Acquisitions in Colorado in 2019

Broadtree Partners has acquired CanSource, a Longmont, Colorado-based supplier of shrink-sleeved cans for craft beverage producers. Broadtree said it will support CanSource's growth and geographic expansion while CanSource founders Pat Hartman and Ron Popma move to advisory roles on the board.

Advice Media, a digital marketing and software provider for medical and dental practices, has acquired Page 1 Solutions, a Lakewood, Colorado-based digital marketing firm serving attorneys and healthcare providers. Tree Line Capital Partners provided financing for the transaction through an increase to Advice Media's term loan and an incremental equity co-investment; financial terms were not disclosed.

Funds advised by Apax Partners have completed the acquisition of Coalfire, a cybersecurity advisory and assessment services firm, from The Carlyle Group and The Chertoff Group. The investment will support Coalfire's growth through technology investment, expanded services (including cloud security, penetration testing and CMMC readiness) and strategic acquisitions.

Kadiant has acquired the Behavior Therapy business of Personal Assistance Services of Colorado (PASCO); PASCO will continue to operate its other home health and long-term support services under the PASCO brand. Terms were not disclosed. The deal expands Kadiant's ABA therapy footprint and brings PASCO's team of BCBAs into Kadiant's network.

United Site Services, a portfolio company of Platinum Equity, has acquired S&B Porta-Bowl Restrooms, a family-owned portable sanitation provider based in Colorado. The transaction is an add-on acquisition that expands United Site's presence and service capacity in the Rocky Mountain region; S&B operated ~5,400 restrooms with about 70 employees.

TZP Group has acquired Christy Sports, a leading specialty snow-sports and outdoor retail and services operator, from Norwest Equity Partners. The transaction closed in late 2019 (announced Dec 2019); financial terms were not disclosed. Christy Sports operates more than 60 stores across the Western United States and offers retail, e-commerce and ski/snowboard rental and service capabilities.

Kin + Carta has acquired Spire Digital, a Denver-based software development and digital transformation firm, to strengthen its Innovation capabilities and establish a strategic foothold in the western United States. Spire’s team of over 100 engineers and designers will remain based in Denver and continue serving Fortune 500 and mid-market clients as part of Kin + Carta’s global offering.

WolfePak Software, a Charlesbank Capital Partners portfolio company, has acquired DocVue, a provider of imaging, document management and workflow software for the oil and gas industry. DocVue will operate as a standalone product division within WolfePak to expand WolfePak's document management and digital oilfield offerings; financial terms were not disclosed.

Pike Street Capital announced a growth investment in QuickBox, a Denver-based third-party logistics and fulfillment provider serving CPG, health & wellness, and e-commerce brands. The investment will provide capital and operational support to expand QuickBox's tech-enabled fulfillment platform and support continued growth.

El Cap, the parent company of Planet Granite and Earth Treks (backed by Tengram Capital Partners), has acquired Movement Climbing + Fitness, adding Movement's three Colorado facilities to its network. The transaction expands El Cap's footprint in Colorado, creates the largest climbing-gym footprint in the state, and gives members unified access across locations.

White Wolf Capital has recapitalized Temporary Housing Directory (THD), partnering with founder Teresa Vidger to support THD's growth and technology investments. The transaction provides THD with additional capital and resources to accelerate organic growth and M&A initiatives while maintaining the company's high-touch service model for insurance and corporate relocation clients.

WILsquare Capital formed Crown Products, Inc. and completed the acquisition of Cartwright Distributing, LLC, a Denver-based flooring distributor. The new Crown Products platform combines Cartwright with WILsquare portfolio company Walcro to expand product offering and geographic reach across the Upper Midwest and Rocky Mountain regions; terms were not disclosed.

Navint Partners, backed by Boathouse Capital, has acquired Statera, a Salesforce-focused implementation firm specializing in CPQ and Billing. The acquisition brings deep Salesforce CPQ & Billing technical capability to Navint’s advisory and lead-to-revenue services to help clients modernize their lead-to-revenue operations.

Periscope Equity has acquired Mobile Solutions Services, LLC, a Centennial, Colorado-based software provider of full life-cycle Managed Mobility Services, from Clovis Point Capital. The transaction represents Clovis Point's exit following a growth equity partnership that helped scale Mobile Solutions' next-generation mobile expense management platform and go-to-market capabilities.

Daxko, a provider of technology and payment solutions for member-based health and wellness centers, acquired TennisSource, a Colorado-based provider of tennis facility management software. The acquisition expands Daxko's Club Automation capabilities and strengthens its offering for tennis clubs and sports facilities.

Cority has acquired Axion Health, a provider of ReadySet employee-health SaaS used by over 100 hospital systems. The acquisition expands Cority’s EHSQ software capabilities in employee and occupational health, strengthening its position in the healthcare vertical following Cority’s growth investment from Thoma Bravo.

An affiliate of H.I.G. Capital has completed a growth investment in Circle Graphics Holdings, Inc., a Denver-area producer of made-to-order wall décor and large-format digital graphics for billboard operators and business signage. H.I.G. said the investment will support scaling the company’s product offering and expand its sales, marketing and distribution capabilities as Circle Graphics pursues organic and inorganic growth; the company employs roughly 600 people across the United States.

HarbourVest Partners has made a $52 million equity investment to acquire a minority stake in Mesa Natural Gas Solutions, a portfolio company of BP Natural Gas Opportunity Partners, LP. The investment — announced by BP Energy Partners, LLC — will support Mesa’s manufacturing, leasing and operations of natural-gas and liquid-propane generator sets for energy, commercial and industrial applications.

Denver Glass Interiors, a portfolio company of Baymark Partners, acquired Bel Shower Door Corporation. The acquisition adds Bel's custom shower and mirror fabrication and installation capabilities to DGI's regional glazing platform and is positioned as an add-on to Baymark's portfolio.

Oak Hill Capital has acquired an equity stake in Mercer Advisors as part of a recapitalization in which current private equity owners Genstar Capital and Lovell Minnick Partners sold part of their holdings. Genstar will remain as an investor and partner; the transaction provides Mercer Advisors with additional capital to support service expansion, organic growth and strategic acquisitions.

Quad-C Management has closed an investment in Boulder Scientific Company, a family-owned specialty chemicals manufacturer headquartered in Mead, Colorado. CEO Scott Birmingham will retain a significant stake and management will remain in place; Quad-C's capital will support growth initiatives including R&D, product development, and commercial scale production in specialty chemicals.

Next Gear Solutions, a Serent Capital portfolio company, has acquired Accurence, a provider of automated adjusting and guideline-management software for the restoration and property-claims market. The deal expands Next Gear's product suite—integrating Accurence's SettleAssist, QualityAssist, ScopeAssist and National Water Prime offerings—to streamline workflow for contractors and insurance carriers across claims processes.

MISTRAS Group acquired New Century Software, a Fort Collins-based provider of pipeline integrity management software and services, to expand its pipeline asset integrity and data management capabilities. The acquisition integrates New Century's pipeline software with MISTRAS' Plant Condition Management Software and recent Onstream pipeline inspection capabilities to offer enhanced data-driven pipeline protection solutions to midstream energy customers.

Chicago-based HC Private Investments has entered a strategic partnership and taken a majority stake in Epicurean Butter Company, a Colorado-based maker of flavored finishing butters. Founders Janey and John Hubschman remain in senior leadership roles and retain a significant minority stake; HCPI will provide capital to support sales growth and investments in manufacturing capabilities. Terms were not disclosed.

Osceola Capital partnered with Top Gun Pressure Washing’s founders and management in a recapitalization to support the company’s next stage of growth. Headquartered in Loveland, Colorado, Top Gun provides pressure washing and exterior facilities services to commercial customers and local governments across the Rocky Mountain region; Osceola intends to help expand the company’s geographic footprint and pursue add-on acquisitions.

O2 Investment Partners, through its vehicle EMEX Holdings, LLC, made a strategic investment in and partnered with BLUEFIN, LLC to add BLUEFIN's software-enabled facility asset management capabilities to the EMEX platform. The transaction brings BLUEFIN's roofing, building envelope, pavement and energy consulting services into EMEX's service offering to expand capabilities and drive cross-selling across commercial, government and institutional facility customers.

An affiliate of CenterGate Capital has made a growth investment in Ouray Sportswear, and Ouray announced a strategic partnership with TSC Apparel to combine TSC’s national distribution network with Ouray’s premium branded apparel and headwear. The partnership and capital injection are intended to expand Ouray’s market presence across resort, collegiate, golf and specialty retail channels in the United States.

BR Brands, a cannabis CPG platform, completed the acquisition of the remaining capitalization and control of Mary's Brands (maker of Mary's Medicinals) concurrent with the first close of BR Brands' Series A, which was backed by strategic capital partner Rose Capital. The deal expands BR Brands' portfolio and manufacturing capabilities as part of a buy-and-build strategy to scale premium cannabis CPG brands across multiple U.S. markets.

Anser Advisory has acquired Inline Management, a Colorado-based construction management and owner's representative firm that specializes in K-12 school construction and capital improvement projects along the Colorado Front Range. The transaction expands Anser’s education market expertise and establishes a Denver-area office; Anser operates as a portfolio company of RTC Partners.

Advanced Energy Industries sold its grid-tie central solar inverter services business to Bold Renewables Holdings, an affiliate of Right Lane Industries. SDR Ventures advised Advanced Energy on the divestiture as Bold Renewables expands its field-service, maintenance and parts platform for central inverters headquartered in Colorado.

Science Interactive Group (SIG), a portfolio company of Millpond Equity Partners and Wasena Capital Management, has acquired eScience Labs, a provider of hands-on science lab kits, virtual learning tools, and customized digital curriculum for higher education and K-12. The acquisition expands SIG's Hands-on Labs capabilities and scale, enabling the combined company to offer a more complete set of STEM lab solutions to colleges, universities and online/blended learning programs.

Tech Air, a distributor of industrial, medical and specialty gases owned by Air Liquide, has acquired High Plains Gas & Supply, a distributor based in Englewood, Colorado. CriticalPoint acted as buy-side advisor to Tech Air in sourcing the transaction.

SiteWise LLC, a wholly-owned subsidiary of Peak Utility Services Group (a platform backed by ORIX Capital Partners), acquired Utility Sales & Service Inc. (USSI), a Longmont, Colorado-based provider of electric and water metering services. The add-on expands SiteWise's service offerings and strengthens Peak's utility services platform by adding USSI's metering capabilities and customer relationships with investor-owned and cooperative utilities.

Cracker Barrel Old Country Store has acquired Punch Bowl Social, an experiential "eatertainment" restaurant chain, after purchasing L Catterton's stake; terms were not disclosed. L Catterton supported Punch Bowl Social's expansion—more than doubling units to 17—and Cracker Barrel will integrate the concept as part of its portfolio to extend its reach into younger, experience-focused dining customers.

Silver Lake will acquire a significant ownership stake in EverCommerce and will partner with existing majority shareholder Providence Strategic Growth (PSG). The investment will support EverCommerce's continued acquisitions of technology solutions and expansion of its shared services and center of excellence capabilities to accelerate growth.

Young Living Essential Oils has acquired Nature's Ultra, a Colorado-based hemp farming and CBD product company with more than 1,500 acres of organic hemp. Nature's Ultra will continue to operate independently while supplying CBD isolate-infused products that will be combined with Young Living's Seed to Seal-certified essential oils and sold to Young Living customers.

Area Wide Protective (AWP), a portfolio company of The Riverside Company, has acquired Northern Colorado Traffic Control, Inc. (NCTC) as an add-on to AWP's traffic management platform. The acquisition expands AWP's footprint into the Colorado market while keeping NCTC founder Trish Sandau actively involved.

Caltius Structured Capital provided a subordinated debt and equity structured capital investment to Denver-based Spinnaker Support to fund continued growth, portfolio expansion and geographic reach. Spinnaker Support is a provider of third-party support and managed services for Oracle and SAP enterprise software, and the financing will support organic growth and strategic acquisitions.

Tendril and Simple Energy merged their operations to form Uplight, combining multiple utility-focused software assets (including recent acquisitions EEme, EnergySavvy and FirstFuel) into an end-to-end customer energy platform. Rubicon Technology Partners remains the majority shareholder and The AES Corporation continues as a key investor to support the company's growth serving electric and gas utilities.

MULTIPLY, a data-driven social and public relations agency, has acquired UMBRLA, a full-service social content firm known for strong Instagram capabilities. Clare Advisors served as exclusive financial advisor; UMBRLA’s operations will move into MULTIPLY’s Denver office as MULTIPLY expands its New York and Denver teams.

Leeds Equity Partners has made an equity investment in Scaled Agile, Inc., the developer of the SAFe framework, partnering with founder Dean Leffingwell, the management team, and existing investor Rubicon Technology Partners. The investment will support expansion of Scaled Agile's core solutions, broader enterprise implementation services, and a deeper membership and certification offering; financial terms were not disclosed.

Concierge Building Services, an independent sponsor, has acquired Kleen-Tech, a commercial janitorial and custodial services provider. The deal positions Kleen-Tech as a platform for growth under Concierge’s plan to professionalize and modernize operations while enabling liquidity for Kleen-Tech’s shareholders.

Ex Libris, a ProQuest company, acquired RapidILL on June 20, 2019. The acquisition brings RapidILL's resource-sharing and document-delivery capabilities—used by more than 300 academic institutions—into Ex Libris' cloud-based library services portfolio to expand and integrate resource-sharing functionality across its Alma platform.

CutisPharma, majority-backed by NovaQuest Private Equity (now QHP Capital), has acquired Silvergate Pharmaceuticals and the combined company will be rebranded as Azurity Pharmaceuticals. The transaction consolidates complementary specialty pharmaceutical portfolios and capabilities—combining CutisPharma’s recently launched products with Silvergate’s SG-05 pipeline submission—and is supported by debt financing arranged by Goldman Sachs Specialty Lending Group.

XPV Water Partners has made a growth equity investment in Metron‑Farnier, a provider of high-performance residential and commercial water meters combined with the Waterscope analytics portal and cellular AMI connectivity. The investment will support Metron‑Farnier’s scaling efforts to expand deployments across utilities, multifamily and commercial customers and accelerate product and market growth.

Bestop, a Kinderhook Industries portfolio company, has acquired Softopper, a designer and manufacturer of convertible soft tops for light-duty pickup trucks and SUVs. The deal—Bestop's sixth add-on under Kinderhook—expands Bestop's product portfolio in the light-duty pickup truck aftermarket; financial terms were not disclosed.

Broadtree Partners, a Charlotte-based private equity firm, completed a strategic/growth investment in RedCAT Systems, a Boulder-based human resources SaaS provider, on May 31, 2019. The capital is intended to help RedCAT scale its team and sales organization and to support development and rollout of new value-added modules for its HR platform.

Aware Ads, a Toronto-based online marketing company, has acquired the assets of AppThis, a Denver-based mobile technology company focused on app discovery, user acquisition and mobile monetization. The asset purchase gives Aware Ads AppThis's programmatic optimization technology, real-time bidding platform, self-serve advertiser UI and machine learning engine to expand its mobile ad capabilities and global reach.

Pike Street Capital has made a major investment in Head Rush Technologies, a Boulder-based maker of climbing and adventure recreation equipment best known for its TRUBLUE auto belay. The investment will support Head Rush's product roadmap, expand sales channels, and accelerate the company’s global footprint.

FirstService Corporation (TSX/NASDAQ: FSV) entered into a definitive agreement to acquire 95% of Global Restoration Holdings, LLC, the second-largest commercial and large-loss property restoration firm in North America. The deal expands FirstService’s scale and capabilities in mitigation, restoration and reconstruction services, and Global Restoration’s management will retain the remaining equity; the seller is Delos Capital.