Acquisitions in Florida in 2019

Royal Baths Manufacturing Company, Ltd. acquired Clearwater, Florida-based Quality Acrylic Baths Inc., adding manufacturing capacity and unique tub designs to Royal's product offering. Royal, a portfolio company of Cotton Creek Capital, said the deal will expand service capabilities across the Southeast (Florida, Georgia and the Carolinas).

Better Choice Company, Inc. (BTTR) has completed its acquisition of Halo, Purely for Pets, adding the 30-year premium holistic pet food brand to its animal health and wellness portfolio. The Company also closed $28 million of senior secured financing as part of the transaction; total consideration for Halo was approximately $46.9 million (cash, junior notes and equity), and Halo’s CEO Werner von Pein and CSO Rob Sauermann will remain to run the business.

BRP Group, through its subsidiary Baldwin Krystyn Sherman Partners (BKS-Partners), agreed to acquire substantially all assets of Lanier Upshaw, an independent insurance agency based in Lakeland and Tampa, Florida. The transaction (expected to close Jan 1, 2020) will fold Lanier Upshaw into BRP's Middle Market Operating Group to expand its Central Florida market presence and broaden client capabilities in healthcare, higher education, construction and nonprofit segments.

InformedDNA, the U.S. leader in genetics services, has entered definitive agreements with TT Capital Partners, NovaQuest Capital Management, and Frist Cressey Ventures to receive a growth capital investment to scale its technology-enabled genetic services and expand its genetic counseling staff. Terms were not disclosed; InformedDNA will remain led by CEO David Nixon and has also secured a flexible credit facility from CIBC.

Builders FirstSource purchased the assets of Raney Components and Raney Construction, two Groveland, Florida-based providers of prefabricated wall panels, roof trusses and installation services. The deal adds vertically integrated manufacturing and installation capabilities to Builders FirstSource's platform and brings approximately $140 million of annual revenue and Raney's team into the BFS footprint.

OPSWAT, a San Francisco–based critical infrastructure cybersecurity company, has completed the acquisition of Impulse, a Tampa, Florida firm known for its SafeConnect Network Access Control and Software Defined Perimeter solutions. The deal integrates Impulse's NAC and SDP technologies and teams into OPSWAT's product portfolio and establishes OPSWAT's first East Coast hub in Tampa to expand engineering, IT, and support capabilities.

Lincoln Road Global Management and Peninsula Capital Partners, through an affiliate, have partnered with Gold Coast Fire Protection (Fort Myers, FL) and Florida Fire Systems to bring both companies into the Republic Fire Protection platform. The acquisitions expand Republic's regional coverage across Florida and the Southeast while keeping the target companies' leadership and operational autonomy in place.

Albireo Energy, the building automation and energy services platform backed by Huron Capital, has acquired Quality Building Controls (QBC), a Tampa-based provider of building automation systems and repair and maintenance services. The deal is an add-on to Albireo's platform that expands the company's presence in the Southeast, adds recurring service revenue, and retains QBC's management with founder Jerry Dohse remaining in a business development role.

Kayne Partners (Kayne Anderson) has invested in 3Cinteractive, a Boca Raton–based provider of mobile commerce and customer engagement platform services. The transaction is a growth-capital investment intended to support 3Cinteractive’s product and market expansion.

An affiliate of Warburg Pincus and Vivtera have acquired Arise Virtual Solutions from Strait Lane Capital Partners. The investment will support scaling Arise's virtual BPM platform, expanding its gig-based service lines and geographic reach while leveraging Vivtera's BPM operating expertise and Warburg Pincus's capital.

MODE Transportation has completed the acquisition of SunteckTTS Inc. from Comvest Partners, combining two large non-asset third-party logistics providers to create a multimodal logistics platform. The combined company expands capabilities across truckload, LTL, intermodal, drayage, air, ocean and parcel freight, facilitating more than 1.5 million annual shipments and generating over $2 billion of revenue.

Worldwide Facilities, a national wholesale insurance broker and managing general agent, has acquired Risk Management Advisory Group (RMAG), a managing wholesale broker focused on specialty personal and commercial lines in the U.S. Southeast. The deal expands Worldwide Facilities' geographic footprint and product offering, particularly in high-net-worth personal lines; financial advisor Marsh, Berry & Company served on the transaction.

Wind River Environmental, backed by Gryphon Investors, has acquired Cooke's Plumbing & Septic Services, a full-service grease trap, septic, drain cleaning and plumbing operator based in Stuart, Florida. The acquisition (an add-on) expands Wind River's footprint and capabilities in Southeast Florida; Cooke's has more than 30 employees and serves residential and commercial customers across Martin and Saint-Lucie counties.

Boathouse Capital partnered with independent sponsor Green Shoot Partners to acquire Fresh Dining Concepts, a Coral Gables‑based multi‑unit franchise operator that runs over 50 Auntie Anne's, Cinnabon and Carvel locations along the U.S. East Coast. Boathouse provided participating preferred equity while affiliates of Green Shoot Partners and FDC management invested common equity; debt financing was provided by Bridge Funding Group (a BankUnited subsidiary).

O2B Kids, a portfolio company of Spire Capital, has acquired Home Away From Home (HAFH), a Palm Beach, Florida-based early education provider operating five schools (with a sixth planned). The deal expands O2B Kids' footprint in Florida to 20 schools and will allow O2B to enhance HAFH's enrichment curriculum and program offerings.

Mercer Global Advisors (Mercer Advisors) acquired Adam Financial Associates, Inc. (AFA), a Boca Raton, Florida-based wealth management firm serving ~200 households with $190 million AUM. Mari Adam and her three-member team will join Mercer, expanding Mercer's Florida presence and increasing its total AUM to nearly $17.5 billion.

Growth Catalyst Partners has invested in TrueFire and JamPlay to form TrueFire Studios, an alliance combining their online video lesson libraries, mobile and desktop apps, and patented learning tools. The investment (with individual investor Bob Carrigan also participating) provides equity capital to advance technology, expand content production and marketing, and build a leading global destination for online music education.

Ryan, a global tax services and software provider, has acquired SALT Payroll Consultants, a St. Petersburg-based payroll and employment tax recovery firm owned by Pinpoint Recovery Solutions Corporation. The acquisition strengthens Ryan's Human Capital Tax practice by adding specialized payroll tax recovery expertise, significant Fortune 500/1000 client relationships, and experienced leadership (Kevin Cappock) who will join Ryan as practice leader.

Wind River Environmental, a Gryphon Investors–backed provider of non-hazardous liquid waste solutions, acquired Select Processing of Orlando, a three-acre permitted facility that processes septic, lift station and grease trap waste. The acquisition expands Wind River’s footprint and disposal capabilities in central Florida as part of its planned regional consolidation strategy.

The PromptCare Companies, a regional provider of specialty respiratory and infusion services, has acquired Hollywood Medical Supply from owner and CEO Robert Lichtenstein. The acquisition expands PromptCare's footprint into Florida and broadens its pediatric respiratory and specialty infusion capabilities in the Southeastern United States.

AssuredPartners, Inc. has acquired Mack, Mack & Waltz Insurance Group, Inc., an insurance agency based in Deerfield Beach, Florida. The 22-person agency, which reports $5.2 million in annualized revenue, will remain under its existing leadership while joining AssuredPartners to expand the firm's Florida operations and capabilities.

Ascension Property Services, a Memphis-based portfolio company of SouthWorth Capital Management, acquired Bryant Electric, Inc. of Doral, Florida. Kratos Capital advised Bryant Electric on the transaction, which closed on November 8, 2019; the deal expands Ascension’s building-services platform capabilities in commercial and industrial electrical work.

Arranta Bio has acquired Captozyme and integrated its Gainesville, Florida team and facilities to create a Center of Excellence for microbiome process and analytical development and early clinical supply. The acquisition expands Arranta's CDMO capabilities for live biotherapeutics and transfers Captozyme's clinical GMP capacity while Captozyme's enzyme therapeutic assets were spun out into Oxidien Pharmaceuticals.

The Harris Operating Group of Constellation Software Inc. completed the acquisition of BobCAD CAM Inc., a CAD/CAM software company. BobCAD will operate as an independent business unit within Harris, with its president Larry Pendleton named Executive Vice President for BobCAD.

Oracle Elevator, a Tampa-based independent elevator and escalator service provider backed by family office investors, has acquired Duncan Entrance Systems, a South Florida automatic door installation, repair and modernization company. The deal expands Oracle's service capabilities into automated building entrances across its 42 U.S. service markets; Duncan's staff will be retained and founder Justin Duncan will lead the new Entrance division.

Monomoy Capital Partners’ platform Construction Resources — through its United Materials (UMI) division — acquired Any Old Stone, a family-owned distributor of natural and quartz surfacing based in Jacksonville, Florida. The add-on expands Construction Resources’ surfacing distribution footprint in the Southeast, increasing market share in Florida and extending coverage into Northern Florida and Southern Georgia.

Clean Streak Ventures, a Florida-based car wash platform and portfolio company of MKH Capital Partners, announced acquisitions including Top Dog Express Car Wash & Oil Change, a majority stake in Clean Machine Car Wash, and three Blue Water Car Wash locations to expand its Florida footprint. The transactions convert the Blue Water sites to the Top Dog brand and deepen Clean Streak's presence in the Orlando and Naples/Fort Myers markets as part of a platform add-on growth strategy.

Funds managed by Harvest Partners have acquired Yellowstone Landscape from CIVC Partners. Yellowstone, a Palm Coast, Florida–headquartered commercial landscaping company serving over 5,000 customers from ~40 branches across the South and Southwest, will continue to be led by CEO Tim Portland and existing management who remain significant owners.

The Halifax Group completed an investment to acquire AAMP Global (AAMP Holdings, Inc.), a Clearwater, Florida-based manufacturer of vehicle aftermarket and OEM technology, from Audax Private Equity. Halifax partnered with CEO Jamie Fraser and AAMP's management team and said it will pursue organic growth and add-on acquisitions to expand the business in the U.S. and internationally; terms were not disclosed.

Reconstruction Experts (a portfolio company of Linx Partners) has acquired Advanced Roofing & Sheet Metal, a Fort Myers, Florida-based roofing services provider that serves multi-tenant housing and HOAs in Southwest Florida. The acquisition is an add-on to expand RE's geographic presence into Florida and deepen its roofing and restoration capabilities.

Lincoln Road Global Management and Peninsula Capital Partners have partnered (through an affiliate) to add Jacksonville-based Aegis Fire & Integrated Services to the Republic Fire Protection platform. Aegis's president, Allen Andone, will continue to run the business as the platform expands coverage across the Southeast.

Tnemec Company, Inc., a manufacturer of architectural and industrial protective coatings, has purchased the assets of Textured Coatings of America, Inc. (Tex•Cote). Tnemec said it will provide operational and managerial support to grow Tex•Cote's product lines and expand within its existing commercial, residential and DOT markets.

BoxCast, a Cleveland-based live video streaming platform, acquired Sunday Streams, a church-focused streaming solution, to expand its footprint in the worship streaming market. The deal brings Sunday Streams’ customers and team into BoxCast, enabling improved features and platform capabilities for houses of worship and other faith-based organizations.

Lee Equity Partners has acquired Cosmetic Solutions, a Boca Raton-based turnkey skincare formulation and manufacturing partner for premium and emerging brands. The founder-led management team will remain in place with meaningful equity, and Lee Equity will support growth and scale Cosmetic Solutions' R&D and manufacturing capabilities to meet rising market demand.

San Francisco-based private equity firm SkyKnight Capital made a growth investment in AeroCare Holdings, a leading U.S. provider of home respiratory and chronic-therapy services. The funding will support AeroCare's next stage of growth and continued M&A activity while existing shareholders (including Peloton Equity, SV Health Investors, and Morgan Stanley AIP) and management remain invested.

Exactus, Inc. has acquired LeVor Collection, a South Florida-based luxury cosmetics brand focused on CBD-infused skincare and beauty products. The acquisition expands Exactus's brand portfolio and provides a direct distribution channel into the cosmetics/personal-care market through an all-virtual, e-commerce-ready brand produced in cGMP facilities.

Wind River Environmental, a Gryphon Investors-backed provider of non-hazardous liquid waste solutions, has acquired Gibson Septic Tank Services, a family-owned septic and grease-trap service operator headquartered in North Fort Myers, Florida. The deal expands Wind River's footprint in Southwest Florida and adds grease trap pumping, septic pumping and septic system repair capabilities to its local platform.

Sciens Building Solutions, a portfolio company of Huron Capital, has acquired Mount Dora, Florida-based SmartWatch Security & Sound, a fire, security and sound integrator. The add-on expands Sciens' presence in Central Florida and adds expertise in access control, video surveillance and sound systems to its integrated offerings.

Canavation Product Group, a newly formed Delaware company led by Bill Barlow, has acquired the consumer products division of Teewinot Life Sciences. The deal includes a Teewinot-issued patent covering conversion of hemp-derived CBD into rare cannabinoids (including Δ8THC and Δ9THC) and a strategic supply agreement giving Canavation access to select rare cannabinoids produced via Teewinot's CannSynthesis platform; terms were not disclosed.

Hildred Capital Management completed a majority recapitalization of DermCare Management and Skin & Beauty Center, with Gemini Investors (the prior sponsor), the physician group and senior management retaining minority stakes. The transaction positions the dermatology platform—headquartered in Hollywood, Florida with nearly 30 locations across Florida, California and Texas—for further geographic expansion; financial terms were not disclosed and Oxford Finance provided debt financing.

Arthur J. Gallagher & Co. acquired The Doyle Group, Inc., which does business as Direct To PolicyHolder (DTPH), an e-commerce affinity platform focused on acquiring and retaining professional liability insurance policyholders in allied healthcare and wellness. The Doyle team, led by Nick Doyle, will continue to operate from Ponte Vedra Beach, Florida under Gallagher's North American Affinity operations to strengthen Gallagher's ecommerce marketing and affinity-channel capabilities.

IMC Health Medical Centers, a portfolio company of Comvest Partners and Athyrium Capital Management, acquired the primary care practice of Carlos Iglesias, MD and will integrate his patients into IMC's SW 8th Street location in Miami-Dade. The acquisition expands IMC's primary care footprint and gives Dr. Iglesias' patients access to IMC’s broader primary, specialty and social services offerings.

Pella Corporation has acquired Custom Window Systems, Inc., a vinyl window and door manufacturer headquartered in Ocala, Florida, from private equity firm Nautic Partners. Custom is a leading Florida manufacturer of impact‑resistant windows and doors sold primarily through dealer channels, and the deal expands Pella's capabilities and presence in Florida and other coastal hurricane zones.

PuroClean CEO & Chairman Mark W. Davis and Vice Chairman Frank Torre acquired the remaining 20% of the PuroClean franchise system from the company's prior owners, making them 100% owners. The transaction formalizes ownership consolidation after four years of leadership during which the franchise network expanded to roughly 290+ locations across the United States and Canada.

Y-COM Holdings, a portfolio company of Cotton Creek Capital, has acquired Atlantic Utility Constructors, Inc., a Florida-based provider of powerline installation and maintenance services. The acquisition expands Y-COM's capacity and capabilities in the Florida utility and power market; Atlantic will continue to be led by its existing management team.

Wynnchurch Capital has made a growth investment in Eastern Metal Supply (EMS), a Lake Worth, Florida-based value-added distributor and manufacturer of aluminum extrusions. The capital will support EMS's next phase of growth as it continues to expand its nationwide distribution and manufacturing footprint; EMS currently operates 14 distribution and manufacturing facilities and employs approximately 800 people.

The Anderson Group, an operationally-oriented private equity investor, completed a recapitalization of F.K. Instrument Co., Inc. in partnership with existing shareholders, including President Erich Klopfer. The transaction recapitalizes the precision machining business to provide growth capital for reinvestment in advanced machining technologies and continued expansion into demanding end markets such as aerospace, semiconductor and defense.

The Cook & Boardman Group LLC acquired Jacksonville, Florida-based Converged Communications, Inc., a full-service systems integration and managed services provider. Converged will operate as a division of A3 Communications (part of Cook & Boardman), expanding Cook & Boardman's systems integration capabilities and footprint in Northeast Florida and Southeast Georgia. Terms were not disclosed.

LLR Partners made a growth investment in Corestream to accelerate adoption of Corestream’s voluntary benefits SaaS platform among Fortune 500 employers and to fund continued product innovation. Corestream will continue to be led by co-founder and CEO Neil Vaswani and currently serves over 1.5 million employees through integrations with carriers, brokers and employers.

Berkery Noyes announced it represented RxStrategies in its acquisition by a mid‑market private equity firm. RxStrategies is a provider of technology and cloud‑based analytics for 340B program administration, serving hospitals, health systems, clinics and contract pharmacies.