Acquisitions in Florida in 2016

Hub International Limited acquired the assets of MDW Insurance Group, Inc., Agents Insurance Resources, Inc., and A.I.R. Insurance Marketing, Inc.; terms were not disclosed. The MDW businesses — based in Coral Gables and Plantation, Florida, and Los Angeles, California — will join Hub Southeast/Hub Florida and MDW leadership will join Hub’s regional team.

HID Global, an ASSA ABLOY Group brand, has acquired Bluvision, a Bluetooth Low Energy provider for enterprise IoT, to expand its real-time location, asset-tracking and cloud-based IoT capabilities. The transaction closed December 1, 2016; financial terms were not disclosed and Bluvision will continue operations in Fort Lauderdale, Florida.

The Gorman-Rupp Company announced that its wholly-owned subsidiary, Patterson Pump Company, completed an asset purchase of the business of Morrison Pump Company of Hollywood, Florida. Terms were undisclosed; the acquisition is expected to integrate Morrison's product designs and staff into Patterson's manufacturing and international distribution network to accelerate growth in complementary niche markets.

Convey Health Solutions, a Fort Lauderdale–based provider of technology and benefits administration for government-sponsored health plans, has partnered with New Mountain Capital with co-investment from Eir Partners. The investment will support Convey’s next phase of growth and product/service enhancement; Houlihan Lokey advised Convey and TripleTree advised New Mountain.

Yenni Capital has acquired Steven Feller P.E., a Fort Lauderdale-based engineering design services firm, via Yenni Income Opportunities Fund I. The transaction, executed in partnership with the company's founder Steve Feller and Braga Investment & Advisory, will keep Steve Feller as President and aims to accelerate geographic expansion and strengthen financial and project management controls.

Crown Linen has completed the acquisition of commercial laundry provider Laundry Plus, expanding its Florida footprint into West Central Florida and adding a Bradenton facility. Laundry Plus, established in 1989 and a longtime supplier to Gulf Coast hotels, joins Crown Linen's existing facilities in Miami, Orlando, Fort Myers and Haines City.

Krones has acquired a majority interest in Trans-Market Sales & Equipment, Inc., a Tampa-based provider of process engineering and automation solutions for the liquid food industry. The previous owners will retain a minority stake and remain engaged in management; the deal strengthens Krones' process-technology capabilities and North American footprint.

White Wolf Capital LLC completed a recapitalization of CSI IT, LLC (also referred to as Consulting Solutions International), providing the company with additional capital and resources to support accelerated growth and expanded service offerings. Financial terms were not disclosed; White Wolf will partner with CSI's management team to pursue organic growth and business development initiatives. CSI is an IT consulting, staffing and recruiting firm headquartered in Tallahassee, Florida.

AMN Healthcare acquired Peak Health Solutions, a health information management company that provides remote medical coding and consulting services, to expand AMN's workforce and revenue cycle solutions. Peak Health Solutions was generating approximately $33 million in annualized revenue with adjusted EBITDA greater than 15%; the acquisition was funded with cash and borrowings under AMN's revolving credit facility and will be included in AMN's Other Workforce Solutions segment.

Enghouse Systems Limited (TSX:ESL) acquired the assets of NetBoss Technologies, Inc. for approximately CDN $9.3 million. The acquisition adds NetBoss’s service assurance, network analytics and OSS capabilities to Enghouse’s Networks portfolio and brings NetBoss’s ~40 employees and global customer base into Enghouse.

Cendyn, a Boca Raton–based provider of cloud-based software for the travel and hospitality industry, has received a growth equity investment from technology-focused private equity firm Accel-KKR. The partnership will fund accelerated investment in Cendyn’s product portfolio, new product innovation, and market expansion; terms were not disclosed.

Marsh & McLennan Agency LLC (MMA) has acquired Celedinas Insurance Group, a Palm Beach Gardens, Florida-based independent insurance agency that generates roughly $22 million in annual revenue. All 120 Celedinas employees and leadership, including CEO Ray Celedinas, will join MMA and continue operating under the Celedinas name as a Marsh & McLennan Agency company; terms were not disclosed.

APCO Holdings, LLC has acquired 100% of Automotive Development Group, LLC from The Zabel Companies, LLC. ADG's senior management will remain shareholders and the business will continue to operate as a separate unit under the current management team to expand APCO/EasyCare's dealer-facing capabilities in F&I products, training and consulting.