Tracked deals
364
364 tracked deals across 2016-2026.
Tracked deals
364
364 tracked deals across 2016-2026.
Buyer mix
Mixed buyer set
356 pe · 193 strategic
Top trend
Volume peaked in 2021
67 tracked deals announced in 2021.
Buyer Snapshot
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Borgman Capital | 7 | Private investment firm focused on lower middle market ac... | PE |
| Benford Capital Partners | 5 | Chicago-based private equity firm focused on buying and b... | PE |
| Rotunda Capital Partners | 5 | Operationally oriented private equity firm focused on tra... | PE |
| Clearlake Capital Group, L.P. | 4 | Sector-focused private investment firm investing across p... | PE |
| H.I.G. Capital | 4 | Global alternative investment firm providing debt and equ... | PE |
| Midwest Growth Partners | 4 | Lower-middle-market private equity firm investing in manu... | PE |
| Blackwell Capital Group, LLC | 3 | Privately held investment firm focused on acquiring major... | PE |
| CORE Industrial Partners | 3 | Industrials-focused private equity firm investing in Nort... | PE |
| Gryphon Investors | 3 | Middle-market private equity firm focused on Business Ser... | PE |
| Hamilton Robinson Capital Partners | 3 | Lower-middle-market private equity firm focused on contro... | PE |
Last 10 years
Supporting Data
Brightstar Capital Partners acquired Erdman, an architecture and engineering firm specializing in healthcare and senior living facilities. The deal adds a nationally licensed healthcare design specialist to Brightstar’s architecture and design platform, which was established with the 2025 acquisition of KZF Design and now includes Erdman alongside KZF Design.
GreyLion Partners LP announced a new partnership and strategic investment in Tanis Brush, a manufacturer of industrial and abrasive brushes. Terms of the transaction were not disclosed, and Tanis Brush will continue operating from its Delafield, Wisconsin headquarters under current management.
Phoenix Lighting, a portfolio company of JMC Capital Partners, completed its acquisition of Rig-A-Lite LLC, a Texas-based manufacturer of industrial and commercial lighting solutions. The transaction closed effective May 14, 2026, with Rig-A-Lite continuing to operate under its existing brand from its Houston facilities.
Fiserv has entered into a definitive agreement with Bridgeport Partners to form a joint venture that will encompass Fiserv’s ATM Managed Services, Cash 26 Logistics, and MoneyPass businesses. The transaction is subject to regulatory approvals and customary closing conditions, and Bridgeport Partners is expected to assume operational control upon closing.
Graycliff Partners has acquired Tramont Manufacturing, a Milwaukee-based manufacturer of custom-engineered generator enclosures and fuel tanks used in backup power systems. The deal is aimed at expanding Tramont’s manufacturing capacity, investing in systems and infrastructure, and strengthening commercial capabilities, with particular focus on growing data-center and grid resiliency demand.
Seaga Manufacturing, a private equity-backed automated retail and intelligent inventory solutions company, announced it has acquired Three Square Market to expand its micromarket capabilities. The deal combines Three Square Market’s micromarket kiosks, payment technology, software platforms, and market design/build services with Seaga’s vending and intelligent inventory technologies to offer operators a more complete unattended retail platform. Financial terms were not disclosed.
Spectrum Brands Holdings entered into a definitive agreement for a $127 million investment from Oaktree Capital Management in its Home and Personal Care (HPC) business. The deal includes $67 million of convertible preferred equity and a $60 million lien term loan recourse only to the HPC segment, with Oaktree receiving about a 27% stake upon closing.
Littlejohn Capital has completed the sale of Maysteel Industries, a Wisconsin-based provider of custom metal enclosures and precision fabricated solutions, to Steele Solutions, a portfolio company of Revelar Capital. The acquisition expands Steele Solutions’ engineered-products capabilities and deepens its position in fast-growing data center and electrical infrastructure end markets.
GenNx360 Capital Partners’ portfolio company, Heartland Business Systems (HBS), acquired Applied Tech Solutions, a Madison, Wisconsin-based provider of managed IT and cybersecurity services. The acquisition adds Applied Tech’s AI-enabled service delivery platform and expands HBS’s managed services and cybersecurity capabilities across the Midwest and Rocky Mountain regions.
BPOC has completed the sale of Midwest Products & Engineering (“MPE”), a Milwaukee-based contract designer, developer and manufacturer of complex electromechanical and robotic-assisted surgical systems, to Graham Partners. The deal marks BPOC’s exit following its 2019 acquisition with MPE CEO Hank Kohl and the management team.
Radial Equity Partners announced an investment in Thomas Precision Machining (TPM), a provider of replacement parts, service, and equipment for industrial processing applications serving the protein and food processing industries. The partnership is intended to support TPM’s continued growth and operational expansion, including further investment in people, processes, and capabilities. Financial terms were not disclosed, and Tom Goeke will serve as Chairman while Kevin Nyara transitions out as outgoing CEO and owner.
BV Investment Partners has made a majority investment in Moxe Health, an EHR-neutral clinical data exchange platform that enables secure, automated sharing of clinical data between providers and health plans. The partnership is intended to support Moxe’s next phase of growth by accelerating network expansion and deepening embedded EHR relationships.
AeriTek Global Holdings acquired Federal Industries in a carve-out transaction from Standex International Corporation. The deal strengthens AeriTek’s U.S. foodservice manufacturing and distribution platform by adding Federal’s vertically integrated manufacturing facility in Belleville, Wisconsin and its dealer/distributor network.
Quantum Surgical has acquired NeuWave Medical and combined both businesses under a newly created parent, Precision IO Group Inc., to expand a robotic-assisted tumor ablation platform. The deal is supported by investment from Ally Bridge Group and aims to integrate Quantum Surgical's Epione robotic system with NeuWave's microwave ablation technology to broaden access to minimally invasive interventional oncology care.
On Track Partners, a residential and commercial garage door services platform, acquired Carey's Seamless Gutters & Overhead Doors, a southern Wisconsin provider of seamless gutters as well as garage door installation, service, and repair. The deal expands On Track Partners’ Midwest footprint while Carey’s will continue operating under its existing name with its leadership team and employees remaining in place.
Insight Equity Holdings has acquired IKI Manufacturing, a contract manufacturer and contract packager of aerosol products headquartered in Edgerton, Wisconsin. The deal is intended to support IKI’s management team with continued product and service innovations in the aerosol market.
Leo, an Orion Group-backed facilities services network, announced major investments that effectively merge Bevara Building Services and Blackfin into its expanding national platform. The combined operation integrates nearly 300 on-site building engineers across the United States to deepen Leo’s enterprise service capabilities.
PlayPower signed a definitive agreement to acquire BCI Burke, a manufacturer of commercial playground equipment. The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions and regulatory approvals.
HPS/PayMedix closed $33 million of equity and debt financing to accelerate national growth of its healthcare financing and payments platform. The round was led by HLM Investment Partners ($16M growth equity) and included Escalate Capital Partners (providing a $17M term debt facility), RVM Enterprises, and existing investor SV Health Investors.
LongueVue Capital (LVC) has recapitalized Saelens, a Johnson Creek, Wisconsin-based precision manufacturing platform, partnering with the company’s management to support continued growth and investments in automation and global sourcing. As part of the transaction LVC provided growth capital while related real estate was sold to Royal Oak Realty Trust; Saelens operates under the trade names Diamond Precision Products and Coupling Nut Supply and employs ~230 people.
Value Added Distributors (VAD), a PE-backed distributor and fabricator, has acquired L.T.L. Supply, a family-operated wire harness and electrical-assembly manufacturer based in Green Bay, Wisconsin. The add-on expands VAD's manufacturing capabilities and electrical solutions offering, bolstering its service to specialty vehicle OEMs and other mobile fluid power customers; Rotunda Capital Partners, VAD's private equity backer, supported the platform strategy.
EPIC Insurance Brokers & Consultants has acquired Sentry Transportation's direct writing operation, a carve-out from Sentry Insurance that brings more than 500 transportation clients and the associated team. The acquired operation and team will join EPIC's Interstate Motor Carriers business, strengthening EPIC's national Transportation & Logistics practice and trucking insurance capabilities.
Gerard Daniel Worldwide (a Graycliff Partners portfolio company) has acquired Durex Products, Inc., a Luck, Wisconsin-based manufacturer of urethane wear parts and screening media, from Borgman Capital. The add-on deal will keep Durex operating in Wisconsin and aims to expand GDW's manufacturing capabilities, distribution reach and product portfolio across aggregate, mining, recycling and related industrial markets; terms were not disclosed.
Pelican Energy Partners has acquired Hanna Cylinders, a Pleasant Prairie, Wisconsin-based manufacturer of precision-engineered hydraulic and pneumatic cylinders. Pelican will position Hanna as a strategic platform to scale specialized manufacturing capabilities serving nuclear operators and broader industrial markets, while Hanna will retain its name and current management team.
AFM Capital Partners’ portfolio company Pro Products Holdings LLC has acquired Owens Industries, LLC as an add-on to the Pro Products precision machining platform. Owens, based in Oak Creek, Wisconsin, provides ultra-precision CNC machining for aerospace, defense and space markets; Cantor Fitzgerald served as exclusive financial advisor to Owens.
Lindsay Goldberg has agreed to acquire EMCO Chemical Distributors, a founder-owned distributor of industrial chemicals headquartered in Pleasant Prairie, Wisconsin. The deal is expected to transition leadership as founder and CEO Edward Polen retires at closing and Frank Bergonzi will become Executive Chairman of EMCO’s board. Financial terms were not disclosed.
TricorBraun has acquired Craft Beverage Warehouse, a Milwaukee-based digital printing specialist for canned beverage brands. The purchase expands TricorBraun’s North American beverage packaging and digital printing capabilities and will be integrated into CanSource, with Craft Beverage Warehouse operating independently until early 2026; financial terms were not disclosed.
Merit Financial Advisors has acquired Mennenga Tax & Financial, adding $715 million in client assets and more than 35 employees. Founder Marshall Mennenga will join Merit as Wealth Manager, Tax Advisor, and Partner; the deal expands Merit's tax planning and wealth management capabilities in Wisconsin and provides Mennenga access to Merit’s technology and resources. The transaction closed on October 31, 2025; financial terms were not disclosed and FP Transitions advised on the deal.
Los Angeles-based private equity firm Vance Street Capital has partnered with Molded Rubber and Plastic Corporation (MRPC), a family-owned, ISO 13485-certified medical device contract manufacturer headquartered in Butler, Wisconsin. Vance Street will support MRPC's capability and capacity expansion while existing CEO and shareholder Greg Riemer will remain in place; financial and legal advisors and lenders were disclosed but transaction terms were not.
Promus Equity Partners, a Chicago-based private equity firm, completed its acquisition of Dr. Comfort from Enovis Corporation on October 7, 2025. Promus will operate Dr. Comfort as an independent business and partner with management — including newly appointed CEO Kunal Nandy — to invest in product innovation and strengthen the company's position in therapeutic diabetic footwear.
GenNx360 Capital Partners has closed the acquisition of Heartland Business Systems (HBS) from A&M Capital Opportunities. HBS is a Little Chute, Wisconsin–based IT services provider with 675+ employees serving 3,200+ customers across the Midwest; GenNx360 will partner with HBS management as founder Peter Helander retires and Jimmy Buddenberg becomes CEO.
95 Percent Group LLC, a portfolio company of Leeds Equity Partners, acquired All About Learning Press Inc. (AALP), a provider of structured, multisensory literacy products for homeschool families and educators. The deal expands 95 Percent Group’s ability to serve students beyond the classroom, complementing its public-school-based offerings with homeschool-focused programs.
Trivest Partners has announced a partnership and platform investment in Vannguard Utility Partners, a DeForest, Wisconsin-based provider of contract utility locating and damage-prevention services. Vannguard will continue to be led by founder and CEO Randy Bern, and Trivest will support the company's next phase of growth across the Midwest and beyond; NCP, Inc. served as financial advisor to Vannguard.
Tsunami Express Car Wash has closed its acquisition of 53 Take 5 Car Wash locations from Whistle Express Car Wash. The deal expands Tsunami’s Midwest footprint to 74 locations across nine states and includes rebranding and operational integration under the Tsunami CleanTech experience.
Agility Retail Group, a partner company of San Francisco Equity Partners (SFEP), has acquired Infinity Retail Services, a Turtle Lake, Wisconsin–based designer and manufacturer of retail fixtures and displays that serves the telecom channel. Infinity's founders Kevin and Wendy Jansen retain significant equity and the existing management team will continue to run the business; terms were not disclosed.
SensorHubb (Fides Food Service Solutions LLC) has acquired OneEvent Technologies, Inc., a Wisconsin-based temperature monitoring hardware provider; the deal closed July 31, 2025. The acquisition brings hardware design and manufacturing expertise to SensorHubb’s AI-driven environmental monitoring platform, expanding its geographic footprint in the Midwest and enabling a vertically integrated, end-to-end predictive environmental intelligence offering.
Mrs. Gerry's Kitchen, a portfolio company of Sequel Holdings, has acquired Garden-Fresh Foods. Alantra acted as exclusive financial advisor to Garden-Fresh; the family owners (Tom and Vicki Hughes and their sons) and CEO John Colapinto will remain involved after the sale, and the deal brings together two prepared-salad manufacturers to expand scale and capabilities in refrigerated ready-to-eat foods.
Superior Environmental Solutions (SES), a Palladium Equity Partners-backed provider of environmental and industrial services, has acquired Hydroblasters Inc., a Wisconsin Rapids-based industrial services firm. The add-on deal expands SES’s footprint and service capabilities in Wisconsin and across the Midwest; financial terms were not disclosed.
Atlas Financial Services (Atlas) has acquired Central Wealth Management (CWM), an RIA based in Madison, Wisconsin, bringing Atlas' assets under management to more than $230 million. CWM will operate under the Atlas brand with its Madison office retained; founder Eric Heiting will become President and Head of Wealth Management at Atlas as the firm expands its AI-driven wealth platform and mass-affluent offerings.
VisiQuate, an AI-driven revenue cycle management (RCM) provider, has acquired Etyon, a Milwaukee-based healthcare technology firm specializing in RCM machine learning, denial prevention algorithms, and data tokenization. The deal is intended to expand VisiQuate’s ML and data capabilities within its Ana Intelligence Suite to deliver deeper predictive insights and improved denials and payments management for healthcare providers.
GreyLion Partners LP has made a strategic equity investment in Torginol, a Sheboygan, Wisconsin–based manufacturer of decorative flakes, quartz and other materials for resinous flooring systems. As part of the investment Torginol founder and chairman Tom Testwuide Jr. will retire; GreyLion will partner with CEO Jason LaBouve and management to scale sales and marketing, accelerate product development, add value‑added services and enhance manufacturing technology.
Greenix Pest Control, based in Orem, Utah, has acquired the Milwaukee, Wisconsin operations of Rove Pest Control to expand its Midwest footprint. The deal increases Greenix's service area and reinforces its focus on sustainable, residential-focused pest management.
Merit Financial Advisors, a Georgia-based wealth management firm, has acquired AMP Wealth Management of Whitefish Bay, Wisconsin, adding $365 million of assets and expanding Merit's Midwest footprint with a seventh office in Wisconsin. AMP's founder Dr. Jerome Mahalick and his team will join Merit, and AMP's dividend-focused investment strategy will be integrated into Merit's platform; financial terms were not disclosed.
Knowtion Health, a Boca Raton-based, PE-backed revenue cycle management provider, has completed the acquisition of Switch RCM, a data- and technology-first healthcare revenue intelligence firm based in Madison. The deal expands Knowtion’s automation, analytics and recovery capabilities and brings multiple Switch leaders into Knowtion’s executive and innovation teams; terms were not disclosed.
Milwaukee Capital Partners LLC acquired MPP Group LLC in an all-cash transaction effective May 1, 2025, with a minority investment from Concordia University Ventures. MPP Group will remain headquartered in Mequon, Wisconsin and continue to be led by Benjamin Nelson, Ph.D.; the deal provides capital to expand the company's contract analytical and injectable formulation development services.
GetixHealth, a portfolio company of H.I.G. Capital, has completed the acquisition of Americollect, a Manitowoc, Wisconsin-based provider of patient engagement solutions. The deal expands GetixHealth's revenue cycle management (RCM) capabilities and patient financial engagement offerings, with H.I.G. supporting continued investment in technology and scalable operations.
Professional Credit Service (PCS), a Tonka Bay-backed patient financial engagement and recovery services provider, has acquired Elevate Medical Solutions, a U.S.-based medical coding, denials management, and auditing firm. The add-on expands PCS's capabilities into mid-stage revenue cycle management (RCM), combining Elevate's credentialed coding teams and AI-assisted tools with PCS's national footprint.
Soundcore Capital Partners has made a majority investment in Ridge Top Exteriors and launched a new platform, TrussPoint Roofing & Exterior Renovations, to pursue a buy-and-build strategy in the residential exterior services market. TrussPoint named Chad Colony as CEO and will use Ridge Top (headquartered in Madison, Wisconsin) as its initial platform company to expand across roofing, siding, windows/doors, gutters and solar services.
SRM Equity Partners acquired RF Technologies, a Brookfield, Wisconsin–based provider of safety and RTLS solutions for healthcare, senior living, education and hospitality, in a transaction effective June 5, 2025. The deal preserves management continuity (founder Glen Jonas to remain as Non‑Executive Chairman) and positions RFT to scale through operational improvements, digital transformation and strategic acquisitions under SRM’s ownership.
Midwest-based private equity firm SaaS Opportunity Capital (SOC) has acquired Celera Systems, a Milwaukee-based provider of workflow and order/fulfillment software used by large financial services firms. SOC intends to expand Celera's platform beyond its historical bundled distribution model with Toppan Merrill, accelerate integrations (CRM, DAM), add AI capabilities, and bring the solution to a broader set of financial services and regulated-enterprise customers.
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