Private Equity-Backed Acquisitions in Texas

Thompson Safety, a national provider of fire protection and workplace safety services, has acquired Houston-area Fulshear Fire Protection to strengthen its presence in the Greater Houston market. The acquisition increases Thompson's local technician roster and service capacity, expands its commercial and industrial customer base, and is expected to create cross-sell opportunities across Thompson's safety and fire protection offerings.

Harvest Commercial Capital (HCC) announced a merger with Crossroads Impact Corp (CRSS) to combine HCC’s owner-occupied small business commercial lending platform with Crossroads’ residential CDFI capabilities. The combined organization will continue operating under their respective brands and aims to expand access to capital in low- and moderate-income communities while enhancing CRA and SBA-focused lending solutions.

Dallas-based private equity firm Trive Capital has made a control investment in Rolfson Oil, a Texas-headquartered fuel, oils and lubricants distributor focused on energy customers. Subsequent to Trive's investment, Rolfson acquired Oklahoma City-based Flint Logistics Group to expand its fuel delivery, onsite storage and lubricant distribution footprint across the Southwest U.S.

Topspin Consumer Partners, a consumer-focused private equity firm, has made a strategic growth investment in Grid, a U.S. designer and manufacturer of laminate and phenolic lockers and performance flooring for fitness, athletic, and wellness facilities. The capital will support Grid’s expansion as it scales its vertically integrated design, manufacturing, logistics, and installation capabilities across the United States.

Victor Capital Partners, a middle-market private equity firm, has acquired Specialty Fenestration Group, a Houston-based designer and manufacturer of transaction and high-security window and door solutions (including the Quikserv and U.S. Bullet Proofing brands). The investment — financed in part by Sound Point Capital Management and Fidelity Direct Lending — is intended to support product innovation, market expansion and scaling of the platform; River Associates completed the sale to Victor Capital.

Green Heron Partners, a Houston-based lower middle market private equity firm, announced a strategic growth investment in Regency Plumbing Contractors, a commercial plumbing contractor serving the Greater Houston area. Regency's executive leadership will remain in place with a significant ownership stake; the capital and operational support will be used to build a broader facility services platform and support geographic and capability expansion.

The Vistria Group has acquired Lumen Holdings, a Dallas-based, technology-enabled managing general agent (MGA), and established it as a new platform within Vistria's Financial Services strategy. The investment will support expansion of Lumen’s KURRENT digital underwriting platform, underwriting capabilities across commercial and personal lines, and broader program launches nationwide.

Revau Advanced Underwriting, a Novacap-backed North American MGA, has acquired Triad Oilfield Underwriters, a Houston-area MGA and wholesale broker specializing in oil & gas and marine risks. The add-on expands Revau's specialty underwriting and placement capabilities in the U.S., enhancing its energy and marine product offering and U.S. footprint.

SunSource Holdings has completed the acquisition of Vytl Controls Group (formerly PVI Holdings) from MiddleGround Capital; financial terms were not disclosed. Vytl, headquartered in The Woodlands, Texas, operates 32 branches across 11 states with more than 1,100 employees and provides distribution, design, repair and remanufacturing of valves, actuators and other flow control products; the deal broadens SunSource’s flow control solutions capabilities and distribution footprint.

Western Smokehouse Partners, backed by Monogram Capital Partners, has acquired Junior's Smokehouse, a family-owned jerky and meat snack manufacturer based in El Campo, Texas. The deal expands Western's national manufacturing footprint, adds capacity and private-label production capabilities, and follows Western’s recent facility expansions and Monogram’s continued investment in supply-chain manufacturing platforms.

Ryan, a global tax services and software provider, has acquired Meritax Advisors, a Texas-based commercial property tax consulting firm with offices in Frisco and Austin. The acquisition adds Meritax's property tax valuation, litigation management, and portfolio advisory capabilities to Ryan's Property Tax practice and brings Meritax partners and approximately 20 additional team members into Ryan's U.S. operations.

BharCap Partners' portfolio company Insurvia has acquired Pronto Insurance, a Texas-based distributor and managing general agent (MGA) of personal lines insurance founded in 1997. The deal expands Insurvia's revenue and EBITDA, broadens its geographic presence (notably in Texas and California), and adds a complementary MGA capability to its platform; Pronto will continue to operate as a distinct brand.

Columbus McKinnon Corporation completed its acquisition of Kito Crosby Limited from funds managed by KKR, creating a larger global leader in lifting and securement solutions. The transaction was financed in part by an $800.0 million Series A preferred share investment from CD&R and is expected to realize $70 million of net annual run-rate cost synergies while expanding product capabilities and geographic scale.

Argano has acquired Stormloop Technologies, a Workday partner specializing in HCM, Financials and Adaptive Planning advisory and managed services. The acquisition, which closed in December 2025, expands Argano's enterprise application and cloud transformation capabilities and strengthens its Workday and Adaptive Planning service offerings.

Conga, a Thoma Bravo portfolio company, has completed the acquisition of the B2B business of PROS Holdings, Inc. The deal brings PROS' AI-driven pricing and revenue optimization capabilities together with Conga's CPQ, CLM and document automation offerings to create an end-to-end revenue orchestration platform.

Impact Climate Technologies (ICT), a portfolio HVAC holding company of Ardian, has acquired Larry Wunsch & Associates (LWA), a San Antonio–based commercial HVAC and plumbing equipment representative and distributor. LWA will continue operating under its existing name and leadership while ICT provides strategic, operational, and sales resources to support growth and expand ICT's presence in Texas.

Cetera Financial Group has completed the acquisition of Plains Wealth Management, a Houston-based independent wealth management practice that oversees approximately $400 million in client assets. The Plains team will join The Retirement Planning Group (TRPG), Cetera's employee-based RIA, expanding TRPG's footprint into the Houston market and providing the Plains team with growth and succession options.

Houston-based private equity firm Capstreet has acquired TOPS Field Services, LLC, a Huffman, Texas–based provider of inspection, overhaul and maintenance services for gas and steam turbines, LNG equipment, and generators. Management, including founder and CEO Toby Wooster, will remain with the company as Capstreet partners with TOPS to expand service offerings, enhance capabilities, and pursue geographic expansion; terms were not disclosed.

Integrated Power Services (IPS) has completed the acquisition of TechPro Power Group, Inc., a provider of power systems lifecycle management and field services. The deal expands IPS’s technical capabilities and geographic coverage across North America, enhancing service offerings for mission-critical end markets such as data centers, utilities and oil & gas.

Main Post Partners has acquired HomeWell Franchising Inc., the franchisor of HomeWell Care Services, in a transaction alongside the company’s existing management team. The partnership will recapitalize the franchisor to accelerate franchise growth, expand geographic reach, and enhance support for franchise owners and caregivers; Boxwood Partners served as exclusive sell-side advisor.

TowerBrook Capital acquired Solis Mammography in May 2025 after Chicago-based Madison Dearborn Partners exited its ownership stake. Solis Mammography, headquartered in Addison, Texas, is a multi-location provider of breast imaging and diagnostic services with more than 150 centers and roughly 400 employees.

Livefront and Zeal IT Consultants announced a strategic combination to create a larger digital consultancy offering end-to-end capabilities in digital strategy, experience design, AI-driven platforms, software engineering, and data. The combination creates a team of more than 300 professionals and was supported by a strategic investment in Livefront from Denver-based private equity firm Rallyday Partners.

BV Investment Partners has acquired the Managed Repair Program division from Alacrity Solutions and rebranded the business as Altimeter Solutions Group. The carve-out — the first investment from BV's Fund XII (with capital from Funds XI and XII) — creates a standalone, tech-enabled managed repair platform serving property-insurance carriers and will be operated in partnership with the existing leadership team.

Peachtree Group has completed the acquisition of First Western SBLC, LLC, which operates as PMC Commercial Trust, a Dallas-based nationwide direct lender specializing in SBA 7(a) loans. The transaction, approved by the U.S. Small Business Administration, brings SBA lending capabilities into Peachtree's credit platform while PMC will continue operating under its existing name and leadership.

Kinderhook Industries closed a $1 billion single-asset continuation vehicle transaction, forming Ecowaste Solutions by combining Live Oak Environmental and CARDS Recycling and securing more than $400 million of new equity from participating funds including Goldman Sachs Alternatives and Apollo S3. The new Dallas‑headquartered platform will operate collection and post‑collection waste services across nine Mid‑South states, serving over 400,000 customers and pursuing organic growth and additional acquisitions.

Cordatus Capital and its portfolio company Red Dot Buildings have acquired East Texas Architectural Sheetmetal (ETAS), a Mineola, Texas-based manufacturer of metal building components. The add-on acquisition brings critical component manufacturing in-house for Red Dot to improve lead times, quality control, and cost certainty while supporting platform expansion across the southern United States.

Marksman Titan Security Group, backed by private equity firm Quad-C, has acquired Priebe Security Services, an Austin-based contract security provider. The transaction adds over 450 employees and expands Marksman's presence in Central Texas while enhancing its manned guarding, mobile patrol and technology-enabled security capabilities; terms were not disclosed.

Allworth Financial has acquired Grunden Financial Advisory, a Denton, Texas-based wealth management firm overseeing approximately $500 million in assets under management, adding offices in Denton and Addison and a six-person team. The Grunden partners will remain in place while gaining access to Allworth's centralized operations, compliance, technology, and broader investment, tax and estate planning capabilities as Allworth expands its North Texas footprint.

United Building Solutions, a PE-backed national commercial HVAC platform, has acquired DFW Mechanical Group, a full-service commercial and industrial mechanical contractor based in Wylie, Texas. The add-on expands UBS's footprint across the Southeast and South-Central United States and broadens its HVAC, plumbing, heating, and piping capabilities; financial terms were not disclosed.

Visterra Landscape Group announced a strategic investment in New Braunfels, Texas-based Liberty Lawn & Landscaping to establish a new operational hub and expand service coverage across the San Antonio–Austin corridor. Liberty will remain locally led by founders Christy and Tray Rohlf as part of Visterra's national commercial landscaping platform; financial terms were not disclosed.

TRP Infrastructure Services, a Fort Worth-based pavement marking and traffic control platform backed by Arlington Capital Partners, has acquired Striping Technology, L.P., a Tyler, Texas pavement marking contractor. Striping Technology will operate as TRP's East Texas division to deepen the company's presence in Texas and accelerate TRP's expansion across the Southeast; financial terms were not disclosed.

Lime Rock Partners has closed an equity commitment to Athena Energy Partners, a Houston-based upstream oil and gas company led by former Ensign Natural Resources executives. The capital will support Athena’s acquisition, optimization and development of oil and gas properties with an initial focus on South Texas’ Eagle Ford Shale.

48forty Solutions completed a financial restructuring that reduces its debt by over 80% and injects $75 million of new capital. Investment funds and accounts managed by the company's lenders — including Antares and KKR — will become majority equity holders; the deal coincides with CEO Mike Hachtman's retirement and the appointment of Dave Russell as Interim CEO.

Amberjack Capital Partners completed a majority recapitalization of CIMA Services, L.P., a Houston-area industrial and environmental services provider, in a transaction that closed January 15, 2026. GulfStar Group served as exclusive financial advisor to CIMA; the recapitalization will support CIMA's rapid growth plan while providing liquidity to the founder/owner team.

AIM Investment Group has acquired Micro Forms, Inc., a Garland, Texas-based precision metal stamping and engineering manufacturer founded in 1967. Micro Forms will continue to operate under its existing name and structure while gaining AIM IG's long-term investment support as AIM expands its portfolio of industrial businesses.

Dealerware, a cloud-native fleet management and mobility SaaS platform for automotive OEMs and retailers, has been acquired by a group of growth investors led by Wavecrest Growth Partners and Radian Capital, with participation from Automotive Ventures and automotive executives David Metter and Devin Daly. The investment will accelerate Dealerware's product-development roadmap and expand its suite of mobility and fleet-management solutions; financial terms were not disclosed.

Net Health has acquired Keet Health from WebPT to broaden access to outcomes measurement and remote therapeutic monitoring (RTM) tools for rehabilitation therapy providers. The deal will make Net Health's Limber platform the preferred outcomes and RTM solution for WebPT and Clinicient customers and deepen integrations to support hybrid care models.

H&MV Engineering, a PE-backed high-voltage electrical engineering and construction firm, has acquired Cooke Power Services of Amarillo, Texas to accelerate its U.S. expansion. The acquisition strengthens H&MV’s local delivery in the Midwest and Southwest for data centre, renewables (BESS) and utility projects while retaining Cooke’s local leadership and workforce.

Senske Family of Companies' Emerald Lawns, backed by private equity firm GTCR, has acquired Greenup Lawn and Shrub Care, a Houston-based lawn care provider with more than 40 years of operating history. The add-on strengthens Emerald Lawns' presence in the Houston market as part of Senske's broader Texas expansion and preserves the company's customer and employee relationships as the founders retire.

PestCo Holdings, a portfolio company of Thompson Street Capital Partners (TSCP), has acquired the assets of Bio‑Tech Pest Control, a Spring, Texas‑based provider of residential and commercial pest control services. The add‑on expands PestCo's presence in the Houston metropolitan market; terms were not disclosed. The sellers are owners Pierre Riettini and Jason Pitman.

TA Associates has made a strategic, majority growth investment in OneSource Virtual (OSV), a provider of in-tenant HR and payments BPaaS for the Workday ecosystem. Founders, management, and employees retain a meaningful minority stake while prior investors Halyard Capital and TCV fully exit; the capital will support OSV's product innovation, organic growth, and enhanced customer capabilities.

Avance Clinical, an Australian full‑service CRO, has acquired LumaBridge, a U.S.-based oncology-focused clinical research organization. The deal expands Avance's U.S. footprint and establishes LumaBridge as the foundation of Avance's global Oncology Center of Excellence, strengthening oncology clinical trial capabilities from early‑phase through later‑phase programs.

Momentive Software, a TA Associates-backed platform, has acquired Personify, an Austin-based provider of association management, event management, job board, and member engagement software used by more than 17,000 organizations. The deal expands Momentive’s portfolio of AI-powered, mission-driven SaaS solutions and positions the combined company to serve over 37,000 organizations worldwide with enhanced predictive analytics and integrated platform capabilities.

Align Capital Partners has acquired Armko Industries, a Dallas–Fort Worth building envelope, roofing and waterproofing consulting firm, and will operate Armko as its newest AEC platform. Founder Rodney Ruebsahm will retire and industry executive Josh Brown will lead the company as ACP pursues geographic expansion across the U.S. South and add-on acquisition opportunities to grow service offerings.

Lane42 Investment Partners, in partnership with Karis Midstream Partners, has acquired Aqua Terra Permian, an energy midstream company operating gathering, transportation and saltwater disposal assets in the Permian Basin. The investment will strengthen the company’s balance sheet and provide capital to support growth as the platform will be led by the Karis team with Odely Sakazi as CEO and David Melton as COO.

Allied Services Group, the electrical services platform backed by Bear Castle Capital, has acquired Substations, Inc. (SSI), a high-voltage substation installation and maintenance contractor. The add-on expands Allied’s service capabilities into Texas and strengthens Bear Castle’s electrical services platform in the South-Central United States.

MCS, the national property services provider based in Lewisville, Texas, has been sold in a management buyout to current CEO Craig Torrance and President Andrew Nolan with financial backing from J.P. Morgan Asset Management. The relaunched MCS will retain its brand and narrow focus to commercial, residential and government property services across the United States.

Ascend, a private-equity-backed platform for regional accounting and advisory firms, has integrated Tyler, Texas-based Gollob Morgan Peddy into its platform. The addition brings nine partners and approximately 100 professionals (FY24 net revenue of $17.3 million) to Ascend, expanding the platform's Southwest footprint; GMP will adopt an alternative practice structure with GMP Advisors (affiliated with Ascend) providing tax and business advisory services while attest services remain independently owned and licensed.

Private equity funds managed by Leonard Green & Partners acquired a 60% stake in Topgolf and Toptracer from Topgolf Callaway Brands, valuing the Topgolf unit at approximately $1.1 billion. Topgolf Callaway Brands received about $800 million in net cash proceeds, retained a 40% stake, and used proceeds to repay $1 billion of term loan debt while announcing a corporate name change back to Callaway Golf Company.

Complete, a Charlotte-based MSP backed by private investment firm Heritage Holding, has acquired Columbia Advisory Group (CAG), a Dallas-based cybersecurity and GRC consulting firm. The add-on expands Complete's managed IT and cybersecurity capabilities and brings CAG's expertise serving higher education, state and local government, and mid-market enterprise clients into Complete's platform.