Acquisitions in Florida in 2020

David Centner Enterprises, the family-office vehicle of serial entrepreneur David Centner, acquired Canadian reputation-management firm Guaranteed Removals (rebranded Erase.com); the deal closed December 31, 2020 and was announced in July 2021. Following the acquisition the company relocated its corporate headquarters to Miami, Florida and appointed Alexander Kurian as CEO to scale the business in enterprise-level negative content management.

Gibraltar Industries (Nasdaq: ROCK) acquired TerraSmart, a provider of screw-based ground-mount solar racking, for $220.0 million (approximately $228.2 million including working capital adjustments) and acquired Sunfig, a solar project design and modeling software provider, for $3.75 million in cash. The deals expand Gibraltar's renewable energy platform and capabilities across ground-mount racking, tracker systems, and solar project design/financial modeling to grow its solar energy business.

Constellation Affiliated Partners, a New York-based insurance consolidator platform backed by RedBird Capital Partners, has acquired Coastal Insurance Underwriters and Cybercom. The deal brings Coastal's program administration and underwriting capabilities for condominium and homeowner associations together with Cybercom's web-based quoting/underwriting platform to expand Constellation's product and technology offerings in the U.S. market.

A company backed by the Permira funds has agreed to acquire a majority stake in Boats Group from funds advised by Apax Partners. Boats Group, a Miami-based online classifieds marketplace and technology provider for the recreational marine industry (brands include YachtWorld, Boat Trader and boats.com), will partner with Permira to expand internationally and develop new products and services; financial terms were not disclosed.

Searchlight Capital Partners and ForgeLight acquired an approximately 64% majority ownership interest in Univision Holdings, Inc., with Grupo Televisa retaining about 36% and converting warrants into common stock. Wade Davis (ForgeLight) becomes Univision CEO as the new owners plan to deepen engagement with U.S. Hispanic audiences, expand digital capabilities and accelerate content and advertising-product initiatives.

An investment affiliate of J.F. Lehman & Company has acquired CTS Engines, LLC and CTS Testing, LLC from Platte River Equity. CTS, a Fort Lauderdale, Florida-based independent provider of jet engine MRO and testing services serving air cargo, commercial and military customers, will be supported by JFLCO's sector expertise and capital to accelerate growth.

UFP Industries, through its subsidiary UFP Industrial, LLC, acquired 100% of PalletOne, Inc. for approximately $232 million, with PalletOne's management team (including President Howe Wallace) remaining in place. The acquisition expands UFP's industrial packaging and pressure-treated lumber capabilities, adding PalletOne's 17 manufacturing locations (22 total sites across affiliates), Sunbelt Forest Products and SunOne Logistics, and more than 1,500 employees.

The parent company of Saladworks — newly organized as WOWorks and fully owned by Centre Lane Partners — has acquired Garbanzo Mediterranean Fresh and Frutta Bowls and consolidated the brands under the WOWorks holding company. Saladworks' operations team will manage the two concepts to drive growth and scale, with Garbanzo CEO James Park remaining on as a special advisor.

Firstsource Solutions Limited, an RP-Sanjiv Goenka Group company, has acquired PatientMatters, a Century Equity Partners portfolio company and US-based provider of healthcare Revenue Cycle Management (RCM) solutions. The acquisition strengthens Firstsource's provider business by adding PatientMatters' pre-authorization and patient bill-estimation capabilities and expands its presence in large US markets such as Texas and New York.

Jet Parts Engineering LLC, a portfolio company of Vance Street Capital, has acquired AeroSpares, Inc., a designer and seller of proprietary FAA-approved aftermarket PMA parts, particularly pressure switches. The add-on expands JPE's catalogue of proprietary PMA parts and engineering capabilities to better serve commercial and cargo airlines and MRO customers; financial terms were not disclosed.

H.I.G. Capital (through an affiliate) made a growth equity investment in KM2 Solutions to support the BPO provider’s continued expansion across the Caribbean and Latin America and to fund investments in next-generation customer experience technologies. The deal leaves KM2’s management team in control and aims to accelerate the company’s nearshore contact center growth into high‑growth markets.

Monocle Acquisition Corporation (a SPAC) completed a business combination with Leonard Green & Partners‑backed AerSale Corporation, taking AerSale public on the Nasdaq under the ticker ASLE. The transaction provided AerSale with cash and equity consideration (implied enterprise value ≈ $430M at signing) to strengthen its balance sheet and support expansion of its MRO, asset purchase, and engineered solutions initiatives while existing shareholders, including Leonard Green & Partners, retained a significant equity stake.

IBH Population Health Solutions (Integrated Behavioral Health, Inc.), a Periscope Equity–backed population and digital health platform, has acquired HMC HealthWorks to expand its chronic condition management, wellness, pharmacy specialty and managed behavioral health capabilities. The deal brings HMC's expertise and programs into IBH's digitally-enabled, whole-person population health suite and retains HMC founder Dr. Jan DiMonaco in an ongoing advisory/board role.

Clearlink, the digital marketing subsidiary of Sykes Enterprises, acquired Taylor Media Corporation, owner of personal finance site The Penny Hoarder, in an all-cash transaction valued at $102.5 million. The acquisition expands Clearlink's digital media portfolio and extends Sykes' reach into the broader financial services advertising market by adding The Penny Hoarder's audience, content expertise and advertiser relationships.

ProGreen, a division of Sprinturf, LLC, has acquired Artificial Artisans, a residential and commercial synthetic turf installer based in Orlando, Florida. The acquisition will rebrand Artificial Artisans as ProGreen Central Florida and serve as a strategic hub for ProGreen's expansion in Florida.

U.S. Retirement & Benefits Partners (USRBP) announced that TSA Consulting Group (TSACG), a Florida-based third-party administrator and retirement plan compliance specialist, has joined the USRBP network. TSACG, which serves more than 3,000 employer groups and administers over $45 billion in assets, will integrate with USRBP to strengthen the firm's capabilities and position in the K-12 marketplace; Raymond James served as TSACG's exclusive financial advisor.

IES Holdings, Inc. acquired an 80% ownership interest in Bayonet Plumbing, Heating and Air-Conditioning, LLC, a Hudson, Florida-based residential HVAC and plumbing services provider. The Blankenship family will retain a 20% stake, and Bayonet — with trailing 12-month revenue of about $86 million and over 500 employees — will join IES's Residential segment to expand its Florida footprint and add HVAC and plumbing capabilities.

An affiliate of Sun Capital Partners has signed a definitive agreement to acquire Miami Beach Medical Group (MBMG) from Gauge Capital; the transaction closed in December 2020. MBMG, headquartered in Doral, Florida, operates 19 medical centers and an MSO serving Medicare Advantage and Managed Medicaid members and will join Sun Capital as it looks to accelerate growth in the Medicare Advantage market.

Ambipar Response, part of Ambipar Group, has acquired IntraCoastal Environmental, LLC (ICE), a southeastern U.S. marine, industrial and emergency-response services provider with offices in Jacksonville and Savannah. The deal expands Ambipar Response's North American footprint and will integrate ICE into Ambipar's network of global emergency response and environmental services offices.

SPS Commerce, Inc. acquired D Masons Software, LLC (Data Masons), a cloud-hosted EDI software and services provider focused on the Microsoft ERP market; the deal closed December 17, 2020. As part of SPS Commerce, Data Masons' customers will gain access to SPS's global retail network and expanded supply-chain connectivity and EDI capabilities. Founders Advisors served as the sell-side advisor to Data Masons.

Tampa-based DataLink Software acquired Miami-based Orizon360° to expand its Evoke360 population health platform with Orizon360°'s Rockerbox value-based analytics and financial informatics. The deal, supported by lead investor Revelstoke Capital Partners, strengthens DataLink's capabilities in risk analytics, claims integration and HMO operations while expanding its Florida footprint among Medicare Advantage payers and providers.

Saw Mill Capital, through its affiliated funds, has acquired RND Automation, a Lakewood Ranch, Florida-based integrator of robotics, vision systems and automation solutions for packaging and assembly. The deal expands Saw Mill's automation portfolio and formalizes a partnership with portfolio company iAutomation to cross-sell capabilities and accelerate growth; terms were not disclosed.

Radiology Partners completed the acquisition of MEDNAX Radiology Solutions, a division of MEDNAX, Inc., in a transaction valued at approximately $885 million that closed December 15, 2020. The deal brings hundreds of MEDNAX radiologists and support staff into Radiology Partners, expanding clinical coverage, subspecialty capabilities and technology resources across the combined organization.

Acme United Corporation acquired the assets of Med-Nap LLC, a Brooksville, Florida-based manufacturer of alcohol prep pads, antiseptic wipes and related cleaning products. Med-Nap reported estimated 2020 revenues of approximately $4.9 million and EBITDA of about $1.0 million, employs 25 people, and the acquisition provides Acme with an FDA-registered U.S. manufacturing facility and new product lines; purchase price was not disclosed.

An affiliate of The Jordan Company, via Resolute Fund IV, has acquired Spectrio, a Tampa/Oldsmar-based provider of digital signage, content management and customer engagement solutions, from affiliates of Bertram Capital. Bertram Capital will retain a minority equity stake and Spectrio’s existing management team will continue to lead the business; financial terms were not disclosed.

Arcapita Group’s portfolio company Waste Harmonics has acquired Talismark, a waste solutions management company that specializes in custom-designed waste management programs. The add-on aims to expand Waste Harmonics’ service capabilities and strengthen its market presence across North America.

Kelso Fund X, through affiliates of Kelso & Company, acquired a majority equity interest in Refresh Mental Health on December 9–10, 2020, in partnership with Refresh management. Lindsay Goldberg sold its stake; Refresh is a national outpatient mental health provider with 200+ locations across 28 states and the District of Columbia, ~2,000 clinicians and more than one million patient visits annually.

Abracon LLC has acquired Fox Electronics, a Fort Myers, Florida-based supplier of frequency control products, as an add-on to the Abracon platform. The deal was executed while Abracon is majority-owned by The Riverside Company and expands Abracon’s timing and frequency product portfolio, sales channels and inventory to better serve automotive, telecom, IoT and medical end markets.

Canossa Events, an Italian organizer of classic and sports-car events, has acquired US-based Cavallino Inc., the publisher and organizer of the Palm Beach Cavallino Classic. The deal brings Cavallino’s long-running Ferrari-focused magazine and marquee US events into Canossa’s and the Motorsport Network’s ecosystem to support global expansion and new commercial opportunities.

OneWater Marine Inc. completed the acquisition of substantially all assets of Tom George Yacht Group, adding two locations that deepen the company's presence on Florida's west coast (Clearwater and Dunedin). Tom George Yacht Group, an authorized dealer and full-service yacht brokerage and service provider with over $30 million of trailing-12-month revenue, will join OneWater's network to expand new and pre-owned boat sales, brokerage, and service & parts offerings.

AMPORTS has acquired 100% of Horizon Terminal Services, a marine terminal operator with facilities in Jacksonville and Port Everglades, Florida, and Freeport, Texas, from Höegh Autoliners B.V. The acquisition expands AMPORTS' U.S. terminal network and capabilities in automotive vehicle processing, warehousing and marine cargo handling to strengthen its footprint and service offering.

By Light Professional IT Services, a portfolio company of Sagewind Capital, has acquired Raydon Corporation, a Port Orange, Florida-based provider of virtual training and simulation technology for the U.S. Department of Defense. The acquisition expands By Light's modeling & simulation and virtual training capabilities; financial terms were not disclosed and Truist Securities served as Raydon's exclusive financial advisor.

Baird Capital has made a growth investment in HSP Group, a technology-enabled business services firm that provides finance, tax, legal and HR support to companies expanding internationally. The capital will help HSP Group launch and accelerate its operations and expand its service offerings across the US and Europe.

Shenandoah Industrial Services, a KLH Capital-backed provider of storm drainage and pipeline rehabilitation services, has acquired Bay Area Environmental Services, a Gibsonton, Florida-based water and sewer pipeline cleaning, testing, and restoration specialist. The add-on expands Shenandoah’s footprint into Tampa Bay and West Central Florida, adds experienced staff and new municipal, industrial and government customers, and broadens its service capabilities in pipeline inspection and rehabilitation.

Advanced Dermatology and Cosmetic Surgery announced the acquisition of Nielsen Dermatology, the Boynton Beach, Florida practice of Dr. Timothy Nielsen. The practice will join Advanced Dermatology’s national platform of approximately 140 offices, expanding the company's South Florida footprint and adding Dr. Nielsen's dermatology and dermatopathology capabilities.

Imprivata, the healthcare-focused digital identity company, acquired FairWarning Technologies, a patient privacy intelligence and insider-threat analytics provider, to integrate data privacy, analytics, and insider-threat detection into its Digital Identity platform. The deal (announced December 2, 2020) strengthens Imprivata's identity governance and privacy capabilities for healthcare customers and expands its analytics offerings to joint customers; the seller was private equity firm Mainsail Partners.

Provepharm Life Solutions has acquired Apollo Pharmaceuticals USA Inc., a Florida-based commercial specialist in sterile injectable products for hospitals. The acquisition strengthens Provepharm's U.S. commercial platform and adds Apollo's four registered products, enabling faster U.S. growth and streamlined hospital-focused sales operations.

ShoreMaster (which merged with HydroHoist) announced the acquisition of Neptune Boat Lifts, a Fort Lauderdale-based manufacturer of saltwater boat lifts. The deal expands ShoreMaster/HydroHoist's product portfolio into the salt-water market and adds Neptune's dealer and installer network across Florida and the Caribbean.

SPS Companies Inc. has acquired the assets of US Wholesale Pipe & Tube Inc., a Holiday, Florida-based distributor and manufacturer of galvanized mechanical steel pipe and tube products. The seller/owner Ed Rachel is stepping aside while the target's executive management (led by JR Baker and Rob Posavec) will remain; SPS said the deal expands its Tubular Products Group and distribution/manufacturing capabilities across five U.S. locations.

New Era Technology acquired Global Convergence, Inc., a global managed services and network implementation provider, in a deal announced December 2020. Three Sixty Seven served as exclusive advisor to Global Convergence; the acquisition strengthens New Era's managed technology solutions and expands its global service capabilities.

AdaptHealth Corp. agreed to acquire Orlando-based AeroCare Holdings for approximately $2.0 billion in a transaction consisting of about $1.1 billion in cash and 31 million shares of AdaptHealth stock. The deal, announced December 1, 2020 and closed February 2, 2021, expands AdaptHealth’s home medical equipment scale and geographic footprint—creating a combined company serving nearly 3 million patients from over 500 locations across 46 states.

Greater Sum Ventures (GSV), an entrepreneurial family office and growth equity investor, made a majority investment in Orlando-based payments technology provider Fattmerchant to fund product innovation and accelerate growth. Fattmerchant will continue to be led by CEO Suneera Madhani and the founding team while leveraging GSV's capital and operational support to expand its Omni and Omni Connect offerings for ISVs and SMB merchants.

MIB Group, Inc. announced the acquisition of Paperless Solutions Group (PSG) to expand its portfolio of digital solutions for the life insurance industry. The deal brings PSG's cloud-based tools for application processing, signatures, policy delivery and underwriting automation into MIB's offerings to accelerate and streamline insurance application and underwriting workflows.

Patrick Industries, Inc. completed the acquisition of Taco Metals, LLC, a Miami-based manufacturer of marine products and accessories. Taco, a family-owned business for over 60 years, is projected to have approximately $40 million in 2020 revenue and will operate as a stand-alone brand within Patrick to expand its marine and aftermarket platform.

Sirius Computer Solutions has acquired Boca Raton-based Champion Solutions Group, bringing the MessageOps practice and Inscape cloud monitoring product into Sirius. The deal expands Sirius' Microsoft cloud capabilities, roughly doubles its Microsoft solutions practice, and aims to grow recurring revenue and presence in Florida and the Southeast.

An affiliate of private equity firm First Reserve has agreed to acquire all outstanding shares of The Goldfield Corporation for $7.00 per share in cash via a tender offer, implying an enterprise value of approximately $194 million. Goldfield, a U.S.-based provider of electrical transmission and distribution maintenance services, will be taken private in a transaction unanimously approved by Goldfield's board and expected to close by January 2021.

DataLink Software, a Tampa-based provider of population health management software, received a growth equity investment from an investor group led by DWS's private equity business, with existing investor Revelstoke Capital Partners continuing as an investor. The capital, together with a senior secured credit facility arranged by Varagon Capital Partners (with participation from Comvest Partners and BC Partners Credit), will be used to bolster provider engagement services and pursue strategic M&A to expand product capabilities and market reach.

KellyServices USA, LLC (Kelly Services) acquired Greenwood/Asher & Associates, Inc., a higher education executive search and consulting firm headquartered in Miramar Beach, Florida. Hyde Park Capital served as exclusive investment banker to Greenwood/Asher in the sale, which expands Kelly's education offerings into the higher education market.

GI Partners, a San Francisco-based private investment firm, has acquired Valet Living, the Tampa-based, full-service amenities and doorstep waste provider to the multifamily housing industry, from funds managed by Ares Management's Private Equity Group and Harvest Partners. The investment will support Valet Living's continued innovation and nationwide expansion, including organic growth and acquisitions of local operators, and build on the company's app-enabled resident services and proprietary technology.

Carousel Capital has partnered with Ethos Risk Services' management in a recapitalization of Ethos Risk Services, a tech-enabled provider of fraud and claims investigation services headquartered in St. Petersburg, Florida. The deal was funded with equity from Carousel Capital’s fifth fund and senior debt from Freeport Financial Partners to support technology investment and expansion of Ethos’ investigator workforce.