Acquisitions in Arkansas in 2021

PotlatchDeltic Corporation merged with Loutre Land and Timber Company, issuing 1.96 million shares of common stock and assuming $6.6 million of debt in exchange for Loutre's 51,340 acres of timberlands in southern Arkansas and northern Louisiana. The transaction is a bolt-on acquisition that expands PotlatchDeltic's timberland footprint and is expected to increase stable cash flows and support dividend growth.

Spectrum Equity led a $163 million minority growth equity investment in Zenwork, the operator of Tax1099 and Compliancely, to accelerate product innovation and scale its digital tax compliance and regulatory reporting platforms. The capital will support product development and growth as Zenwork expands its automated e‑filing, business identity verification, and compliance offerings for small businesses, CPA firms and enterprise customers.

LRS announced the acquisition of Orion Waste Solutions territories across Arkansas, Kansas and Wisconsin and the RAMCO-Alternative Waste Management (AWM) waste and recycling business from Waste Recycling Solutions in the Little Rock, Arkansas MSA. The transactions add 19 municipal contracts, 140 employees, 115 trucks, one C&D landfill and nine facilities, expanding LRS’s geographic footprint and service capabilities in the Midwest and Arkansas.

Brunswick Corporation’s Advanced Systems Group has acquired SemahTronix, a Flippin, Arkansas-based supplier of high-complexity electrical wiring harnesses for marine, mobile and defense markets. The acquisition will be integrated into Brunswick’s ASG to vertically integrate wiring harness capabilities, improve quality and lead times, and expand end-to-end systems offerings.

Quantic Electronics, a portfolio company of Arcline Investment Management, has acquired BEI Precision Systems & Space Company, Inc. from J.F. Lehman & Company. The add-on acquisition expands Quantic's capabilities in mission-critical position feedback sensors, encoders, accelerometers, and frequency reference technologies for aerospace, space, and defense end markets.

Sunstar Insurance Group has partnered with/acquired Campbell & Company Insurance, adding the Camden-based agency to its Arkansas footprint. Jim Black will join the Sunstar Arkansas executive team and the deal expands Sunstar Arkansas to 87 employees across 12 locations; financial terms were not disclosed.

Avery Dennison has agreed to acquire Vestcom, a privately held provider of shelf-edge pricing and branded labeling solutions, for $1.45 billion in cash. The purchase expands Avery Dennison's labeling and retail solutions capabilities and is expected to close in Q3 2021, subject to customary approvals.

General Mills completed the purchase of Tyson Foods’ pet treats business for $1.2 billion in cash, acquiring the Nudges, Top Chews and True Chews brands and a manufacturing facility in Independence, Iowa. The pet treats portfolio generated more than $240 million in net sales for the 12 months ended April 3, 2021; General Mills said the acquisition complements its BLUE pet food portfolio and supports its portfolio reshaping strategy.

Offen Petroleum, a Court Square Capital-backed fuel distributor, agreed to acquire the business assets of Petromark, Inc. and its affiliate Petromark Transportation, LLC, both headquartered in Harrison, Arkansas. The add-on expands Offen’s footprint in the Ozark region (Arkansas, Missouri, Oklahoma) and brings Petromark owners Stephen Lair and Steve Turner into transitional roles, with Steve Turner serving as an advisor.

Southern Bancorp, Inc. has closed its acquisition of DeWitt First Bankshares Corporation and its wholly owned subsidiary Arkansas County Bank, adding three branches in DeWitt, Stuttgart and Lockesburg. The deal expands Southern's community banking footprint in Arkansas and Furthers its mission-driven banking and financial development services; terms were not disclosed.

H.I.G. Capital affiliate completed a recapitalization of Windows USA, partnering with Michael Allbritton, Robert Tankersley, Ryan Guthrie, Eric Oliver and the existing management team to provide resources to accelerate growth. Headquartered in Royal, Arkansas, Windows USA is a vertically integrated provider of replacement vinyl windows and a leading DTC installer serving homeowners across the Southern United States; terms were not disclosed.

Brynwood Partners VIII L.P. has acquired De Wafelbakkers from The Oklahoma Publishing Company (OPUBCO), a subsidiary of the Anschutz Corporation. The acquisition expands Brynwood's food and beverage manufacturing footprint and adds two production facilities and roughly 650 employees to its portfolio.

Relation Insurance Services, a PE-backed national insurance brokerage, has acquired the assets of The McKinney Group (dba McGhee Insurance Northwest Arkansas), a Rogers, Arkansas-based personal and commercial lines agency led by Brandi McKinney. The acquisition expands Relation's Central Region into Arkansas and brings McGhee's personal and commercial line clients into Relation's family of agencies; terms were not disclosed.

World Insurance Associates LLC (WIA), a Top 100 insurance brokerage, acquired Corporate Risk Services LLC and Midwest Risk Management Services, Inc., both based in Rogers, Arkansas, effective February 1, 2021. Terms were not disclosed; the acquired firms specialize in workers' compensation and commercial insurance, and will be integrated into WIA's national brokerage platform to expand its regional footprint and capabilities.

The Firmament Group made a growth investment in GPS Dental, a Jonesboro, Arkansas–based dental services organization that manages 17 dental practices across Arkansas, Indiana and Tennessee. The capital will support GPS Dental’s strategy to build and acquire additional practices while preserving clinical autonomy for dentists and expanding the company’s regional footprint.