Tracked deals
13
13 tracked deals across 2020-2026.
Professional Services Buyers & Acquisitions in Minnesota
Buyer mix
Mixed buyer set
10 strategic · 9 pe
Top trend
Volume peaked in 2025
4 tracked deals announced in 2025.
Primary Insight
What Stands Out
- CohnReznick acquired Smith Schafer & Associates, moving into Minnesota and expanding Midwest advisory, assurance, and tax capabilities.
- Systems integrator Convergint acquired NuSource Financial, bringing security and branch transformation capabilities into Convergint’s platform (terms undisclosed).
- Platform and services expansion themes recur: NFPA Global Solutions acquired Dyne Fire Protection Labs to expand compliance testing and advisory capabilities.
- Multiple deals feature technology-enabled service delivery or integration, including Customer Contact Services (CCS) and DCM Services.
| Buyer (example) | Target service area | Deal style in Minnesota |
|---|---|---|
| CohnReznick | Advisory/assurance/tax | Entry + Midwest footprint expansion |
| Convergint | Security & financial services solutions | Platform expansion (terms undisclosed) |
| NFPA Global Solutions | Compliance testing & analysis | Capability add-on for standards work |
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Top Buyers
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| Advancea, LLC | 1 | Association advisory firm specializing in affinity progra... | Strategic |
| Aldaron Partners | 1 | San Francisco-based private equity firm that partners wit... | PE |
| American Peat Technology (APT) | 1 | Privately owned environmental technology and product comp... | Strategic |
| Apax Partners (funds advised by Apax) | 1 | Global private equity firm that advises investment funds ... | PE |
| Benefit Resource, LLC | 1 | Provider of pre-tax account administration and COBRA serv... | Strategic (PE-backed) |
| CIP Capital | 1 | New York-based private equity firm focused on growth-orie... | PE |
| Cervano Capital | 1 | Lower-middle-market investment firm / independent sponsor... | PE |
| CohnReznick | 1 | National professional services firm providing advisory, a... | Strategic (PE-backed) |
| Convergint | 1 | Global systems integrator providing design, implementatio... | Strategic |
| ETS Performance | 1 | Youth athlete performance training organization operating... | Strategic |
Acquisition Volume in Professional Services in Minnesota by Year
Last 6 years
Actual
Full-year estimate
Supporting Data
Recent Transactions
-
March 30, 2026
- Buyer
- ETS Performance
- Target
- Kula Sports Performance (KSP)
- Seller
- Brian Kula (Founder and Managing Partner of Kula Sports Performance)
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Buyout
ETS Performance, a youth athlete performance training organization, announced that it acquired Denver-based Kula Sports Performance (KSP). The acquisition expands ETS’s national athlete training platform, bringing together two science-based training organizations to support more than 50,000 athletes across roughly 80 locations in the United States.
-
January 1, 2026
- Buyer
- CohnReznick
- Target
- Smith Schafer & Associates
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Buyout
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.
-
December 2, 2025
- Buyer
- American Peat Technology (APT)
- Target
- DryJect Minnesota
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Buyout
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.
-
November 6, 2025
- Buyer
- Convergint
- Target
- NuSource Financial LLC
- Seller
- Mosaic Capital Partners, LLC
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Buyout
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.
-
March 17, 2025
- Buyer
- Aldaron Partners, True Wind Capital
- Target
- DCM Services, LLC
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Buyout
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.
-
- Buyer
- Cervano Capital, Konza Valley Capital
- Target
- From The Ground Up
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Growth capital
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.
-
- Buyer
- GCP Capital Partners
- Target
- Gavnat and Associates
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Growth capital
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.
-
- Buyer
- NFPA Global Solutions, National Fire Protection Association (NFPA)
- Target
- Dyne Fire Protection Labs
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Buyout
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.
-
April 7, 2023
- Buyer
- Sales Empowerment Group, RFE Investment Partners
- Target
- Action Selling
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Addon
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.
-
January 24, 2023
- Buyer
- Prospect Partners
- Target
- Customer Contact Services
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Recapitalization
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.
-
November 8, 2022
- Buyer
- Lexitas, Funds advised by Apax (Apax Partners)
- Target
- Depo International
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Addon
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.
-
October 1, 2020
- Buyer
- Benefit Resource, LLC (BRI), CIP Capital
- Target
- 121 Benefits
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Addon
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.
-
July 10, 2020
- Buyer
- Advancea, LLC
- Target
- Business AdvantEdge Inc
- Industry
- Professional Services
- Location
- Minnesota, United States
- Type
- Buyout
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.
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Frequently Asked Questions
What types of professional services are being acquired in Minnesota recently?
Recent transactions include advisory/assurance and tax services, sales training and learning management, compliance testing and fire-safety laboratory services, litigation support, benefits administration/COBRA, and technology-enabled customer contact solutions.
Are Minnesota acquisitions mostly platform builds or add-ons?
Both appear across the deals. Some transactions are positioned as entry into Minnesota or expanding a national footprint, while others focus on adding capabilities to an existing platform (for example, compliance testing, security solutions, or training platforms).
Which firms show up repeatedly as buyers on Minnesota professional services deals?
Recurring buyer names listed for this page include Aldaron Partners, True Wind Capital, Prospect Partners, NFPA Global Solutions (and National Fire Protection Association (NFPA)), Sales Empowerment Group, RFE Investment Partners, Convergint, and RFE Investment Partners.
Do these acquisitions always include publicly disclosed deal terms?
Not always. Some deals note that terms are undisclosed (for example, Convergint’s acquisition of NuSource Financial), while others provide details about operations, offices, and staffing even when financial terms are not released.
Related Acquisition Pages
Professional Services Buyers & Acquisitions
Professional Services Buyers & Acquisitions in Canada
Private Equity-Backed Professional Services Buyers
Professional Services Acquisitions in 2026
Professional Services Acquisitions in 2025
Professional Services Acquisitions in 2024
Professional Services Acquisitions in 2023
Professional Services Acquisitions in 2022
Professional Services Acquisitions in 2020
Acquisitions in Minnesota
Private Equity-Backed Acquisitions in Minnesota
Acquisitions in Minnesota in 2026