Acquisitions in Arkansas in 2024

The Computer Works (TCW), an Arkansas-based fiber and fixed wireless internet provider, received a growth capital investment led by The Stephens Group, LLC alongside existing investor Circumference Group. The funding will accelerate TCW’s fiber expansion into underserved Arkansas communities, support preparation for BEAD funding opportunities, and scale its voice and hosting service offerings.

Hub International Limited acquired the assets of Hadfield Agency, Inc., an independent multi-line insurance agency headquartered in Little Rock, Arkansas. The Hadfield team will join HUB Mid-America as Hadfield Agency, a Hub International company; terms were not disclosed and Hub said the deal supports its growth strategy in Arkansas.

Harvest Group, a national integrated commerce agency based in Rogers, Arkansas, has acquired Bold Strategies, Inc., an eCommerce, shopper marketing and creative services firm. The deal expands Harvest Group’s media, shopper marketing and DTC capabilities (including BOLD Labs), increases its managed media spend by ~20%, and brings the combined headcount to about 350 employees.

Landscape Workshop (backed by Carousel Capital and McKinney Capital) has acquired All Around Landscaping, a Northwest Arkansas landscaping company based in Springdale, AR. The founder-owner Jo Lynn Steenbergen will remain involved to support a smooth transition as Landscape Workshop expands its commercial grounds-management footprint into the Springdale / Northwest Arkansas market.

Dark Horse Cannabis has acquired Green Light Dispensary in West Helena (Helena), Arkansas and will rebrand the store as Speakeasy by Dark Horse while relocating the permanent site to Brinkley, Arkansas. The acquisition expands Dark Horse’s retail footprint in Arkansas and aims to improve customer access and create local jobs.

Market Performance Group (MPG) has acquired Team Go, an Inc. 5000–honored TikTok Shop Partner and social commerce agency led by Oliver Bogner. The deal strengthens MPG's social commerce and TikTok Shop capabilities, adding Team Go's retail-media and social-commerce expertise to MPG's omnichannel services; terms were not disclosed.

Terracon, an employee-owned engineering and environmental consulting firm headquartered in Olathe, Kansas, has acquired Flat Earth Archeology of Cabot, Arkansas. Flat Earth's 11 employees will join Terracon and the business will operate as Flat Earth Archeology, A Terracon Company, expanding Terracon's cultural resources and environmental planning capabilities and strengthening its regional footprint in Arkansas.

SPS Commerce acquired SupplyPike, a vertical SaaS provider of invoice deduction management and prevention solutions for CPG suppliers, for approximately $119 million in cash plus $87 million in stock. The acquisition expands SPS Commerce’s retail supply chain product portfolio by adding automated deduction monitoring, dispute automation and revenue-recovery capabilities; SupplyPike will operate as part of SPS’s cloud offerings.

Terracon, an employee-owned engineering consulting firm headquartered in Olathe, Kansas, has acquired Harbor Environmental, Inc., a multi-disciplined environmental and engineering services firm based in Little Rock, Arkansas. Harbor's 38 employees will join Terracon as Harbor Environmental, A Terracon Company, expanding Terracon's capabilities and local presence in Arkansas.

Good Springs Capital LP has completed an investment in Kimbel Mechanical Systems, a Fayetteville, Arkansas-based mechanical contractor offering plumbing, HVAC, and electrical services. The Kimbel family and senior management will remain significant owners and operators as Good Springs partners with the company to accelerate growth and pursue a focused acquisition strategy across its multi-state footprint.

Nuqleous, a Bentonville-based retail analytics and big-data SaaS provider, has acquired Shiloh Technologies, the developer of the ShilohNEXT AI retail data analytics platform. The deal expands Nuqleous's data-integration, analytics and retailer connectivity capabilities (including deeper support for the Walmart supplier/broker ecosystem) to accelerate product development and market growth.

Rejigg facilitated the sale of SmartDraft, a civil engineering software company based in Van Buren, Arkansas, to an unnamed individual investor who acquired roughly half the company with an option to buy a majority over the next three years. The deal closed June 1; the buyer and founder Rex Cooper plan to collaborate on product modernization, workflow improvements, and expanding market awareness.

Cambridge Capital has made a majority investment in STAT Recovery, a machine-learning invoice audit software platform that helps retail suppliers recover improper deductions and compliance fines. The investment will fund technology enhancements, expansion into additional retail ecosystems, and go-to-market growth; Cambridge has appointed Kamal Sundar as CEO and added senior industry executives to STAT's board.

Michelli Weighing & Measurement, a Summit Park-backed platform, has completed a recapitalization of Pioneer Scale Company, a family-owned industrial weighing services provider headquartered in Benton, Arkansas. The deal expands Michelli's service footprint across Arkansas, Texas and Colorado and provides a partner for the Crews family as they transition ownership while strengthening the Michelli platform.

TopBuild Corp. has entered into an agreement to acquire Insulation Works, a Wickes, Arkansas-based insulation installer and specialty distributor that operates three locations and generates approximately $28 million in annual revenue. The acquisition expands TopBuild’s residential, light-commercial and agricultural insulation capabilities and footprint in Arkansas and surrounding states.

Chicago-based 3PL MAI, through its MAI Voice contact center division, has acquired Quality Voices, a Jonesboro, Arkansas-based call center operator. The acquisition expands MAI Voice's southern U.S. footprint and adds political and nonprofit contact center expertise to its omnichannel customer support offerings.

Grote Company, a Columbus, Ohio-based food processing equipment manufacturer, has acquired ProFab, a Springdale, Arkansas-based manufacturer of conveyors and provider of millwright and process piping services for the food (notably poultry) industry. ProFab will remain a standalone operation in Springdale while being integrated into Grote Company's family of brands to expand its capabilities and presence in the food processing and poultry markets.

Olsson, an engineering and design firm headquartered in Nebraska, has agreed to acquire FTN Associates Ltd., a Little Rock–based water and environmental engineering consultant. The deal is expected to close on April 22; approximately 55 FTN employees across Little Rock, Fayetteville, Baton Rouge and Creve Coeur will join Olsson as FTN’s Little Rock office becomes a new Olsson location.

BDV Solutions, a Greenville, South Carolina-based provider of global talent and visa-related staffing services, has acquired Arkansas Global Connect (AGC), a Conway, Arkansas seasonal workforce provider that places workers using H-2A and H-2B visas. AGC founder Dana Deree will join BDV as Vice President for Seasonal Workforce as the acquisition expands BDV's seasonal labor capabilities across hospitality, food processing, agriculture and manufacturing markets.

Blackstone Growth (Blackstone) has made a growth equity investment in 7 Brew Coffee to accelerate the drive-thru beverage chain's U.S. expansion. Jimmy John Liautaud is identified as a selling shareholder; terms were not disclosed.

BaseMap, a GPS hunting and outdoor planning app, acquired Arkansas-based HuntScore on January 24, 2024 to integrate hunt-planning research analytics into its mobile platform. The deal brings HuntScore founder Matt Habiger into BaseMap as Vice President – Data Sciences to lead technology integration and expand BaseMap’s planning, research and analytics capabilities for hunters.

FV Recycling, a portfolio company of Jones Capital based in Hattiesburg, Mississippi, has acquired Linn Paper Stock and QLL Equipment in Little Rock, Arkansas. The add-on deal expands FV Recycling's footprint in Arkansas, strengthens its commercial waste equipment division, and adds a local team and service capability in the Little Rock area.