Tracked deals
750
750 tracked deals across 2011-2026.
Tracked deals
750
750 tracked deals across 2011-2026.
Buyer mix
Mixed buyer set
605 strategic · 371 pe
Top trend
Volume peaked in 2022
115 tracked deals announced in 2022.
Buyer Snapshot
Illustrative buyers pulled from tracked transactions on this page. This table is capped and intentionally non-exhaustive.
| Buyer | # Deals | Focus | Type |
|---|---|---|---|
| The Riverside Company | 7 | Global private investment firm focused on the smaller end... | PE |
| CertaSite | 5 | Commercial fire protection and life safety services provi... | Strategic (PE-backed) |
| Novacap | 5 | Leading Canadian private equity firm focused on TMT, indu... | PE |
| Patrick Industries, Inc. | 5 | Manufacturer and distributor of component and building pr... | Strategic |
| Arsenal Capital Partners | 4 | Middle-market private equity firm focused on industrial a... | PE |
| Blue Point Capital Partners | 4 | Private equity firm focused on investing in and scaling l... | PE |
| Fort Point Capital | 4 | Private equity firm targeting fragmented business service... | PE |
| Hub International Limited | 4 | Global insurance broker and financial services firm provi... | Strategic (PE-backed) |
| LCI Industries | 4 | Public manufacturer and distributor of engineered compone... | Strategic |
| Lippert Components, Inc. | 4 | Manufacturer and supplier of engineered components and pr... | Strategic |
Last 10 years
Supporting Data
TCC, a Verizon-authorized retailer under Round Room, LLC, acquired 36 retail locations from R Wireless. The stores expand TCC’s Northeast presence across Connecticut, Massachusetts, New Jersey, New York, and Pennsylvania and bring more than 100 R Wireless employees into TCC.
IDI, Insulation Distributors, Inc. announced it has acquired MCC Equipment & Service Center, a spray foam and polyurea distributor headquartered in Plainfield, Indiana. The deal expands IDI’s spray foam expertise and broadens its national footprint, including MCC’s spray foam rig design and custom rig-building capabilities.
Mobile Communications America (MCA) announced the acquisition of Radio Communications Systems, Inc. (RCS Communications), a Motorola Solutions channel partner serving Kentucky and Indiana. The deal is intended to expand MCA’s Midwest presence—particularly in southern Indiana and Kentucky—by adding two Louisville, Kentucky solution centers and increasing local support for voice, data, and security solutions.
Patrick Industries and LCI Industries entered into a definitive all-stock agreement to combine in a merger that is expected to create a component solutions provider for the outdoor enthusiast and related markets. Under the terms, LCI shareholders will receive 1.2440 shares of Patrick stock for each LCI share, and Patrick shareholders will own about 52% while LCI shareholders will own about 48% of the combined company.
H.I.G. Capital, through an affiliate, completed the acquisition of Premier Forge Group (PFG), a manufacturer of complex, mission-critical forged components for aerospace, defense, and specialty industrial applications. The company plans to continue investing in PFG’s people, operations, and capabilities to support growing customer demand.
Air Distribution Technologies (ADT), a Truelink Capital portfolio company, has completed the sale of its PennBarry business to Hessaire Products. PennBarry designs and manufactures ventilation solutions for industrial and commercial markets, and the deal is intended to support continued growth under Hessaire’s ventilation-focused platform.
Integrated Water Services (IWS) acquired Tetrasolv Filtration to expand advanced water treatment, specialized filtration/media services, rentals, and field support capabilities. The deal, which closed on June 22, 2026, positions the combined organization to deliver turnkey wastewater treatment solutions for industrial and municipal mid-market customers.
Legrand announced it has acquired Girtz Industries, a U.S. provider of custom-engineered modular power enclosures and related integration, testing, and technical services. The acquisition strengthens Legrand’s Electrical Wiring Systems division and expands its capabilities for critical backup power and behind-the-meter primary power solutions serving datacenter, industrial, and commercial customers.
Platte River Equity partnered with Tallman Equipment Company to support Tallman’s next phase of growth. Tallman is a supplier of lineman tools and equipment, rental services, tool repair/refurbishment, testing, fabrication, and other support for electric utility and linework industries.
Focus Financial Partners’ wealth management business, Focus Partners Wealth, LLC, will acquire EverNest Financial Advisors, LLC. The transaction is expected to close in the third quarter of 2026, subject to customary closing conditions, and EverNest is expected to add approximately $960 million (as of December 31, 2025) to Focus Partners Wealth’s regulatory assets under management.
Heartland Food Products Group entered into a definitive agreement to acquire the Americas business of Whole Earth Brands, including the Equal, Whole Earth, Swerve, and Chuker sweetener brands across North America and Latin America. The deal expands Heartland’s position in sugar reduction and low- and no-calorie sweeteners and will grow Heartland’s portfolio across retail, foodservice, e-commerce, ingredient solutions, and B2B channels.
ReElement Technologies, an American Resources affiliated minority holding, formed a joint venture with POSCO International to develop integrated rare earth element and permanent magnet production in the United States. The JV includes a $200 million investment intended to build an end-to-end, closed-loop supply chain from feedstock sourcing and refining through permanent magnet manufacturing.
Foundral announced the acquisition of A. Hattersley & Sons, a Fort Wayne, Indiana-based mechanical contracting company founded in 1856. The deal expands Foundral’s union-backed mechanical contracting platform, adding capabilities across piping and HVAC design, engineering, project management, installation, and maintenance for commercial, industrial, and institutional markets.
Polargy announced the acquisition of Forge Racks & Dunnage, a Connersville, Indiana-based manufacturer of data center skids, industrial racks, and custom steel fabrication. The deal adds 160,000 sq. ft. of manufacturing space and expands Polargy’s North American manufacturing footprint to over 550,000 sq. ft., enhancing its capacity for large, complex white-space and grey-space data center infrastructure programs.
Pro-Vision, a provider of mobile video and fleet safety solutions, announced it has acquired Convoy Technologies, a Fort Wayne, Indiana-based provider of video and vehicle safety technology for commercial fleets. The deal expands Pro-Vision’s fleet safety platform and portfolio of commercial vehicle video/monitoring solutions, while also adding Convoy’s specialized capabilities and operations presence in Southern Ontario, Canada.
Addus HomeCare (NASDAQ: ADUS) acquired Indiana-based HomeCourt Home Care as part of its expansion into the state. The HomeCourt deal closed on May 1, and Addus also disclosed it has entered a definitive purchase agreement to acquire a second, similarly sized Indiana personal care provider expected to close in the coming months.
Static Media has acquired Engadget.com, the long-running digital platform for technology enthusiasts previously owned by Yahoo. The deal deepens Static Media’s presence in the tech and auto vertical by adding Engadget’s editorial audience and product review/event coverage capabilities.
L2 Aviation, an avionics integration, certification, and aircraft modification services provider, announced it has acquired Advance Aero, a precision machining and sheet metal fabrication company based in Mooresville, Indiana. The deal is intended to strengthen L2 Aviation’s vertical integration by bringing critical aerospace-grade machining and fabrication in-house to improve supply-chain control, reduce lead times, and support turnkey aircraft installation and kitting operations.
BTX Precision has completed the acquisition of Maitland Engineering, a South Bend, Indiana-based specialist in high-precision small component manufacturing. Maitland will continue operating from its existing facilities as a standalone business unit within BTX, retaining its current leadership team and manufacturing at its South Bend address.
Iron Path Capital-backed CPIhealth acquired Midwest Interventional Spine Specialists (M.I.S.S.) and Serenity Surgical Center to expand its interventional pain management footprint in northwest Indiana and nearby Illinois. The partnership adds two clinics and an ambulatory surgery center (ASC) to CPIhealth’s existing Indiana operations and brings five physicians and two nurse practitioners onto its platform.
World Insurance Associates acquired the business of Heuring Crop Insurance on November 1, 2025. Heuring Crop Insurance provides crop insurance coverage to farmers and ranchers throughout the Midwest and the United States.
Providity Technology Solutions, LLC announced it acquired boutique Salesforce consulting firm Design First, LLC. The acquisition was completed on April 1, 2026, expanding Providity’s Salesforce CPQ and Revenue Cloud expertise and adding Design First’s senior talent and Logik.ai configuration capabilities.
Fiducient Advisors, a division of Wealthspire, has completed its acquisition of Axia Advisory, an Indianapolis-based retirement plan consulting and investment advisory firm with about $1.9 billion in assets under management or advisement (as of end of 2025). Axia will continue operating from its Indianapolis office while gaining access to Wealthspire’s institutional resources, research capabilities, and integrated wealth solutions.
Ara Partners announced an investment of up to $500 million in Sedron Technologies to accelerate its waste upcycling projects and expand manufacturing and deployment capabilities across North America. Sedron’s Varcor technology converts municipal biosolids and agricultural manure into reclaimed water, renewable energy, and carbon-negative fertilizer products.
Harrell-Fish, LLC (HFI) acquired Ecofriendly Mechanical, a family-owned sustainable HVAC and plumbing contractor based in Bloomington, Indiana. The companies said the deal will enhance Harrell-Fish’s capabilities in energy-efficient mechanical solutions while Ecofriendly’s management team—including CEO Andy Hardisty—will remain in place. Financial terms were not disclosed.
Sun Auto Tire & Service added “Carmerica in Sellersburg, Indiana” to the Sun Auto Network on April 6, marking its third store in Southern Indiana and expanding coverage in the Greater Louisville market. The acquisition supports Sun Auto’s strategy of growing via established operators, offering added tools such as 24/7 online appointment scheduling and digital vehicle inspections.
OIA Global announced the acquisition of Cargo Services, Inc. (CSI), an international freight forwarding and customs brokerage firm headquartered in Indianapolis, Indiana. The deal is intended to expand OIA’s freight forwarding and customs brokerage capabilities by establishing a direct OIA presence in the U.S. Midwest, particularly around Indianapolis.
Foster & Foster Consulting Actuaries, Inc. completed its acquisition of United Actuarial Services, Inc. (UAS), an Indiana-based actuarial consulting firm serving multi-employer (Taft-Hartley) pension and health and welfare plans. The deal expands Foster & Foster’s depth of resources and reinforces its position in Taft-Hartley pension and health practice groups nationwide.
PairSoft announced it has acquired Nimbello, an accounts payable automation and payments provider specializing in purchase-order-based invoice matching. The acquisition enhances PairSoft’s native ERP integrations (including Microsoft Dynamics 365, SAP, NetSuite, Oracle, Sage Intacct, and others) and adds Nimbello’s AI capabilities for invoice processing and general ledger coding.
Solution Tree acquired Dirigo Literacy to expand its K–12 evidence-based literacy solutions for schools, districts, and state education systems. The deal adds Dirigo Literacy’s research-intensive Dirigo Literacy Framework (Upward Spiral of Literacy), focused on professional development, coaching, instructional materials, and data-driven decision making to improve student reading and writing outcomes.
Aecon Group’s subsidiary, Aecon Utilities Group Inc., acquired Duna Services, LLC and its subsidiaries Arc American, LLC and C.A. Advanced, LLC, and also purchased a 49% interest in KNX Utility Services, LLC. The base purchase price is US$60 million, with potential additional contingent proceeds, financed via Aecon Utilities’ standalone committed revolving credit facility.
ASA Safety Supply, a portfolio company of Trivest Partners, has announced the acquisition of Indiana Safety & Supply (ISS), a Washington, Indiana-based distributor of PPE and facility safety products. The deal is intended to expand ASA Safety’s geographic footprint and increase purchasing scale, supporting broader private-label product offerings across the ASA Safety platform.
Cal-Maine Foods, Inc. announced it will acquire the shell egg, egg products, and prepared foods assets of Creighton Brothers LLC, including Crystal Lake LLC, for approximately $128.5 million in cash (subject to post-closing adjustments). The deal adds Creighton’s Warsaw, Indiana operations—covering shell egg production/grading capacity and ready-to-use egg products—fully integrating them into Cal-Maine’s existing network.
LER TechForce completed its previously announced acquisition of the Resource Solution division from Siemens’ Altair business unit. The deal expands LER TechForce’s engineering workforce solutions and resource support services by transferring customer contracts and onboarding the professionals supporting the division.
WalkerHughes, a founder-led retail insurance brokerage headquartered in Indianapolis, Indiana, announced its expansion into Illinois through the acquisition of Benhoff Insurance Agency. Benhoff Insurance Agency is a personal lines brokerage based in Breese, Illinois, and will continue operating under the WalkerHughes brand.
WalkerHughes Insurance, a founder-led retail insurance brokerage headquartered in Indianapolis, announced its expansion into Ohio via the acquisition of Sacksteder Worland Insurance Agency, based in Tiffin, Ohio. The deal marks WalkerHughes’ fourth state of operation and will keep the Tiffin office serving local clients under the WalkerHughes brand, with the seller remaining actively involved.
Power Sustainable Infrastructure Credit (PSIC) has closed an $85 million senior secured financing for Sagepoint Energy, a vertically integrated renewable natural gas (RNG) platform. The financing is intended to expand Sagepoint’s landfill RNG asset base to increase RNG production capacity and support methane abatement outcomes.
Bradford Health Services has acquired Parkdale Center, a Chesterton, Indiana addiction treatment provider specializing in confidential care for licensed professionals. The acquisition expands Bradford’s clinical footprint into the Midwest and preserves Parkdale’s specialized Professionals Program and continuum of care services.
Turning Rock Partners announced its majority exit from AmeriQual Group Holdings, LLC through a growth recapitalization. AmeriQual, headquartered in Evansville, Indiana, develops, packages, and distributes shelf-stable, refrigerated, and frozen foods, sauces, and condiments for branded food companies, government agencies, and educational institutions.
L Squared Capital Partners acquired Functional Devices, Inc. (FDI), a provider of “ready-to-use” field devices for building automation and emergency lighting systems, anchored by the RIB (Relay in a Box) brand. The deal includes investment alongside FDI management and positions L Squared to build a scaled building automation platform and pursue additional add-on acquisitions in peripheral components.
Cornerstone Capital Holdings acquired the Transportation Division of Dynamic Metals, LLC. The division has been renamed Dynamic Transit Products, LLC (DTP) and operations will move from Elkhart, Indiana to a standalone facility in Goshen, Indiana.
HKW, a middle-market private equity firm, acquired Handling Systems and Conveyors, Inc. (HSC). HSC is a vertically integrated designer, manufacturer, installer, and service provider of crane, hoist, conveyor, and tooling solutions serving aerospace & defense, industrial manufacturing, and transportation end markets.
An affiliate of Lone Star Funds completed an all-cash take-private acquisition of Hillenbrand, Inc. for an enterprise value of approximately $3.8 billion. Hillenbrand’s common stock ceased trading and will be delisted from the New York Stock Exchange, while the company will continue operating under the Hillenbrand name.
Jack Omer, grandson of Lee's co-founder Harold Omer, has acquired five existing Lee's Famous Recipe Chicken franchise restaurants across Indiana, including units in Connersville, Muncie and Richmond (and an earlier purchase in New Castle). The acquisitions are part of a multi-unit growth strategy that includes remodels to update locations to current brand standards and expand the franchisee's footprint in central Indiana.
Alliance RV, LLC has acquired Midwest Automotive Designs from Terex Corporation (previously part of REV Group). The transaction transfers the Elkhart-based luxury B‑van and motorhome conversion business to Alliance RV as the buyer expands into the motorized recreational-vehicle segment.
CIC Partners has realized its investment in American College of Education (ACE) and sold the company to Bain Capital Double Impact, with the transaction completing in Q4 2025. ACE is an accredited online private college headquartered in Indianapolis that serves adult and professional learners across education, healthcare and business programs; financial terms were not disclosed.
Littlejohn & Co., a Greenwich, Connecticut-based private investment firm, acquired 80/20, a provider of premium, configurable modular framing solutions, from MPE Partners. Terms were not disclosed. The deal was positioned by Littlejohn as a platform investment to expand 80/20’s capabilities and geographic reach.
Littlejohn & Co. acquired 80/20, a modular T-slot aluminum framing manufacturer based in Columbia City, Indiana. The transaction was completed from MPE Partners to Littlejohn & Co.
Simplicity Group, a holistic financial planning and advisor partner platform, has acquired Indianapolis-based Source Brokerage, a disability insurance specialist broker general agency (BGA). The acquisition expands Simplicity's national disability insurance (DI) capabilities and adds specialized institutional-market expertise (including GME and GSI programs), while Source Brokerage founder Steve Crowe joins Simplicity as a partner.
Matt Bowers Automotive Group acquired Bill Estes Chrysler Dodge Jeep Ram in Brownsburg, Indiana from Asbury Automotive Group, closing on February 2, 2026. The acquisition is Matt Bowers Automotive Group's first Indiana location and expands its Chrysler Dodge Jeep Ram franchise footprint while bringing the dealership into operation as Indy Chrysler Dodge Jeep Ram.
Full Export
Get the full acquisitions list for this page as CSV + XLSX.
Turn current acquisition activity in Indiana into an outreach-ready buyer list.