Private Equity-Backed Acquisitions in New Hampshire

CargoSprint, a Lone View Capital-backed port and freight logistics technology company, has acquired Dray Dog, a drayage software platform that helps drayage operators plan appointments and match capacity. The deal is an add-on to CargoSprint's platform to expand its landside execution capabilities and deepen services for motor carriers and port communities.

MKB Company, the environmental control platform backed by Align Capital Partners, has acquired US Silt & Site Supply, a manufacturer and distributor of erosion and sediment control products based in Bow, New Hampshire. The add-on expands MKB's Northeast footprint and enhances its local service and product capabilities for contractors and distributors.

Solen Software Group has acquired Cairn Applications Inc., a 2008-founded provider of cloud SaaS for the waste hauling industry; the transaction closed in December 2025. Cairn (founder James Moser) supports 350+ customers, manages over 65,000 dumpsters and facilitates nearly $150 million in annual commerce; it will continue operating autonomously under Solen's permanent-capital ownership.

Salas O’Brien has merged with RFS Engineering, a New England-based MEP/structural/civil engineering firm, integrating RFS’s 100+ professionals and offices in Boston, Laconia (NH), and Portland (ME) into Salas O’Brien’s national platform. The combination broadens Salas O’Brien’s MEP/FP, structural, civil, sustainability, and commissioning capabilities across New England; AEC Advisors acted as exclusive financial advisor to RFS.

Micro-Precision Technologies, a PE-backed micro‑electronics manufacturer, has acquired Stellar Manufacturing, a printed circuit board assembly (PCBA) provider headquartered in Salem, New Hampshire. The deal — completed in early October — expands MPT's micro‑electronics platform capabilities and was executed after MPT partnered with private equity firm Great River Capital Partners in mid‑2024; terms were not disclosed.

Argosy Healthcare Partners completed a recapitalization and partnership with Integrated Solutions for Benefits and Insurance Services (IS Benefits), a Hooksett, New Hampshire–based stop-loss and employee benefits consulting firm. The investment will support IS Benefits' technology investments, geographic expansion, and scaled delivery of stop-loss underwriting, specialty drug management, and claims auditing services.

Wall Works Holdings, through its New England platform Optimum Building Systems, has acquired C.I.D. Construction, Inc., a family-owned specialty contractor based in Candia, New Hampshire. The add-on expands Optimum/Wall Works' scale and service capabilities across New England in commercial framing, drywall, and insulation, and is supported by Wall Works' sponsors AVALT and VantEdge Partners.

Visterra Landscape Group has acquired Manchester, New Hampshire-based Outdoor Pride, expanding Visterra's commercial landscaping and snow-removal footprint across New England. Outdoor Pride's leadership team will remain in place and will partner with Riverside Services, Visterra's inaugural New England platform company; financial terms were not disclosed.

LawnPRO Partners, a platform backed by HCI Equity Partners, has acquired New Hampshire-based Seacoast Tree Care and Seacoast Turf Care (together, Seacoast Tree & Turf). The deal is an add-on to the LawnPRO platform to expand its New England footprint and supports the founder Dan Mello's retirement while retaining the company's employees for integration into LawnPRO's operations.

JLL Partners, a New York-based middle market private equity firm, has announced an investment in Vascular Technology, Incorporated (VTI), a Nashua, New Hampshire-based medical device company that develops intraoperative Doppler systems and remote suction/irrigation solutions. As part of the transaction JLL partnered with entrepreneur Nilendu Srivastava and the VTI management team and appointed Greg Groenke as CEO and Lars Marcher as Executive Chairman to accelerate product development and market expansion.

Igneo Infrastructure Partners, a global infrastructure investment manager, has acquired Infinity Aviation Group, a fixed‑base operator (FBO) platform headquartered in Nashua, New Hampshire, including on‑airport assets at Boire Field (KASH). Transaction terms were not disclosed; Igneo named Steven Levesque CEO of Infinity Aviation and said it will invest to grow and develop general aviation infrastructure across North America as part of its dedicated North American strategy.

Meet The People (MTP), a New York-based agency group backed by Innovatus Capital Partners, has acquired Yeoman Technology Group, a Portsmouth, New Hampshire consultancy specializing in retail media and Amazon marketplace strategies. The acquisition expands MTP's retail media and performance marketing capabilities and integrates Yeoman's specialists and proprietary technology into MTP's Swell Media brand structure; terms were not disclosed.

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.

Blue Mantis, a Portsmouth, New Hampshire–based IT solutions and managed services provider, has acquired North Shore Data Services, an IT services firm focused on customized network infrastructure solutions headquartered in Kingston, New Hampshire. The acquisition bolsters Blue Mantis' networking practice (SD‑WAN, WAN/LAN, wireless) and creates cross‑sell opportunities across Blue Mantis’ cyber, cloud and carrier services while adding a vertically diverse set of ~200 customers.

AVALT and VantEdge formed Wall Works Holdings, a platform to partner with regional specialty contractors in the finishing trades, and announced the acquisition of Optimum Building Systems as the platform's second regional hub. Optimum, founded in 1990 and headquartered in Litchfield, New Hampshire, provides drywall, acoustic ceiling tile, waterproofing and exterior cladding installation services to general contractors across northern New England; 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.

Groundworks, a national foundation and water-management platform, has acquired Rescon Basement Solutions of Hooksett, New Hampshire. The deal—Groundworks' 45th acquisition—marks the company's first location in New Hampshire and expands its New England footprint; Rescon's team will continue operating under the Groundworks name.

UK-based testing, inspection, certification and compliance platform Celnor Group has acquired John Turner Consulting (JTC), a New Hampshire–based geotechnical, materials testing and environmental consulting firm. The deal — Celnor's first expansion outside the UK and Ireland and an add-on to the Inflexion‑backed platform — keeps founder John Turner in place and adds roughly 150 employees across eight New England offices.

Inspired Education Group has acquired US Performance Academy (USPA), a Cognia-accredited online school for elite student‑athletes. The acquisition expands Inspired's online schools portfolio and strengthens its capabilities in online K‑12 education and elite student‑athlete support while deepening its presence in the United States.

Thrive, a global technology outsourcing provider, has acquired Secured Network Services (SNS), a New Hampshire–based IT provider serving healthcare, non-profit, and municipal customers. The deal expands Thrive's presence into New Hampshire and deepens its New England footprint while extending Thrive's security operations center and hybrid cloud capabilities to SNS customers; Thrive is PE-backed following a strategic investment from Berkshire Partners and Court Square Capital.

The Hilb Group, a Richmond-based property & casualty and employee benefits brokerage (and portfolio company of The Carlyle Group), acquired a New Hampshire-based property and casualty business that expands its P&C offerings in New England. The acquisition took effect in early 2025 and is an add-on to Hilb Group’s existing platform as it continues regional expansion.

Whitsons Culinary Group, a portfolio company of GenNx360 Capital Partners, has acquired Glendale Senior Dining, Inc., a contracted dining services provider for senior living and long-term care communities. The acquisition adds over 50 New England locations and more than 400 associates to Whitsons, deepening its healthcare/senior-living foodservice presence and expanding its regional footprint.

Trivest Partners has launched Canopy Services, a PE-backed residential roofing and gutter platform, after acquiring Adam Vaillancourt Roofing of Milford, New Hampshire. The platform — backed by Trivest's Mid-Market Fund VII — currently operates 12 locations across five states and will pursue additional acquisitions and organic growth to scale its residential services footprint.

SAM Companies, a leading North American provider of geospatial and inspection solutions, has acquired Doucet Survey, a New England-based land surveying and geomatics firm. The acquisition expands SAM's presence in the Northeast U.S. and brings advanced capabilities in high-definition laser scanning and UAV/geomatics to SAM's service offering.

Worklyn Partners, a holding company focused on cybersecurity and IT services, has acquired Salem, New Hampshire-based IT Management Solutions (ITMS). The add-on expands Worklyn's New England footprint and capabilities in managed IT, cloud services, and cybersecurity as part of its integrated platform of IT and security vendors.

Hale Capital Partners, a New York-based growth private equity firm, led a cooperative recapitalization to acquire a majority stake in Athenium, a Dover, New Hampshire provider of risk and quality management software. The investment brings in Jim Greenwell as CEO and will support product development, AI/analytics capabilities and expansion into new verticals including insurance, financial services and government.

MJH Life Sciences has acquired the EnVision Summit, a certified continuing medical education (CME) conference for ophthalmologists held annually in Puerto Rico. The summit will be integrated into MJH's Physicians' Education Resource portfolio and supported by MJH's eye care brands to expand its ophthalmology education offerings.

Affiliates of Fairfax Financial Holdings Limited agreed to acquire all equity interests in Peak Achievement Athletics Inc. from Sagard Holdings Inc., giving Fairfax control of Peak and its brands including Bauer Hockey, Cascade Lacrosse and Maverik Lacrosse. The transaction was announced in September 2024 and was completed in December 2024; Fairfax said it will provide long-term support to grow Peak's portfolio.

Vapotherm, Inc. has closed a merger with a newly-formed entity organized and funded by an affiliate of Perceptive Advisors, with Perceptive investing $50.0 million of preferred equity and investment affiliates managed by SLR Capital Partners converting approximately $83.0 million of term debt into preferred equity (while retaining $40.0 million of term debt). As a result of the transaction Vapotherm’s common stock trading has been suspended on OTCQX and the company has requested delisting, reflecting a take-private recapitalization to restructure the balance sheet and provide new preferred equity financing.

LawnPRO Partners, a residential lawn-care platform backed by HCI Equity Partners, has acquired Highest Quality Lawn & Pest, a Manchester, New Hampshire-based provider of lawn treatment, tree/shrub and pest control services. The deal — LawnPRO's seventh acquisition — expands the platform into New Hampshire and continues HCI's buildout of the LawnPRO regional platform; financial terms were not disclosed and the founder Matthew Scott will remain running day-to-day operations.

Recognize, a private equity firm focused on digital and technology services, has made a majority investment in Blue Mantis, a Portsmouth, New Hampshire-based IT services provider specializing in managed services, cybersecurity, and cloud solutions. Abry Partners, which had backed Blue Mantis since 2020, will remain a minority investor as Recognize and management pursue growth, capability expansion, and M&A to scale the business.

MB2 Dental, a Charlesbank-backed dental partnership organization, has acquired Montshire Endodontics, a two-location endodontic practice based in Lebanon, New Hampshire and Barre, Vermont. TUSK Practice Sales advised Montshire Endodontics on the transaction, which expands MB2 Dental's partner network into Vermont and the New England region.

Avionté, a Bloomington, Minnesota-based provider of enterprise staffing software, has acquired AkkenCloud, a Nashua, New Hampshire staffing software company. The deal expands Avionté’s end-to-end staffing platform capabilities and brings AkkenCloud customers and employees into Avionté’s ecosystem; terms were not disclosed.

Great River Capital Partners has acquired Micro-Precision Technologies, Inc. (MPT), a Salem, New Hampshire-based manufacturer of high-reliability microelectronics for harsh and defense-critical environments. The deal, facilitated by Benchmark International, positions Great River to expand capabilities in industrial technology and high-reliability electronics and pursue organic growth and potential strategic add-ons.

PDQ has acquired CODA Intelligence and launched PDQ Detect, a vulnerability scanning and management solution that integrates CODA's threat-detection capabilities into PDQ's IT asset management suite. The acquisition expands PDQ's product capabilities to include prioritized vulnerability discovery and remediation for MSPs and IT/security teams.

Navis Food Partners announced that Prime Source Foods, a center-of-the-plate food distributor based in Londonderry, New Hampshire, has joined the Navis platform. The deal strengthens Navis' protein-category capabilities and expands its geographic footprint across New England and upstate New York; Frontenac, a Chicago-based private equity firm, is associated with the Navis platform.

Summit Partners has made a majority growth equity investment in Insurcomm, a Portsmouth, New Hampshire–based provider of commercial and residential property restoration services. The capital will support Insurcomm's national expansion, scaling of operations and team, and a buy-and-build strategy to acquire other restoration providers.

Whitsons Culinary Group, a portfolio company of GenNx360 Capital Partners, has acquired Fresh Picks Café LLC, a Manchester, New Hampshire-based provider of outsourced food service management to more than 50 K-12 schools and summer camp locations. The acquisition expands Whitsons' presence in the New England market; Fresh Picks' regional leadership team will remain in place as part of Whitsons.

Plastifab Industries, a portfolio company of Regimen Equity Partners, has acquired MoldPro Inc., an injection molding business based in Swanzey, New Hampshire, from owner Gary Barnard. The acquisition expands Plastifab's injection molding capabilities and strengthens its footprint in the United States as part of a broader strategy to diversify and enhance its plastics manufacturing services.

Windjammer Capital Investors completed a control acquisition of Bio X Cell, a producer of monoclonal antibodies for pre-clinical research, in a transaction that closed November 6, 2023. Windjammer said it will partner with management to accelerate organic growth and pursue a thesis-driven acquisition strategy to expand Bio X Cell's addressable market.

Amplix, a Gemspring Capital-backed technology advisory and services platform, has acquired substantially all assets of TNS Communications LLC, a New Hampshire-based technology advisor serving ~200 enterprise and SMB customers. The add-on expands Amplix’s managed services, connectivity and cloud-telephony capabilities and strengthens its presence in the New England market; terms were not disclosed.

Bellini Capital has made a $3.5 million growth investment in Compliance Risk, a Governance-as-a-Service provider for managed service providers (MSPs), which will rebrand to Compliance Scorecard. The capital will be used to expand the product roadmap with additional risk-management and governance modules to help MSPs offer compliance and basic security operations services.

MCM Capital Partners completed a majority recapitalization of Tech NH, Inc., a Merrimack, New Hampshire-based technical injection molder that serves the medical device, general industrial, defense and green energy markets. The recapitalization provides Tech NH with growth capital and access to MCM’s sales, digital marketing and business development resources; the deal is the first platform acquisition for MCM Capital Partners IV, L.P.

Trexon, a portfolio company of Audax Private Equity, has completed the acquisition of 603 Manufacturing, a value‑added manufacturer of high‑performance wire and cable assemblies including RF/microwave coaxial assemblies and electro‑mechanical box builds. The deal is an add‑on to Trexon’s Engineered Products Group intended to expand Trexon’s RF, ruggedized and space/aerospace capabilities and broaden its end‑market exposure in aerospace, space and telecommunications.

gWorks, a GovTech provider backed by BV Investment Partners, acquired BMSI in June 2023. The deal brings BMSI’s fixed asset management, tax & utility billing, work management, HR and payroll software into the gWorks product suite to better serve small cities, public utilities and rural counties across the United States.

Switchback Capital LLC, an Austin-based private equity firm, has acquired Carlisle Wide Plank Floors, a Stoddard, New Hampshire-based luxury wide plank flooring company. The transaction will support Carlisle's next phase of growth as the company continues its online-first direct-to-consumer and direct-to-pro strategy; terms were not disclosed.

Trystar, a Goldner Hawn portfolio company, has acquired Oztek Corporation to broaden its electric power solutions portfolio and bolster renewable energy and battery energy storage system capabilities. Oztek, headquartered in Merrimack, New Hampshire, manufactures battery inverters, energy storage power conversion systems, bi-directional DC power supplies and printed circuit power supplies.

Pinchin Ltd., a Keystone Capital Management portfolio company, has acquired Ransom Consulting, LLC, a multi-disciplinary environmental consulting and engineering firm with six offices across the Northeastern United States. The acquisition expands Pinchin's U.S. footprint into the Northeast and strengthens its capabilities in site remediation and environmental due diligence.

Clairvest Group Inc., together with its Clairvest Equity Partners VI co-investment vehicle and gaming operator ECL Entertainment, acquired NHCG, LLC and The River Property & Hospitality Group, LLC — operators of the Lucky Moose Casino & Tavern and The River Casino & Sports Bar in Nashua, New Hampshire. The buyers plan to continue operations at the existing sites while developing a large-scale permanent historical horse racing (HHR) facility in Nashua, targeted to open in late 2024.

Accelevation LLC, a portfolio company of LFM Capital, has acquired Workplace Modular Systems, a Londonderry, New Hampshire-based designer and manufacturer of configurable workstations for biotech, laboratory and industrial customers. The add-on is intended to broaden Accelevation’s product offering and create synergies—particularly with its SkyLab subsidiary—while financial terms were not disclosed.