Acquisitions in California in 2021

Kustom US, Inc. acquired Five Star Restoration & Construction, Inc., a Sacramento-area disaster restoration and reconstruction firm, with the transaction closing on December 31, 2021. Five Star’s owners Brenda Gallion and Aaron Provencal and the existing staff will remain as the business becomes a division of Kustom to expand Kustom’s California footprint and service capabilities.

Platinum Equity has completed its acquisition of Pelican Products, a Torrance, California-based manufacturer of high-performance protective cases, portable lighting systems and temperature-controlled packaging (Peli BioThermal). The deal, purchased from Behrman Capital, positions Pelican as a platform for growth under Platinum Equity with management, led by CEO Phil Gyori, remaining in place; financial terms were not disclosed.

Gold Flora, a vertically-integrated California cannabis operator based in Costa Mesa, has acquired Airfield Supply Company, a leading San Jose dispensary with on-site cultivation, manufacturing and delivery licenses. The deal closed December 31, 2021; Airfield founder and CEO Marc Matulich will remain in his role and the Airfield brand, management, and staff will be retained as Gold Flora expands its retail and cultivation footprint in California.

Oregon-based ColeBreit Engineering has acquired and merged with California-based Axiom Engineers, with the transaction completed on December 31, 2021. The combined firm — led by Laura Breit succeeding her father Ray Cole — forms a roughly 50-person, women-owned MEP engineering and design practice with offices across Oregon and Northern California.

The Scotts Miracle-Gro Company, through its Hawthorne Gardening Company division, acquired Luxx Lighting (assets) for $215 million and True Liberty Bags for $10 million. The deals expand Hawthorne's indoor/hydroponic lighting and harvest/storage product portfolios and add approximately $100 million in annual sales and $20 million in operating income from Luxx.

Firstsource Solutions Limited has agreed to acquire American Recovery Services, Inc. (ARSI), a nationwide legal collections network headquartered in Southern California. The acquisition adds legal-stage collections capabilities to Firstsource’s U.S. receivables management offering, strengthening its end-to-end debt recovery services for banks, financial institutions and fintech clients.

ButcherJoseph & Co. served as exclusive financial advisor to InVision Communications on the sale of the company to the InVision Employee Stock Ownership Plan (ESOP). The transaction closed on December 29, 2021, making InVision 100% employee-owned; the agency is headquartered in the San Francisco Bay Area and provides integrated brand, experiential and communications services.

NextGen Acquisition Corp. II closed its business combination with Vieco USA, Inc., the parent of Virgin Orbit, and has changed its name to Virgin Orbit Holdings, Inc. The combined company’s common stock and warrants were expected to begin trading on NASDAQ under the symbols VORB and VORBW, following stockholder approval on December 28, 2021.

Argentum Medical, a Shore Capital‑backed medical device company and maker of Silverlon dressings, has acquired Anacapa Technologies' antimicrobial wound cleansers, gels and irrigation product lines, including the Anasept and Silver‑Sept brands. The deal, completed on December 29, 2021, expands Argentum's wound‑care portfolio and integrates Anacapa's topical antimicrobial solutions into Argentum's existing product lineup for surgical, burn and chronic wound care.

Martin Yale Industries LLC has acquired Postmark, a San Luis Obispo, California-based maker of high-speed inkjet printers and mailroom equipment. The acquisition expands Martin Yale's product portfolio in mailroom, printing and packaging markets and will relocate Postmark's manufacturing operations to Martin Yale's Wabash, Indiana facility to increase capacity and efficiency.

Comar, a specialty medical-device and packaging manufacturer majority-owned by Morgan Stanley Capital Partners, has acquired Omega Packaging, a La Mirada, California-based maker of injection- and blow-molded closures and jars. The deal—backed by Morgan Stanley Capital Partners and financed by Golub Capital Credit Opportunities with participation from Brightwood Capital and Everberg Capital—expands Comar's rigid packaging portfolio, adds child-resistant and continuous-thread closure capacity, and brings precision mold-making capabilities to its platform.

HID Global has acquired InvoTech Systems, a Woodland Hills, California-based provider of RFID-enabled textile, linen and laundry inventory management solutions. The acquisition expands HID's textile and laundry applications portfolio and strengthens its RFID-based inventory management capabilities and presence in North America.

Church & Dwight Co., Inc. has completed its previously announced acquisition of TheraBreath for $580 million in cash. The purchase adds the #2 alcohol-free mouthwash brand in the U.S. to Church & Dwight's oral care portfolio and strengthens its position in the mouthwash category.

Arxada AG, a Basel-based specialty chemicals company owned by Bain Capital and Cinven, completed the acquisition of Enviro Tech Chemical Services, Inc. on 22 December 2021. The deal adds Enviro Tech’s antimicrobial and biocidal platform (notably peracetic acid and bromine chemistries), three U.S. manufacturing sites, and expanded access to food & beverage, agriculture and wastewater treatment end markets; financial terms were not disclosed.

Automation Anywhere has entered into a definitive agreement to acquire FortressIQ, a San Francisco-based process discovery and mining company. The acquisition will integrate FortressIQ’s process intelligence capabilities into Automation Anywhere’s cloud-native Automation 360 platform to accelerate customers’ intelligent automation and digital transformation initiatives.

TriNet Group, Inc. entered a definitive agreement to acquire Zenefits from Francisco Partners, expanding TriNet’s SMB product offering with Zenefits’ cloud HR, payroll and benefits platform. The deal will add an ASO/HRIS capability to TriNet’s suite and integrate Zenefits’ team and customers into TriNet upon closing; terms were not disclosed.

Total Security Solutions, Inc. (TSS) has acquired Bullet Guard Corporation. Angle Advisors served as exclusive investment banking advisor to TSS; the acquisition expands TSS’s geographic footprint into Northern California and adds Bullet Guard’s decades-long expertise in ballistic barrier systems to TSS’s manufacturing and installation platform.

A&A Global Imports, LLC dba marijuanapackaging.com (a Boyne Capital portfolio company) has acquired Aphecal Enterprises, Inc. dba 420packaging.com, a supplier of packaging products and ancillary goods to the medical and recreational cannabis market. The add-on purchase expands A&A's e-commerce product assortment (including IP for the Squeezetops brand) and broadens its reach across cannabis packaging channels.

Mux, the San Francisco-based developer video platform, has acquired Stream Club, a San Francisco startup that provides an API/SDK and drag-and-drop studio for building studio-quality live streams. The acquisition integrates Stream Club’s live production tools into Mux’s product suite to simplify building high-quality live streaming experiences for developers.

Avanti Equine Veterinary Partners acquired California-based Steinbeck Peninsula Equine Clinic on December 22, 2021, adding the clinic's two hospitals and three ambulatory locations to its national equine practice network. The deal expands Avanti's presence in California (with central locations in Salinas and Menlo Park) and supports Steinbeck Peninsula with Avanti's management and operational resources.

MWG Holdings Group, Inc. acquired Oz Distribution to add a wholesale cannabis distribution business serving more than 400 California dispensaries. The acquisition vertically integrates Oz's branded products (Royal Tree, Royal Dab, Royal Bud) into MWG's supply chain to expand product reach for MWG's Perfect Union retail locations across California.

Sanofi has entered into an agreement to acquire Amunix Pharmaceuticals for an upfront payment of approximately $1.0 billion plus up to $225 million in potential development milestones. The acquisition gives Sanofi Amunix’s Pro‑XTEN/XPAT/XPAC masking technology and a pipeline of conditionally activated T‑cell engagers and cytokine therapies (including lead candidate AMX‑818), expanding Sanofi’s immuno‑oncology capabilities.

Yield Engineering Systems (YES), a Fremont-based manufacturer of surface and materials processing equipment, has acquired Semiconductor Process Equipment Corporation (SPEC) of Valencia, California for an undisclosed amount. The deal adds SPEC’s wet-process product line, ~40,000 sq. ft. of manufacturing/cleanroom space and SPEC’s staff to YES, expanding YES’s wet-processing capabilities and capacity to serve semiconductor, advanced packaging, life sciences and other computationally intensive end markets.

Sycamore Partners has acquired Digital Room, a Sherman Oaks-based e-commerce provider of customized marketing products, from an affiliate of H.I.G. Capital. Digital Room operates a portfolio of branded websites (including UPrinting, Signs.com and NextDayFlyers) and a coast-to-coast production network; Sycamore said it plans to support the company's next phase of growth and expand market leadership.

Lexitas, a technology‑enabled legal support services provider and portfolio company of funds advised by Apax, has acquired TaylorMorse, a medical record retrieval firm headquartered in Laguna Hills, California. The acquisition expands Lexitas’ record retrieval capabilities and strengthens its presence in the West Coast civil litigation market.

Insightful Science, a portfolio company of Insight Partners, has acquired Protein Metrics, a provider of protein characterization and proteomics analysis software. The deal adds proteomics capabilities to Insightful Science's R&D software portfolio (including GraphPad Prism, SnapGene, Geneious Prime and Dotmatics) to help biopharma and research customers accelerate protein analysis across research and production.

San Francisco Equity Partners (SFEP) has acquired a majority stake in Rustic Bakery, a Petaluma, California-based specialty foods and cracker manufacturer; terms were not disclosed. Northstar Capital provided junior capital as a co-investor to help finance the transaction; SFEP said it will work with management to expand the brand's product portfolio, distribution and customer base.

An investment fund managed by Trinity Fund Advisors LLC (on behalf of Trinity GP Fund I L.P.) acquired a 50% interest in the 511‑key Omni San Diego Hotel from JMI Realty. Omni Hotels & Resorts retains the remaining 50% and will continue to manage the property. Trinity and Omni plan a multimillion‑dollar capital improvement program to renovate guestrooms, reimagine food & beverage, and reposition the hotel to capture higher-rated transient and group demand in the growing San Diego market.

New State Capital Partners has acquired AVEX, a leading North American dealer and maintenance provider for the Daher TBM turboprop, from founder Terry Winson, who is retiring. AVEX — which operates in California and Colorado and provides aircraft sales, maintenance and aftermarket services — will serve as the anchor investment for New State's new aviation platform; terms were not disclosed.

FinTech Automation, a fintech Infrastructure-as-a-Service platform, has acquired DevBase, a U.S.-based nearshore staff augmentation firm that provides hiring, training and management of software engineers. The deal expands FTA's development capabilities and UX/UI resources to accelerate product development for financial institutions and fintech customers; FinTech Automation is a portfolio company of a merchant bank fund managed by Austin Capital General Partner.

Glass House Brands Inc. executed a definitive agreement to acquire PLUS (Plus Products Inc.), a leading California cannabis edibles brand, for approximately US$25.6 million via a mix of unsecured convertible debt and equity plus performance-based consideration. The deal, to be completed under a plan in the context of PLUS' CCAA proceedings, is expected to close in Q1 2022 and expands Glass House's product portfolio and distribution in the high-growth edibles category.

Yardi acquired and redesigned 42Floors.com, a commercial real‑estate listing and search platform, and integrated it into its CommercialEdge marketplace network. The move brings more than 320,000 nationwide listings into Yardi’s CommercialEdge ecosystem to expand listings, drive leads and enhance its CRE data and marketing capabilities. The site was purchased from Roni Mova of United Group.

Chicago-based private equity firm Entrepreneurial Equity Partners (e2p) has made a control-oriented investment in Organic Milling Inc., a San Dimas, California contract manufacturer of organic cereals, granolas, snacks and ingredients. Financial terms were not disclosed; e2p said the partnership will support customer and geographic expansion and broaden product offerings.

New Residential Investment Corp. completed its acquisition of Genesis Capital LLC, a Sherman Oaks-based business-purpose lender, from affiliates of Goldman Sachs. The deal, financed with New Residential cash and committed asset-based financing from Goldman Sachs, adds loan origination capability to New Residential's single-family rental platform; Genesis originated roughly $2 billion of loans in 2021 and has about 170 employees.

Solotech, a global audiovisual and entertainment technology company, has acquired XR Studios, a Los Angeles–based extended reality and virtual production agency. XR Studios will continue to operate as a separate brand and join Solotech's new Media and Entertainment Technology (MET) Division to expand Solotech's virtual production, XR and live-streaming capabilities. The deal is supported by Solotech's shareholders Claridge, Desjardins Capital and Investissement Québec.

DMC Global has signed a definitive agreement to acquire a 60% controlling interest in Arcadia Inc. for $282.5 million (cash and stock), with an option to acquire the remaining 40% over three years. The acquisition expands DMC's portfolio into architectural building products and will add Arcadia's ~850 employees and ~$246 million in trailing sales to DMC's operations.

CORE Industrial Partners’ portfolio company Arizona Natural Resources (ANR) has acquired HealthSpecialty, a Santa Fe Springs, California-based contract manufacturer of premium skin, body and hair care products. The add-on expands ANR’s manufacturing footprint, R&D/formulation capabilities and product portfolio in the premium skincare and personal care markets.

Digital marketing agency Brainlabs has acquired social advertising agency and creative studio Consumer Acquisition to expand its social creative, managed paid social services, and mobile app marketing capabilities. Consumer Acquisition will operate as Brainlabs' in-house creative studio for app marketing and its CEO Brian Bowman will join Brainlabs as SVP-Global App Marketing.

Tencent Holdings Ltd. has acquired Slamfire, Inc., the parent company of game developer Turtle Rock Studios. Turtle Rock will remain independently operated out of Lake Forest, California, with its existing leadership and team continuing studio operations; the deal expands Tencent's global games portfolio and support for Turtle Rock's future projects.

Sweeping Corporation of America (SCA), the largest power sweeping company in the U.S., has acquired Venco Power Sweeping, a long-established street and parking lot sweeping operator based in Oxnard, California. The acquisition expands SCA's presence and market share in Southern California; terms were not disclosed.

XanEdu, a Frontenac-backed educational products and services company based in Ann Arbor, Michigan, has acquired NextLesson, a San Francisco–based provider of Common Core–aligned K–12 courseware and digital lessons. The acquisition expands XanEdu's digital courseware capabilities and integrates NextLesson's LMS-enabled content and grading automation into XanEdu's customized content and delivery offerings for K-12 and higher education.

Autodesk announced it is acquiring ProEst, a cloud-based construction estimating solution, and will integrate ProEst into Autodesk Construction Cloud to strengthen its preconstruction and cost estimation capabilities. The deal is expected to close in Autodesk’s fourth quarter of fiscal 2022 and is intended to expand Autodesk Construction Cloud’s preconstruction offerings and improve end-to-end cost visibility for construction teams.

Ambina Partners made a growth equity investment in Beacon Healthcare Systems, a California-based provider of SaaS technology for health plans that manages claims, appeals, grievances, compliance, enrollment, and analytics. The funding will support Beacon's sales & marketing expansion and product development to accelerate growth.

Boyd Corporation has acquired MBK Tape Solutions to deepen its medical-grade skin-contact materials expertise for applications including biosensors, transdermal patches and medical wearables. The deal expands Boyd's ISO 13485‑certified manufacturing and material science capabilities to accelerate customer time‑to‑market in regulated medical end markets.

CACI International has completed the acquisition of SA Photonics, a developer of free-space optical (FSO) communications and LiDAR sensing technologies. The deal expands CACI's photonics engineering and scaled manufacturing capabilities — adding facilities in California and Florida — to serve U.S. government, intelligence, and commercial space (LEO) customers.

AmpliTech Group, Inc. (NASDAQ: AMPG) has executed a definitive agreement to acquire the assets and operations of Spectrum Semiconductor Materials, Inc., a San Jose–based authorized distributor of semiconductor components. The deal (approximately $8.0M cash plus $1.5M escrow and restricted shares) nearly triples AmpliTech's revenue base, adds a global distribution platform and a record combined order backlog of $11.4M, and is intended to accelerate commercialization of AmpliTech's MMIC chip solutions.

On December 16, 2021, Interlang, Inc. d/b/a Montgomery DME (a portfolio company of Monument MicroCap Partners) recapitalized Premier Medical Equipment & Supply. Premier, based in Colton, California, provides durable medical and home medical equipment rentals to hospice and home health providers in San Bernardino County and other parts of Southern California; the transaction expands MDME's geographic footprint and resources.

Tide Rock Holdings, a San Diego-based strategic holding company, has acquired American Recycling Company, LLC of Modesto, California (renamed American Recycling Holdings, LLC). The full-service recycler — which handles paper, plastic, metal and organic waste and provides ESG-compliant analytics — will remain managed by its founders and will expand services and organics processing under Tide Rock's ownership.

MiQ Partners, a Resilience Capital Partners-backed intelligent automation platform, has acquired CKC Engineering, a precision automation machine builder based in Oakland, California. The add-on expands MiQ's California capacity (bringing total footprint to 155,000 sf), strengthens life sciences manufacturing capabilities (aseptic syringe filling, vertical farming solutions, medicinal product packaging) and adds roughly 13 engineers to the platform.

Main Street Capital Corporation provided a $16.4 million first‑lien, senior secured term debt follow‑on investment in portfolio company Hawk Ridge Systems to finance Hawk Ridge’s acquisition of DesignPoint and support internal growth initiatives. Hawk Ridge, a leading value‑added reseller of SOLIDWORKS and 3D printing solutions headquartered in Mountain View, California, will use the financing to expand geographic reach and bolster technical and sales resources.