Acquisitions in Iowa in 2019

Raven Industries (NASDAQ: RAVN) acquired Smart Ag Inc., a developer of autonomous farming solutions headquartered in Ames, Iowa, to bolster its Raven Autonomy strategic growth platform and integrate Smart Ag into its Applied Technology division. The deal expands Raven's autonomous and perception/path-planning capabilities for OEM partners and large-scale agricultural retailers and brings Smart Ag's retrofit kits, software platform and dealer network into Raven's precision-ag portfolio.

365 Retail Markets, a Providence Equity Partners-backed provider of self-service commerce technology, has acquired FullCount, a cloud-based POS software platform for senior living communities. FullCount is headquartered in Ankeny, Iowa and is trusted by over 500 senior living communities; the acquisition expands 365 Retail Markets' capabilities and vertical reach into senior living dining and resident commerce.

CORDENTAL Group Management, a portfolio company of NMS Capital, has acquired AppleWhite Dental (AppleWhite Dental Partners) from Tonka Bay Equity Partners; terms were not disclosed. Headquartered in Dubuque, Iowa, AppleWhite supports over 150 dentists and hygienists across 35 offices in Iowa, Wisconsin, Illinois and Minnesota, and the deal expands CORDENTAL's Midwest footprint and scale as an add-on to its platform.

iSolved HCM, an Accel-KKR portfolio company, has acquired HK Payroll Services Inc. (HKP), a Dubuque, Iowa-based payroll services provider. The acquisition brings HKP customers and staff onto the iSolved platform—providing access to iSolved's payroll, HR, time tracking and learning tools—and represents an add-on to iSolved's HCM platform footprint in the Midwest.

Americold Realty Trust (NYSE: COLD) has closed its acquisition of privately-held Chiller Holdco, LLC ("Cloverleaf Cold Storage"), adding a 22-facility portfolio (21 owned, 1 managed) totaling 132 million refrigerated cubic feet. The acquisition increases Americold's portfolio to over one billion refrigerated cubic feet and expands its temperature-controlled warehousing footprint and capabilities.

Orion Food Systems and Land Mark Products have entered a definitive merger agreement to create a combined foodservice company serving convenience store operators; the transaction is backed by an affiliate of One Rock Capital Partners. Land Mark owners will remain investors and continue in leadership roles while the combined company will offer an expanded portfolio of pizza, sandwich and prepared-food solutions across more markets. Financial terms were not disclosed.

NeoNova, an NRTC company, has acquired SecurityCoverage, a Cedar Rapids–based provider of 24/7 help desk, technical support and cybersecurity solutions. SecurityCoverage will operate as a wholly owned subsidiary of NeoNova and retain its headquarters in Cedar Rapids, Iowa; financial terms were not disclosed. The deal expands NeoNova’s managed broadband and support capabilities for rural telecom and cable providers.

Benson Hill Biosystems has acquired the assets of Schillinger Genetics (also known as eMerge Genetics), an Iowa-based developer of high-protein, non-GMO soybean varieties. Benson Hill will integrate Schillinger's germplasm and breeding expertise into its Seeds & Traits business and use its CropOS platform and gene editing capabilities to accelerate development of expanded soybean portfolios for human food and animal feed markets.

First Mercantile Trust Company, a subsidiary of EdgeCo Holdings, has completed the acquisition of American Trust Retirement from American Trust & Savings Bank. The deal brings ATR's recordkeeping, collective investment trust, and discretionary trustee capabilities into EdgeCo's retirement platform to expand national coverage, capabilities, and service offerings for financial intermediaries and small- to mid-market plan sponsors.

OT Growth Partners, a portfolio company of Kian Capital, has acquired FIT Enterprise, the Orangetheory Fitness area developer for Iowa. The deal brings seven operating studios (with additional studios under development) into OT Growth Partners' platform and expands its footprint in the Midwest; terms were not disclosed.

Chicago-based private equity firm May River Capital has completed the acquisition of Marion Process Solutions, a Marion, Iowa manufacturer of industrial mixers, blenders and microwave vacuum drying systems. The deal—terms undisclosed—transfers ownership from longtime owners Barry Boyer and Jim Hoke to May River, which intends to use Marion as the first building block of a new materials processing solutions platform and to support the company’s growth under existing management.