Professional Services Acquisitions in Minnesota

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.

American Peat Technology (APT) has acquired and reopened the DryJect Minnesota operation, restoring the turf aeration and topdressing service across the state. APT plans to integrate DryJect’s high-pressure injection aeration technology with its PeatBuilt+ soil amendment products to improve turf recovery and expand service offerings across Minnesota and neighboring markets.

Convergint, a global systems integrator, has acquired NuSource Financial LLC, a provider of branch transformation, ATM services and security solutions for U.S. financial institutions. The transaction (terms undisclosed) brings over 140 NuSource employees into Convergint and represents an exit for private equity sponsor Mosaic Capital Partners; Stifel served as NuSource's financial advisor.

Aldaron Partners and True Wind Capital have partnered to acquire DCM Services, a Minneapolis-area leader in estate and specialty receivables recovery. The private equity-backed partnership will support DCMS's growth and scale its proprietary Probate Finder technology and outsourced account resolution services across financial services, healthcare and other end markets.

Cervano Capital, in partnership with Konza Valley Capital, made a strategic growth investment in From The Ground Up (FTGU), a Minnesota-based commercial landscaping services provider. The deal closed on December 5, 2024, with Tradition Capital Bank providing debt financing; financial terms were not disclosed.

GCP Capital Partners has made a significant growth investment in Gavnat & Associates, a leading public adjusting firm headquartered in Eden Prairie, Minnesota. The capital will support Gavnat’s geographic expansion, enhance service offerings, and provide funding for strategic acquisitions to accelerate growth.

NFPA Global Solutions, a newly established, fully owned company of the National Fire Protection Association (NFPA), has acquired Dyne Fire Protection Labs, an independent testing laboratory that provides analysis of fire sprinklers, firefighting foams, antifreeze solutions, and dry chemical agents. The acquisition expands NFPA Global Solutions' compliance testing and advisory capabilities to support code and standards compliance globally.

American Express Global Business Travel (Amex GBT), operated by Global Business Travel Group, Inc., agreed to acquire global business travel and meetings solutions provider CWT in a transaction valuing CWT at roughly $540–$570 million on a cash‑free, debt‑free basis. The deal brings CWT’s ~4,000 customers and technology/services into Amex GBT’s software and services ecosystem, and is expected to generate about $155 million of annual run‑rate synergies and expanded investment capacity in travel technology and services.

Chicago-based Sales Empowerment Group (SEG), a portfolio company of RFE Investment Partners, has acquired Plymouth, Minnesota–based sales training firm Action Selling. The deal adds Action Selling’s multi-program training platform and learning-management capabilities to SEG’s outsourced sales and marketing services; Houlihan Lokey served as SEG’s advisor and Woodbridge International served as sell‑side advisor.

Prospect Partners has made an investment, alongside CCS management, in Customer Contact Services (CCS), a Minnetonka, Minnesota–based provider of technology-enabled virtual receptionist and inbound customer contact solutions. The transaction provides capital and debt financing (senior debt from Enterprise Bank and subordinated debt/equity co-investment from NorthCoast Mezzanine) to support CCS’s growth and a buy-and-build strategy, with Prospect advising on expansion and add-on acquisitions.

Lexitas, a portfolio company of funds advised by Apax, has acquired Depo International, a Minneapolis-based court reporting and litigation support firm with an additional Las Vegas office. The deal expands Lexitas' national footprint and deepens its presence in the Midwest and West U.S. markets.

Benefit Resource, LLC (BRI) has acquired Minneapolis-based 121 Benefits, a provider of pre-tax benefits and COBRA administration services. The deal — BRI’s first acquisition since its 2019 strategic partnership with CIP Capital — strengthens BRI’s Midwest presence and gives 121 Benefits access to BRI’s administrative and payment technology.

Advancea, LLC has acquired Minnesota-based Business AdvantEdge Inc to expand its affinity program offerings and technology capabilities. Terms were not disclosed; Business AdvantEdge’s president Mary Hazzard will work with Advancea’s management to integrate the business as a division of Advancea.