Acquisitions in Delaware in 2024

Spectral Capital Corporation (OTCQB: FCCN) has closed the acquisition of crwdunit, inc., merging crwdunit into its wholly owned subsidiary Spectral QDA Holdings, Inc. The transaction was completed via issuance of 3,750,000 shares of Spectral stock to crwdunit stakeholders and is intended to bring crwdunit's decentralized cloud / quantum-forward technology and community into Spectral's QaaS platform.

Lomond Therapeutics completed a reverse merger with Venetian-1 Acquisition Corp., which changed its name to Lomond Therapeutics Holdings, Inc., and closed a $44 million private placement led by existing and new investors. The financing included participation from OrbiMed, Torrey Pines Investment, Deerfield Management, American Financial Group and Heights Capital and will fund advancement of Lomond’s clinical-stage oncology programs (lomonitinib, lonitoclax and a menin inhibitor).

Panopto has acquired Elai, an AI text-to-video platform, to add generative video-creation capabilities — including avatar-based learning and voice cloning — to its video learning creation and management platform. Elai, founded in 2021 and based in Lewes, Delaware, serves over 2,000 customers across industries and will expand Panopto's ability to help organizations create personalized, interactive training content more quickly.

DiliTrust, the Paris-based AI-powered legal-tech SaaS provider, has acquired U.S.-based Enterprise Legal Management (ELM) vendor doeLEGAL to accelerate its U.S. market entry and expand its product offering in matter management, e-billing and e-discovery. All doeLEGAL employees will join DiliTrust; financial terms were not disclosed.

Dover-based general contractor George & Lynch Inc. has acquired Millsboro plumbing, mechanical and utility contractor Harry Caswell Inc. The deal preserves about 60 Harry Caswell employees and brings founder Harry Caswell on as a consultant as part of an owner retirement/ succession plan.

American Industrial Partners (AIP) has acquired Veolia North America's Sulfuric Acid Regeneration Business, which has been renamed Nexpera. The business, headquartered in Newark, Delaware, operates 13 facilities across the U.S., employs about 300 people, and provides sulfuric acid and potassium hydroxide regeneration, sulfur gas recovery, and sulfur-based products to refineries and other industrial end markets.

Fairdinkum Consulting, a New York–based IT consulting and MSP firm, has acquired InnoLink Systems, a Delaware-based technology solutions provider specializing in systems integration, cloud computing and cybersecurity. The acquisition expands Fairdinkum’s geographic footprint across the northeastern U.S. and broadens its managed services and technical capabilities; financial terms were not disclosed.

PyroGenesis Canada Inc. acquired 100% legal ownership of Drosrite International LLC for CAD$1.00, resolving the prior accounting vs. legal ambiguity that had left Drosrite as a legally separate but accounted-for subsidiary. The acquisition gives PyroGenesis a fully owned U.S. subsidiary (Drosrite supplies waste-management systems to the aluminum industry) and positions the company to expand its U.S. operations and international strategy.

Med-Metrix, a technology-enabled revenue cycle management platform backed by A&M Capital Partners, has acquired Hospital Billing & Collection Service, Ltd (HBCS). The add-on strengthens Med-Metrix's end-to-end RCM capabilities by adding HBCS' patient financial engagement, self-pay and insurance reimbursement solutions; financial terms were not disclosed.

Custom Computer Specialists (a portfolio company of Columbia River Partners) has acquired Info Solutions, LLC, a Wilmington, Delaware-based technology infrastructure consulting, integration and management firm. Info Solutions' managing partners Rich Roux and Bill Riley will continue to lead the business within CCS as the company expands CCS's footprint and service capabilities across the Mid-Atlantic region.

JP 3E Holdings, Inc. (formerly Spooz, Inc.) has signed an agreement to acquire a majority ownership interest in Bloxcross, Inc., a blockchain-based digital assets and cross-border payments platform. The investment is intended to accelerate Bloxcross's global expansion and establish JP 3E's trade financing capability across end markets including energy, food (eatables) and education.

Diversify Advisor Network announced that Key Advisors Wealth Management, a Delaware-based fee-only firm with $645 million AUM, is joining Diversify Wealth Management, Diversify’s Partner Platform. As part of the expanded affiliation, Key Advisors’ founder Eddie Ghabour will take an equity stake in Diversify and lead the team’s integration to accelerate growth, succession planning and advisor monetization.

Myonex has completed the acquisition of SaveWay Compounding Pharmacy, a Newark, Delaware-based compounding pharmacy, to expand its direct-to-patient and home healthcare capabilities for clinical trials across the United States. The purchase enhances Myonex's clinical trial supply offerings—adding compounding, drug sourcing and dispensing capabilities to support decentralized and hybrid trials nationwide.

Italian technology company Bending Spoons has agreed to acquire StreamYard Top Corp (also known as Hopin), the operator of StreamYard, Streamable, and Superwave. The acquisition brings a suite of live‑streaming, video‑hosting and community products to Bending Spoons as it seeks to expand capabilities and grow the products' user base and technology reach.

Katabat, a provider of cloud-based debt collection and debt management software, received a strategic growth investment from Tritium Partners and Terminus Capital Partners. The capital will be used to expand Katabat’s product capabilities and go-to-market, and the transaction represents an exit for venture investors Camden Partners, Osage Venture Partners and Activate Venture Partners.

The Hertrich Family of Automobile Dealerships has acquired Lewes Body Works Collision Center in Lewes, Delaware, renaming it Hertrich Collision Center of Lewes New Road. The center becomes the dealership group’s 13th collision facility and adds an experienced local staff and a long-standing customer base to Hertrich’s regional collision network.

Ingersoll Rand Inc. agreed to acquire ILC Dover from New Mountain Capital for approximately $2.325 billion in upfront cash plus an earnout tied to 2024 operating metrics. The acquisition establishes a life sciences platform within Ingersoll Rand's P&ST segment, expands the company's presence in biopharmaceutical and medical device markets, and brings ILC's ~2,000+ employees and global manufacturing footprint into the business.

Atwell, LLC has acquired Karins and Associates, an engineering, surveying, and planning firm with locations in Delaware, Pennsylvania, and Maryland. The deal expands Atwell's surveying and engineering capabilities in the Mid-Atlantic and adds Karins' team of more than 50 employees to Atwell's national platform.

Sodexo’s InReach, the company’s multimarket convenience solution, has acquired K&R Vending Services, a New Castle, Delaware–based vending and breakroom operator. The acquisition expands InReach’s footprint across the Delaware Valley (Philadelphia, Southern New Jersey, Delaware and Eastern Maryland) and brings K&R’s leadership into InReach’s team to support continued foodservice and convenience offerings.