Tracked deals
479
479 tracked deals across 2006-2026.
Private Equity-Backed Acquisitions in Minnesota
Buyer mix
Mixed buyer set
497 pe · 261 strategic
Top trend
Volume peaked in 2021
75 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.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| O2 Investment Partners | 8 | Midwestern private equity firm that forms and backs lower... | PE |
| Northstar Capital | 6 | Investment manager specializing in junior capital, mezzan... | PE |
| Arcline Investment Management | 5 | Growth-oriented private equity firm focused on building i... | PE |
| Clearlake Capital Group, L.P. | 5 | Private investment firm focused on software, technology-e... | PE |
| TA Associates | 5 | Global growth private equity firm focused on technology, ... | PE |
| Arsenal Capital Partners | 4 | Private equity firm specializing in middle‑market special... | PE |
| Bertram Capital | 4 | Lower middle‑market private equity firm focused on contro... | PE |
| Francisco Partners | 4 | Global private equity firm focused on technology and tech... | PE |
| Goldner Hawn | 4 | Lower-middle-market private equity firm providing partner... | PE |
| KKR | 4 | Global investment firm with a Technology Growth strategy ... | PE |
Acquisition Volume in Private Equity-Backed in Minnesota by Year
Last 10 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
June 23, 2026
- Buyer
- Reverence Capital Partners
- Target
- Eide Bailly
- Industry
- Accounting & Tax
- Location
- Minnesota, United States
- Type
- Growth capital
Reverence Capital Partners has entered into a definitive agreement to make a significant investment in Eide Bailly, an accounting and advisory firm. The capital is intended to accelerate Eide Bailly’s strategy and expand investment in talent, technology, and evolving service capabilities, while Eide Bailly continues under its current leadership team.
-
June 18, 2026
- Buyer
- Premier Biotech, Align Capital Partners
- Target
- NexScreen, TransMed
- Seller
- John Debrovner (CEO of NexScreen), Ted Bernhardt (owner of TransMed)
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Addon
Align Capital Partners-backed Premier Biotech announced the acquisitions of NexScreen and TransMed to expand its product portfolio, e-commerce capabilities, and global footprint. NexScreen adds point-of-care diagnostic testing presence in Australia and New Zealand, while TransMed strengthens Premier’s catalog and online distribution to 1,000+ direct customer accounts.
-
- Buyer
- Truelink Capital
- Target
- Horwitz
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Growth capital
Truelink Capital entered into a definitive agreement to make a significant investment in Horwitz, a Minneapolis-based mechanical, electrical, and plumbing (MEP) services provider serving the Twin Cities region. Horwitz’s CEO Matt Dekkers and management will continue to lead the business and retain a significant ownership stake, with Truelink supporting operational improvements and future expansion via acquisitions.
-
June 16, 2026
- Buyer
- Bertram Capital, Bluebird's founders
- Target
- The Bluebird Group
- Seller
- H.I.G. Capital
- Industry
- Data & Analytics
- Location
- Minnesota, United States
- Type
- Recapitalization
H.I.G. Capital sold its minority stake in The Bluebird Group as part of a recapitalization of the omnichannel commerce services company by Bluebird’s founders and Bertram Capital. Financial terms were not disclosed. Bluebird is headquartered in Minneapolis and provides data and analytics-driven commerce solutions across retail media, social commerce, marketplaces, creative, and related services.
-
June 10, 2026
- Buyer
- Ridgewood Infrastructure LLC
- Target
- Dauntless Air
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Buyout
Ridgewood Infrastructure LLC acquired Dauntless Air, an aerial firefighting and emergency management infrastructure provider focused on wildfire response under long-term government contracts. Dauntless will continue to be led by CEO Brett L’Esperance and the existing management team, with Ridgewood supporting investment in operational capabilities, customer partnerships, and strategic growth initiatives.
-
- Buyer
- Straylight Capital, Scaleworks
- Target
- Patron Points
- Industry
- Cloud & SaaS
- Location
- Minnesota, United States
- Type
- Growth capital
Patron Points, a Woodbury, Minnesota-based loyalty and customer engagement software provider for convenience stores, secured a strategic growth investment led by Straylight Capital. The round also included Scaleworks and other Straylight co-investors, and the company plans to expand nationally and advance its loyalty, promotions, portal, self-service tools, and AI-powered business intelligence.
-
May 26, 2026
- Buyer
- Northern Oil and Gas, Inc., Carnelian Energy Capital Management, L.P.
- Target
- Parallax Energy Operating Inc., Light-Oil Duvernay Assets (Duvernay East Shale Basin)
- Seller
- Parallax Energy Operating Inc. (Seller referenced for the assets/interest)
- Industry
- Oil & Gas
- Location
- Minnesota, United States
- Type
- Buyout
Northern Oil and Gas (NOG) has agreed to purchase an undivided 25% interest in Parallax Energy Operating Inc.’s Light-Oil Duvernay assets for an initial unadjusted purchase price of CA$350 million (about US$259 million). The transaction is funded with NOG common stock plus cash and includes potential CA$25 million contingent consideration, with NOG expecting to close late in the second quarter of 2026.
-
May 21, 2026
- Buyer
- Trinity Hunt Partners
- Target
- Landscape Endeavors
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Buyout
Dallas-based Trinity Hunt Partners closed its first platform investment under a buy-and-build strategy, acquiring Minnesota-based Landscape Endeavors to form Elevation Landscape Group. The combined business targets a national commercial landscaping platform using the acquired company as an anchor for future add-on acquisitions across North America.
-
May 12, 2026
- Buyer
- Gallant Capital Partners
- Target
- NCCO
- Seller
- Existing family ownership group of NCCO (implied)
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Buyout
Gallant Capital Partners acquired NCCO, a foodservice solutions provider that manufactures labels and other non-food consumables and offers automated labeling and technology-enabled food safety solutions. The investment partners with NCCO’s existing family ownership group and management team to support continued investment in people, products, technology platforms, and commercial capabilities.
-
April 29, 2026
- Buyer
- Integrity
- Target
- TC Financial
- Industry
- Insurance
- Location
- Minnesota, United States
- Type
- Buyout
Integrity, an AI-first insurance and wealth distribution platform based in Dallas, acquired TC Financial, a Minneapolis-based independent marketing organization. The acquisition is intended to expand TC Financial’s access to Integrity’s AI-driven technology platform (IntegrityCONNECT and Ask Integrity) and broaden distribution capabilities, including Medicare-focused offerings. Financial terms were not disclosed.
-
April 28, 2026
- Buyer
- O2 Investment Partners
- Target
- Steffl Drilling & Pump
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Growth capital
Steffl Drilling & Pump, a Minnesota water well drilling and repair services provider, secured private equity growth capital from O2 Investment Partners. The investment will support Steffl’s expansion as a platform to accelerate organic growth and acquisition-driven expansion across adjacent geographies, end markets, and service lines. Financial terms were not disclosed.
-
April 28, 2026
- Buyer
- Corporate Technologies, LLC, Tonka Bay Equity Partners, Northstar Capital
- Target
- RPM Technologies, LLC
- Industry
- IT Services
- Location
- Minnesota, United States
- Type
- Addon
Corporate Technologies, a national managed IT services and cybersecurity provider for small and mid-sized businesses, acquired RPM Technologies, LLC. The deal expands Corporate Technologies' footprint to 21 markets nationwide and strengthens its ability to support organizations in highly regulated, compliance-driven environments, particularly Life Sciences.
-
- Buyer
- Presidio Investors
- Target
- Edge Home Finance
- Industry
- Financial Services
- Location
- Minnesota, United States
- Type
- Growth capital
Presidio Investors has completed a strategic investment in Edge Home Finance, a mortgage brokerage platform headquartered in Minnetonka, Minnesota. The investment is intended to accelerate growth by funding technology and operational infrastructure and supporting future acquisitions, while Edge continues operating with its existing leadership and platform.
-
April 21, 2026
- Buyer
- steute Technologies GmbH & Co. KG, Battery Ventures
- Target
- Electro-Sensors, Inc.
- Industry
- IT Services
- Location
- Minnesota, United States
- Type
- Addon
steute Technologies GmbH & Co. KG has entered into a definitive merger agreement to acquire Electro-Sensors, Inc. for $7.75 in cash per share, representing about a 75% premium over the April 20, 2026 closing price. The deal is expected to close in the first half of 2026, after Electro-Sensors shareholder and other customary regulatory approvals, and would make Electro-Sensors a wholly owned subsidiary.
-
- Buyer
- Premier Biotech, Align Capital Partners
- Target
- GH Solutions
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Buyout
Align Capital Partners-backed Premier Biotech has acquired GH Solutions, a distributor of point-of-care diagnostic testing products. The deal expands Premier’s customer base and broadens the solutions GH can offer to Premier’s existing network, with focus on government and workplace customers.
-
March 20, 2026
- Buyer
- Environmental Lights, Pfingsten
- Target
- Nova Flex
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Buyout
Environmental Lights, a U.S. LED lighting solutions innovator, acquired Nova Flex, a linear lighting provider based in St. Cloud, Minnesota. Nova Flex will continue to operate independently under President David Kidd, while the combined companies aim to broaden product and application breadth and accelerate Nova Flex’s growth.
-
March 19, 2026
- Buyer
- Sterling Investment Partners
- Target
- Cyber Advisors
- Industry
- Cybersecurity
- Location
- Minnesota, United States
- Type
- Buyout
Sterling Investment Partners has acquired Cyber Advisors, a provider of managed security services, cybersecurity consulting, and IT technology solutions. Cyber Advisors, founded in 1997 and headquartered in Maple Grove, Minnesota, serves small, mid-sized, and enterprise clients and supports 1,800+ customers nationwide with a team of 330+ professionals.
-
- Buyer
- 3M, Bain Capital
- Target
- Madison Fire & Rescue, Madison Fire 60 Rescue, Madison Fire 6 Rescue, Scott Safety
- Seller
- Madison Industries
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Buyout
3M entered into a definitive agreement with Bain Capital to form a new joint venture to acquire Madison Fire & Rescue for $1.95 billion. Under the deal, 3M will contribute its Scott Safety business and receive $700 million in cash at closing, with 3M owning 50.1% and Bain Capital owning 49.9%. The transaction is expected to close in the second half of 2026, subject to customary conditions.
-
March 12, 2026
- Buyer
- GreatWater 360 Auto Care, Kinderhook Industries
- Target
- Leighton's Garage
- Industry
- Transportation
- Location
- Minnesota, United States
- Type
- Addon
GreatWater 360 Auto Care acquired Leighton's Garage, a shop in the Twin Cities metro area, marking GreatWater’s entry into Minnesota. The acquisition expands GreatWater’s network to 150 locations nationwide and supports its strategy of partnering with independent operators and integrating them into a centralized support platform backed by Kinderhook Industries.
-
March 10, 2026
- Buyer
- Chicago Pacific Founders
- Target
- Nexben
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Growth capital
Chicago Pacific Founders (CPF) announced a strategic investment in Nexben, an end-to-end benefits utility hub focused on defined contribution and ICHRA strategies. As part of the investment, Mark Smith (operating partner at CPF) was appointed CEO of Nexben.
-
March 3, 2026
- Buyer
- Decks & Docks Company
- Target
- Pro Deck Supply
- Industry
- Building Products
- Location
- Minnesota, United States
- Type
- Addon
Decks & Docks Company, backed by CCMP Growth, has acquired Pro Deck Supply. The deal expands Decks & Docks’ presence into Minnesota and strengthens its specialty decking/building-products distribution footprint.
-
February 26, 2026
- Buyer
- Prep Network
- Target
- Coast 2 Coast Preps
- Industry
- Media & Entertainment
- Location
- Minnesota, United States
- Type
- Buyout
Prep Network, a youth sports platform focused on live events, subscription content, and collegiate athlete recruitment, acquired Coast 2 Coast Preps, a national middle school basketball events and coverage provider. The acquisition is intended to connect Prep Hoops (Prep Network’s high school basketball brand) with middle school programming, creating an end-to-end development and exposure pathway.
-
February 26, 2026
- Buyer
- Tonka Bay Equity Partners LLC
- Target
- CAMP Digital
- Industry
- Marketing & Advertising
- Location
- Minnesota, United States
- Type
- Growth capital
Tonka Bay Equity Partners LLC made a strategic investment in CAMP Digital, a tech-enabled marketing platform for the home services industry. The funding is intended to fuel CAMP’s next phase of aggressive expansion while maintaining founder-led operational continuity.
-
February 26, 2026
- Buyer
- Kava Equity Partners, Southern Ute Indian Tribe Growth Fund
- Target
- The Berg Group
- Industry
- Construction
- Location
- Minnesota, United States
- Type
- Buyout
Kava Equity Partners, the direct private equity investment arm of the Southern Ute Indian Tribe Growth Fund, has acquired The Berg Group, a Minnesota-based specialty contractor focused on industrialized construction, prefabrication and modular systems. The Berg will retain its existing management team and operate with added resources from Kava and the Southern Ute Indian Tribe Growth Fund to expand nationwide capabilities in high-performance environments such as data centers, cleanrooms and advanced manufacturing facilities.
-
February 19, 2026
- Buyer
- Podean, Mountaingate Capital
- Target
- Ad Advance
- Seller
- Permanent Equity
- Industry
- Marketing & Advertising
- Location
- Minnesota, United States
- Type
- Addon
Marketplace-focused agency Podean has acquired Ad Advance, a Duluth, Minnesota–based retail media agency, from Permanent Equity. The deal—facilitated by Podean's private equity partner Mountaingate Capital—adds Ad Advance’s Streamline technology and retail-media/DSP capabilities to Podean’s global marketplaces platform and was announced as creating a combined business with ~260 staff across 17 countries.
-
February 19, 2026
- Buyer
- United Aesthetics Alliance
- Target
- LivSkin MedSpa | Laser
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Addon
United Aesthetics Alliance (UAA), a platform of plastic surgery practices and medspa brands, has partnered with/acquired LivSkin MedSpa | Laser, a Minneapolis-area medical spa with locations in Minnetonka and Excelsior. The deal expands UAA's non-surgical aesthetics capabilities and strengthens its presence in the Minneapolis–St. Paul market.
-
February 13, 2026
- Buyer
- Carolwood LP
- Target
- Indian Motorcycle
- Seller
- Polaris Inc.
- Industry
- Automotive
- Location
- Minnesota, United States
- Type
- Divestiture
Polaris has completed the separation of Indian Motorcycle into a standalone business and sold a majority stake in the brand to Carolwood LP, an independent private equity firm based in Los Angeles. Financial terms were not disclosed; Polaris said the divestiture allows it to sharpen focus on core powersports businesses while Indian Motorcycle will operate independently under new majority ownership.
-
February 10, 2026
- Buyer
- KPS Capital Partners, LP
- Target
- The Wells Companies, Inc.
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Buyout
KPS Capital Partners, LP has signed a definitive agreement through a newly formed affiliate to acquire The Wells Companies, Inc. Financial terms were not disclosed. The transaction is expected to close in the first quarter of 2026, subject to customary closing conditions and approvals.
-
February 2, 2026
- Buyer
- OnePoint BFG Wealth Partners, Rise Growth Partners
- Target
- Voyage Wealth Architects
- Industry
- Wealth Management
- Location
- Minnesota, United States
- Type
- Addon
OnePoint BFG Wealth Partners has acquired Minneapolis-based Voyage Wealth Architects, a wealth management firm overseeing $700 million in AUM. The deal, supported by strategic capital partner Rise Growth Partners, expands OnePoint BFG's planning-led platform, broadens its Midwest presence and will transition Voyage to the OnePoint BFG brand over time.
-
January 30, 2026
- Buyer
- Francisco Partners
- Target
- Jamf
- Seller
- Jamf stockholders (voted to approve the transaction), Vista Equity Partners
- Industry
- Software
- Location
- Minnesota, United States
- Type
- Buyout
Francisco Partners (FP) completed the take-private acquisition of Jamf in an all-cash deal valued at approximately $2.2 billion, paying $13.05 per share. Jamf shareholders approved the transaction on January 8, 2026, and Jamf’s shares were delisted from NASDAQ upon close so the company can operate as a privately held business.
-
- Buyer
- Stacker Holdings, LLC, Halifax West
- Target
- Advanced Irrigation, LLC, Advanced Irrigation, Inc.
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Buyout
Halifax West provided capital advisory services and led the debt-market process, while also making a minority co-investment alongside Stacker Holdings in its acquisition of Advanced Irrigation. The investment adds capital and support to expand Advanced Irrigation’s year-round maintenance offerings and selectively grow its footprint across the Minneapolis–St. Paul metro area.
-
January 27, 2026
- Buyer
- Resonetics
- Target
- Resolution Medical
- Seller
- Arcline Investment Management
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Buyout
Resonetics completed its acquisition of Resolution Medical, expanding its end-to-end design, finished-device, and sub-assembly capabilities for interventional, structural heart, and neuromodulation markets. The deal integrates Resolution Medical’s biosimulation, NPI, and cleanroom assembly expertise with Resonetics’ AGILE Product Development group and advanced manufacturing capabilities.
-
January 23, 2026
- Buyer
- Tide Rock
- Target
- Analog Technologies
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Addon
Tide Rock, an unlevered buyout firm, acquired Analog Technologies, a Burnsville, Minnesota-based electronic manufacturing services (EMS) provider. The deal is an add-on to Tide Rock's EMS platform (working alongside portfolio company Pro-Active Engineering) and expands the platform's PCBA, high-performance interconnect and A&D-certified capabilities.
-
- Buyer
- Ridgeline Roofing & Restoration, Bertram Capital
- Target
- Bold North Roofing and Contracting LLC
- Seller
- Erik McLaughlin, Ryan Emmerich
- Industry
- Construction
- Location
- Minnesota, United States
- Type
- Addon
Ridgeline Roofing & Restoration, a Bertram Capital-backed roofing platform, has acquired Bold North Roofing and Contracting, a roofing and exterior services provider serving the Twin Cities and western Wisconsin. The add-on expands Ridgeline's Midwest footprint; founders Erik McLaughlin and Ryan Emmerich will continue to lead Bold North and are reinvesting in the platform. Financial terms were not disclosed.
-
January 13, 2026
- Buyer
- Charter Impact
- Target
- EdFinMN
- Industry
- Education
- Location
- Minnesota, United States
- Type
- Addon
Charter Impact, a national provider of back-office financial and operational services for charter schools, has acquired EdFinMN, a Minneapolis-based school finance and back-office firm. The deal brings EdFinMN’s local team and client relationships into Charter Impact’s platform to expand capacity, technology, and service offerings for Minnesota charter schools as part of Charter Impact’s national expansion strategy.
-
January 8, 2026
- Buyer
- DwyerOmega, Arcline Investment Management
- Target
- Burns Engineering
- Seller
- Jim Burns, JD Burns
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Addon
DwyerOmega, a portfolio company of Arcline Investment Management, has acquired Burns Engineering to expand its precision temperature measurement product offering. Burns Engineering, founded in 1965 and based in Eden Prairie, Minnesota, provides metrology-grade temperature measurement devices for end markets including biopharma, food processing, and calibration laboratories; financial terms were not disclosed.
-
January 1, 2026
- Buyer
- Avkha Equity Holdings
- Target
- Dart Transit Company, Dart Express
- Seller
- Oren family
- Industry
- Trucking & Fleet
- Location
- Minnesota, United States
- Type
- Buyout
Avkha Equity Holdings, a San Francisco-based private investment firm, has acquired Minnesota-based Dart Transit Company (including Dart Express and related subsidiaries), ending 90 years of Oren family ownership. The transaction (effective Jan. 1) preserves the Dart brand and day-to-day operations while Avkha plans to expand service offerings — including additional lanes, intermodal solutions, and dedicated fleets — and installs a new CEO as part of the leadership transition.
-
January 1, 2026
- Buyer
- CohnReznick
- Target
- Smith Schafer & Associates
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Buyout
CohnReznick acquired Minneapolis-based Smith Schafer & Associates effective January 1, 2026, marking the firm's entry into Minnesota and expanding its Midwest footprint. Smith Schafer brings three local offices, 12 partners and 89 employees, and expertise across professional services firms, construction, manufacturing, and transportation to strengthen CohnReznick's advisory, assurance, and tax capabilities.
-
December 15, 2025
- Buyer
- Canada Pension Plan Investment Board (CPP Investments), Global Infrastructure Partners (GIP)
- Target
- ALLETE, Inc.
- Industry
- Energy
- Location
- Minnesota, United States
- Type
- Buyout
CPP Investments and Global Infrastructure Partners (GIP) entered into a definitive agreement to acquire ALLETE for $67 per share in cash, valuing the transaction at $6.2 billion including assumed debt. The deal is expected to close in mid-2025 (later described as closing around Dec. 15, pending remaining conditions) and will take ALLETE private while delivering approximately $200 million in benefits to Minnesota Power customers and communities.
-
November 10, 2025
- Buyer
- GTCR LLC
- Target
- Surmodics, Inc.
- Seller
- United States Federal Trade Commission (FTC), certain state regulators
- Industry
- Medical Devices
- Location
- Minnesota, United States
- Type
- Buyout
Surmodics announced that a U.S. district court denied the FTC and certain state regulators’ request for a preliminary injunction to block the company’s proposed acquisition by an affiliate of GTCR. Surmodics said the merger remains subject to a temporary restraining order and customary closing conditions, with the company expecting to move toward closing promptly.
-
- Buyer
- SK Capital Partners, LP
- Target
- Precera Medical
- Seller
- LISI Group
- Industry
- Medical Devices
- Location
- Minnesota, United States
- Type
- Buyout
SK Capital Partners has completed the acquisition of LISI Group's Medical division and launched the business as Precera Medical, a precision medical device CDMO headquartered in Big Lake, Minnesota. LISI Group retained a minority stake; SK Capital plans to invest in capacity and capabilities and pursue organic growth and M&A to expand the new platform's service offerings to global medical device OEMs.
-
October 30, 2025
- Buyer
- Westbourne Capital Partners LLC, Monroe Capital LLC
- Target
- Harvey Vogel Manufacturing Co.
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Buyout
Westbourne Capital Partners acquired Harvey Vogel Manufacturing Co., a precision metal stamping and fabrication company that serves aerospace, medical and industrial markets. Monroe Capital led the debt financing and made an equity co-investment to support the platform buyout and growth plan to professionalize and scale the business.
-
October 9, 2025
- Buyer
- FTV Capital, Forerunner Ventures
- Target
- DUOS
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Growth capital
DUOS, an AI-powered digital health platform, raised $130 million in a strategic growth equity round led by FTV Capital with participation from Forerunner Ventures. The capital will accelerate national expansion, deepen DUOS' AI capabilities, and scale its member activation and benefits-execution platform across Medicare Advantage, Medicaid and ACA plans; FTV partners joined DUOS' board and Jenn Kerfoot was promoted to President of Market Operations.
-
October 7, 2025
- Buyer
- Palm Peak Capital, LLC, Stellus Capital Management, LLC
- Target
- Domaille Engineering
- Seller
- ADDMAN Engineering
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Buyout
Palm Peak Capital, a lower‑middle market private equity firm, has acquired Domaille Engineering, a Rochester, Minnesota–based maker of advanced equipment and accessories for producing pre‑terminated fiber optic cables, in a corporate carve‑out from ADDMAN Engineering. Stellus Capital Management provided senior unitranche financing and an equity co‑investment to support the transaction; D.A. Davidson served as Palm Peak's financial advisor and Lincoln International advised Domaille.
-
October 7, 2025
- Buyer
- Smith System, MidOcean Partners
- Target
- Utilimarc
- Industry
- Data & Analytics
- Location
- Minnesota, United States
- Type
- Addon
Smith System, a MidOcean Partners portfolio company, has acquired Utilimarc, a Minneapolis-based fleet analytics and benchmarking provider, to create an integrated driver safety and fleet analytics platform. The combination unifies Smith System's driver training and behavior-based risk management with Utilimarc's telematics and fleet BI capabilities to deliver a closed-loop solution for safer, more efficient fleet operations.
-
- Buyer
- Redwood Family Care Network, Webster Equity Partners
- Target
- Eagles Wing
- Industry
- Healthcare Services
- Location
- Minnesota, United States
- Type
- Addon
Redwood Family Care Network, a multi-state provider of services to individuals with intellectual and developmental disabilities and a portfolio company of Webster Equity Partners, has acquired Minnesota-based Eagles Wing. The acquisition expands Redwood's geographic footprint into the Midwest and augments its residential and day support services for individuals with developmental disabilities.
-
- Buyer
- Blue Sage Capital
- Target
- Skid Pro Attachments Inc., Accessories Unlimited LLC
- Seller
- Ben Hartwell, Josh Sanden, Mark Rasmussen, Travis Ballard
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Buyout
Blue Sage Capital has made a control investment to merge Skid Pro Attachments Inc. and Accessories Unlimited LLC into a vertically integrated platform supplying skid steer and compact track loader attachments. The transaction combines Skid Pro’s direct‑to‑customer sales and marketing capabilities with Accessories Unlimited’s engineering and manufacturing, and Blue Sage will back leadership changes and growth through product expansion, geographic reach, and strategic acquisitions.
-
- Buyer
- Windjammer Capital
- Target
- PDU Cables, Engineered Products Company (EPCO)
- Seller
- Lee Family (Peter Lee and Duncan Lee)
- Industry
- Manufacturing
- Location
- Minnesota, United States
- Type
- Buyout
Windjammer Capital completed the acquisition of PDU Cables and Engineered Products Company (EPCO) in partnership with management and the Lee family; terms were not disclosed. The deal creates a platform positioned to serve accelerating data center power needs and to expand into adjacent product and service offerings for electrical distributors, contractors, hyperscalers and enterprise customers.
-
September 2, 2025
- Buyer
- Metronet, T-Mobile, KKR
- Target
- US Internet Corp (USI)
- Seller
- Everside Capital Partners
- Industry
- Telecommunications
- Location
- Minnesota, United States
- Type
- Buyout
Metronet announced it has acquired US Internet (USI), a pure-play fiber company providing residential and commercial internet services in the greater Minneapolis area. The deal extends Metronet’s footprint in Minnesota, with USI’s 100% fiber network accessible to more than 140,000 homes and businesses. Terms were not disclosed.
-
September 2, 2025
- Buyer
- SI Solutions, LLC, MidOcean Partners
- Target
- Integrity Specialists, LLC
- Industry
- Industrial Services
- Location
- Minnesota, United States
- Type
- Addon
SI Solutions, LLC (backed by MidOcean Partners) has acquired Integrity Specialists, LLC, a provider of advanced non-destructive examination (NDE) and pipeline inspection services based in Annandale, Minnesota. The acquisition expands SI Solutions' NDE and pipeline integrity capabilities and scales its services to the natural gas midstream market as part of its platform growth.
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