service vehicles, expanding Service Experts' Northeast footprint as part of the Enercare (Brookfield Infrastructure) family of home services brands.

T-street Capital completed a growth equity investment in Hyperlite Mountain Gear to support the ultralight backcountry brand’s accelerated domestic and international growth. Hyperlite, founded in Maine in 2010, will partner with T-street to expand product offerings and scale distribution while founders remain involved.

Trilantic North America closed a substantial minority investment in Rarebreed Veterinary Partners, a Portland, Maine–based, technology-enabled veterinary services platform. The investment will fund Rarebreed's growth plan; co-founders Dan Espinal and Sean Miller retain meaningful equity and will continue to lead the business. Existing equity investors Caremi Investments, Northwood Ventures and Halle Capital Management also participated in the financing round.

River Associates Investments (River) partnered with Yale Cordage management to acquire Yale Cordage, a designer and manufacturer of high‑performance synthetic rope based in Saco, Maine. River funded the transaction from its River VII fund with subordinated debt and an equity co‑investment from Northstar Capital and debt financing from TD Bank; River plans to pursue add‑on acquisitions to grow Yale's capabilities and end‑market reach.

WEX Inc. agreed to a $400 million private investment from an affiliate of Warburg Pincus, consisting of $310 million of convertible notes and $90 million of common stock, and also obtained an amendment to its senior secured credit facilities to increase financial flexibility. The transaction strengthens WEX's balance sheet and liquidity as it navigates COVID-19 headwinds and supports its strategic initiatives across fleet, travel and healthcare payments.

Inverness Graham Investments has acquired KICTeam, Inc., a Maine-based designer and manufacturer of proprietary single-use technical cleaning products for electronic FinTech devices. The deal is the first platform investment for Inverness Graham IV and positions KICTeam as a platform for add-on acquisitions targeting medical device, pharmaceutical, aerospace, semiconductor and other specialty end markets.

An investor group led by Pine Island Capital Partners with participation from Bain Capital Credit and Compass Partners Capital has acquired Precinmac Precision Machining from GenNx360 Capital Partners. Precinmac is a diversified manufacturer of high‑precision machined components and assemblies serving aerospace & defense, semiconductor and general industrial customers; financial terms were not disclosed.

Rarebreed Veterinary Partners, a Portland, Maine-based technology-enabled animal health platform, acquired a majority stake in Maine Veterinary Medical Center (MVMC), a 20,000-square-foot specialty/referral veterinary hospital in Scarborough, Maine. MVMC employs about 150 veterinary professionals (including 21 specialty doctors); as part of the deal MVMC doctors and staff received equity alongside Rarebreed, and deal terms were not disclosed.

JackRabbit, an omnichannel specialty athletic retailer owned by CriticalPoint Capital, acquired certain assets and liabilities of Olympia Sports — including its online presence and the "Olympia Sports" brand. The deal is an add-on to JackRabbit’s business that expands its brick-and-mortar footprint and e-commerce capabilities in the U.S. Northeast; the consolidated company will operate roughly 135 stores following the transaction.

Double E Company LLC, a portfolio company of River Associates Investments, acquired Schlumpf, Inc., a Windham, Maine-based manufacturer of roll and shaft material-handling equipment, in a transaction that closed September 20, 2019. The add-on expands Double E’s engineered roll- and shaft-handling product offerings and leverages Double E’s worldwide direct sales force to drive growth; terms were not disclosed.

Audax Private Equity acquired a controlling interest in Stonewall Kitchen, a York, Maine-based premium specialty food producer, from Centre Partners. Audax said it will support Stonewall Kitchen’s growth and buy-and-build strategy while existing management, including CEO John Stiker, remain in place; financial terms were not disclosed.

Alleghany Capital Corporation formed a new holding company, Precision Cutting Technologies, and Precision acquired a majority interest in Coastal Industrial Distributors, LLC (d/b/a CID Performance Tooling), a Saco, Maine-based manufacturer of high-performance solid carbide end mills. The move consolidates Alleghany Capital’s machine tool and consumable cutting tool businesses under a single platform to share resources and expand capabilities and end-market reach in aerospace, defense, and medical sectors.

Funds managed by SDC Capital Partners, LLC will invest up to $100 million in telecommunications infrastructure services firm Tilson to support nationwide network design-build growth and to enable the spin-out and capitalization of Tilson’s asset-ownership affiliate SQF, LLC. The capital will accelerate Tilson’s expansion in small-cell and 5G infrastructure deployment and strengthen its asset ownership capabilities through SQF.

Battery Ventures has acquired Plixer, a provider of network traffic analytics and security incident response software, in a transaction that will provide growth capital and operational support to scale the business. Jeff Lindholm has joined Plixer as CEO, Russell Fleischer of Battery will join the board, and founders Mike Patterson and Marc Bilodeau will remain involved in the leadership team.

Champlain Capital Partners, LP has completed a recapitalization of JSI Store Fixtures, Inc., a privately owned manufacturer of high-end retail and supermarket fixtures headquartered in Milo, Maine. BDO Capital Advisors served as exclusive financial advisor to JSI on the transaction, which provides liquidity to shareholders and positions the company for strategic growth and capital investments.

Arlington Capital Partners, a Washington, D.C.-area private equity firm, has acquired Tex Tech Industries, a Maine-headquartered manufacturer of specialty high-performance textile materials serving aerospace, defense and industrial markets. The deal—completed in August 2017—transfers ownership from ShoreView Industries and positions Tex Tech for growth under Arlington's buy-and-build strategy.