Acquisitions in Illinois in 2018

Solara Medical Supplies, backed by Linden Capital Partners, has acquired Huey's Home Medical, an Illinois-based direct-to-patient durable medical equipment and supplies provider. The acquisition expands Solara's Midwest footprint and strengthens its direct-to-patient diabetes and home medical equipment distribution capabilities.

Cable ONE (NYSE: CABO) entered into a definitive agreement to acquire Clearwave Communications, a facilities-based fiber network operator headquartered in Harrisburg, Illinois. The acquisition gives Cable ONE a dense regional fiber footprint and expands its business/enterprise services capabilities within its existing markets; Clearwave was majority-owned by funds affiliated with Stephens Capital Partners LLC.

Dayton Parts, LLC — a portfolio company of AEA Investors LP — has acquired Security Steel Supply Co., a family-owned supplier of 5160H alloy spring steel and automotive leaf spring suspension components based in Kankakee, Illinois. BDO Capital Advisors served as exclusive financial advisor to Security Steel on the transaction, which expands Dayton Parts' product offerings and distribution footprint in the leaf-spring and undercarriage parts market.

GSM Outdoors, a portfolio company of Sentinel Capital Partners, has acquired New Archery Products, LLC (NAP) from Bruckmann, Rosser, Sherrill & Co. Cleary Gull acted as exclusive financial advisor to NAP; the deal expands GSM's multi-brand hunting and archery product portfolio and complements its existing capabilities in the outdoor and shooting sports market.

Ryerson Holding Corporation agreed to acquire Central Steel & Wire in a transaction announced June 5, 2018, valuing Central Steel & Wire at an enterprise value of $140 million (cash-free, debt-free). The deal, advised by Brown Gibbons Lang & Company, was approved by both boards and expected to close in Q3 2018 subject to regulatory approval and HSR clearance.

St. Louis-based private equity firm Millstone Capital Advisors has acquired Native Foods, a Chicago-based plant-focused fast-casual restaurant chain with 13 locations across California, Colorado, Oregon and Illinois. Millstone said the investment will provide resources to support Native Foods' expansion while maintaining the brand's plant-based mission and operations under existing management.

Onex Corporation acquired a minority equity stake in Ryan Specialty Group through a $150 million preferred equity and $25 million common equity investment to support RSG's growth and M&A strategy. The capital injection establishes a long-term strategic relationship between Onex and Ryan Specialty Group while leaving RSG management (Pat Ryan) in place.

Ultimus Fund Solutions acquired Woodfield Fund Administration, a privately owned private fund administration firm headquartered in Chicago, Illinois. The acquisition expands Ultimus’ private fund administration and middle-office capabilities, increases assets under administration to more than $75 billion and will result in a combined firm serving over 140 clients with nearly 200 employees.

Ernst & Young LLP (EY) has acquired Chicago-based Sonoma Partners, a consulting firm specializing in Microsoft Dynamics CRM and Salesforce CRM solutions. The deal brings more than 100 Sonoma practitioners into EY's U.S. Digital, Data and Analytics practice to expand EY's CRM and digital transformation delivery capabilities.

Hadley Capital has acquired New Age Cryo, Inc., a Northern Illinois provider of industrial cleaning services, from founder Brad Potts. Hadley will partner with Jeff Potts to grow the business, which offers sponge blasting, dry ice blasting and hydroblasting services.

AXA has acquired Chicago-based Maestro Health, a technology-enabled benefits administration platform, and will operate it as a wholly-owned subsidiary to support AXA's payer-to-partner strategy. Maestro Health, founded in 2013, has more than 300 employees and serves mid-size and large U.S. employers, currently covering over 1 million lives.

Cars.com Inc. agreed to acquire Dealer Inspire and Launch Digital Marketing for $165 million in cash (with up to $40 million of additional contingent consideration) to broaden its dealer-facing digital products and services. The acquisition brings website platforms, digital retailing and AI messaging capabilities to Cars.com's marketplace and is intended to accelerate organic growth and expand capabilities for its dealer customers.

Benton Harbor, Michigan–based Midwest Timer Service, Inc. has acquired Carol Stream, Illinois–based Core Components, Inc. The acquisition expands Midwest Timer's product offering into HVAC, controls and electromechanical components and is intended to diversify its end markets and capabilities.

Daxko, a GI Partners–backed provider of software for member-based health and wellness centers, has acquired Club Automation, a Bannockburn/Chicago-area provider of web-based club management software used by 400+ facilities. Club Automation's leadership and team will remain in place as part of Daxko, strengthening Daxko's club management platform and broadening its product offering for health, medical wellness and recreation customers.

Mill City Capital has acquired HN Precision Company, a precision machining manufacturer headquartered in Lake Bluff, Illinois, from Cerberus Business Finance. HN Precision operates over 175 CNC machines and employs approximately 240 people serving end markets including heavy truck, off-highway vehicles, recreational firearms and rail; Mill City plans to grow the business as a platform and expand its manufacturing capabilities.

Trianz, a global digital transformation and technology services firm, has acquired CBIG Consulting, a Chicago-based Big Data and Analytics consulting business. The acquisition expands Trianz's analytics and data capabilities and adds CBIG's management team and expertise to Trianz's broader cloud, analytics and managed services portfolio; 7 Mile Advisors acted as exclusive buy-side advisor.