Acquisitions in Florida in 2022

Concentric Investment Partners has closed an investment in Peak Nutritional Products, a Tampa-based contract manufacturer of nutraceutical products serving sports nutrition, fitness, and health & wellness brands. The investment provides growth capital to support Peak’s custom formulation, manufacturing, packaging, and distribution capabilities for tablets, capsules, liquids, and powders.

One Equity Partners, with co-investment from Hauser Private Equity, agreed to acquire ACI Worldwide’s corporate online banking solutions and launch the business as Dragonfly Financial Technologies. The carve-out creates an independent, API-first digital business banking and cash-management software provider led by CEO Johan Roets, positioning the new company for focused investment and growth in cloud-based banking technology.

Crew One Productions acquired the assets of Innercept Management Corporation, a provider of skilled temporary labor for concerts and large events in South and Central Florida. The acquisition expands Crew One’s event staffing capabilities and strengthens its footprint in the Florida live-events market.

Flourish Research, an NMS Capital portfolio company, has acquired Suncoast Research Group, a multi-therapeutic clinical research site based in the Little Havana neighborhood of Miami, Florida. The founders and current management will remain in place; terms were not disclosed. The deal expands Flourish's integrated clinical site network and increases access to diverse patient populations in the Florida market.

Keyes Coverage, a Tamarac, Florida-based independent insurance agency and Platform Partner of Keystone Agency Partners, has acquired Amsley Insurance and Parkland Insurance Marketing to expand its geographic footprint across Florida. Financial terms were not disclosed; the deals add Amsley's Greater Orlando presence (St. Cloud/Kissimmee) and Parkland's sports and entertainment-focused offering to Keyes' platform.

DISA Global Solutions, a portfolio company of Audax Private Equity, has acquired Global HR Research (GHRR) from Renovo Capital. The add-on strengthens DISA's employee screening, testing and compliance capabilities and expands its presence in end markets including healthcare, manufacturing and education; financial terms were not disclosed.

VersiTech, a provider of restaurant point-of-sale software and hardware, has acquired Ordyx POS, a cloud-based point-of-sale solution for the restaurant industry. The acquisition brings Ordyx's cloud and mobile POS capabilities into VersiTech's product suite to expand functionality and integrations for restaurant customers and dealers.

FUJIFILM Corporation entered into an asset purchase agreement to acquire the global digital pathology business of Tampa-based Inspirata, Inc., including the Dynamyx technology, associated employees and customers. The acquisition expands FUJIFILM's Synapse Enterprise Imaging portfolio to add digital pathology capabilities and support integration of pathology images and data across healthcare organizations.

Churchill Downs Incorporated announced a definitive agreement to acquire Exacta Systems, a provider of historical horse racing (HHR) technology, for $250 million in cash. The asset purchase is intended to deliver tax benefits and operational synergies with CDI’s existing racetrack and HHR operations, and is expected to close in 2023 pending regulatory approvals.

LP First Capital and Trive Capital partnered with an experienced management team to form Cascade Services, a residential tri-trade platform focused on HVAC, plumbing and electrical contractors. Cascade has completed four Florida acquisitions — Mid-Florida Heating and Air, Aztil Air Conditioning, Extreme Air & Electric, and Air Boca — as part of a platform-build strategy to pursue add-on opportunities across the Southern United States.

Fort Lauderdale-based Chen Moore and Associates has acquired Jupiter, Florida-based NZ Consultants in a 100% acquisition that expands Chen Moore's planning services and establishes a satellite office in Jupiter. The deal increases the firm's statewide headcount to about 120 employees and brings NZ Consultants' principal Nilsa Zacarias, AICP, into Chen Moore as Director of Planning.

Toronto-based private equity firm Lynx Equity Limited has acquired Resource4Floors, a full-service commercial flooring contractor headquartered in Fort Lauderdale, Florida. The deal is an add-on to Lynx's Lynx Flooring Portfolio (LFP) and expands the group's geographic presence into Florida while preserving existing management.

South Florida-based private equity firm Alterna Equity Partners completed a control acquisition of the Bulk Express family of companies — including Bulk Express Transport, Soil Tech Distributors, M3 Transport and Inter City Disposal. The Miami-headquartered business is a leading long-haul waste hauling and transfer-station services provider in Florida; AEP plans to partner with management to expand the company's market position and advance operational and environmental initiatives.

Risk Strategies has acquired Worldwide Assurance, a health and benefits-focused retail agency founded in 2012; terms were not disclosed. The acquisition strengthens Risk Strategies' employee benefits specialty practice and adds capabilities and geographic reach to serve clients such as medical practices, higher education and professional services firms.

ATSG, a RunTide Capital-backed tech-enabled managed services company, acquired Miami-based Xentaurs, LLC to enhance its cybersecurity portfolio and managed detection and response (MDR) capabilities. The deal expands ATSG’s security consulting, hybrid cloud and MDR offerings and strengthens its presence in the Southeast United States.

Bishop Lifting, a portfolio company of Altamont Capital Partners, completed the acquisition of Worswick Group Holdings — a Florida-based group that includes Certified Slings and Supply and several other brands with ten operating locations across Florida. The add-on expands Bishop Lifting's physical footprint into Florida, broadens its lifting and rigging product and service offerings, and keeps prior owner Doug Worswick in a leadership role with the combined business.

NexPoint Storage Partners acquired 29 newly developed self-storage properties from SAFStor, bringing its wholly owned portfolio to approximately $1.7 billion in assets and 71 operating properties. As part of the deal Extra Space Storage extended and restructured its preferred equity investment in NexPoint and will manage NexPoint’s entire platform (nearly 90 properties) under the amended arrangement.

Hub International Limited has acquired the assets of AM Insurance Services of Miami, Inc., expanding Hub's employee benefits capabilities in South Florida. Claudine Nelson, President, and the AM Insurance Services team will join Hub South Florida; terms were not disclosed.

Second Nature Brands, a snacks platform controlled by CapVest Partners LLP, has completed the acquisition of Brownie Brittle from Encore Consumer Capital. The deal is an add-on to the Second Nature Brands platform to expand its portfolio into baking and accelerate Brownie Brittle's retail and e-commerce growth; terms were not disclosed.

Exeter Capital led the acquisition of FL Glaze, LLC, the largest Dunkin’ franchisee in Florida operating 100 Dunkin' units, with a capital investment from Pittco Direct Investments II, LP. The transaction establishes Exeter’s platform presence in Florida’s Dunkin’ market and provides growth capital and scale for the franchisee.

BV Investment Partners announced a growth investment in Imagenet, LLC to partner with management and accelerate the expansion of Imagenet's health plan–oriented operational and administrative technology and tech-enabled services. The investment will support scaling Imagenet's JetStream workflow platform, claims adjudication, and back-office support capabilities to serve health plans nationwide.

Waverly Advisors, a Birmingham-based registered investment advisor, has acquired Wall Advisors, a small wealth management firm founded by H. Lee Wall. The Wall Advisors team of four will join Waverly (Lee Wall will serve as Regional Director); the deal closed on December 2, 2022 and is Waverly's third RIA acquisition since taking equity backing from Wealth Partners Capital Group and HGGC's Aspire Holdings platform.

MarineMax, Inc. acquired Midcoast Construction Enterprises, LLC (Midcoast Marine Group), a Central Florida–based full-service marine construction company, adding marina development capabilities, specialized equipment, and waterfront real estate in Tarpon Springs, Florida. Midcoast founder and CEO Jack Fulford will continue to run the business as part of MarineMax's expanding marina and services platform.

Medical Specialists of the Palm Beaches (MSPB), a South Florida primary-care and multi-specialty physician group, received an equity investment from healthcare-focused private equity firm Ascend Capital Partners and management partners at CareAbout. The funding will be used to expand MSPB's footprint, enhance value-based care services, and invest in additional clinical specialties across Palm Beach and Broward counties.

CPT Network Solutions, a national technology services provider, has acquired MConnect, Inc., a Florida-based hosted telecom provider focused on senior living and multi-family properties. The deal expands CPT’s product set and reach in the senior living market while bringing MConnect into CPT’s family of companies alongside KeyCom.

Enhabit, Inc. (NYSE: EHAB), a national home health and hospice provider, acquired the Fort Myers, Florida home health agency of Southwest Florida Home Care, Inc. The acquisition expands Enhabit's footprint in Florida to 22 home health locations and increases its ability to serve southwest Florida communities.

Amulet Capital Partners, a middle-market healthcare-focused private equity firm, has acquired United Vein & Vascular Centers (UVVC), a Tampa-based provider of outpatient vascular care operating more than 30 clinic locations. Amulet will partner with founder and CEO Dr. Gamal Wazni and management to expand UVVC’s national footprint, add new clinics and broaden its treatment capabilities.

First Aviation Services Inc. has acquired Associated Aircraft Manufacturing & Sales, Inc. (AAMSI), a Fort Lauderdale-based manufacturer and MRO provider for aircraft electronics, avionics, hydraulic and landing gear components. The deal, completed on November 22, 2022, expands First Aviation's manufacturing and repair capabilities — particularly its defense / DOD-approved repairs — and creates opportunities for vertical integration across its component repair and overhaul operations.

GeoPoint Surveying, a large Florida-based land surveying firm, has acquired Emerald Coast Associates, Inc. (ECA), a Santa Rosa Beach surveying firm with over 40 years of local experience. The deal adds 17 employees and leadership personnel to GeoPoint as part of its strategy to expand its north Florida presence and meet growing demand in the Panhandle.

Audax Private Equity has acquired Medi-Weightloss, Inc., a Tampa-based operator and franchisor of physician-supervised weight-loss and wellness clinics with approximately 100 franchised and company-owned locations across 27 states. Buzz Franchise Brands is co-investing as a minority partner; financial terms were not disclosed. Audax said it will support franchise growth, geographic expansion and enhanced patient outcomes.

Palm Beach Capital announced it has fully exited its investment in Cadre Holdings, Inc., realizing proceeds equal to 9.3x its invested capital. Cadre, headquartered in Jacksonville, Florida, is a global manufacturer and distributor of safety and survivability equipment for first responders and federal agencies; the exit follows Cadre's IPO in November 2021 and a period of growth driven by thirteen acquisitions.

HKW portfolio company Culture Partners has acquired Paradigm Learning, a Seminole, Florida–based provider of instructor-led, game-based leadership development and business simulations. The add-on expands Culture Partners' offerings by integrating Paradigm's experiential learning simulations into its Culture Equation Journey; financial terms were not disclosed.

Beringer Capital made a significant growth investment in VeraData, a Fort Myers–based decision science and fundraising acceleration platform serving not-for-profit organizations. The capital will be used to invest in talent, capabilities, and technology to scale VeraData’s predictive modelling, machine learning platform, and fundraising analytics offerings.

Chicago-based private equity firm Wind Point Partners has acquired Envera Systems, a Coconut Creek, Florida-headquartered provider of automated and software-enabled security, access control, visitor management and remote video monitoring solutions for homeowners associations and gated communities. Wind Point is partnering with Envera's existing management team, which will remain in place and retain a meaningful ownership stake, to scale the business geographically and expand its solutions and monitoring capabilities.

CHA Consulting, Inc. has acquired Eckler Engineering, Inc., a Coral Springs–area civil engineering firm specializing in water and wastewater services. The acquisition expands CHA's water/wastewater technical capabilities and geographic footprint in South Florida.

A private investment group has acquired Cross Surveying, LLC, a 28-person land surveying firm based in Florida; Atwell, LLC provided financing and will collaborate with Cross Surveying on expansion and Florida operations. The deal strengthens Atwell's surveying capabilities across the Southeast, particularly in Florida and Georgia; financial terms were not disclosed.

Prospect Partners recapitalized Entech Computer Services, a Fort Myers-based managed IT and cybersecurity services provider, in a deal alongside Entech management. The partnership will support Entech's regional growth and pursue managed-services add-on acquisitions as the company becomes Prospect Partners' 55th portfolio company.

King Insurance, a Gainesville-based full-service insurance brokerage, has acquired Hunt Insurance Group, LLC, a Tallahassee specialty broker that advises housing authorities, prison systems and municipalities. The acquisition adds Hunt’s self-insurance and pooled program expertise to King’s capabilities and expands King’s public-sector product offerings and client relationships.

HireQuest, Inc. entered into a definitive agreement to acquire certain assets of MRINetwork (MRI), including its 232 franchise offices, for approximately $13.5 million before working capital adjustments. The acquisition gives HireQuest immediate scale in executive search and professional staffing, adding MRI's franchise network and complementary capabilities to HireQuest's existing staffing brands.

Ed Morse Automotive Group, led by Teddy Morse, has acquired Bruce Rossmeyer's Daytona Harley‑Davidson and the adjacent Destination Daytona complex from the Rossmeyer family. The dealership will operate as Teddy Morse's Daytona Harley‑Davidson while Destination Daytona will continue to host its existing tenants; the sale was facilitated by DCG Acquisitions and represents a family-owner exit and continuation of the site’s legacy under Ed Morse ownership.

ENTRUST Solutions Group has completed the acquisition of Magellan Advisors LLC, a provider of turnkey fiber and broadband planning, engineering, grant writing and network operations services. The deal expands ENTRUST's capabilities in fiber broadband and grid modernization and brings Magellan's broadband program experience into the ENTRUST platform backed by Kohlberg & Company.

Summit Fire & Security LLC, a subsidiary of SFP Holding, Inc. (Summit Companies), has acquired Advanced Fire Equipment, Inc., a family-owned fire protection and suppression service provider serving central Florida. The acquisition brings Advanced Fire’s team and capabilities into Summit’s Orlando operations to expand local fire protection, suppression and maintenance services.

Gauge Capital has partnered with the founders and management team of RIP-IT in a recapitalization to support the athletic equipment and footwear brand's next phase of growth. The investment will help RIP-IT expand marketing reach and continue developing female-focused sports products across its RIP-IT, Ringor, and Defender brands.

Centre Partners and Health Enterprise Partners jointly invested in (and acquired) Toney Healthcare Consulting, a Tampa-based clinical healthcare consulting firm that provides utilization management, care management, med-psych services and insource partnerships to health plans. Founder and CEO Sam Toney rolled equity alongside the investors and will continue to lead the business as the firm pursues growth and expanded capabilities serving health plans nationwide.

Accelmed Partners completed a $35 million growth investment in SKNV Inc., a Florida-based dermatology digital health company and FDA-registered 503B outsourcing facility that supplies customized medications and an ecommerce/in-practice dispensing platform. Proceeds will fund a new manufacturing facility in Florida, scale SKNV's proprietary digital platform, expand its U.S. sales footprint, and add strategic management hires.

ThreatLocker, an endpoint protection company based in Maitland, Florida, has acquired Third Wall (Harmonity Holdings LLC dba RMM Plus), a lockdown security plug-in for ConnectWise Automate. The deal integrates Third Wall's automated lockdown policies into ThreatLocker's allowlisting and ringfencing platform to strengthen endpoint protection and compliance capabilities for Managed Service Providers (MSPs).

ServiceTrade, a Durham-based field service management SaaS provider, has acquired NorthBoundary, a sales and proposal solution for commercial mechanical contractors. The acquisition integrates NorthBoundary’s Proposal Engine into ServiceTrade’s platform to connect selling and service workflows and expand ServiceTrade’s capabilities for mechanical and HVAC contractors.

HCA Healthcare has acquired Florida-based Paramount Urgent Care, Inc., a six-location urgent care operator in Central Florida (Orlando area). The acquisition expands HCA's urgent care and outpatient footprint in key Central Florida markets and was facilitated by Benchmark International; Paramount's leadership will partner with HCA to accelerate the company's growth within HCA's larger network.

Zelis has completed the acquisition of Payspan, a provider of healthcare electronic payment and reimbursement automation services. The deal brings Payspan’s payment network and capabilities into the new Zelis Advanced Payment Platform to expand payment modalities and communications for payers, providers, and consumers.

Blue Ridge Construction Capital (BRCC) has acquired Artistic Paver Manufacturing, a premium interlocking concrete paver manufacturer based in North Miami Beach, Florida. Lometa Capital Partners made a minority equity investment to support BRCC's acquisition; founder Dan Essig will transition to an advisor role while Matthew Wayman joins as CEO to support growth across the Southeastern and Southwestern U.S.