Acquisitions in Illinois

Tracked deals

1885

1885 tracked deals across 2000-2026.

Buyer mix

Mixed buyer set

1409 strategic · 1030 pe

Top trend

Volume peaked in 2021

320 tracked deals announced in 2021.

Buyer Snapshot

Top Buyers

Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.

Find buyers active in Illinois →
Buyer # Deals Focus Type
H.I.G. Capital 12 Global private investment firm providing equity and debt ... PE
Audax Private Equity 9 Middle-market private equity firm focused on growth-orien... PE
Wind Point Partners 9 Chicago-based private equity firm that partners with foun... PE
Arthur J. Gallagher & Co. 8 Global insurance brokerage, risk management and consultin... Strategic
Gryphon Investors 8 Middle-market private equity firm focused on building and... PE
Mill Point Capital LLC 8 Middle-market private equity firm focused on control-orie... PE
New Mountain Capital 8 Growth-oriented investment firm investing across private ... PE
Thoma Bravo 8 Private equity firm focused on software and technology-en... PE
Hub International Limited 7 Global insurance brokerage and financial services firm pr... Strategic (PE-backed)
Shore Capital Partners 7 Chicago-based private equity firm that invests in lower-m... PE

Acquisition Volume in in Illinois by Year

Last 10 years

Acquisition volume by year Annual acquisition counts for the last 10 years for Acquisitions in Illinois. 4 2017 16 2018 112 2019 181 2020 320 2021 315 2022 239 2023 276 2024 273 2025 ~253 est. 131 2026
Actual Full-year estimate

Supporting Data

Recent Transactions

  • Buyer
    National Holding Company
    Target
    Moving.com, MoveAI
    Seller
    Move, Inc.
    Industry
    Transportation
    Type
    Buyout

    National Holding Company announced it has acquired Moving.com, an online moving marketplace, and MoveAI, an AI-powered moving concierge technology. The company plans to use the combined assets to build a technology-enabled consumer moving platform that streamlines planning, vendor selection, and move coordination.

  • Buyer
    Simplicity Group
    Target
    Benefit Planning, Inc.
    Industry
    Insurance
    Type
    Buyout

    Simplicity Group announced the acquisition of Benefit Planning, Inc. (BPI), a Chicago-based insurance agency serving high-net-worth and ultra-high-net-worth clients. The deal expands Simplicity’s capabilities in large-case protection strategies, and BPI founder Bob Muzikowski becomes Simplicity’s newest Partner.

  • Buyer
    Platinum Equity
    Target
    Tangent Technologies
    Seller
    The Sterling Group
    Industry
    Manufacturing
    Type
    Buyout

    The Sterling Group entered into a definitive agreement to sell Tangent Technologies to Platinum Equity. The transaction is expected to close in the third quarter of 2026, and financial terms were not disclosed.

  • Buyer
    Model N
    Target
    Kalderos
    Type
    Buyout

    Model N announced it has acquired Kalderos, a technology company that provides a gross-to-net intelligence platform for visibility into the 340B drug discount program. The acquisition is intended to expand Model N’s revenue management capabilities and strengthen its 340B offerings for pharmaceutical manufacturers through Kalderos’ Truzo platform.

  • Buyer
    C.H. Robinson
    Target
    DeSpir Logistics
    Industry
    Transportation
    Type
    Buyout

    C.H. Robinson (NASDAQ: CHRW) announced it has acquired DeSpir Logistics, a specialized provider of secure transportation and cargo escort services for mission-critical, high-value freight across North America, for approximately $75 million in cash. The acquisition closed and is expected to be slightly accretive in 2026 as C.H. Robinson expands premium, security- and compliance-focused logistics capabilities using its Lean AI approach.

  • Buyer
    Europastry
    Target
    Highland Baking Company
    Industry
    Food & Beverage
    Type
    Buyout

    Europastry has reached an agreement to acquire Highland Baking Company, a family-owned U.S. producer of premium breads for the foodservice channel. The transaction strengthens Europastry’s North American presence and is expected to close in the second half of 2026, subject to customary regulatory approvals and closing conditions.

  • Buyer
    Ridgeline Roofing & Restoration, Bertram Capital
    Target
    Freedom Roofing & Construction
    Seller
    Kurt Kiser
    Type
    Addon

    Ridgeline Roofing & Restoration has acquired Freedom Roofing & Construction, a Champaign, Illinois-area provider of roofing and exterior services. The deal is Ridgeline’s seventh acquisition, and terms were not disclosed.

  • Buyer
    Mode.Inc
    Target
    Trimbox, QR Code Reader
    Industry
    Cloud & SaaS
    Type
    Addon

    Mode.Inc announced the acquisition of Trimbox (an email inbox management app) and QR Code Reader (a utility app) to expand its EarnOS-powered AI data network. The deals add low eight figures in annual revenue and are intended to scale Mode’s EarnOS monetization and permission-based, consented behavioral data supply across a portfolio exceeding 100 million monthly active users.

  • Buyer
    Generac Holdings
    Target
    Belvidere, Illinois manufacturing facility (generator enclosure assembly and packaging site)
    Type
    Buyout

    Generac Holdings announced the acquisition of a new manufacturing facility in Belvidere, Illinois to expand capacity for large-megawatt generator packaging and enclosure assembly. The company said the Belvidere site complements capabilities gained from its earlier acquisition of Enercon Engineering and is expected to create more than 100 jobs when operations begin in Q1 2027.

  • Buyer
    Relativity
    Target
    Gavel
    Seller
    Dorna Moini
    Type
    Buyout

    Relativity has acquired Gavel, an AI-native legal technology company used by legal professionals to draft, review, and automate work product directly in Microsoft Word and via web applications. The integration is intended to extend Relativity’s legal data intelligence platform (RelativityOne and Relativity aiR) into Microsoft Word, synchronizing edits back to the matter in RelativityOne.

  • Buyer
    PartsSource
    Target
    SkillNet
    Type
    Buyout

    PartsSource announced its acquisition of SkillNet, a workforce intelligence platform for healthcare technology management (HTM) that provides hospitals and health systems real-time visibility into technician competencies and team capabilities. The deal expands PartsSource’s Enterprise Clinical Technology platform by adding workforce intelligence to improve clinical capacity and help organizations close technician skill gaps.

  • Buyer
    FlavorSum, Warburg Pincus
    Target
    Beverage Flavors International (BFI)
    Industry
    Food & Beverage
    Type
    Addon

    FlavorSum, a North American flavor solutions provider backed by Warburg Pincus, has acquired Beverage Flavors International (BFI), a U.S.-based manufacturer of proprietary beverage flavor bases and sweetener solutions. The deal adds BFI’s end-to-end beverage flavor base capabilities to FlavorSum’s platform, and operations are expected to continue at BFI’s Chicago facility after closing.

  • Buyer
    SGS
    Target
    CMIC, INC.
    Seller
    CMIC HOLDINGS Co., Ltd.
    Type
    Buyout

    SGS, a testing, inspection and certification company, has acquired CMIC, INC., a Chicago-based provider of bioanalytical testing services. The deal expands SGS’s North American capabilities for supporting pharmaceutical and biotech manufacturers across pre-clinical and clinical phases, including complex modalities such as biologics, gene therapies and oligonucleotides. Financial terms were not disclosed.

  • Buyer
    Architect Financial Technologies Inc.
    Target
    IMX Health LLC
    Type
    Buyout

    Architect Financial Technologies Inc. acquired IMX Health LLC, a U.S. Designated Contract Market (DCM). Following the acquisition, Architect plans to launch the American Innovation Exchange (“AI Exchange”), a CFTC-regulated futures and options exchange focused on compute costs and other AI supply-chain inputs, subject to regulatory review.

  • Buyer
    MCE, Frontenac
    Target
    Tripp Electric Motors
    Type
    Addon

    MCE, a Cleveland-based industrial motor repair and equipment services platform backed by Frontenac, acquired Tripp Electric Motors, a Chicago-area motor repair specialist serving manufacturers across northern Illinois. Terms were not disclosed, and the deal adds a second Chicago-area location while deepening MCE’s penetration across the industrial corridor from Rockford through Aurora to Gary, Indiana.

  • Buyer
    Strategic buyer (name not disclosed)
    Target
    Ironform Holdings Co.
    Seller
    Wynnchurch Capital
    Industry
    Manufacturing
    Type
    Buyout

    Wynnchurch Capital announced the sale of Ironform Holdings Co. to a strategic buyer. The transaction marks the culmination of Wynnchurch’s multi-year operational and commercial transformation of Ironform, positioning it as a heavy-equipment metal-fabrication platform with strong delivery and quality.

  • Buyer
    Integrated Home Care Services
    Target
    Dina Care
    Type
    Buyout

    Integrated Home Care Services announced its acquisition of Dina Care, an AI-enabled care coordination and referral management platform. The combined platform is intended to expand Integrated’s in-home benefit management capabilities by pairing its utilization management, provider network, referral management and fulfillment expertise with Dina’s AI-driven workflow automation and digital workforce tools.

  • Buyer
    Sun Auto Tire & Service
    Target
    Main Street Tire & Auto
    Industry
    Transportation
    Type
    Addon

    Sun Auto Tire & Service acquired the Main Street Tire & Auto location in Virden, Illinois. The store will rebrand and operate as Plaza Tire Service as part of the Sun Auto Network, expanding the network’s Illinois footprint.

  • Buyer
    Coleman Automotive Group
    Target
    McGrath Nissan
    Seller
    Scott McGrath
    Industry
    Retail
    Type
    Buyout

    Coleman Automotive Group acquired McGrath Nissan in Elgin, Illinois from Scott McGrath. The dealership will be renamed Nissan of Elgin and remain at its current location, marking Coleman Automotive Group’s seventh dealership acquisition and third Nissan franchise.

  • Buyer
    Global Water Technology, Inc.
    Target
    Enerstar, Inc.
    Industry
    IT Services
    Type
    Buyout

    Global Water Technology, Inc. (GWT) announced it is acquiring Enerstar, Inc., a technically driven water and energy services firm based in Elmhurst, Illinois. The deal is designed to integrate Enerstar’s proprietary field enablement platform, related intellectual property, and team into GWT’s national Water & Energy Services platform to improve technical consistency and scalable field execution.

  • Buyer
    Zydus Worldwide DMCC, Zydus Lifesciences Limited, Zara Merger Sub Inc.
    Target
    Assertio Holdings, Inc.
    Industry
    Biotechnology
    Type
    Buyout

    Zydus Worldwide DMCC, a subsidiary of Zydus Lifesciences Limited, has entered into a definitive agreement to acquire all outstanding shares of Assertio Holdings, Inc. for $23.50 per share in cash, valuing the deal at approximately $166.4 million. The transaction is structured as a tender offer followed by a second-step merger at the same price and is expected to close in the second quarter of 2026 (2026–27 financial year in some reports), subject to customary conditions.

  • Buyer
    The Sports Facilities Companies (SFC)
    Target
    Power Wellness
    Type
    Buyout

    The Sports Facilities Companies (SFC) has acquired Power Wellness, the nation’s largest fitness center management company, to expand SFC’s integrated community health, recreation, fitness, and wellness platform. Power Wellness will continue operating under its existing brand as “Power Wellness by The Sports Facilities Companies,” with Ken Gorman remaining president and CEO as integration occurs over coming months.

  • Buyer
    Rexel
    Target
    Revere Electrical Supply
    Industry
    IT Services
    Type
    Buyout

    Rexel has signed a definitive agreement to acquire Revere Electrical Supply, an Illinois-based industrial automation distributor and authorized Rockwell Automation reseller. The acquisition expands Rexel’s Midwest footprint (Illinois and Wisconsin) and is expected to be immediately accretive, creating value by the third year.

  • Buyer
    Brookfield Bancshares, Inc., First National Bank of Brookfield
    Target
    NSTS Bancorp, Inc., North Shore Trust and Savings
    Type
    Buyout

    Brookfield Bancshares, Inc. (holding company for First National Bank of Brookfield) and First National Bank of Brookfield announced the signing of a definitive merger agreement to acquire NSTS Bancorp, Inc. (NASDAQ: NSTS) and its subsidiary North Shore Trust and Savings. The deal is an all-cash transaction valued at approximately $73.7 million, with NSTS stockholders receiving about $14.28 per share. The transaction is anticipated to close in the fourth quarter of 2026, subject to regulatory and stockholder approvals.

  • Buyer
    Prime Healthcare
    Target
    Franciscan Health Olympia Fields
    Type
    Buyout

    Prime Healthcare has completed its acquisition of Franciscan Health Olympia Fields after unanimous approval by the Illinois Health Facilities and Services Review Board. Prime said the purchase expands its presence in the Chicago area and includes commitments tied to service-line expansions, community investment, and continued participation in the 340B program via the Prime Healthcare Foundation.

  • Buyer
    Telephone and Data Systems, Inc. (TDS)
    Target
    Array Digital Infrastructure, Inc.
    Industry
    IT Services
    Type
    Buyout

    Telephone and Data Systems, Inc. (TDS) submitted a proposal to acquire all outstanding shares of Array Digital Infrastructure, Inc. (Array) not already owned by TDS in an all-stock merger. Under the proposal, Array shares would be exchanged for 0.86 shares of TDS each, subject to negotiation of definitive documents and customary approvals.

  • Buyer
    William Blair
    Target
    Inner Circle Sports
    Type
    Buyout

    William Blair has entered into a definitive agreement to acquire Inner Circle Sports, a boutique investment bank focused on sports, media, and entertainment. Financial terms were not disclosed, and the deal is subject to customary closing conditions and regulatory approvals. Inner Circle Sports will continue operating under its existing brand for a period after the acquisition.

  • Buyer
    TurningArt
    Target
    H. Marion Art Consulting
    Type
    Addon

    TurningArt, a national full-service art consulting firm, acquired H. Marion Art Consulting, a Chicago-area firm specializing in healthcare-focused art programming. H. Marion will continue to operate independently while gaining access to TurningArt’s network, national fabrication/installation partners, and tech-enabled platform to support multi-location scale and rotation programs.

  • Buyer
    Invesco Senior Secured Management, Inc., Fortress Investment Group (affiliates)
    Target
    Empire Today, LLC
    Industry
    Retail

    Empire Today, LLC has received a new equity investment from an investment group led by funds managed by Invesco Senior Secured Management and funds managed by affiliates of Fortress Investment Group. The equity infusion is part of a broader transaction aimed at solidifying Empire’s balance sheet, and Invesco and Fortress now own the majority of the company’s equity.

  • Buyer
    Mesirow
    Target
    LeafHouse Financial Advisors, LeafHouse Financial Group (division: LeafHouse Financial Advisors), LeafHouse Financial Services (technology side; separate but tied via strategic investment)
    Seller
    LeafHouse Financial Group, Founders Advisors (sell-side financial advisor to LeafHouse)
    Type
    Buyout

    Mesirow has entered into an agreement to acquire LeafHouse Financial Advisors, a division of LeafHouse Financial Group, to expand Mesirow Fiduciary Solutions. The combined platform is expected to oversee approximately $138 billion in assets under management and advisement after closing, targeted for Q3 2026.

  • Buyer
    COEO Solutions
    Target
    S-NET Communications, Inc.
    Industry
    IT Services
    Type
    Addon

    COEO Solutions, a Riata Capital Group portfolio company, acquired S-NET Communications to expand its managed network, cloud communications, and managed IT platform for multi-location mid-market enterprises. The deal adds S-NET’s AI-powered contact center platform and deep vertical expertise in hospitality, QSR/franchise, and healthcare. Financial terms were not disclosed.

  • Buyer
    Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd.
    Target
    Emalex Biosciences
    Seller
    Emalex shareholders, Paragon Biosciences (founded Emalex; referenced as creator/funder)
    Type
    Buyout

    Teva Pharmaceuticals (a U.S. affiliate of Teva Pharmaceutical Industries) signed a definitive agreement to acquire Emalex Biosciences to add ecopipam, an NDA-ready first-in-class investigational therapy for pediatric Tourette syndrome, to its neuroscience pipeline. The deal provides $700 million upfront and up to an additional $200 million in commercial milestone payments plus net sales-based royalties, subject to regulatory approval, with expected closing by Q3 2026.

  • Buyer
    1520ai, simPAL Solutions family
    Target
    Hospice Analytics
    Type
    Addon

    1520ai announced it will integrate Hospice Analytics into the broader simPAL Solutions family, combining Hospice Analytics’ hospice data expertise with 1520ai’s hospice-native AI development capabilities. Hospice Analytics will retain its core branding, products, and services, with founder Cordt Kassner continuing to lead operations.

  • Buyer
    Main Street Capital Corporation
    Target
    Shift Transit, LLC, Shift Transit Inc.
    Seller
    Shift Transit's founders and existing owners
    Industry
    Transportation

    Main Street Capital Corporation completed a $40.0 million minority recapitalization of Shift Transit, LLC and Shift Transit Inc. The financing combines first lien, senior secured term debt and a direct minority equity investment alongside Shift Transit's founders and existing owners.

  • Buyer
    KKR
    Target
    Crowe LLP
    Type
    Buyout

    KKR is in advanced talks and has entered an exclusivity period to acquire Crowe LLP for $2.5 billion to $3.0 billion, according to sources. The deal would be supported by discussions with private lenders to raise about $1 billion in debt financing.

  • Buyer
    Shrieve Chemical Company, Gemspring Capital
    Target
    Vertec BioSolvents
    Type
    Buyout

    Shrieve Chemical Company, a Gemspring Capital portfolio company, acquired Vertec BioSolvents, a manufacturer of bio-based solvents headquartered in West Chicago, Illinois. The companies said the acquisition expands Shrieve’s specialty portfolio and deepens its presence across key end markets serving the demand for more sustainable chemistry. Financial terms were not disclosed.

  • Buyer
    Payward
    Target
    Bitnomial
    Type
    Buyout

    Payward entered into a definitive agreement to acquire Bitnomial for up to $550 million in cash and stock, valuing Payward’s equity at about $20 billion. The deal combines Bitnomial’s fully CFTC-licensed U.S. derivatives infrastructure (exchange, clearinghouse, and brokerage) with Payward’s global distribution across Kraken and NinjaTrader, enabling regulated spot margin, perpetuals, and options for eligible U.S. clients.

  • Buyer
    Main Street Capital Corporation, MSC Income Fund, Inc.
    Target
    UBM ParentCo, LLC (United Business Mail)
    Industry
    IT Services

    Main Street Capital Corporation and its co-investor MSC Income Fund, Inc. completed a follow-on investment totaling $15.6 million in UBM ParentCo, LLC (doing business as United Business Mail, or UBM). The additional first lien, senior secured term debt investment is intended to support UBM’s strategic acquisition of a national, asset-light palletized mail consolidation and optimization services provider, along with freight brokerage and warehousing/distribution capabilities.

  • Buyer
    Consertus, Inc., RTC Partners
    Target
    CCS International, Inc.
    Type
    Addon

    Consertus, a portfolio company of RTC Partners, acquired CCS International, a capital project management and cost advisory firm based in Oakbrook Terrace, Illinois. The deal expands Consertus’ ability to support clients across the full capital project lifecycle—from pre-design and front-end planning through project completion—adding CCS expertise in owner’s representative services, program/project management, and cost advisory.

  • Buyer
    H.I.G. Capital
    Target
    Inventus Power
    Seller
    KRG Capital Partners
    Type
    Buyout

    H.I.G. Capital, through one of its affiliates, completed the acquisition of Inventus Power, a global provider of advanced lithium-ion battery and power systems. Inventus Power is headquartered in Woodridge, Illinois, and designs and manufactures customized battery solutions and power systems for OEMs serving military/aerospace, medical, industrial/fleet, and consumer end markets.

  • Buyer
    Berman Automotive Group
    Target
    Kia of Lincolnwood, Hyundai of Lincolnwood
    Seller
    Leader Automotive Group
    Industry
    Retail

    Berman Automotive Group acquired Kia of Lincolnwood and Hyundai of Lincolnwood from Leader Automotive Group, the U.S. subsidiary of AutoCanada. Haig Partners served as the exclusive sell-side advisor for the transactions in Chicago, Illinois.

  • Buyer
    Olympus Partners
    Target
    NTI Connect, LLC d/b/a Network Connex
    Seller
    ORIX Capital Partners, ORIX Corporation USA (ORIX USA) (via ORIX Capital Partners)
    Industry
    IT Services
    Type
    Buyout

    Olympus Partners signed a definitive agreement to acquire a majority ownership stake in NTI Connect, LLC d/b/a Network Connex from ORIX Capital Partners. Network Connex is a national provider of fiber installation and mission-critical digital infrastructure services for hyperscalers, cloud operators, and large enterprises supporting AI and next-generation data center buildouts.

  • Buyer
    UL Solutions Inc.
    Target
    Eurofins Scientific SE - electrical and electronics (E&E) business (including MET Labs certification mark)
    Seller
    Eurofins Scientific SE
    Industry
    IT Services
    Type
    Buyout

    UL Solutions Inc. entered into a definitive agreement to acquire Eurofins Scientific SE’s electrical and electronics (E&E) business, including the MET Labs certification mark, for an enterprise value of approximately €575 million (about $670 million). The deal is expected to close in Q4 2026, subject to regulatory approvals and customary closing conditions.

  • Buyer
    Paylocity
    Target
    Grayscale Labs
    Type
    Buyout

    Paylocity announced it has acquired Grayscale Labs to strengthen its AI-powered recruiting capabilities, especially for high-volume hiring organizations. The acquisition will integrate Grayscale’s recruiting automation technology into Paylocity’s human capital management platform to help employers engage candidates earlier and move faster through recruiting workflows.

  • Buyer
    Sikich
    Target
    Burwood Group
    Industry
    IT Services
    Type
    Buyout

    Sikich acquired Burwood Group, a Chicago-area IT consulting and integration firm with nearly 30 years of experience serving enterprise clients. The deal is intended to strengthen Sikich’s IT consulting and integration capabilities and expand end-to-end services across business advisory, technology modernization, and governance for regulated industries.

  • Buyer
    Wolter Inc.
    Target
    CSI Materials Handling
    Seller
    Mike Wall (Previous Owner, CSI Materials Handling)
    Type
    Buyout

    Wolter Inc. acquired CSI Materials Handling, a Chicago-area provider of pallet racking, engineered storage systems, and installation services. The acquisition strengthens Wolter’s presence in the Chicago market and expands its ability to deliver end-to-end warehouse solutions to 3PL and distribution customers.

  • Buyer
    The Sterling Group, L.P., York Private Equity
    Target
    Healthcare Linen Services Group (HLSG)
    Seller
    York Capital Management's private equity arm (York Private Equity), York Capital Management's private equity group (York Private Equity)
    Type
    Buyout

    The Sterling Group, an operationally focused middle-market private equity firm, completed its acquisition of Healthcare Linen Services Group (HLSG) from York Capital Management’s private equity arm (York Private Equity). HLSG provides outsourced linen laundry and management services to healthcare institutions across the United States, operating 20–23 processing facilities in 13 states.

  • Buyer
    General Oceans ASA, General Oceans, Inc.
    Target
    MRV Systems, LLC
    Seller
    Fred Maas
    Type
    Buyout

    General Oceans ASA entered into a purchase agreement to acquire MRV Systems, LLC. The acquisition expands General Oceans’ capabilities in long-duration, autonomous data collection and strengthens its underwater technology position, adding MRV’s profiling vehicle business and U.S. footprint.

  • Buyer
    Garda Therapeutics, Inc.
    Target
    Assertio Holdings, Inc.
    Type
    Buyout

    Assertio Holdings agreed to be acquired by Garda Therapeutics in an all-cash tender offer valued at approximately $125.1 million, plus a contingent value right (CVR). The deal includes a sale of Assertio’s non-Rolvedon assets to Cosette Pharmaceuticals for $35 million upfront, and the combined transactions are expected to close in the second quarter of 2026 (subject to customary conditions).

  • Buyer
    SpendHQ
    Target
    Sligo AI (Sligo Software, Inc.)
    Type
    Buyout

    SpendHQ acquired Sligo AI (Sligo Software, Inc.) to bring configurable agentic AI capabilities to enterprise procurement workflows. The deal combines SpendHQ’s structured procurement spend data foundation with Sligo AI’s deployment infrastructure so enterprises can execute procurement tasks under security, compliance, and data sovereignty constraints.

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