Acquisitions in Arkansas in 2023

The Bluebird Group, a Minneapolis-based omni-channel commerce agency, has acquired OneStone Solutions Group, a retail media and Amazon/Walmart services provider with offices in Bentonville, Arkansas and Denver, Colorado. The acquisition adds OneStone's Amazon account management, retail media advertising and creative capabilities to Bluebird's omni-channel offering to accelerate eCommerce and retail .com services for brand clients.

Builders FirstSource has acquired Encore Building Products, a Springdale, Arkansas-based distributor and retailer of lumber, flooring and other building materials that serves professional contractors and multi-family builders in northwest Arkansas. Anchor Peabody served as exclusive financial advisor to Encore and its shareholders in the transaction.

FreshEdge, a Wind Point Partners–backed super-regional fresh food distributor, acquired Kimball & Thompson Produce Company (KT Produce), a fresh produce distributor headquartered in Lowell, Arkansas. The add-on expands FreshEdge's footprint in the Southern U.S., strengthens its supply chain and adds approximately 40,000 square feet of warehouse capacity across Lowell and Arkansas/Oklahoma locations.

Chicago-based private equity firm Wind Point Partners has acquired Central Moloney (CMI), a Pine Bluff, Arkansas manufacturer of distribution transformers and transformer components. Wind Point will partner with CMI management to invest in production capacity, modernize equipment and systems, and pursue strategic growth initiatives to serve U.S. utilities and other critical-infrastructure customers.

New York-based private equity firm Hemingway Capital led a recapitalization of Chibuzo, LLC, a Fort Smith, Arkansas manufacturer of wood pallets and crates, partnering with Werner and Theresa Hugo. The transaction was financed with subordinated debt and preferred equity provided by Spring Capital Partners, Parkway Capital (a Calvert Street affiliate) and IBC Funds to support the acquisition/recapitalization.

Olympic Steel Inc. (Nasdaq: ZEUS) has acquired Central Tube & Bar (CTB) in an all-cash, immediately accretive purchase; terms were not disclosed. CTB, founded in 1996 with facilities in Conway, Arkansas and Tulsa, Oklahoma and trailing 12-month revenue of approximately $40 million, expands Olympic Steel's tubular and pipe products segment and value-added contract manufacturing capabilities in the Mid-South.

Novatae Risk Group acquired the assets of American Management Corporation (AMC) of Conway, Arkansas effective September 1, 2023. The deal brings AMC's specialty insurance programs for service stations, convenience stores and fuel marketers into Novatae's wholesale/MGA platform to expand its program offerings and distribution capabilities.

Hawkins, Inc. (Nasdaq: HWKN) completed the acquisition of EcoTech Enterprises, Inc., adding its 40th Water Treatment location and expanding Hawkins’ footprint in Arkansas and surrounding states. EcoTech manufactures, blends, packages and distributes water treatment chemicals locally; Hawkins said it will maintain EcoTech’s community connections while using the tuck-in to accelerate regional water treatment growth.

Terracon, an employee-owned engineering consulting firm headquartered in Olathe, Kansas, has acquired Pollution Management Inc. (PMI), an Arkansas-based engineering and environmental services firm with locations in Little Rock and Fayetteville. The acquisition brings PMI's 37 employees into Terracon, expanding Terracon's engineering and in-house construction/remediation capabilities and strengthening its Arkansas operations.

Camping World Holdings, Inc. announced it will acquire multi-location RV dealer Crain RV, which operates locations in Benton, Springdale and Little Rock, Arkansas. The acquisition—expected to close in Q4 2023—will expand Camping World’s footprint in Arkansas and convert the locations into manufacturer-exclusive dealerships after property and facility improvements.

Sowell Management, a North Little Rock–based Registered Investment Advisor, has acquired Sector Grid Advisors, an independent advisory team in Rogers, Arkansas, bringing $120 million in assets and two advisors under Sowell's RIA platform. The team has been rebranded as Trek Wealth Solutions and Sowell opened a Northwest Arkansas office as part of a push into the region and advisor succession/M&A growth strategy.

O2 Investment Partners has invested through its platform FCAH Aerospace to acquire Cobalt Aero Services, a licensed FAA/EASA repair station specializing in nacelle, thrust reverser, and airframe component MRO. The deal adds complementary depot-level repair capabilities to the FCAH platform, supporting geographic expansion, capability enhancement, and increased service offerings to commercial, cargo, and defense customers.

Toronto-based Carbon6 has acquired chargeguard, a Rogers, Arkansas–based SaaS solution that automates recovery of Amazon Vendor Central fees. The deal expands Carbon6's profit-recovery offering into 1P vendor workflows and integrates chargeguard's algorithmic chargeback-recovery platform into Carbon6's marketplace ecommerce ecosystem.

Integrity Marketing Group has acquired MediSource, an independent marketing organization (IMO) based in Little Rock, Arkansas. MediSource's leadership, including President RD Roulston, will join Integrity as part of the partnership to expand Integrity's Medicare distribution capabilities and provide MediSource access to Integrity's technology and shared services.

UES, a national engineering and consulting firm headquartered in Orlando, Florida, has acquired Grubbs, Hoskyn, Barton & Wyatt, a Little Rock, Arkansas-based geotechnical engineering and construction materials testing firm. The transaction expands UES's geotechnical capabilities and regional presence in the southern Midwest, with the acquired firm's leadership remaining to operate day-to-day.

Camping World Holdings, Inc. (Camping World) will acquire Breeden RV Center in Van Buren, Arkansas, with the transaction expected to close in Q2 2023. The deal expands Camping World's footprint in Arkansas—bringing its total Arkansas locations to four—and grows its presence into the Fort Smith market.

Kinderhook Industries has recapitalized CARDS Recycling, partnering with founder and CEO Dan Christensen and the company's management team to provide growth capital and support expansion. CARDS, headquartered in Springdale, Arkansas, operates municipal, commercial, and industrial solid waste collection and post-collection facilities across Arkansas, Kansas, Missouri, Oklahoma and Texas; financial terms were not disclosed.

1WorldSync, a provider of omnichannel product content solutions backed by Battery Ventures, has acquired Webata, an e-commerce technology and analytics firm that helps brands grow sales through keyword optimization, PDP content scoring, store-level publishing and in-stock compliance. The acquisition expands 1WorldSync’s e-commerce analytics capabilities and integrates Webata’s retail-focused insights across 1WorldSync’s customer base of more than 14,000 brands and retailers.

Alimentation Couche‑Tard Inc. (Circle K) entered into a definitive agreement to acquire 45 fuel and convenience retail sites from Arkansas‑based Big Red Stores, a chain founded in 1997 by Doug and David Hendrix. The deal (expected to close in H1 2023, subject to approvals) significantly expands Couche‑Tard’s Arkansas footprint and will be financed with available cash and/or existing credit facilities.

Arcane Plastics, backed by Arcane Capital Partners and an investment from Bluehenge Capital Partners, has acquired Prairie Grove-based Poly-Tech Plastic Molding, a custom injection-molding and extrusion company. The deal expands Arcane's production capacity (adding a 65,000-square-foot facility), broadens its customer base across multiple end markets, and supports a platform strategy to consolidate plastics manufacturing capabilities in North America.

Mytee, LLC (a portfolio company of Dry Fly Capital) has acquired a majority stake in Square Scrub, LLC, a Jonesboro, Arkansas manufacturer of hard-surface floor cleaning machines. The transaction was supported by mezzanine debt and a minority equity investment from First Capital Partners in partnership with Dry Fly Capital and UMB Capital Corporation; Square Scrub founders Kevin and Renee Brady will remain involved as shareholders.