Acquisitions in Georgia in 2023

Atlanta-based private equity firm Grove Mountain Partners launched Service Country LLC, a home‑services platform, and completed the acquisition/partnership with McGee Heating and Air, a residential HVAC provider operating five locations in Georgia and South Carolina. McGee’s management, led by President Robert Kesler, will remain with significant equity; the platform will provide shared marketing, technology, training, and procurement support to drive growth across the Southeastern US.

Wealth Enhancement Group announced the acquisition of Foundational Wealth Advisory, LLC, a hybrid registered investment advisor based in Macon, Georgia, led by Eric S. Wilson. The deal expands Wealth Enhancement Group’s national footprint and advisory team as it continues to grow its network of independent wealth management practices.

Georgia Oak Partners has acquired Septic Blue, a residential septic services provider operating in the Atlanta, Charlotte and Raleigh metro areas. Source Capital, via Source Capital Credit Opportunities IV, provided debt financing and an equity co-investment to support the transaction; Septic Blue founder Bob Minkert will remain involved for a transition period.

FirstService Corporation has acquired a significant controlling interest in Roofing Corp of America from Soundcore Capital Partners; the transaction closed on December 15, 2023. The purchase price is US$413 million, funded with cash and borrowings, with Roofing Corp management (including CEO Randy Korach) retaining the balance of the equity and continuing to run the business. Headquartered in Atlanta, Roofing Corp operates 16 regional branches across 11 U.S. states, employs more than 900 people, and generates approximately US$400 million in annual revenue.

Modigent has acquired Tebarco Mechanical, an Atlanta-area mechanical contracting and engineering firm founded in 1983, to expand Modigent’s national footprint and integrate Tebarco’s engineering, design-build, VDC and service capabilities. The deal brings Tebarco’s team into Modigent’s portfolio of HVAC, plumbing and controls businesses and aims to scale Tebarco’s operations nationally.

CINC Systems, a Duluth, Georgia–based provider of cloud-based accounting, banking integration and payments software for the community association management industry, has secured a strategic growth investment from Hg. The investment will see Hg join CINC's founder, management team and existing investor Spectrum Equity to accelerate product innovation, go-to-market expansion and continued growth following strong 2023 performance.

U.S. Waterproofing, a Rotunda Capital Partners portfolio company, has acquired Engineered Solutions of Georgia (ESOG), a Smyrna, Georgia-based provider of residential foundation repair, basement waterproofing and crawl space encapsulation. The add-on expands U.S. Waterproofing's Southeast footprint and foundation-repair capabilities; ESOG founders Jay Eastland and Luis Cuevas will continue to oversee the business.

Veranex has acquired T3 Labs, a preclinical laboratory based in Atlanta, Georgia. The acquisition expands Veranex's preclinical footprint in North America and deepens its medical‑device testing and therapeutic expertise to provide more integrated services to medtech clients.

Oliver Wyman, a business of Marsh McLennan, has agreed to acquire SeaTec Consulting Inc., a provider of consulting, engineering, and digital services for the aviation, aerospace & defense, and transportation industries. SeaTec will integrate with Oliver Wyman's CAVOK aviation division to expand technical services and scale aviation, aerospace, and defense consulting capabilities globally; the transaction is expected to close in Q1 2024.

Kept Companies, the parent of nine facility maintenance brands, has acquired EcoSweep, a specialist in eco-friendly commercial parking facility cleaning and maintenance. The acquisition adds EcoSweep's low-water pressure washing, sweeping and parking lot striping capabilities to Kept's portfolio to expand its sustainable facility maintenance services and geographic footprint.

Merit Financial Advisors has acquired ClearBridge Wealth Management, an Atlanta-based wealth advisory firm led by founder Preston Byers, adding approximately $300 million of client assets. The deal expands Merit's presence in the Atlanta market and brings Preston Byers and his operations and client support team into Merit as partners and advisors.

CAMP Construction Services, a Sterling Investment Partners portfolio company, has acquired Finite Reimaging, a Duluth, Georgia-based provider of renovation and maintenance services serving hospitality, retail and multifamily customers. The add-on expands CAMP's Southeast presence and hospitality capabilities while enabling Finite to access CAMP's broader service offerings and national infrastructure.

Yes Energy has acquired Anchor Power Solutions, the developer of EnCompass power market forecasting and resource-planning software. The deal brings Anchor Power’s modeling capabilities into Yes Energy’s data and analytics platform to expand long-term power market modeling, transmission and decarbonization planning tools for utilities, developers and market participants.

CoolSys, a national provider of refrigeration, HVAC, energy, and engineering solutions, has acquired Georgia Air Solutions, a Jackson, Georgia-based commercial refrigeration and HVAC service provider. The acquisition expands CoolSys's market density and service offerings in Georgia, adding local installation, repair, and maintenance capabilities for grocery, retail, education, and commercial customers.

Caerus Equity Partners, a lower-middle-market private equity firm based in Atlanta, acquired C&L Cylinder and Machine, a Rome, Georgia-based provider of machining, welding, grinding, repair, and manufacturing services. The founder, Eddie Terry, is exiting and will collaborate with Caerus' founder Ben Eugrin as the firm seeks to grow the business and expand services for existing and new customers.

EagleTree Capital has acquired Summit Hill Foods, the Rome, Georgia–based owner of Better Than Bouillon and The Original Louisiana Hot Sauce, with several fund investors co-investing including Misland Capital Limited. The Summit Hill Foods management team and operations will remain in place; the seller is G&L Holdings (the family-owned parent), and terms were not disclosed.

New State Capital Partners has acquired Agility Recovery Services as an add-on to its AFIMAC business continuity platform. Agility, headquartered in Atlanta, provides subscription-based business continuity and disaster recovery services (backup power, temporary office space, network connectivity and mission-critical equipment); terms were not disclosed and Mark San Fratello was named CEO.

Waste Eliminator LLC, a Metro‑Atlanta waste and recycling services platform backed by Allied Industrial Partners, has acquired North Georgia Roll Off to expand waste handling assets and recycling capabilities in the Northeast Atlanta market. The acquisition—Waste Eliminator’s fourth since Allied’s investment in November 2021—will concentrate assets near existing infrastructure to increase margins and grow the customer base.

The Home Depot has entered into a definitive agreement to acquire International Designs Group (IDG) from Mill Point Capital. IDG is a Decatur, Georgia–based distributor and custom fabricator of surfaces, appliances and specialty products serving professional customers across renovation, remodeling, new construction and multi-family markets.

AGI International, Inc. acquired American Material Services, Inc., a Macon, Georgia-based provider of dry-bulk and liquid-bulk transportation services. The transaction closed on November 17, 2023 and gives AGI a stronger presence in the Georgia and North Florida markets while expanding its transportation and supply chain capabilities.

Gilat Satellite Networks Ltd. has completed the acquisition of DataPath, Inc., a U.S.-based provider of secure communications and satellite systems for the U.S. Department of Defense and other government customers. The deal, approved by both companies' boards and cleared by CFIUS, is intended to expand Gilat's presence in the defense market and create cross-selling and technology-integration synergies between the companies' satellite communications offerings.

Atlanta-based digital marketing agency Marketwake has acquired Punchlist, a no-code, visual-first feedback management tool. The acquisition aims to integrate Punchlist's collaboration and creative-feedback capabilities into Marketwake's service offering to improve workflows for clients and scale the product under Marketwake's guidance.

Greater Sum Ventures (GSV) has made a majority investment in Utility Associates, Inc., a Decatur, Georgia–based provider of digital evidence management, body-worn and in‑car video systems for law enforcement and first responders. Prior backer Hicks Holdings LLC will remain a minority investor and PSG Equity joins as a new minority investor; the capital will be used to accelerate product innovation and growth.

Denver-headquartered Galloway & Company, Inc. has acquired Atlanta-based Studio for Housing Design and its subsidiary Pucciano & Associates to expand Galloway's housing design capabilities and regional presence in the southeastern United States. The acquisition (effective Nov. 10, 2023) brings Studio for Housing Design's multifamily, military, student and HUD housing expertise into Galloway's multidisciplinary architecture and engineering platform; Studio staff will continue operating under the Galloway name.

RIGUPATL, an Oakley Services portfolio company, has acquired Georgia Rigging, a long-established Atlanta-based crane, rigging and machinery moving services firm. The deal retains Georgia Rigging's co-founders as equity partners and staff while expanding RIGUPATL's footprint and capabilities across the Southern U.S. as part of Oakley Services' industrial services platform strategy.

Atlanta-based Chicken Salad Chick has acquired Piece of Cake, an iconic local bakery, to expand and standardize its dessert offering across the chain's ~245 restaurants in 18 states. Piece of Cake's ten metro-Atlanta locations (including the airport) will continue operating as usual, founder Melissa Jernigan will remain involved, and roughly 120 Atlanta-area employees will retain their positions.

ARC Health, a portfolio company of Thurston Group, has acquired GROW Counseling and its GROW Counseling Network, expanding ARC Health’s mental health practice footprint across the Atlanta metro area and extending its employer-facing network across the United States and Canada. The deal was facilitated by healthcare M&A advisor Mertz Taggart and strengthens ARC Health’s provider network and employer mental-health capabilities.

SAM Companies, a leading provider of geospatial and inspection solutions headquartered in Austin, Texas, has acquired Wellston Associates Land Surveyors, a full-service geomatics firm based in Warner Robins, Georgia. The acquisition expands SAM's capabilities in boundary, topographic, stakeout and digital mapping services and strengthens its presence in Georgia and the broader Southeastern United States.

Motion & Control Enterprises (MCE), a Frontenac‑backed industrial distributor and service platform, acquired Buford, Georgia‑based Applied Industrial Controls, Inc. (AIC) and Engineered Systems Group, LLC (ESG). The add‑on acquisitions expand MCE’s automation, controls distribution, and systems integration capabilities and provide entry into southeastern U.S. industrial and water/wastewater end markets.

Super-Sod, a vertically-integrated turfgrass and compost company headquartered in Charleston, South Carolina, acquired All Green Outdoor Center in North Georgia (closing announced November 1, 2023). The purchase expands Super-Sod’s retail footprint in North Georgia and enables the company to offer its full product line — including Bermuda, Tall Fescue and Zoysia sod, Soil3 compost and expanded stone/hardscape inventory — to local landscapers and homeowners.

Bulk Express Transport, a portfolio company of Alterna Equity Partners, has acquired Attaway Hauling and Choice Bulk Carriers. The acquisition expands Bulk Express's footprint and service offering across the Southeastern United States, combining transfer station management, long-haul waste transportation and bulk materials hauling; the combined businesses operate roughly 200 trucks and ~200 employees.

Sheridan Capital Partners has formed Ascend Plastic Surgery Partners, a physician practice management MSO focused on plastic surgery and aesthetics, by investing alongside surgeons and management. Ascend, headquartered in Atlanta, Georgia, combines five plastic surgery practices and two standalone MedSpas and will provide services across Alabama, New Mexico, South Carolina, and Utah; financial terms were not disclosed.

Blue Star Innovation Partners (BSIP) has made a strategic growth investment in OfficeRnD, a provider of coworking and hybrid work SaaS. The capital and BSIP's operational, software and integrated-payments expertise will be used to accelerate OfficeRnD's product offering and expand its reach—including into North America.

Aruza Pest Control Holdings, a Concentric Equity Partners portfolio company, has acquired the Texas and South Carolina operations of Anthem Pest Control — specifically the Houston, Dallas and Greenville branches. The add-on expands Aruza into the Texas market and increases density in Greenville, SC; all branch-level employees will remain with the business post-close.

United Dental Corporation (UDC), a Miami‑based dental service organization, acquired Georgia prosthodontics practice Hal N. Arnold, DMD, MS (Esthetic & Implant Dentistry). The acquisition expands UDC’s presence in Georgia to three practices and is the thirteenth practice acquisition since UDC began its acquisition strategy in October 2022; terms were not disclosed.

Aurora Payments has acquired VN Systems (Iso1st LLC, DBA VN Systems), a Georgia-based merchant services provider and ISO that serves Vietnamese-owned nail salons and other SMBs. The deal adds immediate scale to Aurora and its NailSoft salon-management platform, expanding distribution and integrated payments/software capabilities; 733Park advised VN Systems on the transaction.

Southeast Mechanical (SEM), a Palladin-backed HVAC, plumbing and electrical services platform, has acquired Guyton, Georgia-based Total Services HVAC and Appliances Company, LLC, marking SEM’s first expansion into the Georgia market. The business was built by Travis and Lisa Stephens, who will continue partnering with SEM as the company expands its residential and commercial HVAC and appliance service footprint in the Southeast.

Platinum Equity has signed a definitive agreement to acquire a co-controlling stake in US LBM from existing investor Bain Capital Private Equity, with Bain and Platinum holding equal ownership and joint board governance. US LBM will remain led by founder and CEO L.T. Gibson and will continue pursuing national expansion and strategic acquisitions to grow its specialty building materials distribution platform; financial terms were not disclosed.

Arcis Golf has acquired Champions Retreat Golf Club, a 27-hole private club near Augusta, Georgia; the transaction closed Oct. 12, 2023 and Arcis assumed operations on Oct. 13. The property, previously owned by Bill Forrest, hosts the first two rounds of the Augusta National Women’s Amateur and expands Arcis Golf’s portfolio into Georgia as it grows its collection of private, resort and daily-fee clubs.

IMA Financial Group announced a strategic partnership that brings The Benefit Company (TBC) and The Bottoms Group (TBG) into the IMA family effective Oct. 1, 2023. The two Georgia-based employee benefits brokerages — which together employ 34 associates and will retain their leadership and offices — will expand IMA's employee benefits capabilities and deepen its presence in the Southeastern United States.

Solenis, a Wilmington, Delaware-based specialty chemicals producer owned by Platinum Equity, acquired CedarChem LLC and its operating assets on October 2, 2023. CedarChem, headquartered in Cedartown, Georgia, supplies water and wastewater treatment products to industrial and municipal customers in the southeastern United States; the deal expands Solenis' product and service capabilities and regional go-to-market presence.

Tree Guardians, a tree and plant healthcare platform founded by Halle Capital, has partnered with Caldwell Tree Care to add the Atlanta-area provider to its platform. Kevin Caldwell will join Tree Guardians as President of the Southeast Region and continue to operate the business as part of the PE-backed platform.

Yes Energy announced on October 3, 2023 that it has acquired The C Three Group, a provider of North American energy infrastructure market intelligence and project databases. The acquisition integrates C Three's infrastructure project datasets and forecasting capabilities into Yes Energy's power market data and analytics platform to give customers deeper visibility into generation, transmission, and interconnection project status and impacts on power markets.

Plexus Capital has acquired a majority interest in National Boiler Service (NBS), a Trenton, Georgia–based provider of boiler maintenance, repair and installation services serving pulp & paper, chemical, power generation and utility end markets. Plexus plans to support NBS’s growth — expanding customers and complementary services organically and via strategic acquisitions.

Balance Point Capital provided a follow-on equity investment in ABTB Mid-Atlantic Holding Company, LLC to support the acquisition of 39 Taco Bell restaurants in the Greater Atlanta metro. The stores will be operated by experienced QSR operator SWN LLC (Southpaw), which currently runs 180+ Taco Bell and Dunkin' locations and partners with Balance Point to expand its footprint.

Air Conditioning Specialist, Inc. (ACS), a portfolio company of Hidden Harbor Capital Partners, has acquired Total Comfort Cooling & Heating, a Macon, Georgia-based provider of residential and light commercial HVAC services. The acquisition is an add-on to ACS's platform to expand its footprint in the Southeast U.S.

Audax Private Equity has partnered with Oakbridge's management team to acquire a majority stake in Oakbridge Insurance Agency LLC from Corsair Capital; terms were not disclosed. Audax said it will support Oakbridge's buy-and-build strategy to accelerate growth across the Southeast while Oakbridge's management and employees retain a significant ownership position.

CIVC Partners-backed YOUNG & Associates (YA) has acquired IN-Line Consulting, LLC, a Southeast-focused construction and claims consulting firm. IN-Line will operate as a subsidiary of YA with its existing leadership and staff retained; the acquisition expands YA's technical capabilities and strengthens its footprint in the Southeast United States.

Frazier Healthcare Partners has acquired Vatica Health, a provider‑centric risk adjustment and value‑based care services company headquartered in Alpharetta, Georgia. TripleTree served as financial advisor to Vatica; terms were not disclosed. The deal expands Frazier’s exposure to risk adjustment, clinical documentation and value‑based care capabilities.

Simplicity Group Holdings, Inc. has acquired The Dempsey Companies, a nationally recognized insurance brokerage comprised of Dempsey Associates and Dempsey Financial Network. Kay Dempsey and her team will join Simplicity as partners, enhancing Simplicity's life insurance distribution capabilities and expanding resources for financial advisors serving high-net-worth clients.