Private Equity-Backed Acquisitions in Wyoming

Mercer Global Advisors, Inc. (Mercer Advisors) has acquired Poterack Capital Advisory (PCA), a digital-first wealth management firm with approximately $265 million in client assets and a Jackson, Wyoming footprint. The deal expands Mercer’s virtual advisory capabilities and deepens its regional presence while giving the PCA team access to Mercer’s institutional investment, tax and family-office infrastructure.

Fundamental Advisors has acquired Trans Aero Ltd, a Cheyenne-based operator of utility, fire suppression and MedEvac helicopter services, adding a fleet of 11 helicopters to the firm's public service helicopter strategy. Terms were not disclosed; the deal is the second acquisition under Fundamental's helicopter investment strategy following an earlier investment in HeloAir and is intended to expand the firm's capability to provide essential aviation services to municipal, government and hospital clients across the United States.

Alliance Technical Group has acquired Slipstream Environmental Services, a Sheridan, Wyoming-based specialist in combustion source emissions testing for the oil & gas sector. Slipstream's ~45 employees and fleet of 23 mobile testing labs will integrate into Alliance's national network to expand combustion source testing capabilities and regulatory compliance services.

Castle Peak Holdings, the investment firm behind the Trailborn hospitality brand, has acquired Snow King Resort in Jackson Hole, Wyoming. The 203-room full-service resort will be renovated and repositioned as Trailborn Jackson Hole to expand Castle Peak's outdoor hospitality portfolio and enter the Jackson Hole market.

TRC Companies has acquired Paustenbach & Associates, a specialist scientific consulting firm focused on toxicology, exposure science and risk assessment, to expand TRC’s health-hazard assessment and litigation-support capabilities. The acquisition adds Paustenbach & Associates’ expert witness and scientific-analysis capabilities to TRC’s environmental and engineering service offerings.

Clairvest Group Inc. (together with Clairvest Equity Partners VI) and ECL Entertainment, LLC have acquired Wyoming Downs, a licensed live horse racing and off‑track betting operator headquartered in Evanston, Wyoming. Wyoming Downs operates a racetrack plus 19 off‑track betting locations with over 1,100 gaming terminals across the state; Clairvest called the investment its 66th platform investment and its 15th and final investment from the CEP VI co‑investment pool.

Inszone Insurance Services has acquired Van Oppen & Co. 2, a specialist insurance brokerage serving the architectural, engineering, and environmental sectors. The deal expands Inszone's niche capabilities and brings VOCO2's industry expertise into Inszone's national brokerage network.

Seneca Partners acquired Wyoming Corporate Services, a Cheyenne-based corporate formation and registered agent services company. Source Capital (via SCCO IV) and White Wolf Private Credit provided debt financing and an equity co-investment to close the transaction and fund growth and compliance-related initiatives; the seller was owner Gerald Pitts.

Summit Casing Equipment, a Fort Worth-based manufacturer of cementation products for the oil and gas industry, has acquired Scepter Supply, LLC, a Cheyenne-headquartered distributor of casing accessories and centralizers. The acquisition expands Summit's product offering and customer base in the U.S. land-based well construction market and brings Scepter's high-impact composite centralizer and distribution footprint into Summit's manufacturing and service network.

Blue Point Capital Partners' portfolio company Weaver Leather has acquired Rex Specs, a Jackson, Wyoming-based premium brand of outdoor products for active and working dogs. The add-on deal will leverage Weaver and Blue Point's supply chain, e-commerce and marketing capabilities to expand Rex Specs' distribution, customer base and product offerings.

Rental Equipment Investment Corp. (REIC), a portfolio company of Kinderhook Industries, has acquired Black Mountain Rentals, Inc., a two-location general equipment rental business based in Pinedale, Wyoming. The acquisition is REIC's fifth add-on under Kinderhook and expands REIC's geographic presence in the Wyoming/Idaho area; financial terms were not disclosed.

American Equipment Holdings, a Rotunda Capital Partners portfolio company, has acquired Industrial Hoist & Crane, a Rock Springs, Wyoming-based provider of overhead crane maintenance, repair and overhaul (MRO) field services. The deal — the 12th add-on for American Equipment since partnering with Rotunda in May 2021 — expands American Equipment's geographic coverage and service capabilities across the Intermountain West; Industrial Hoist will be rebranded as American Equipment.

Physical Rehabilitation Network (PRN), a Gryphon Investors-backed owner-operator of nearly 200 outpatient physical therapy clinics, acquired Gillette Physical Therapy, a single-clinic provider in Gillette, Wyoming. The acquisition marks PRN's entry into Wyoming and is intended to provide clinical and operational support to Gillette PT while expanding PRN's Mountain West footprint.

Funds affiliated with GTCR LLC have made a strategic growth investment in Visionary Broadband, a Gillette, Wyoming-based ISP. The capital will support Visionary’s continued buildout of fiber-to-the-premise networks across Wyoming, Colorado and Montana and help meet match requirements for upcoming state-led grant programs.

Marbis GmbH (marketed as Nitrado), a FLEX Capital portfolio company, has acquired MCProHosting, LLC, a US-based Minecraft and game server hosting provider. The deal is an add-on in Nitrado's buy-and-build strategy to strengthen its presence in the US and become the global leader in game server hosting by combining infrastructure, product development and customer support capabilities.

Alta Convenience (CF Altitude LLC), a joint venture between Fortress Investment Group and Phillips 66, acquired five Get ’N Go convenience stores from Rock Springs, Wyoming-based Red Horse Oil. The seller, Jay Schneiders, monetized his investment; Alta will integrate the stores into its Denver-based portfolio of convenience stores, which totals roughly 106 locations across four states.

Gastro Care Partners (GCP), a PE-backed gastroenterology platform, has completed an affiliation with Gastroenterology Associates of Wyoming (GA), the largest gastroenterology provider in Wyoming based in Casper. The deal expands GCP's regional footprint across the Mountain and Western U.S., gives GA access to GCP's operational capabilities, and makes several GA physicians significant shareholders in GCP; the platform is backed by Varsity Healthcare Partners.

Alpine Air Express, a Provo-based regional air-cargo operator and portfolio company of AE Industrial Partners, acquired 27 aircraft and associated engines, propellers, spare parts and ground support equipment from Great Lakes Airlines. The purchase expands Alpine’s fleet, maintenance support and spare-parts availability and will allow conversion of the Beech 1900D aircraft into cargo configuration using Alpine’s supplemental type certificate (STC). Terms of the transaction were not disclosed.