Acquisitions in Georgia in 2022

Charger Investment Partners has acquired CMI Limited Co., a Woodstock, Georgia-based designer and manufacturer of shoreline preservation and marine access products, in a transaction announced in January 2023. Heartwood Partners Fund II, LP exited its investment in CMI as part of the sale; financial terms were not disclosed. Charger partnered with CMI management to support the company's next phase of growth.

The Hilb Group, a Richmond-based property & casualty and employee benefits brokerage backed by The Carlyle Group, acquired Alpharetta, Georgia-based Gillman Insurance Problem Solvers (including affiliates APA Insurance Services and 3G Truckin' Insurance), effective December 1, 2022. The deal expands Hilb Group's Southeast U.S. presence and deepens its P&C expertise; Ed Gillman and his team will join Hilb's Southeast regional operations.

Main Street Capital Corporation completed a minority recapitalization of World Micro Components, LLC, funding $18.1 million in a combination of first-lien senior secured term debt and a direct minority equity investment. World Micro, a Roswell, Georgia-based distributor of electronic parts and supply-chain services serving aerospace & defense, healthcare, technology and industrial automation end markets, partnered with Main Street and a co-investor while the company's existing owner and senior management remain involved.

Shoreline Equity Partners has partnered with C&S Chemicals, a Marietta, Georgia-based provider of water treatment and animal health chemicals, to support the company’s growth strategy. The Chandler brothers retain a significant ownership stake and will continue to lead the business as Shoreline provides capital and acquisition expertise to pursue organic growth and add-on acquisitions.

4612 Group acquired ON Services, a national live event production and in-house audio-visual provider, in a transaction that includes key ON Services management (Brent Milner, Austin Milner and Stan Milner) as co-investors. ON Services will remain branded as ON Services / ON Site and continue to be led by CEO Brent Milner as a privately held company under the new ownership.

Greif, Inc. completed the acquisition of Lee Container Corporation for $300 million in an all-cash transaction funded through Greif's existing credit facility. The acquisition expands Greif's jerrycan and small-plastic container footprint in North America, is expected to be margin-accretive, and to generate approximately $6 million in synergies within the first two years.

JoyBridge Kids, a portfolio company of Frontline Healthcare Partners, has acquired Independence Behavior Solutions, an applied behavior analysis (ABA) therapy provider based in Savannah, Georgia with two locations. The deal expands JoyBridge's clinical footprint into Georgia — bringing the platform to five clinics across Tennessee and Georgia — and supports the company's regional growth strategy to increase access to ABA therapy in the Southeast.

Electric Research and Manufacturing Cooperative, Inc. (ERMCO), a subsidiary of Arkansas Electric Cooperatives, Inc. (AECI), has acquired Spire Power Solutions L.P. from Mill Point Capital. The deal combines two North American transformer manufacturers to expand production capacity and extend product offerings into renewable energy and data center markets.

Beijer Ref AB has signed a binding agreement to acquire Heritage Distribution Holdings from Gryphon Investors for USD 1,275 million (USD 1,175 million excluding certain tax benefits). Heritage Distribution, headquartered in Atlanta, Georgia, operates a 64-branch HVAC/R parts and equipment distribution platform across ten U.S. states with approximately 800 employees; the acquisition is Beijer Ref's strategic entry into the North American market and provides a platform for further consolidation.

Anne Arundel Dermatology Management, a Ridgemont Equity Partners-backed dermatology platform, announced new affiliations with North Atlanta Dermatology, SkinPath Solutions, and the Dermatology Institute for Skin Cancer and Cosmetic Surgery in Georgia. The additions expand the Anne Arundel platform’s footprint in the Greater Atlanta area and add dermatopathology lab capability, bringing the platform closer to ~150 locations and 300 providers across seven states.

Hub International Limited has acquired the assets of Chatham Insurance Partners, LLC, an independent commercial and personal insurance agency based in Savannah, Georgia. The acquisition expands Hub's presence in the Savannah market and strengthens its commercial and personal lines capabilities across healthcare, construction, high-net-worth and hospitality sectors.

InflowCX, a Renovus Capital Partners-backed provider of contact center advisory, consulting and managed services, has acquired Atlanta-based BPO Partners to expand its contact center consulting, outsourcing and technical services capabilities. The deal is an add-on to InflowCX's platform and is intended to accelerate the combined firm's ability to serve enterprise and mid-market clients with CX, contact center technology and outsourcing strategy services.

Carisk Partners, an MBF Healthcare Partners II portfolio company, has completed the acquisition of Advanced Claims Review Specialists (ACRS), a medical cost containment firm that performs evidence-based analysis of medical bills and records. The deal expands Carisk's capabilities in hospital and medical fee negotiation and enhances its ability to manage billed charges in catastrophic workers' compensation cases.

Pinnacle Treatment Centers acquired MBA Wellness Center, an outpatient opioid addiction treatment clinic in Stockbridge, Georgia. The clinic will be rebranded as HealthQwest and expands Pinnacle's outpatient MAT footprint in Georgia, bringing the combined HealthQwest locations to six and increasing access to medication-assisted treatment in the region.

Mercer Global Advisors, Inc. (Mercer Advisors) has acquired Resource Planning Group, Ltd. (RPG), a comprehensive wealth management firm based in the Atlanta, Georgia area. The entire RPG team will join Mercer, expanding Mercer's Southeast presence and providing succession/business continuity for RPG's founders and clients (RPG manages roughly $325 million AUM across 330+ clients).

Mangrove Equity Partners, a Tampa-based lower middle-market private equity firm, has acquired Atlas Greenhouse, an Alapaha, Georgia-based manufacturer and distributor of commercial greenhouses and related accessories. Heritage Capital Group served as Atlas's exclusive financial advisor; Mangrove said it will partner with Atlas president Mark Davis to professionalize operations and support the company's next phase of growth.

Park Place Technologies has acquired the TPM and Professional Services assets (global services division) of CentricsIT, strengthening Park Place’s professional services, project management and IT lifecycle capabilities. CentricsIT will retain its server, storage and networking resale business following the asset sale; the deal enhances Park Place’s IMAC, ITAD, remote-hands and deployment service offerings and adds a professional services portal and experienced PMO staff.

Vestar Capital Partners has made a strategic growth investment in Nox Health to accelerate development of the company's sleep diagnostic technology and expand adoption of its value-based sleep management solutions among employers and health plans. Financial terms were not disclosed; the investment will support product and service development and broader market expansion.

OutSolve has acquired the affirmative action compliance business of First Advantage Consulting Firm, LLC (FACF), adding more than 100 customer relationships and expanding OutSolve’s national footprint. FACF will continue its other operations while the acquired clients gain access to OutSolve’s suite of compliance services including compensation analysis, EEO/VETS reporting, DEI, and ESG offerings.

The Riverside Company, through its portfolio company OutSolve LLC, has acquired First Advantage Consulting Firm, LLC as the first add-on to OutSolve since Riverside’s October 2022 acquisition of the platform. The deal expands OutSolve’s affirmative action and OFCCP compliance capabilities, adding scale in AAP services and enabling broader offerings in pay equity, DE&I and ESG.

Shoreline Equity Partners has partnered with Core Roofing Systems, a commercial roofing services provider headquartered in Alpharetta, Georgia. The private equity firm made a recapitalization investment to support Core Roofing’s growth plan—including organic initiatives and add-on acquisitions—while founder Dusty DeVore retains a significant ownership stake and continues to lead the company.

PCF Insurance Services, a top-20 U.S. insurance brokerage headquartered in Lehi, Utah, has acquired Voluntary Benefits at Work (VB@Work), an Atlanta-based broker specializing in voluntary employee benefits, enrollment, billing and support services. The acquisition expands PCF’s partner network and adds specialized voluntary benefits capabilities and distribution to its employee benefits offerings; terms were not disclosed.

Sightpath Medical has acquired Accusite Surgical, a mobile cataract-surgery equipment and staffing outsourcer that has supported more than 200,000 procedures across the Southeastern U.S. The deal brings Accusite's team and capabilities into Sightpath's platform (which is backed by MGG Investment Group) and adds Accusite Founder D. Lynn Godfrey to Sightpath as Chief Strategy Officer.

Funds managed by Kelso & Company completed a majority investment to acquire DEFINITION 6, a digital customer experience agency based in Atlanta and New York. DEFINITION 6 will merge with Emtec, a Kelso portfolio company, to create a global digital consultancy led by Emtec CEO Sunil Misra; D6 management will remain significant investors alongside Kelso. The transaction closed in September 2022 and financial terms were not disclosed.

Opn has acquired MerchantE, a leading end-to-end payments and commerce platform headquartered in Alpharetta, Georgia, from Integrum. The combined business processes over $19 billion in payments for more than 20,000 customers and will expand Opn's footprint into the U.S. while MerchantE retains its headquarters and brand.

Broad Sky Partners, a New York-based private equity firm, has made a strategic investment in Smith + Howard through Smith + Howard Advisory LLC. The investment will fund expansion of advisory services, geographic growth, and technology initiatives as Broad Sky builds Smith + Howard as a platform for future acquisitions and growth.

NTT DATA has signed a definitive agreement to acquire Aspirent, a data, analytics, and advisory firm headquartered in Atlanta, from majority owner Summit Park. The acquisition adds more than 230 data advisors and technologists to NTT DATA, bolstering its analytics, data engineering and advisory capabilities across partners such as Azure, AWS, Databricks and Snowflake.

CoAdvantage, a national Professional Employer Organization (PEO) based in Bradenton, Florida, has acquired Georgia-based MomentumHR, a Savannah PEO founded in 2000. The acquisition strengthens CoAdvantage’s presence in Georgia and accelerates the company's Southeast and national growth; financial terms were not disclosed.

TSG Consumer Partners and Oak Hill Capital have made a significant minority investment in The Wrench Group, a national provider of residential HVAC, plumbing, and electrical services. Existing investor Leonard Green & Partners and management retain a majority interest; the capital will be used to accelerate technology-enabled growth, expand digital capabilities, and support geographic expansion and strategic acquisitions.

Acadia Healthcare acquired four comprehensive treatment centers (CTCs) from Georgia-based Brand New Start Treatment Centers, expanding its medication-assisted treatment (MAT) footprint in the Atlanta metropolitan area. The deal increases Acadia's CTC network to 148 locations and deepens its presence in Georgia to better address opioid use disorder through combined MAT and behavioral therapy services.

SCP Health has completed the acquisition of PREMEDEX, a tech-enabled patient engagement and communications company. The deal brings PREMEDEX's multi-modal engagement platform and workflows into SCP Health to expand its value-based care and patient communication capabilities for hospitals and health systems.

Core & Main, Inc. (NYSE: CNM) has entered into a definitive agreement to acquire substantially all assets of Lanier Municipal Supply Co. Inc., a family-owned distributor of water, wastewater, storm drainage and irrigation products headquartered in Lakeland, Georgia. The acquisition expands Core & Main's footprint and resources across the southeastern U.S., adding Lanier's locations in Lakeland and Savannah, Georgia and Panama City and Lake City, Florida.

Altus Capital Partners, a U.S.-based private equity firm focused on middle-market manufacturing, has acquired Pinnacle X-Ray Solutions, LLC, a Suwanee, Georgia manufacturer of non-destructive testing (NDT) X-ray and CT systems and related inspection services. The acquisition is a new platform investment for Altus; Pinnacle's management will remain in place and financial terms were not disclosed.

US LBM has acquired Georgia Truss, an Atlanta-area manufacturer and supplier of structural roof and floor trusses. The business will operate under US LBM’s Brand Vaughan Lumber, expanding the company's truss manufacturing capacity in the greater Atlanta market to serve residential, multifamily and commercial builders.

Truelink Capital has acquired Trulite Glass & Aluminum Solutions, one of North America's largest architectural glass and aluminum fabricators, from an affiliate of Sun Capital Partners. Truelink — a newly launched middle-market private equity firm based in Los Angeles — plans to support Trulite's geographic expansion, operational optimization and growth via strategic investments and M&A while retaining the existing management team.

ARC Health, a Thurston Group portfolio company, has acquired Focus Forward Counseling & Consulting, a two-location multilingual therapy practice in the Atlanta, Georgia area. The acquisition adds FFCC's ~27 psychiatrists, psychologists and therapists to ARC Health's growing network and expands the platform's behavioral-health presence and culturally inclusive service offerings in Georgia.

Main Street Capital Corporation completed a $31.3 million portfolio investment in MetalForming, LLC to support a recapitalization of the company. The financing, provided as a combination of first‑lien senior secured term debt and a direct equity investment (plus a revolving credit facility), was made alongside an unnamed co‑investor and a private investment group with participation from MetalForming's management and founder to provide growth capital and working capital support.

QHP Capital, the management company for NovaQuest Private Equity, has acquired AutoCruitment, a digital patient recruitment platform that helps pharma, biotech and CROs identify, screen and recruit patients for clinical trials. Monroe Capital provided a senior credit facility to support the acquisition, and QHP says the investment will support continued growth and capability expansion of AutoCruitment's digital patient recruitment offerings.

Docufree has acquired DealerDOCX, a cloud-based document-intelligence and management provider serving automotive dealerships, to expand its digital-transformation and SaaS offerings in the automotive market. The deal adds DealerDOCX's patented audit-compliance analytics, integrations with major dealer management systems, and a ~350-customer recurring revenue base to Docufree's enterprise information management platform.

Banyan Software, a permanent-capital acquirer of niche enterprise software businesses, has acquired Innovatum, a life-sciences-focused labeling software and consulting company. The acquisition brings Innovatum’s ROBAR enterprise label management and regulatory data capabilities into Banyan’s portfolio to accelerate product development and support global life sciences customers.

FTV Capital led a $110 million growth equity investment in ConnexPay to support the payments technology company's international expansion and product enhancements. The funding will help ConnexPay extend its unified acquiring-and-issuing payments platform into new geographies and verticals, with FTV taking a board seat and previous investors also participating.

Lead Edge Capital has made a strategic growth investment in Revenue Analytics, a cloud-native pricing and revenue management SaaS provider based in Atlanta. The capital will support product innovation, go-to-market expansion, and continued scaling of Revenue Analytics' pricing solutions across travel & hospitality, media, and manufacturing/distribution sectors.

The Next Practices Group (NPG) announced that Content Science, the Atlanta-based content intelligence and strategy firm founded by Colleen Jones, is joining NPG's network of companies. The deal brings Content Science's content strategy, analytics and ContentWRX product into NPG's capabilities to expand its marketing, analytics and digital content offerings.

Alera Group, a national insurance and wealth services firm, has acquired NPC Benefits, an Atlanta-based specialty insurance consulting firm focused on personal income and supplemental disability insurance. The NPC Benefits team will remain in place and continue serving clients; financial terms were not disclosed.

Choice Financial Group has partnered with Georgia Pines Agency, LLC to expand its insurance platform into Florida, Georgia and California. The transaction (which closed August 1, 2022) adds GPA’s 12 branch locations and ~65 team members to Choice’s PE-backed platform (Choice is backed by Northlane Capital Partners) and represents Choice’s tenth acquisition since teaming with Northlane in October 2021.

Stamford-based private equity firm Olympus Partners has agreed to acquire EyeSouth Partners, an Atlanta-headquartered ophthalmology management services organization, from Shore Capital Partners. EyeSouth — which grew under Shore from a small regional practice to a network of over 270 doctors and 155 locations across 11 states — will continue to have physician investors alongside Olympus as it pursues further expansion.

Level 5 Capital Partners has committed $20 million of growth capital to GoDog to fund the rollout of a franchising platform and accelerate the pet services company's national expansion. Level 5 will also build an affiliated franchisee platform (L5 Pups) and serve as an anchor franchise partner as GoDog scales beyond its existing locations in the Southeastern United States.

Clearlake Capital and VictoryLive (led by Sam Soni) acquired Ticket Evolution, an end-to-end ticketing software provider, in an add-on transaction to the VictoryLive platform. The acquisition — terms not disclosed — adds Ticket Evolution's B2B marketplace, SaaS fulfillment platform, and pricing-intelligence capabilities to VictoryLive to enhance offerings for rightsholders, resellers, and event managers.

Aptean, a provider of industry-specific ERP and supply chain software headquartered in Alpharetta, Georgia, has received a strategic growth investment from Insight Partners and existing investor TA Associates, with TA becoming the lead shareholder. Charlesbank remains a shareholder while Vista Equity Partners fully exited its stake; the investment is intended to accelerate Aptean's cloud SaaS innovation and global expansion.

Russell A. Farrow (U.S.) Inc. purchased a majority interest in DJ Powers Co. Inc., a Savannah, Georgia-based customs brokerage and freight forwarder, effective August 31, 2022. The deal gives Farrow expanded coverage along the lower U.S. eastern seaboard and international footprint, while DJ Powers' leadership (Rhett Willis and Eric Bakker) remain as minority shareholders and continue in their roles.