Acquisitions in Illinois in 2019

Smithereen Pest Management Services acquired Service Termite & Pest Control (transaction completed end of 2019, announced Jan. 30, 2020), expanding Smithereen's footprint into Danville and Champaign‑Urbana, Illinois and Crawfordsville, Indiana. The deal brings Service Termite customers under Smithereen's integrated pest management platform while maintaining local service continuity.

Boston-based private equity firm M/C Partners acquired the Managed Services division of West Monroe Partners in a carve-out deal that closed December 30, 2019. The business, a Chicago-based IT managed services provider serving small and mid-size businesses, will operate as a standalone platform under new CEO Wayne Kiphart to pursue growth and investments in service delivery and IT capabilities.

Blackford Capital, a private equity firm based in Grand Rapids, Michigan, completed an investment to acquire the U.S. brand licensing rights for Cartridge World, a franchised network of printer consumables retailers headquartered in McHenry, Illinois. The U.S. business operates nearly 230 franchised retail store locations; Blackford intends to strengthen supply chain and distribution relationships and support franchisee growth through operational and strategic initiatives.

Presco Polymers, a Sherman, Texas portfolio company of River Associates Investments, acquired Pro-Line Safety Products, a West Chicago manufacturer and distributor of utility marking products, on December 19, 2019. The deal expands Presco's product offering and manufacturing capacity—adding tracer wire, flexographic printing and tape converting capabilities to serve the underground utility and utility contracting markets.

Strength Capital Partners has made an investment in CALco Pallet Company, a vertically integrated wooden pallet manufacturer headquartered in Richmond, Illinois. Midwest Mezzanine participated with subordinated debt and equity and financing partners included Byline Bank and Northcreek Mezzanine; the deal establishes CALco as a PE-backed platform for Strength's buy-and-build consolidation strategy with founders Matt and Greg Calhoun remaining in leadership.

Norwest Equity Partners (NEP), together with the Clover Imaging Group executive leadership team, acquired Clover Imaging Group from 4L Holdings (the Clover Technologies Group) in a transaction that closed on December 16, 2019. Clover Imaging, a global remanufacturer and collector of printer cartridges headquartered in Chicago with ~5,000 employees, will operate as an independent standalone company under NEP ownership to pursue growth and expansion opportunities.

Chicago-based UPG Enterprises LLC acquired Metalex, LLC — a North American manufacturer of perforated products, expanded metal, safety grating and related rail products — including its Morton Rail Products division. The deal adds product capabilities, two advanced facilities (including a site in San Luis Potosí, Mexico) and is intended to expand UPG's vertical integration, market access and manufacturing footprint.

Gryphon Investors has made a majority recapitalization investment in Heartland Veterinary Partners, a Chicago-based veterinary support organization with nearly 100 practices and over 200 veterinarians. Tyree & D'Angelo Partners and Heartland management retain minority stakes; Varagon Capital Partners led financing for the transaction. Terms were not disclosed.

MiddleGround Capital has acquired Banner Service Corporation (also referred to as Banner Industries), a leading processor and distributor of precision metal bar products headquartered in Carol Stream, Illinois. The transaction is a control buyout from High Street Capital and is intended to support Banner's organic growth and platform expansion, including add-on acquisitions and further investment in medical-grade metal processing capabilities.

Acorn Health, a national provider of Applied Behavior Analysis (ABA) services, has acquired Behavior Therapy Specialists (BTS) in O'Fallon, Illinois. The acquisition expands Acorn Health's footprint into Southern Illinois and Northern Missouri and makes BTS a wholly-owned subsidiary to support center- and home-based ABA services for children and adults with autism.

Goods iQ has acquired It's Academic, Inc., adding more than 130 products and multiple consumer brands to its office and academic products division. The deal expands Goods iQ's product portfolio and leverages its manufacturing, sales and distribution capabilities to strengthen presence in mass retail and back-to-school markets.

Protective Industrial Products, Inc. (PIP), headquartered in Latham, New York, has acquired the assets of the Boss Glove and Safety business from Boss Manufacturing Company of Kewanee, Illinois. PIP will integrate Boss's consumer glove and safety product lines into its West Chester retail division and expects the acquisition to expand its product portfolio and strengthen distribution to dealers, retailers and distributors.

Stamford-based private equity firm Olympus Partners has recapitalized Heniff Transportation Systems alongside Heniff management. Heniff, headquartered in Oak Brook, Illinois, is a leading provider of bulk liquid trucking, tank washing, ISO and transloading services operating an integrated network of over 40 U.S. terminals; Olympus will provide capital to support the company’s next phase of growth and expansion.

Tower Arch Capital has completed a recapitalization investment in OSM Worldwide, a tech-enabled global parcel management and logistics services provider, partnering with the company's founding management team including CEO Gaston Curk and President Jim Kelley. The transaction provides capital and strategic support to fuel OSM's next phase of growth, including organic investments and acquisitions; terms were not disclosed.

Levine Leichtman Capital Partners (LLCP) partnered with Milton Industries' management to acquire Milton Industries, a Chicago-based manufacturer of pneumatic tools and accessories. Milton offers over 1,600 SKUs serving vehicle service, industrial MRO, aerospace & defense and agriculture; the deal is the sixth investment from LLCP's Lower Middle Market Fund.

NextGen Growth Partners announced an investment in Record Connect, Inc. on November 12, 2019 and named Entrepreneur-in-Residence Drew Daum as CEO. The investment will support Record Connect’s growth and technology investment while founder Ty Humpert remains active on the company's board to help expand its release-of-information services for hospitals, clinics, and physician offices in the Midwest.

Vision Integrated Graphics Group, a portfolio company of H.I.G. Capital, has acquired SourceLink from an affiliate of Aterian Investment Partners. The deal combines Vision's direct-marketing scale with SourceLink's data analytics and digital capabilities (including Path Interactive) to create a scaled omni-channel marketing services provider; terms were not disclosed.

Chicago-based private equity firm Kinzie Capital Partners has acquired Colony Display LLC, a designer, manufacturer and installer of customized retail, home improvement and hospitality fixtures headquartered in Elgin, Illinois. The transaction was completed in partnership with the company's founders and management; Colony will continue to be led by CEO Chuck Zich as Kinzie provides operational and technological support to drive the company's next phase of growth.

Investortools, a provider of fixed-income portfolio management and analytics software, has acquired Merritt Research Services, a leading municipal borrower data and research provider. The deal brings Merritt's dataset on thousands of municipal borrowers into Investortools' platform to expand data capabilities and deliver enhanced tools for fixed-income portfolio managers, traders and credit analysts.

Tennessee-based Titan Cloud Software has acquired JMM Global, a Chicago-area provider of underground storage tank (UST) compliance software and services for the fuel industry. The deal, led by Titan's equity investor M33 Growth, combines two market leaders to expand Titan's compliance and service capabilities and accelerate growth across retail and commercial fuel operators.

Wind Point Partners-backed U.S. Nonwovens has acquired the polyvinyl alcohol (PVA) packaging division of Multi-Pack Holdings LLC (doing business as Multi-Pack Chicago). The acquisition adds unit‑dose water‑soluble PVA packaging capabilities to USN’s portfolio, expanding its product offering in the retail laundry and dish detergent end markets and will be integrated as a division of U.S. Nonwovens.

MacQueen Group, a Rotunda Capital Partners portfolio company, has acquired Temco Machinery Inc./Global Emergency Products. The deal expands MacQueen's dealer footprint (giving it exclusive Pierce and Oshkosh airport products rights in Illinois and Indiana) and strengthens its parts, service and emergency-equipment capabilities across the Midwest; Global is headquartered in Aurora, Illinois with additional service facilities in Peoria, Illinois and Indianapolis, Indiana.

Clarion Capital Partners completed an investment in Harris & Harris, a Chicago-based accounts receivable management and customer care firm. The company's CEO Arnie Harris and COO David Harris will retain meaningful ownership and continue in their roles; Clarion intends to support investments in employees, compliance, and technology and will pursue M&A to expand the business geographically and add new services.

Genpact has signed a definitive agreement to acquire Chicago-based digital consultancy Rightpoint to combine experience innovation with Genpact's process and digital capabilities. Rightpoint will continue to be led by co-founder Ross Freedman as CEO and will expand its offerings and global reach through Genpact's client base and platform.

Riverside Insights, a portfolio company of Alpine Investors, has acquired ESGI, a SaaS provider of teacher-led early childhood assessment, reporting and analytics tools. The add-on expands Riverside's assessment technology suite and aims to accelerate ESGI product adoption across school districts through Riverside’s distribution and research-driven assessment capabilities.

Vestar Capital Partners has agreed to make a minority growth investment in Simple Mills to support the natural-foods company's new product development, brand-building and distribution expansion. Terms were not disclosed; the deal is expected to close in October 2019 and Simple Mills will continue to operate as an independent company under founder and CEO Katlin Smith.

Ntiva, a PE-backed managed IT services provider, has acquired 3Points, a Chicago-based managed IT services firm. The deal — announced by Ntiva and its sponsor Southfield Capital — expands Ntiva's Midwest footprint, strengthens its service offering for commercial and nonprofit clients, and represents an add-on to the Ntiva platform.

Patrol Protect and Secure (PPS), a security platform formed by Mangrove Equity Partners and Sunlake Capital, has acquired American Heritage Protection Services (AHPS), an Illinois-based provider of armed and unarmed security guard services. The deal is an add-on acquisition to expand PPS's scale and geographic footprint, strengthening its capabilities serving utility companies and healthcare facilities.

GTCR has signed a definitive agreement to recapitalize Cole-Parmer Instrument Company, acquiring a majority stake while Golden Gate Capital and CEO Bernd Brust with the Cole-Parmer management team retain significant minority ownership. The recapitalization will support Cole-Parmer's continued organic growth and strategic M&A in the life sciences, healthcare and environmental laboratory products markets; the company will remain headquartered in Vernon Hills, Illinois.

Skyline Global Partners LLC closed a growth equity investment in BRM Holdings LLC, the parent company of Gypsoil and Beneficial Reuse Management, on September 16, 2019. The investment will provide capital and strategic support to expand BRM’s manufacturing and distribution of specialty agricultural and construction products made from reusable industrial by-products; financial terms were not disclosed.

Seacoast Capital announced a $30 million syndicated growth equity investment in SkinCure Oncology, a Burr Ridge, Illinois-based provider of turnkey image-guided superficial radiation therapy (IG-SRT) services for dermatologists. The non-control capital infusion was used to facilitate a shareholder dividend and to capitalize SkinCure for future growth and national expansion.

Arcapita’s portfolio company MC Group acquired Icon Identity Solutions, a leading U.S. signage and brand-implementation company, from Merit Capital Partners in August/September 2019. The acquisition expands MC Group’s service offering and national footprint—combining MC’s energy services with Icon’s interior, remodel and signage capabilities—while keeping Icon’s Rolling Meadows, Illinois office as a secondary operations base.

Centerbridge Partners has acquired Norwest Equity Partners' investment interest in GoHealth, the leading online and telephonic health insurance marketplace; NEP retains a minority ownership stake post-transaction. The deal, originally announced August 19, 2019, closed on September 13, 2019, and financial terms were not disclosed.

The Riverside Company made a non-control growth investment in Affinitiv, Inc., a portfolio company of CIP Capital, in connection with Affinitiv's acquisition of Loop LLC (AutoLoop). The combined business will operate under the Affinitiv brand and be headquartered in Chicago, Illinois, offering an integrated, end-to-end data-driven marketing and service scheduling platform for automotive dealers.

NewCastle Partners, LLC has acquired Amglo Kemlite Laboratories, Inc., a specialty manufacturer of xenon and halogen lamps based in Bensenville, Illinois. Farragut Capital Partners provided subordinated debt and an equity co-investment to support the acquisition as part of Farragut’s second SBIC Fund; Amglo will operate independently and pursue organic growth and product-line acquisitions with management and investors.

The Eastern Company (NASDAQ:EML) acquired 100% of Big 3 Precision Products, Inc. and Big 3 Precision Mold Services, Inc. from TVV Capital for $81.7 million. The acquisition expands Eastern's engineered/returnable packaging and mold-tooling capabilities, is immediately accretive to earnings, and supports Eastern's strategy to grow EBITDA and pursue bolt-on acquisitions.

Private equity firm OpenGate Capital acquired a majority interest in InRule Technology, a Chicago-based decision management and business rules management software company. Financial terms were not disclosed; InRule will continue to be led by its co-founders and management while OpenGate said it will support the company's growth and product investment.

Tenex Capital Management closed an investment in Big Bolt LLC, an ISO‑certified specialty fastener manufacturer headquartered in Bloomingdale, Illinois. Tenex said it will partner with Big Bolt's management to expand the company's operations, brand and market opportunities across aerospace, transportation, construction and other industrial end markets.

Nemera has acquired Insight Product Development, a Chicago-based healthcare-focused design and innovation consulting firm, and integrated it into Nemera’s newly branded Insight Innovation Center. The acquisition strengthens Nemera’s front-end innovation, human factors and design engineering capabilities and expands its North American development footprint to better serve drug delivery and medical device customers.

Novo Holdings A/S made a $72 million Series E growth equity investment in LanzaTech to support expansion and commercialization of the company's carbon-recycling fuels and chemicals platform. Anders Bendsen Spohr of Novo Holdings will join LanzaTech's board as the investment aims to accelerate deployment of LanzaTech's sustainable fuels, chemicals and polyethylene produced from recycled carbon.

Highlander Partners, through its newly-formed food platform Benestar Brands, acquired Evans Food Group from Wind Point Partners. Evans is a leading global producer of branded and private-label pork rinds with six production facilities (five in the U.S. and one in Mexico); Highlander intends to use Benestar as a buy-and-build platform in the snack food category.

Guidehouse, a Veritas Capital portfolio company, agreed to acquire Navigant Consulting, Inc. for approximately $1.1 billion in cash ($28.00 per share). The deal combines Guidehouse's public-sector consulting strengths with Navigant's commercial expertise across healthcare, energy and financial services to create a global consultancy with expanded scale and capabilities.

CID Capital has completed a recapitalization partnership with Seaga Manufacturing, a Freeport, Illinois–based maker of intelligent food/beverage and industrial vending equipment. Founder Steve Chesney will remain CEO, while Stifel Bank & Trust and ORIX provided senior and subordinated financing respectively and Dinan Capital Advisors served as Seaga’s exclusive financial adviser.

GI Alliance, backed by Waud Capital Partners, announced a partnership with Illinois Gastroenterology Group (IGG), bringing IGG into the GI Alliance platform. Waud provided equity capital and GSO (Blackstone credit) provided financing; GI Alliance said it will support IGG's growth in the Midwest while preserving the practice's autonomy and investing in affiliated ambulatory surgery centers.

Toast has acquired StratEx, a Chicago-based HR and payroll SaaS provider, from Halyard Capital. The acquisition brings StratEx's restaurant-focused HR and payroll capabilities into Toast's restaurant-management platform to expand its HR/payroll offering.

Ntiva, a PE-backed managed IT services provider, has acquired HigherGround Managed Services, a Chicago/Rolling Meadows-based MSP. The deal expands Ntiva's geographic presence into the Midwest and adds HigherGround's capabilities in custom application development and e-mail security to Ntiva's service offering.

CIVC Partners has acquired Computer Aided Technology (CATI) from Mangrove Equity Partners. CATI is a reseller and services provider for SolidWorks 3D CAD and Stratasys 3D printing solutions that serves manufacturing customers; Mangrove supported management expansion and industry consolidation before the sale. The deal represents a PE-to-PE/owner exit enabling CIVC to grow the CAD/additive services platform.

Lifeway Mobility, a Rockwood Equity Partners portfolio company, acquired the assets of Home Mobility Solutions, Inc. (HMS) of Downers Grove, Illinois through its subsidiary Extended Home Living Services (EHLS). The add-on expands Lifeway's Midwest footprint and product/service capabilities in home accessibility (stairlifts, ramps, elevators and bathroom modifications); Rockwood said it will continue to support Lifeway's buy-and-build strategy.

Long Ridge Equity Partners made a growth capital investment in Neighborhoods.com, the parent company of 55places.com, becoming the company's first outside investor. Long Ridge principals Angad Singh and Dan Hang will join the board to support product and market expansion as Neighborhoods.com pursues adjacent verticals and continued growth of its online real estate marketplaces.

Kohlberg & Company has signed a definitive agreement to acquire a majority stake in EN Engineering from growth equity firm General Atlantic. EN Engineering, headquartered in Warrenville, Illinois, is a utility services and engineering firm with over 1,500 professionals serving gas, electric, pipeline and industrial customers; Kohlberg cited its infrastructure services experience to support the company's next phase of growth and geographic expansion.