Private Equity-Backed Acquisitions in Maryland

Tracked deals

442

442 tracked deals across 2012-2026.

Buyer mix

Mixed buyer set

398 pe · 261 strategic

Top trend

Volume peaked in 2021

77 tracked deals announced in 2021.

Buyer Snapshot

Top Buyers

Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.

Find buyers active in Maryland →
Buyer # Deals Focus Type
Arlington Capital Partners 7 Private equity firm focused on government-regulated indus... PE
Gryphon Investors 6 Middle-market private equity firm focused on building and... PE
H.I.G. Capital 6 Global alternative investment firm providing debt and equ... PE
Renovus Capital Partners 6 Lower middle-market private equity firm focused on Knowle... PE
Vision Innovation Partners 6 Operator and consolidator of ophthalmology practices and ... Strategic (PE-backed)
BlueHalo 5 Provider of advanced engineering solutions and technology... Strategic (PE-backed)
Centre Partners 5 Middle-market private equity firm focusing on healthcare ... PE
Enlightenment Capital 4 Washington, D.C.-area private investment firm focused on ... PE
The Acacia Group 4 Specialist investment firm that builds and invests in tec... PE
424 Capital 3 Private capital partner making control equity investments... PE

Acquisition Volume in Private Equity-Backed in Maryland by Year

Last 10 years

Acquisition volume by year Annual acquisition counts for the last 10 years for Private Equity-Backed Acquisitions in Maryland. 1 2017 6 2018 38 2019 47 2020 77 2021 61 2022 62 2023 60 2024 49 2025 ~43 est. 34 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Buyer
    Fortress Pest Brands
    Target
    Miche Pest Control
    Seller
    Tom Miche
    Type
    Addon

    Fortress Pest Brands, a pest-control platform backed by Riverarch Equity Partners, acquired Miche Pest Control, a residential and commercial pest management provider serving the Washington, D.C., Maryland, and Northern Virginia region. Founded by Tom Miche, the company operates nearly 20 locations; the acquisition expands Fortress’s regional platform and supports its strategy of partnering with local pest management businesses.

  • Buyer
    New Mountain Capital, LLC
    Target
    Jensen Hughes
    Seller
    Gryphon Investors
    Type
    Buyout

    New Mountain Capital entered into a definitive agreement to acquire Jensen Hughes, a global fire protection engineering and nuclear risk engineering company, from Gryphon Investors. The transaction is expected to close in Q4 2026, subject to customary regulatory approvals and closing conditions. Financial terms were not disclosed.

  • Buyer
    Merit Financial Advisors
    Target
    Towson Wealth Management, LLC
    Type
    Buyout

    Merit Financial Advisors acquired Towson Wealth Management, a Towson, Maryland wealth management firm overseeing about $502.5 million in total client assets. The deal, finalized July 17, 2026, expands Merit’s Mid-Atlantic presence and brings Towson’s CEO and entire four-person team into Merit, with Towson rebranding as Merit Financial Advisors.

  • Buyer
    LaunchPad Home Group
    Target
    Top to Bottom Services
    Type
    Addon

    LaunchPad Home Group announced the acquisition of Top to Bottom Services, a Maryland-based home inspection firm serving the Washington, D.C. metropolitan area. The deal expands LaunchPad’s Mid-Atlantic presence and adds geographic density around Montgomery County, Maryland, while Top to Bottom will continue operating under its established local brand.

  • Buyer
    Constellation Technology Ventures, Constellation
    Target
    Blue Energy
    Industry
    Energy

    Constellation Technology Ventures, the venture arm of Constellation Energy, made a strategic equity investment in Blue Energy, a developer of financeable, prefabricated nuclear power plants. The investment is intended to accelerate Blue Energy’s shipyard/manufacturing-based project financing model and support deployment plans for GE Vernova Hitachi’s BWRX-300.

  • Buyer
    Recognize
    Target
    Smartlink
    Industry
    IT Services
    Type
    Buyout

    Recognize, a private equity firm focused on digital services, announced a majority investment in Smartlink, a nationally scaled digital infrastructure services provider. The investment is intended to accelerate Smartlink’s growth in digital infrastructure services as demand increases for AI, data centers, edge computing, and next-generation connectivity.

  • Buyer
    InVita Healthcare Technologies, Novacap (backer of InVita)
    Target
    MAK-SYSTEM
    Type
    Buyout

    InVita Healthcare Technologies, backed by Novacap, completed its acquisition of MAK-SYSTEM to expand end-to-end blood management software solutions worldwide. The combined platform is intended to create a more connected and intelligent blood management ecosystem across donor to patient, improving visibility, interoperability, efficiency, and compliance.

  • Buyer
    Surplus Solutions LLC
    Target
    DCM BioServices
    Industry
    IT Services
    Type
    Addon

    Surplus Solutions, an NMS Capital portfolio company, announced the acquisition of DCM BioServices, a Frederick, Maryland provider of laboratory automation maintenance, repair, technical support, and integration solutions. The deal is intended to expand Surplus Solutions’ technical service capabilities and support growth in biotechnology, pharmaceutical, and life sciences sectors. Terms were not disclosed.

  • Buyer
    Azureon
    Target
    Pooltek Services
    Type
    Addon

    Azureon, backed by O2 Investment Partners, acquired Pooltek Services, a residential pool services company based in Rockville, Maryland. The deal is described as the platform’s 12th acquisition and is intended to expand Azureon’s consolidation footprint in the Mid-Atlantic/DMV region.

  • Buyer
    Oakline Properties
    Target
    ResidentialOne Management, Professional Renovations, Inc.
    Industry
    Real Estate
    Type
    Addon

    Oakline Properties acquired ResidentialOne Management, along with its affiliated maintenance and inspection services business, Professional Renovations Inc. ResidentialOne manages affordable housing properties and provides regulatory compliance performance, managing more than 12,500 units across 120+ properties in Maryland, Virginia, and Washington, D.C.

  • Buyer
    Oakline Properties
    Target
    ResidentialOne Management, Professional Renovations Inc. (PRI)
    Industry
    Real Estate
    Type
    Buyout

    Oakline Properties announced the acquisition of ResidentialOne Management, an affordable housing property manager serving Maryland, Virginia, and Washington, D.C., along with its affiliated maintenance and inspection services arm Professional Renovations Inc. (PRI). The transaction will allow ResidentialOne to move forward under its established brand and local leadership while integrating into Oakline’s national scale and technology-enabled platform.

  • Buyer
    Inflection Point Acquisition Corp. VI, Inflection Point Asset Management
    Target
    Quantum Space
    Type
    Buyout

    Quantum Space agreed to go public through a merger with SPAC Inflection Point Acquisition Corp. VI, valuing Quantum Space at about $600 million pre-money and about $1.2 billion post-transaction (assuming no redemptions). The deal includes a $300 million PIPE led by Inflection Point Asset Management and is expected to close in the fourth quarter of 2026, subject to shareholder approval and customary conditions.

  • Buyer
    Standard Solar
    Target
    Water Chestnut community solar project (3.9 MW), Hanoverian community solar project (4 MW)
    Seller
    EDF power solutions North America
    Industry
    Energy
    Type
    Addon

    Standard Solar announced the acquisition of two New York community solar projects from EDF power solutions North America, totaling approximately 8 MW: Water Chestnut (3.9 MW) and Hanoverian (4 MW). The projects received NYSERDA awards and are expected to complete in early 2027, expanding Standard Solar’s distributed solar footprint in one of the country’s most active community solar markets.

  • Buyer
    Frazier Healthcare Partners
    Target
    Altruix
    Seller
    WindRose Health Investors
    Type
    Buyout

    Frazier Healthcare Partners has completed the acquisition of Altruix, a behavioral health-focused specialty pharmacy platform headquartered in Hunt Valley, Maryland. Concurrent with closing, Frazier appointed Randy Hyun as Chief Executive Officer, with Altruix’s former CEO Greg Ganse continuing as an investor and advisor.

  • Buyer
    Centerbridge Partners, L.P.
    Target
    Merritt Properties
    Seller
    Almanac Realty Investors
    Industry
    Real Estate

    Centerbridge Partners led a $750 million strategic investment in Merritt Properties, including dedicated growth capital to expand Merritt’s shallow bay industrial portfolio across existing and future markets. The agreement included Centerbridge acquiring the ownership interest previously held by Almanac Realty Investors (Neuberger Berman’s real estate investment arm), while Almanac reaffirmed continued support and Merritt family/majority control was preserved.

  • Buyer
    Prodos Capital, Manolin Investment Group, Tecum Capital, Genesis Park Capital, SharpVue Capital
    Target
    Procare Ambulance of Maryland

    Procare Ambulance of Maryland entered into a strategic partnership backed by Prodos Capital and Manolin Investment Group, with growth capital also provided by Tecum Capital, Genesis Park Capital, and SharpVue Capital. The investment is intended to accelerate Procare’s geographic expansion (including into Virginia) and further develop its Mobile Integrated Healthcare (MIH) program, along with workforce, fleet, and service scaling.

  • Buyer
    Alpha Generation, LLC, ArcLight Capital Partners, LLC
    Target
    Brandywine Power
    Seller
    Onward Energy Holdings, LLC
    Industry
    Energy
    Type
    Buyout

    Alpha Generation (AlphaGen), together with ArcLight Capital Partners, completed the acquisition of Brandywine Power from Onward Energy Holdings. Brandywine is an approximately 250 MW combined-cycle generating facility in Prince George’s County, Maryland, strengthening AlphaGen’s capacity and reliability footprint in the Mid-Atlantic/PJM PEPCO Zone.

  • Buyer
    Narrow River Capital
    Target
    Drill-Tech, LLC
    Seller
    Mike Kalvaitis (founder)
    Type
    Buyout

    Narrow River Capital has acquired Drill-Tech, LLC, a specialty utility contractor headquartered in Chester, Maryland. Drill Tech provides horizontal directional drilling and underground utility installation services for fiber, electrical, water, sewer, and natural gas projects, and management will continue with Mike Kalvaitis as Vice President of Business Development.

  • Buyer
    Eir Partners
    Target
    QuartzBio

    Eir Partners acquired a controlling interest in QuartzBio, a life science technology company providing connected sample and biomarker intelligence for clinical-stage biopharma. The growth investment is intended to help QuartzBio expand its biomarker intelligence offerings and scale operations, while accelerating platform enhancements such as AI-driven automation, interoperability, and enterprise scalability.

  • Buyer
    Sorren
    Target
    Gorfine, Schiller & Gardyn
    Type
    Addon

    Sorren, a Top 50 accounting firm backed by DFW Capital Partners, acquired Gorfine, Schiller & Gardyn, a CPA firm headquartered in Owings Mills, Maryland. The deal expands Sorren’s Mid-Atlantic presence and adds an office in Owings Mills.

  • Buyer
    LEARN Behavioral, Gryphon Investors
    Target
    Little Leaves Behavioral Services
    Seller
    FullBloom
    Type
    Addon

    LEARN Behavioral (backed by Gryphon Investors) acquired Little Leaves Behavioral Services from FullBloom, closing the deal on May 11, 2026. The transaction adds Little Leaves’ 18 center-based ABA programs across Maryland, Virginia, and Florida to LEARN’s existing platform, strengthening LEARN’s density in the Mid-Atlantic and Southeast.

  • Buyer
    Maewyn Capital Partners LLC
    Target
    Chiron Real Estate Inc.

    Chiron Real Estate Inc. (NYSE: XRN) entered into an agreement for up to a $100 million delayed-draw, convertible perpetual preferred equity investment led by Maewyn Capital Partners. The financing is designed to support Chiron’s portfolio repositioning toward higher-return healthcare real estate opportunities, including senior housing, with funds drawn over six months subject to closing conditions.

  • Buyer
    NextPoint Group
    Target
    UScontracting
    Industry
    Cybersecurity
    Type
    Addon

    NextPoint Group (NPG), a Godspeed Capital-backed platform for intelligence and defense technology and mission enablement, announced it has acquired UScontracting. The deal adds cybersecurity, SIGINT, and data analysis software development capabilities to expand NPG’s offering to national security customers.

  • Buyer
    Flacks Group
    Target
    Arch Amenities Group
    Type
    Buyout

    Flacks Group, a global investment firm, announced it has acquired Arch Amenities Group, a national operator of wellness and longevity amenities for hospitality, high-end residential communities, and commercial real estate. The acquisition is intended to strengthen Flacks Group’s position in luxury hospitality and wellness by scaling Arch’s experience-driven amenity platform across more locations.

  • Buyer
    F2 Strategy, Renovus Capital Partners
    Target
    Meradia
    Industry
    IT Services
    Type
    Addon

    F2 Strategy, a technology consulting firm backed by Renovus Capital Partners, acquired Meradia, a Maryland consultancy focused on Salesforce implementations and cloud infrastructure services. The deal was announced on January 13 as part of F2’s buy-and-build strategy in the fragmented IT consulting market, with financial terms not disclosed.

  • Buyer
    Core Equipment Group, LB GTMA Opco, LLC (affiliate of LB Advisors LLC)
    Target
    GT Mid Atlantic LLC
    Type
    Addon

    Core Equipment Group acquired GT Mid Atlantic LLC, a heavy construction equipment dealer, including its assets and employees. The deal closed on February 27, 2026, through an LB Advisors affiliate, expanding Core’s CASE Construction Equipment dealer footprint across New Jersey, Maryland, Delaware, and the greater Philadelphia area.

  • Buyer
    Vision Innovation Partners
    Target
    Frederick Eye Institute
    Type
    Addon

    Vision Innovation Partners (VIP) has acquired Frederick Eye Institute, a comprehensive ophthalmology practice in Frederick, Maryland. The transaction is VIP’s 28th add-on acquisition since its founding in 2017 and is intended to expand patient access and increase capacity in a key Maryland market.

  • Buyer
    SouthernCarlson
    Target
    Greenwald Supply Direct
    Seller
    Kyocera Corporation
    Type
    Addon

    SouthernCarlson, a distributor of fasteners, tools, and construction supplies, announced its acquisition of Greenwald Supply Direct (GSD), a specialty distributor serving commercial contractors across the Mid-Atlantic. The deal is intended to strengthen SouthernCarlson’s footprint in the region and broaden its access to product breadth and jobsite solutions through SouthernCarlson’s portfolio and national distribution network. Financial terms were not disclosed.

  • Buyer
    Standard Solar, Inc.
    Target
    AC Power's six-project community solar portfolio (28.8 MW in New Jersey and Illinois)
    Seller
    AC Power
    Industry
    Renewable Energy
    Type
    Buyout

    Standard Solar acquired a six-project, 28.8 MW community solar portfolio in New Jersey and Illinois from AC Power. The projects are sited on closed landfills and brownfield parcels and are expected to transition previously disturbed sites into long-term community energy assets.

  • Buyer
    Blue Fire Equity
    Target
    Jovian Concepts
    Industry
    IT Services

    Blue Fire Equity, a Washington, D.C.-based investment firm focused on defense and government technology, announced a strategic investment in Jovian Concepts. Jovian Concepts is a Maryland-based intelligence and engineering services provider supporting the U.S. defense and intelligence community, with capabilities across systems engineering, software development, SIGINT systems, and data privacy/legal compliance.

  • Buyer
    HealthMark Group
    Target
    Purview (Nimble Co., LLC, dba Purview)
    Type
    Buyout

    HealthMark Group acquired Purview, a cloud-based medical imaging company based in Annapolis, Maryland. The acquisition integrates Purview’s secure medical imaging and expert second opinion platforms into HealthMark’s clinical information exchange solution to modernize digital access to imaging records.

  • Buyer
    Ally Services
    Target
    J Hood Services, Tri-County Aire, Above & Beyond
    Type
    Addon

    Ally Services (backed by Watchtower Capital) completed three add-on acquisitions in 2025: J Hood Services (Manassas, VA), Tri-County Aire (Charlotte Hall, MD), and Above & Beyond (Laurel, DE). The deals expand Ally’s residential HVAC platform across Virginia and adjacent markets while preserving each acquired business’s local brand and employee base.

  • Buyer
    Auria, Enlightenment Capital
    Target
    RKF Engineering Solutions, Kythera Space Solutions
    Type
    Addon

    Auria, a Colorado Springs-based C3 software and solutions provider and portfolio company of Enlightenment Capital, has acquired RKF Engineering Solutions and Kythera Space Solutions, both headquartered in Bethesda, Maryland. The add-on acquisitions expand Auria's SATCOM engineering, spectrum management, and autonomous payload software capabilities to deliver end-to-end command, control, and communications (C3) solutions for U.S. Space Force, other government customers, and commercial SATCOM operators.

  • Buyer
    Sheridan Capital Partners
    Target
    ICANotes
    Industry
    Software
    Type
    Buyout

    Sheridan Capital Partners completed an investment in ICANotes, a purpose-built electronic health record (EHR) and practice management platform serving behavioral health providers. Financial terms were not disclosed; Sheridan said it will support ICANotes' product development and nationwide expansion to scale the company's behavioral-health-focused EHR and practice management capabilities.

  • Buyer
    Mercer Global Advisors, Inc. (Mercer Advisors)
    Target
    Glass Jacobson Wealth Advisors
    Type
    Buyout

    Mercer Advisors, a Denver-based national RIA, has acquired Glass Jacobson Wealth Advisors, a Baltimore-based wealth management firm overseeing approximately $1 billion in assets under management. The deal expands Mercer's Mid-Atlantic footprint and brings Glass Jacobson's tax-integrated wealth management capabilities onto Mercer's national platform.

  • Buyer
    Reliable Energy Partners, Soundcore Capital Partners
    Target
    Economy Propane
    Seller
    Doug McKnew, Bobby Perry
    Industry
    Energy
    Type
    Addon

    Reliable Energy Partners, a propane distribution platform owned by Soundcore Capital Partners, has acquired Economy Propane, a bulk-propane distributor headquartered in Baltimore, Maryland. The add-on expands Reliable’s footprint into the Mid-Atlantic and broadens the platform’s capabilities into bulk propane distribution to serve residential, commercial and industrial customers.

  • Buyer
    Aretum, Renovus Capital Partners
    Target
    Veterans Engineering
    Industry
    IT Services
    Type
    Buyout

    Aretum announced its acquisition of Veterans Engineering, a federal technology solutions provider serving the U.S. Department of Veterans Affairs and other federal clients. The deal expands Aretum’s cloud delivery, cybersecurity, and digital transformation capabilities and positions the combined organization for continued growth across federal and state government markets.

  • Buyer
    Reconomy, Lincoln Waste Solutions by Reconomy
    Target
    Integrated Waste Analysts
    Type
    Addon

    London-based Reconomy has acquired Integrated Waste Analysts (IWA), a Hanover, Maryland industrial waste-management and recycling services provider, through its North American platform Lincoln Waste Solutions by Reconomy. The deal, IWA being the seventh add-on to the Lincoln platform, expands Reconomy's U.S. capabilities in data-driven waste services, equipment rental and commodity management as it scales across North America.

  • Buyer
    Diversis Capital
    Target
    Kermit

    Diversis Capital has made a strategic growth investment in Kermit, a Brooklandville, Maryland‑based physician preference item (PPI) spend management and analytics platform. The capital will fund Kermit's geographic expansion across the United States, United Kingdom and Ireland and accelerate development of AI‑powered analytics and predictive capabilities to help hospitals control implantable device spend.

  • Buyer
    Safe Harbor Marinas
    Target
    Port Annapolis
    Industry
    Real Estate
    Type
    Buyout

    Safe Harbor Marinas closed its acquisition of Port Annapolis (a 16-acre, 250-slip marina and boatyard) on November 11, 2025, adding the facility to its global portfolio. As a result, subsidiary Bluewater Yacht Sales will relocate operations to the Port Annapolis site to expand storage, service capabilities, and yacht sales presence in the Annapolis/Chesapeake Bay market.

  • Buyer
    Miller Environmental Group, Coalesce Capital
    Target
    ACE Environmental Services
    Type
    Addon

    Miller Environmental Group, a Coalesce Capital portfolio company, has acquired ACE Environmental Services, a full-service environmental contractor operating throughout the Mid-Atlantic. The deal expands Miller's Mid-Atlantic footprint and capabilities in remediation, emergency response, tank management and industrial cleaning as part of its disciplined consolidation strategy.

  • Buyer
    Omega Systems
    Target
    PEAKE Technology Partners
    Industry
    IT Services
    Type
    Addon

    Omega Systems, a managed IT and cybersecurity provider, has acquired PEAKE Technology Partners, a Bowie, Maryland-based healthcare managed services provider, to deepen its HIPAA compliance, EHR and clinical AI capabilities and expand its Mid-Atlantic healthcare footprint. The deal is Omega's first acquisition since partnering with Revelstoke Capital Partners in January 2025 and is intended as an add-on to accelerate healthcare-focused managed services growth.

  • Buyer
    Astra Service Partners, Orion Group, Alpine Investors
    Target
    Knott Mechanical, Inc.
    Type
    Addon

    Astra Service Partners, a division of Orion Group and portfolio company of Alpine Investors, has made an investment in Knott Mechanical, Inc. SC&H Capital advised Knott Mechanical on the transaction. Knott Mechanical, founded in 2002, provides mechanical and HVAC maintenance, repair and retrofit services to over 1,700 buildings across the Mid-Atlantic.

  • Buyer
    Epiphany Dermatology
    Target
    Modly Dermatology
    Type
    Addon

    Epiphany Dermatology announced a partnership with Modly Dermatology to expand its presence in the Baltimore, Maryland market. Dr. Charlotte Modly and her single-location practice in Reisterstown, MD will join Epiphany's provider network and gain access to Epiphany's operational support and clinical resources.

  • Buyer
    Xcelerate Solutions, McNally Capital
    Target
    clearAvenue
    Industry
    IT Services
    Type
    Addon

    Xcelerate Solutions, a portfolio company of McNally Capital, has acquired clearAvenue, a Columbia, Maryland-based provider of software development, AI/ML, big data analytics and cloud services for federal agencies. The acquisition expands Xcelerate's technical capabilities and the combined business will operate as Xcelerate Solutions, with the combined organization representing roughly 1,500 technology professionals.

  • Buyer
    Merit Financial Advisors
    Target
    Obsidian Planning Solutions
    Type
    Buyout

    Merit Financial Advisors acquired Obsidian Planning Solutions, adding $476 million in client assets and opening two new offices in Rockville and Columbia, Maryland. The deal—Merit's 50th acquisition—deepens Merit's business succession planning capabilities as partners Patrick Carroll and Todd Feldman and their team join Merit; financial terms were not disclosed.

  • Buyer
    Bain Capital Real Estate, BlueWater Marinas
    Target
    Kent Narrows Boatel
    Seller
    Rob Marsh, Jody Schulz
    Industry
    Real Estate
    Type
    Addon

    Bain Capital Real Estate, working with marina operator BlueWater Marinas, has acquired Kent Narrows Boatel (KNB), a Class-A heated drystack marina on Kent Island, Maryland. The property — which offers 375 slips and over 12,000 square feet of commercial space — will become the fourth marina in the Bain/BlueWater portfolio and will be operated to enhance customer experience and regional market presence.

  • Buyer
    Northrim Horizon
    Target
    ACG Systems
    Type
    Buyout

    Northrim Horizon, a Mesa, Arizona-based permanent capital investment firm, has acquired ACG Systems, a Maryland-based systems integrator and technical service provider for mission-critical wireless communication systems. Northrim named Thomas Montalbano as CEO and said ACG will serve as a platform for additional organic growth and acquisitions in the wireless communication services industry.

  • Buyer
    Salt Creek Capital, HCAP Partners
    Target
    Real Diagnostics, LLC
    Type
    Buyout

    Salt Creek Capital has acquired Real Diagnostics, LLC (RealDx), a Reisterstown, Maryland-based specialist diagnostic laboratory serving physician offices and clinics across 17 states. HCAP Partners has invested to support Salt Creek's acquisition and to help RealDx scale operations, expand geographic reach, and enhance workforce and service capabilities; terms were not disclosed.

  • Buyer
    Ames Watson
    Target
    Claire's Holdings LLC, Claire's (North America business operations and intellectual property), Claire's/Icing stores in North America
    Seller
    Claire's Holdings LLC
    Industry
    Retail
    Type
    Buyout

    Ames Watson, a privately held investment firm, completed its $140 million acquisition of Claire’s business operations and intellectual property in North America from Claire’s bankruptcy proceedings. The deal preserves a significant portion of Claire’s mall footprint by acquiring at least 795 of its approximately 1,500 North American stores, with the remainder expected to close.

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