Acquisitions in Connecticut in 2022

Resource Innovations, a women-led clean energy transformation firm and portfolio company of BV Investment Partners, has acquired Connecticut-based e-commerce and customer engagement company TechniArt. The add-on expands RI's digital and e-commerce capabilities to help utilities drive adoption of energy-efficient and electrification measures through improved customer engagement and program delivery.

Authority Brands, a Columbia, Maryland-based franchisor of home service brands, has acquired eco-friendly junk removal franchisor The Junkluggers. The Junkluggers, founded in 2004 and operating across roughly 350 territories with more than 90 locations in the United States, will join Authority Brands' portfolio to accelerate franchise and service expansion; terms were not disclosed.

Recochem has completed the acquisition of Torque Detail, a digitally native brand of automotive detailing products. Torque will continue to operate under its brand as part of Recochem's Car Care division and will leverage Recochem's product development, manufacturing, digital marketing, and distribution capabilities to support Recochem's expansion into the U.S. branded car care market.

McGraw Hill has acquired Ryan Medical Education LLC, d/b/a Boards & Beyond, a provider of on-demand video libraries and assessment content for medical students and professionals. The deal expands McGraw Hill's digital capabilities and bolsters its presence in medical education, complementing its existing professional and institutional learning resources.

Rockbridge-backed CheckedUp has acquired Health Media Network (HMN), a Norwalk, Connecticut-based provider of digital point-of-care patient education and wellness content. Comvest Credit Partners acted as administrative agent on a senior secured credit facility to support CheckedUp's acquisition of HMN and the combined platform's future growth.

Investcorp has agreed to acquire Marble Point Credit Management LLC, a US-based CLO manager, to expand and scale its global credit platform. The deal will combine Marble Point's roughly $7.8 billion AUM with Investcorp Credit Management to create a larger credit platform (about $22 billion AUM) and strengthen Investcorp's CLO and broadly syndicated loan capabilities.

US Service Group, a New York–based industrial services company, has acquired all assets and operations of Dalton Rigging and Transport of West Hartford, Connecticut. The acquisition strengthens USSG’s rigging, machinery moving and transportation footprint in New England and brings Dalton’s president Kevin Dalton and his team into USSG.

Funds managed by Clayton, Dubilier & Rice (CD&R) and Greenbriar Equity Group completed acquisitions of Paradigm Precision and Whitcraft Group and combined the businesses to form Pursuit Aerospace, a scaled manufacturer of complex aircraft engine components. The transaction aims to create a diversified, lean-focused supplier for commercial and military OEM engine platforms with leadership led by CEO Doug Folsom and Ray Conner as chairman.

Millstone Medical Outsourcing, an Arlington Capital Partners portfolio company, has completed the acquisition of MycoScience, a Willington, Connecticut-based provider of medical device and pharmaceutical laboratory and environmental testing services. The acquisition adds advanced laboratory and regulatory testing capabilities to Millstone's post-manufacturing and aftermarket services, enabling more in-house testing, faster time to market, and expanded end-to-end offerings.

Munch’s Supply, the HVAC distribution division of Marcone, has acquired BellSimons, a New England HVAC distributor with 29 branches and three distribution centers across seven states. The add-on expands Munch’s/Marcone’s footprint in the Northeast (bringing the platform to 103 locations across 18 states plus Ontario) and reinforces its position in HVAC and plumbing parts distribution; the deal was supported by advisors including TM Capital and BMO Capital Markets.

PCX Aerostructures (dba PCX Aerosystems), a Greenbriar Equity Group–owned aerospace manufacturer, has completed the acquisition of Manchester, Connecticut–based Timken Aerospace Drive Systems (ADS). ADS will be rebranded as PCX Aerosystems – Manchester LLC, expanding PCX's gearbox, transmission and MRO capabilities in mission-critical aerospace components.

Simplicity Group has acquired Connecticut-based Daly Brokerage, a full-service wholesaling firm founded in 1997 that specializes in life, annuity and long-term care products. Daly Brokerage becomes the 45th organization to join Simplicity's partnership and founders Kelly Daly and Lori Caiaze have joined Simplicity as partners. The deal expands Simplicity's distribution and wholesaling capabilities for life, annuity and long-term care products.

Pfingsten’s portfolio company NEC acquired Eastern Communications, LLC, a Bloomfield, Connecticut-based provider of maintenance, repair and upgrade services for telecommunications infrastructure. The deal—NEC’s third add-on since Pfingsten became majority shareholder in October 2021—closed October 31, 2022; Eastern CEO Steve Slade will retain ownership and join NEC’s executive team as the combined platform expands geographic coverage and service capabilities.

Shibumi, a provider of strategic portfolio management SaaS, received a $30 million growth investment from Guidepost Growth Equity to accelerate global expansion, product development, and go-to-market initiatives. The capital will support Shibumi's efforts to expand its enterprise customer base and enhance its platform capabilities.

CentralBDC, an SJ Partners portfolio company based in Boca Raton, Florida, has acquired PowerBDC, a Stamford, Connecticut-based outsourced business development center serving automotive, RV, powersports and marine dealerships. The add-on expands CentralBDC's suite of inbound/outbound lead generation, lead management and CRM services as part of a strategy to grow its market share and capabilities in dealership marketing and customer engagement.

BrightPet Nutrition Group, a portfolio company of A&M Capital Partners, has acquired Bravo! Pet Foods, a pioneer in frozen raw and freeze-dried pet diets. The add-on acquisition expands BrightPet's branded portfolio and manufacturing capabilities in the premium frozen and freeze-dried pet food category.

CheckedUp, a Rockbridge Growth Equity-backed point-of-care digital patient education company, has acquired Health Media Network (HMN) to create one of the nation's largest specialty-focused digital point-of-care advertising networks. The deal — financed with senior debt from Comvest — expands CheckedUp's network breadth across medical specialties and enhances its content and in-office digital offerings; financial terms were not disclosed.

Foxhole Group, via its CCK Automations platform, acquired two Connecticut-based PCB assembly businesses — OSDA (Milford, CT) and Argo EMS (Clinton, CT) — to add quick-turn prototype and low-volume/high-mix (LVHM) capabilities. The deals expand CCK's East Coast footprint, broaden end-market exposure (medical, aerospace & defense, robotics, semiconductor) and bring ITAR, AS9100 and UL certifications to the combined platform.

Sitero acquired Axiom, the provider of the Axiom Mentor SaaS compliance platform, to add a technology dimension to its clinical services offering and rebrand the product as Sitero Mentor. The deal will let Sitero integrate intelligent automation into IRB, IBC, IACUC and higher-education compliance workflows and expand its customer base in research and clinical compliance.

PosiGen, a residential solar and energy-efficiency provider, has acquired New England Conservation Services (NECS), Connecticut's longest-running residential energy-efficiency provider. The acquisition brings NECS's 18-member team and program qualifications in-house, enabling PosiGen to deliver faster energy-efficiency upgrades across Connecticut and expand its combined solar-plus-efficiency offering for low-to-moderate income households.

Pasithea Therapeutics Corp. (Nasdaq: KTTA) acquired AlloMek Therapeutics, LLC, obtaining the preclinical MEK 1/2 inhibitor CIP-137401 to expand its CNS-focused drug-development pipeline. The deal closed on October 11, 2022 and included $1.05 million in upfront cash, issuance of restricted stock and warrants, plus potential clinical/regulatory milestones and royalties.

Action Title Research, a technology-driven title research and workflow provider backed by Strattam Capital, has acquired Legal Title Services, LLC to expand its New England footprint and modernize title production. Legal Title Services will be integrated into Action Title Research's SmartSearch workflow (AES platform) to scale operations and enhance client experience.

Deltech Holdings, a portfolio company of SK Capital Partners, has acquired StanChem, Inc., a maker of emulsion polymers and protective coatings. The acquisition makes StanChem a division of the Deltech platform and is intended to expand Deltech's capabilities across the CASE (coatings, adhesives, sealants, elastomers) value chain; terms were not disclosed. StanChem was previously a portfolio company of Artemis Capital Partners.

Fairchild Auto‑Mated Parts, a Winsted, Connecticut precision machining company, was sold by owner Jake Thompson to Fairchild Industries, Inc. (with Leland Licciardi as the new owner) in a transaction that closed October 3, 2022. The buyer plans to invest in facilities and machining capabilities to expand production capacity and preserve the business locally as the seller retires.

Pfizer Inc. completed the acquisition of Biohaven Pharmaceutical Holding Company Ltd. for approximately $11.6 billion (at $148.50 per share), bringing the migraine therapy NURTEC ODT (rimegepant), the zavegepant NDA program, and a CGRP-focused pipeline into Pfizer's Internal Medicine portfolio. Prior to closing, Biohaven spun off its non-CGRP assets into a separate publicly traded company, Biohaven Ltd., which Pfizer received a small pro rata stake in.

Accudynamics, a Makers Forward, LLC portfolio company, has acquired DCG Precision Manufacturing, LLC and will operate DCG as a subsidiary. The acquisition expands Accudynamics' precision machining capabilities—particularly Swiss machining and grinding—and adds capacity to serve aerospace, defense, medical, and other industrial customers while retaining DCG's existing employees and management.

Rocket Pharmaceuticals (NASDAQ: RCKT) will acquire Renovacor (NYSE: RCOR) in an all-stock transaction valued at approximately $53 million (implied $2.60 per Renovacor share). The acquisition strengthens Rocket's leadership in AAV-based cardiac gene therapy by adding Renovacor's REN-001 BAG3-targeted program and related capabilities to Rocket's clinical pipeline.

Practis, a Charlotte-based provider of digital marketing solutions for healthcare providers, acquired MedPB, a specialized digital marketing firm serving audiology and ENT practices. The deal expands Practis’ specialty footprint into audiology and ENT and strengthens its suite of patient-lead generation and digital marketing services for specialty medical practices.

JM Family Enterprises, Inc. has acquired Rollease Acmeda, a Stamford-based designer and distributor of window covering hardware and automated shade systems, from ShoreView Partners. The deal adds Rollease Acmeda (approximately 270 associates) to JM Family's JM Specialty Distribution platform as the company looks to expand its specialty distribution capabilities and global footprint.

SLIPNOT, a Detroit-based provider of safety flooring and surface technologies, has acquired Connecticut-based Amstep Products, a maker of epoxy-coated stair treads and nosings. The acquisition — completed with strategic support from Victor Capital Partners — expands SLIPNOT’s stair safety product portfolio and broadens its end-market coverage across healthcare, commercial/retail, municipal and marine sectors.

Energywell, an energy technology company backed by funds managed by Oaktree Capital Management and Hartree Partners, has signed a purchase and sale agreement to acquire Engie Retail, LLC d/b/a Think Energy. The acquisition (subject to FERC approval) expands Energywell's retail footprint across 13 states and Washington, D.C., and will enable rapid deployment of Energywell's Proton platform across the Think Energy customer base.

FatBrain AI (LZG International, Inc.; OTC: LZGI) has acquired Intellagents, an insuretech SaaS platform that provides an insurance-specific integration and API-management marketplace. The deal brings Intellagents' connectors and Peer Intelligence capabilities into FatBrain's AI offerings to accelerate product capabilities and adoption across insurers, brokers and businesses.

Relation Insurance Services, a PE-backed national insurance brokerage, has acquired the assets of Connecticut-based Mobeck-Guandalini Insurance, Inc. The acquired agency will continue to be led by Christopher Guandalini as it is integrated into Relation's platform to expand the firm's presence and services in Connecticut; terms were not disclosed.

Pye-Barker Fire & Safety has acquired Integrated Security Group (ISG), a Middletown, Connecticut-based provider of security and life-safety systems. The acquisition expands Pye-Barker's alarms division and Northeast footprint, with ISG's leadership and technicians remaining in place.

Pexco LLC, a North American specialty plastics extruder backed by Odyssey Investment Partners, has acquired Enflo LLC, a manufacturer of PTFE (polytetrafluoroethylene) products based in Bristol, Connecticut (with a second facility in Grand Falls, New Brunswick). The acquisition expands Pexco's high-performance polymer capabilities and broadens Enflo's geographic and industry reach across end markets such as semiconductors, aerospace & defense, and industrial infrastructure.

ARC Health, a portfolio company of Thurston Group, has acquired Sasco River Center, a multidisciplinary mental health practice with three locations in Fairfield County, Connecticut. The acquisition brings roughly 60 providers into the ARC Health network and will provide the practice with back-office support and scale to expand services.

DNSFilter has acquired Guardian, the developer of the Guardian Firewall + VPN mobile privacy platform, to add full firewall and VPN capabilities to its AI-powered DNS security offering. The deal expands DNSFilter’s product into a more complete Secure Web Gateway (SWG), enabling URL, file type, IP and port filtering alongside DNS protection.

Bertram Capital has made an investment in Hartford, Connecticut-based NEFCO Holding Company LLC, a family-owned value-added distributor of specialty construction (SHARP) products. The capital will support NEFCO's growth and buy-and-build strategy — leveraging Bertram's operating resources (including Bertram Labs) to accelerate organic growth and acquisitions across the East Coast and Midwest.

CONMED Corporation has completed the acquisition of Biorez, Inc., a New Haven, Connecticut-based medical device start-up that developed the BioBrace bioinductive scaffold for soft-tissue reinforcement and healing. The acquisition, financed through CONMED's existing credit facility, adds the BioBrace implant technology to CONMED's surgical product portfolio to expand its capabilities in soft-tissue repair.

DocuPhase, a Tampa Bay-based provider of business process automation backed by LoneTree, has acquired Frevvo, a workflow automation and online forms company founded in 2008. The acquisition adds Frevvo's digital forms and signature capabilities to DocuPhase's platform to accelerate education market growth and enable payment collection via integrated forms.

Jack Henry & Associates has entered into a definitive agreement to acquire Payrailz, a Glastonbury, Connecticut–based cloud-native, AI-enabled digital payments platform, to expand its payments capabilities. The acquisition strengthens Jack Henry's payments-as-a-service strategy by adding real-time P2P, bill pay, A2A, and other next-generation payment capabilities; financial terms were not disclosed.

Akoya Capital has partnered with Thayer Bancroft, PNC Mezzanine Capital, and Mertor to acquire Alinabal, a Milford, Connecticut-based contract manufacturer of precision machined, stamped and molded metal components. The deal provides a succession solution for Alinabal’s longtime owners while establishing Alinabal as an Akoya platform to accelerate growth and pursue add-on acquisitions.

Alera Group Wealth Services, a division of Alera Group, has acquired Johnson Brunetti, a Connecticut-based retirement and investment specialist that manages approximately $1.5 billion in RIA client assets and oversees another $1.5 billion of annuity and insurance assets. The acquisition adds geographic presence in the Northeast and Atlanta and is intended to leverage Alera's back-office, technology and centralized investment services; terms were not disclosed.

Hubbell Incorporated has acquired Ripley Tools, a U.S. manufacturer of professional hand tools and test & measurement equipment for fiber optic, coaxial, telecom and electrical utility markets, from Cleveland-based private equity firm CW Industrial Partners. The sale, announced July 2022, expands Hubbell's product offerings for utility and communications end markets; terms were not disclosed.

Groupe Le Duff, through its Bridor subsidiary, has acquired Lecoq Cuisine Corporation, a U.S. producer of premium frozen Viennese and French-style pastries. The deal adds Lecoq's Bridgeport, Connecticut production capacity (about 250 employees and $60M revenue in 2022) to Bridor's global frozen bakery platform to support North American growth.

Quote.com, a portfolio company of Osceola Capital, has acquired Ring2Media, a direct-response marketing agency specializing in Medicare enrollment. The acquisition will be consolidated under the Quote.com brand to expand the platform’s TV/OTT capabilities and accelerate penetration of the Medicare segment.

Arcline Investment Management has acquired Omega Engineering Inc. from Spectris plc for $525 million, and Omega has joined the Dwyer Group, an Arcline portfolio company. The deal adds Omega’s sensing, measurement and IIoT product portfolio to Dwyer’s instrumentation businesses to expand capabilities across industrial, building-automation and environmental markets.

Allegion plc has completed the acquisition of STANLEY Access Technologies and related automatic entrance assets from Stanley Black & Decker for $900 million in cash. The purchase adds a leading North American manufacturer, installer and service provider of automatic doors—with ~ $340 million in 2021 net sales—strengthening Allegion's seamless access product portfolio and installation/maintenance capabilities in the Americas.

Thrive, a portfolio company of Court Square Capital Management, has acquired Connecticut-based Edge Technology Group, a managed IT services and technology advisory firm serving alternative investment managers. The deal expands Thrive's international footprint with new offices and data centers across the United Kingdom, Australia, Singapore, Hong Kong, and the Philippines and strengthens its cybersecurity, cloud, and automation capabilities for financial services clients.

Relation Insurance Services, a PE-backed national insurance brokerage, acquired the assets of Connecticut-based Dunn Insurance, Inc., expanding Relation’s presence in Connecticut and the eastern U.S. Terms were not disclosed; Dunn will continue to be led by Ronald Dunn as part of Relation. The deal is an add-on to Relation’s platform backed by Aquiline Capital Partners.