Acquisitions in Alabama in 2019

Affiliates of private equity firm ZMC have made a strategic investment in CommentSold, a Huntsville-based provider of social commerce SaaS and managed services. The minority growth investment will support CommentSold's product, technology and service expansion while founder Brandon Kruse remains CEO; terms were not disclosed.

Pritchard Industries, a portfolio company of A&M Capital Partners II (part of the Alvarez & Marsal Capital platform), has acquired a majority interest in Professional Management of Alabama, Inc. (PMA), a Birmingham-based regional provider of janitorial and facilities services founded in 1987. The acquisition expands Pritchard's presence in Alabama (adding Montgomery coverage), strengthens its industrial and medical facility capabilities, and scales its commercial janitorial footprint in the region.

Arlington Capital Partners agreed to make a majority investment in AEgis Technologies and has appointed Jonathan Moneymaker as CEO. The investment will support expanded R&D and strategic acquisitions as Arlington builds AEgis into a platform focused on space superiority, directed energy, missile defense and related national security capabilities.

Teamworks has acquired INFLCR for an undisclosed amount; INFLCR will operate as a fully owned subsidiary with Founder & President Jim Cavale remaining in his role. Teamworks said it will invest in INFLCR to accelerate growth — expanding the platform’s collegiate and pro reach — while both brands continue to operate separately. Teamworks is based in Durham, North Carolina and has more than 100 employees; INFLCR is Birmingham, Alabama–based with about 20 employees.

Addus HomeCare Corporation completed the acquisition of Hospice Partners of America, LLC for a cash purchase price of $130.0 million. The deal, which New Capital Partners sold, expands Addus’ hospice capabilities and provides strategic entry into new geographic markets including Texas; Hospice Partners serves ~1,000 patients daily across 21 locations with approximately $55 million of annualized revenue.

Industrial Opportunity Partners' portfolio company Union Corrugating Company has acquired Oakland Metal Buildings. Oakland will operate as a plant location supporting the Union platform, increasing Union's manufacturing capacity and providing a foothold in the Alabama market; terms were not disclosed.

Dinocrates Group, a Rockville, Maryland-based strategy and technology advisory firm, acquired Global Management Systems Inc. (GMSI), a secure networking and communications provider serving federal and commercial markets. The acquisition adds roughly 80 skilled employees and expands Dinocrates' capabilities into mission-critical communications, network engineering and secure mobility for defense and commercial customers.

TSG Consumer Partners signed a definitive agreement to acquire a majority stake in Joe Hudson's Collision Center from Carousel Capital, with Carousel and JHCC management remaining minority investors. JHCC operates approximately 110 auto body repair shops across nine Southeastern U.S. states; TSG said it will help scale the platform, expand its geographic footprint, and build out digital and consumer marketing capabilities. Financial terms were not disclosed.

KCM Capital Partners has acquired Industrial Valve Sales & Service (IVS), a specialty valve repair and distribution provider serving power, pulp & paper, chemical and oil & gas customers. Five Points Capital, in partnership with PNC Mezzanine Capital, provided subordinated debt and equity to support the transaction.

Sunbelt Supply, a Clearlake Capital-backed provider of specialty flow control solutions, has acquired Severe Service Specialists (Triple S), a Trussville, Alabama-based provider of valves and services engineered for severe industrial applications. The deal expands Sunbelt's valve and automation product portfolio and adds technical field support to better serve power generation, refining, and other industrial customers; terms were not disclosed.

AEA Investors' Middle Market Private Equity funds completed the acquisition of Jack's Family Restaurants, a regional quick-service restaurant chain operating approximately 170 company-owned units across Alabama, Tennessee, Georgia and Mississippi. Jack's, headquartered near Birmingham (Homewood), Alabama, operates roughly 170 locations and ~5,600 employees and offers a differentiated Southern-inspired QSR concept with opportunities to expand market share in its current footprint.

Valesco Industries completed a majority buyout of T-H Marine Supplies, Inc., a Huntsville, Alabama-based manufacturer of recreational boat parts and marine accessories. Brookside provided subordinated debt and an equity co-investment to facilitate the transaction; the deal recapitalized the existing ownership group and will support growth initiatives including expansion of T-H Marine's e-commerce footprint.

Albireo Energy, the building automation and energy services platform backed by Huron Capital, has acquired Alabama Controls, a Pelham, Alabama-based provider of building automation and HVAC control solutions. The add-on expands Albireo's footprint into the southeastern U.S., deepens relationships in the government and higher education sectors, and retains current Alabama Controls management; financial terms were not disclosed.

Taymax Group Holdings, LP, a large Planet Fitness franchisee backed by Trilantic North America, has acquired MJ Fitness, an operator of four Planet Fitness clubs in the Huntsville, Alabama region. The deal adds MJ Fitness's ~32,000 members and ~60 employees to Taymax's footprint, bringing the buyer to 65 clubs and representing an add-on acquisition and regional expansion for the platform.

Hargray Communications has closed the acquisition of the Alabama assets of USA Communications, expanding the company's network to serve Pell City and surrounding areas. The deal transfers local residential and commercial broadband, TV and phone services to Hargray as it integrates the network and billing systems to enhance service offerings in the southeastern United States.

Benford Capital Partners, together with industry executive Will Daly and in partnership with Atlas management, has acquired Atlas RFID Solutions Store, a Birmingham-based B2B eCommerce value-added distributor and integrator of RFID tags, readers and equipment. Management will remain as significant investors and Benford and Daly plan to support Atlas' next phase of growth as a platform in the RFID/IoT market.

NXTsoft, a provider of intelligent risk management solutions, has acquired Birmingham, Alabama-based Integrated Legacy Solutions (ILS). The acquisition adds approximately $5 million of annual revenue, brings ILS's data conversion and migration technology into NXTsoft's portfolio, and will enable cross-selling of NXTsoft's compliance, data analytics and cybersecurity offerings to ILS's bank and credit union customers.

Denver-based Healthgrades acquired Birmingham, Alabama-based Influence Health to expand its CRM and digital marketing offerings for healthcare customers. The deal (announced Jan. 8, 2019) adds Influence’s technology and customers—bringing the combined company to roughly 1,500 customers—and increases Healthgrades’ workforce while keeping the combined headquarters in Denver.