Acquisitions in Illinois in 2020

McCormick & Company, Inc. agreed to acquire 100% of FONA International, LLC for $710 million in cash. FONA is a privately held manufacturer of clean and natural flavors headquartered in Illinois with approximately $114 million in annual sales and ~220 employees; McCormick said the deal expands its flavor solutions portfolio, technology capabilities and clean/natural offerings and is expected to be accretive to gross margin.

Bemis Manufacturing Company acquired Bio Bidet, a Crystal Lake, Illinois-based maker of bidet and smart toilet seats, effective December 29, 2020. The acquisition expands Bemis’s product portfolio and engineering capabilities in bidet and smart toilet-seat technology while leveraging Bemis’s distribution and market penetration to grow the bidet category.

FedEx Corporation completed its acquisition of ShopRunner, an e-commerce platform that connects brands and merchants with online shoppers. ShopRunner will operate within FedEx Dataworks to combine its pre-purchase, data-driven marketing and omnichannel capabilities with FedEx's logistics and post-purchase services to expand FedEx's e-commerce offering.

Bain Capital Private Equity agreed to acquire a majority stake in US LBM from Kelso & Company, with the transaction announced in November 2020 and completed in December 2020. The deal positions Bain to further scale US LBM’s national building-materials distribution platform and accelerate its acquisition-driven growth.

Terra Worldwide Logistics (parent company of American Global Logistics) has acquired Downers Grove, Illinois-based Connect Global Logistics. Connect Global Logistics will operate under the American Global Logistics tradename and founder Kim Malloy has joined TWL as President of the CGL division; the deal is an add-on to TWL/AGL's logistics platform to expand capabilities and customer reach.

1WorldSync, a product content solutions provider backed by Battery Ventures, has acquired Snap36, a specialist in 360-degree and 3D product imaging. The acquisition deepens integration of Snap36’s automated image-capture technology into 1WorldSync’s end-to-end product content suite to expand capabilities for brands and retailers in e-commerce and retail channels.

Tailwind Capital has acquired ArrowStream from Diversis Capital; terms were not disclosed. Tailwind plans to invest in ArrowStream's supply-chain software platform to accelerate product development and expand market share across the foodservice and restaurant supply chain.

Securitas AB has acquired FE Moran Security Solutions for approximately USD 82 million, strengthening Securitas' electronic security capabilities and density in the U.S. Midwest. FE Moran provides electronic security systems integration, installation, maintenance and UL-listed alarm monitoring with a sizeable recurring monthly revenue base; the deal is expected to be accretive and consolidated into Securitas from December 16, 2020.

Syndigo, a Chicago-based provider of a SaaS product information management and syndication platform, announced a growth equity partnership with Summit Partners, with existing investor The Jordan Company participating. The investment will fund Syndigo's global expansion and continued development of its Content Experience Hub to better serve manufacturers, retailers and distributors worldwide.

J.F. Lehman & Company (via an investment affiliate) has acquired ENTACT, LLC, a national provider of environmental remediation and geotechnical services headquartered in Westmont, Illinois. ENTACT's management will remain meaningful shareholders and the company — which employs ~600 people — will join JFLCO's portfolio to support further growth and capability expansion in environmental and technical services.

Move, Inc., operator of realtor.com and a News Corp subsidiary, acquired Chicago-based Avail, a platform serving DIY landlords and renters with online rental management tools. The acquisition expands realtor.com's capabilities and audience in the residential rental market by integrating Avail's listing content, workflow tools and customer base into realtor.com's platform.

Thompson Street Capital Partners portfolio company Marmic Fire & Safety Co. has acquired Chicago-based Total Fire & Safety, LLC, a provider of fire and life safety systems, equipment and related services. The add-on expands Marmic's self-performing fire protection footprint into the Chicago metropolitan area; terms were not disclosed.

Berkshire Partners has completed a recapitalization of FoodChain ID, acquiring the company from Paine Schwartz Partners. The transaction positions FoodChain ID to pursue its next phase of growth — including strategic add-on acquisitions and expanded global food safety, testing and sustainability offerings.

Paine Schwartz Partners (via Paine Schwartz Food Chain Fund V) has made a strategic investment in Urban Farmer, a Manteno, Illinois-based manufacturer of plant-based specialty dough and frozen pizza products. The investment establishes a new platform for Paine Schwartz to expand in the better-for-you specialty dough and frozen foods category while supporting Urban Farmer's growth and manufacturing capabilities.

Sysnet Global Solutions has acquired Viking Cloud to enhance its cloud security platform, broaden its compliance and threat-detection capabilities, and accelerate enterprise market expansion. The deal combines Viking Cloud's next-generation asset, event and compliance management technology with Sysnet's payment security and compliance services; Viking Cloud CEO Robert McCullen will become Executive Chairman of Sysnet.

Brynwood Partners' newly-formed portfolio company, Great Kitchens Food Company Inc., has acquired ARYZTA North America's take-and-bake pizza business in a carveout transaction. Great Kitchens will be headquartered in Romeoville, Illinois and operate production facilities in Chicago Heights and Romeoville employing approximately 700 people; financial terms were not disclosed.

Vander-Bend Manufacturing, a portfolio company of Aterian Investment Partners, has acquired Swiss Precision Machining (SPM), a Wheeling, Illinois-based precision manufacturer of swiss screw machined components used in robotic surgery and other high-technology end markets. The deal is an add-on acquisition that expands Vander-Bend’s consumable medical instrument capabilities, swiss-screw machining capacity, and customer relationships in med-tech.

Atlas Holdings has completed the acquisition of substantially all assets of LSC Communications through a court-supervised Section 363 sale. The deal gives Atlas control of a leading North American print and digital media solutions provider with more than 14,000 employees and an expanded manufacturing and distribution footprint across books, magazines, catalogs and office products.

Thoma Bravo has agreed to acquire a majority interest in Flexera, a Chicago-area software company that provides IT asset management and software monetization solutions. Existing investors TA Associates and the Ontario Teachers' Pension Plan will remain meaningful shareholders as Thoma Bravo partners with management to accelerate growth and expand Flexera's SaaS offerings such as Flexera One.

Serent Capital has made a growth investment in Procurement Partners, a Champaign, Illinois–based provider of a procure-to-pay (P2P) eProcurement platform serving healthcare providers. The investment will provide capital and Serent’s growth resources to help Procurement Partners scale its platform, expand its team, and reach more healthcare customers across the United States.

TRIMEDX has acquired Centurion Service Group, a full-service surplus medical equipment management and auction platform, to expand its Clinical Asset Management offering. The acquisition will integrate Centurion’s auction services, pricing data and e-commerce marketplace with TRIMEDX’s clinical asset informatics to help healthcare providers maximize value from excess equipment and optimize capital spend.

Sedgwick has acquired Stericycle's Expert Solutions service line, bringing market-leading recall, remediation and retention capabilities in-house. The acquisition adds more than 300 employees across the U.S., Canada and Europe and expands Sedgwick's integrated offerings for clients in automotive, food & beverage, medical devices, retail, pharmaceuticals and consumer products sectors.

Traditions Health, a national provider of hospice and home health services and a portfolio company of Dorilton Capital, has acquired Harbor Light Hospice, a Winfield, Illinois–based multi-state hospice operator with fifteen offices across seven states. The deal expands Traditions' geographic footprint into new markets while Harbor Light's management will remain in place post-closing.

ACON Investments has acquired Novipax, the U.S. market leader in absorbent pads for fresh meat and poultry packaging, from Atlas Holdings. The transaction transfers Novipax's absorbent pad manufacturing facilities and headquarters in Oak Brook, Illinois, to ACON, while the tray business is excluded from the sale and will operate separately as NPX ONE.

Penske Logistics has agreed to acquire Chicago-based trucking company Black Horse Carriers, Inc.; financial terms were not disclosed. The acquisition, expected to close December 31, 2020, will expand Penske’s dedicated contract carriage capabilities and integrate Black Horse’s fleet and operations (Black Horse operates ~2,000 vehicles and employs more than 4,000 people).

ENT Partners, a physician-led network of ENT and sleep providers, announced the acquisition and partnership with Specialty Care Institute to expand its Chicagoland footprint. The deal brings Specialty Care Institute's three clinics in Elgin, Barrington and Hoffman Estates into the ENT Partners network and provides the practice management resources and capital to support growth and scalability.

HelloFresh (via its US subsidiaries) agreed to acquire all outstanding equity interests of Factor75, Inc. (Factor), a Batavia, Illinois-based ready-to-eat meal delivery company, for up to $277 million (approximately $177M at closing plus up to $100M in performance-based earn-outs and incentives). The acquisition gives HelloFresh immediate scale in the US ready-to-eat market — Factor generated roughly $100M revenue in 2020 and brings production/fulfillment capacity, four facilities and a Chicago-area presence to HelloFresh's U.S. brand portfolio.

Ovivo Inc., a global water and wastewater treatment equipment and systems provider, has acquired the businesses of Alar Engineering Corporation, Alar Chemical Sales Inc. and Alar Leasing Inc. (together "ALAR"). The acquisition adds ALAR's dewatering equipment, chemical products and Central U.S. presence in Mokena, Illinois, to Ovivo's industrial water capabilities and supports Ovivo's expansion in North American industrial wastewater markets.

Flat River Group, a portfolio company of Guardian Capital Partners, has acquired Optimum Fulfillment, a Peru, Illinois-based wholesale distributor and eCommerce fulfillment provider for toys, games and other consumer products. The acquisition is an add-on to Flat River Group’s platform and is intended to combine operational, technological and service capabilities to better support vendor partners and eCommerce retailer customers.

Lou Weisbach and an investor group, together with Westbridge Capital Ltd., have acquired the business of promotional-products distributor Overture Promotions and will operate it as a platform for an international branding company led by Weisbach and Overture CEO JoAnn Gilley. Westbridge will fund future add-on acquisitions and investments to expand Overture's services, technology, distribution capacity and global footprint.

IBM announced a definitive agreement to acquire Instana, an application performance monitoring and observability company headquartered in Chicago, to strengthen IBM's hybrid cloud and AI-powered automation capabilities. The deal (financial terms not disclosed) will integrate Instana's observability platform with IBM's Watson AIOps and Cloud Paks to help customers manage complex, cloud-native applications across hybrid environments.

Rinse, the San Francisco-based on-demand laundry and dry-cleaning service, has acquired Dryv, a Chicago-based dry cleaning and laundry provider, to accelerate its expansion in the Chicago market. The acquisition gives former Dryv customers access to Rinse’s broader service set — including subscription offerings and corporate laundry benefits — and strengthens Rinse’s national footprint.

Baird Capital has made a growth capital investment in Upfront Healthcare, a Chicago-based omnichannel patient engagement and communication platform founded in 2016. The investment is intended to support Upfront's continued growth and capability expansion to help health systems improve patient engagement and care delivery.

Farragut Capital Partners provided senior debt and made an equity co-investment alongside Pelham S2K to support Factorial Restaurant Holdings, LLC's acquisition of 26 Burger King locations. The newly formed, Chicago-based platform (Factorial) will use the capital and a delayed-draw development line to remodel stores and pursue future growth across the Burger King system in the Midwest.

Patrick Industries has completed the acquisition of Lake Zurich, Illinois-based Geremarie Corporation, a designer and manufacturer of high-precision aluminum components serving marine, medical, aerospace, defense and industrial markets. The company projected Geremarie's full-year 2020 revenues at approximately $44 million; the acquisition was funded under Patrick's existing credit facility and Geremarie will operate as a stand-alone business at its existing facility.

AccentCare, owned by Advent International, has signed a definitive agreement to combine with Seasons Hospice & Palliative Care, bringing Seasons' hospice and palliative expertise together with AccentCare's home health, personal care and hospice services. The combined organization will operate over 225 sites across 26 states, employ nearly 30,000 professionals, and expand capabilities and geographic reach to better serve Medicare Advantage and other post-acute care markets.

IBM has reached a definitive agreement to acquire TruQua Enterprises, an SAP consulting partner that specializes in finance and analytics solutions. The acquisition bolsters IBM Services' SAP S/4HANA finance capabilities and supports IBM's hybrid cloud growth agenda; financial terms were not disclosed.

The Planet Group, a portfolio company of MidOcean Partners, has agreed to acquire Interactive Business Systems (IBS), an Oak Brook, Illinois–based provider of flexible IT staffing, project solutions and managed services. The deal is an add-on acquisition intended to strengthen Planet's technology services and expand its IT staffing and managed-service capabilities, including IBS's Midwest presence and offshore delivery center in India.

Centerbridge Partners and The Vistria Group have acquired Help at Home, a Chicago-based provider of in-home and community-based care operating in 13 U.S. states. Wellspring Capital sold the company but will remain a minority investor; the buyers plan to support Help at Home’s next phase of growth and expand access to its services across its footprint.

The Kenan Advantage Group, Inc. (KAG) has completed the acquisition of Fort Transfer Company, a Morton, Illinois–based liquid bulk chemical carrier and storage provider. The deal adds Fort Transfer’s terminals, 100 tractors, 249 trailers, ~2.6 million gallons of temperature-controlled storage capacity, and roughly 203 personnel (including 158 drivers/contractors and 45 operational staff) to KAG’s Specialty Products operations to expand capabilities and geographic coverage in chemical and agricultural markets.

Jon-Don, a supplier of commercial janitorial and restoration supplies, has acquired Factory Cleaning Equipment, Inc. (FCE), a U.S.-based seller and renter of industrial floor scrubbers and sweepers. The deal expands Jon-Don's equipment offering and service capabilities while bringing FCE's leadership team into Jon-Don's organization.

TELEO Capital Management completed the acquisition of Rand McNally, a Chicago-based provider of fleet management, telematics and route mileage optimization software, as well as printed atlases and education products. TELEO said it will support Rand McNally’s next stage of growth through product investment and both organic and inorganic expansion initiatives.

TRATON SE agreed to acquire all outstanding shares of Navistar International Corporation not already owned by TRATON for USD 44.50 per share in cash, building on a prior strategic alliance. The transaction, financed in part by Volkswagen Group, is intended to create a global commercial-vehicle leader by combining TRATON's strength in Europe and South America with Navistar's North American footprint.

Blackhawk Network has completed the acquisition of National Gift Card (NGC), a Crystal Lake, Illinois-based provider of technology-enabled prepaid and gift card solutions. The seller was Longshore Capital Partners (in conjunction with LaSalle Capital); the deal expands Blackhawk's prepaid, fulfillment and program-management capabilities and integrates NGC's fulfillment operations and customer base into Blackhawk's global branded-payments platform.

Navisite has acquired Dickinson + Associates, a Chicago-based SAP systems integrator and Premier SAP Gold Partner, to expand its SAP managed cloud and professional services capabilities. The deal adds approximately 200 SAP professionals and broadens Navisite's ability to support SAP S/4HANA migrations and SAP cloud solutions for mid-market and enterprise customers.

AEA Investors' Small Business Fund has closed the acquisition of Montway, Inc., a fast-growing US vehicle transport broker. Montway operates a technology-enabled platform serving both B2C and B2B customers, providing load matching, instant quoting and real-time tracking; AEA plans to support growth and further penetrate the B2B market.

Solar Capital Ltd. acquired an 87.5% majority stake in Kingsbridge Holdings LLC on November 3, 2020, investing approximately $216 million (about $136 million of equity and $80 million of debt). The stake was purchased from TZP Capital Partners II, LP and affiliates with Kingsbridge management rolling a portion of their equity; the acquisition expands Solar Capital's specialty finance platform by adding lease origination and asset finance capabilities through Kingsbridge's equipment leasing business based in Lake Forest, Illinois.

Owner Resource Group (through ORG Opportunity Fund III, LP) made a recapitalization investment in SURESTAFF, LLC, a light-industrial staffing provider headquartered in Itasca, Illinois. The company's founder-operators Ray Morelli, Dave Mehr and Doug Howard remain on the executive team while Timothy Faber joins as CEO; the capital will fund geographic expansion, technology and people investments, and position SURESTAFF for future acquisitions.

Celero Commerce, a PE-backed vertically focused commerce solutions provider, acquired TransNational Payments, a provider of electronic payments technology and business-management SaaS. The deal expands Celero's merchant and financial-institution footprint—bringing the combined company to roughly 40,000 merchants and more than $14 billion in card volume processed annually—and adds proprietary SaaS capabilities and distribution channels to Celero's platform.

LiveXLive Media, Inc. agreed to acquire 100% of Custom Personalization Solutions, LLC (CPS) in an all-stock deal valued up to $6.0 million, expected to close by December 31, 2020. CPS, a Addison, Illinois–based e-commerce personalization and licensed-merchandise business with roughly 70 employees and approximately $19 million of revenue in 2019, will expand LiveXLive's commerce capabilities and diversify revenue beyond content and advertising.