Acquisitions in Kansas in 2020

BFG Supply, a portfolio company of Incline Equity Partners, has acquired Gard'N-Wise Distributors, a regional distributor of lawn & garden products and greenhouse equipment. The deal is an add-on acquisition that expands BFG's geographic footprint and distribution capabilities across the Midwest, Southwest and Mountain West regions.

BERKS Group announced an investment in Natoma Manufacturing LLC, a precision parts manufacturer based in Norton, Kansas. The investment expands BERKS Group's precision manufacturing platform (which includes Swiss-Tech and IDC) and is intended to increase capacity, hire additional staff, and broaden Natoma's presence in aerospace and defense markets.

Shore Capital Partners completed a recapitalization of Old World Spices and Seasonings, a custom spice, seasoning and ingredient manufacturer based in Overland Park, Kansas. Shore will partner with management to invest in business development, R&D, sales and production infrastructure and pursue organic growth and inorganic consolidation through add-on acquisitions.

Altium Packaging has acquired the assets of SFB Plastics, Inc., a Wichita, Kansas-based HDPE blow molder and industrial container manufacturer with nearly 50 years of history. The acquisition adds blow-molding capacity and experienced employees to Altium’s North American packaging network and expands its industrial container capabilities.

Velocity, a managed services company headquartered in Holland, Ohio, has acquired CTI Solutions, a digital signage and content management technology company based in Overland Park, Kansas. The acquisition is intended to strengthen Velocity’s in-house SaaS development capabilities and expand its digital signage, CMS and interactive touchless solution offerings for hospitality, healthcare, retail and entertainment customers.

Chesterfield, Missouri-based Swizznet, a cloud-hosting and accounting-focused software provider in the Bluff Point Associates portfolio, has acquired Lenexa, Kansas-based RightSize Solutions, an outsourced IT and cybersecurity provider for independent registered investment advisers (RIAs). The deal expands Swizznet's cybersecurity, compliance and managed-technology offerings for the financial services and accounting markets as an add-on to its existing platform.

World Insurance Associates LLC (WIA) acquired LIA Great Bend, Inc., which does business as Alliance Insurance Group of Salina, Kansas, on November 1, 2020; terms were not disclosed. Alliance is a regional property & casualty insurance agency operating 14 offices across Kansas and Oklahoma offering homeowners, personal auto, workers' compensation and commercial package lines; WIA said it will provide resources to support Alliance's continued organic and acquisitive growth.

Bold Penguin has entered into a definitive agreement to acquire RiskGenius, an AI-driven insurance document intelligence SaaS provider. The acquisition adds RiskGenius's data and analytics products and team to Bold Penguin’s commercial insurance SaaS platform to accelerate policy analysis and quoting capabilities.

Odyssey Investment Partners has agreed to acquire ProPharma Group from Linden Capital Partners. ProPharma Group, a global provider of regulatory, compliance, pharmacovigilance and medical information services headquartered in Overland Park, Kansas, will be led by CEO Dawn Sherman and the existing management team who are reinvesting alongside Odyssey to pursue organic and inorganic growth.

TT Electronics has agreed to acquire Torotel, a US designer and manufacturer of high-reliability power and magnetic assemblies for the aerospace and defense markets, for $43.4 million. The acquisition expands TT's power electronics capabilities and US footprint, and Torotel will be integrated as a wholly owned subsidiary subject to shareholder and regulatory approvals.

OakLeaf Software, Inc., led by retired Rear Admiral Mark Heinrich, has acquired DPRA, a 60-year-old provider of custom software, environmental analysis and public sector consulting headquartered in Manhattan, Kansas. The combined company will increase investment in cloud-based enterprise software and augment leadership, with DPRA's CEO Denis O'Keefe stepping down to a board role and new senior hires added to the leadership team.

World Insurance Associates LLC (WIA) acquired Peoples/Commercial Insurance Services, LLC (d/b/a Peoples Insurance Group) of Topeka, Kansas, effective August 1, 2020. The local independent agency — founded in 1917 and offering personal, commercial, life and bond insurance lines — will continue to be led by its existing principals who will remain with the business as part of WIA's agency roll-up.

Waystar announced a definitive agreement to acquire eSolutions, a revenue cycle technology company known for Medicare-specific solutions and broad payer connectivity. The acquisition brings eSolutions' Medicare connectivity and analytics into Waystar's cloud payments platform, enabling a single system for commercial and government payers; eSolutions was backed by Francisco Partners.

Spire Capital Partners completed a majority recapitalization investment in DBI (DBI Group / DBI, Inc.), a Lenexa, Kansas-based provider of nondestructive testing, mechanical integrity and pipeline inspection services. Spire simultaneously merged DBI with its existing portfolio company ERI Solutions to create a larger U.S. testing, inspection, certification and compliance services platform led by ERI's CEO.

Gen Cap America, a Nashville-based private equity firm, has acquired TFM Services, a Wichita-based facilities maintenance company, in partnership with TFM management. Terms were not disclosed; Gen Cap said it will partner with the existing management team to grow TFM across the region and continue its service offerings in janitorial, floor maintenance and related facility services.

Corsair Capital LLC has entered into a definitive agreement to acquire MSTS (Multi Service Technology Solutions), a global B2B payments and credit solutions provider, from World Fuel Services Corporation. Corsair plans to operate MSTS as a standalone business to accelerate its technology platform, expand product offerings and geographic footprint, and capitalize on growth in the B2B payments market.

WellSky has agreed to a new capital partnership that adds Leonard Green & Partners alongside existing investor TPG Capital, with TPG making a new equity investment and creating a new capital structure for the company. The recapitalization is intended to accelerate WellSky's technology innovation and expansion across the post-acute and community care continuum; terms were not disclosed and the deal was expected to close in Q3 2020.

OEConnection (OEC) has acquired NuGenIT, Inc., a Kansas City–area software firm that provides workflow, claims processing and information-management tools for the collision repair and insurance industries. The purchase brings NuGenIT's collision-repair expertise and SaaS-based workflow solutions into OEC's suite of OEM/dealer and collision offerings to strengthen OEC's collision business.

Creative Planning, an independent wealth management firm based in Overland Park, Kansas, acquired Sunrise Advisors, a Leawood, Kansas-based registered investment adviser managing approximately $700 million in AUM. The deal brings Sunrise’s advisors and clients into Creative Planning’s platform to expand its Kansas City presence and add wealth management capabilities and talent.

Stewart Information Services Corporation acquired United States Appraisals to strengthen its digital mortgage fulfillment and valuation management capabilities, adding national appraisal expertise and the Valuguard mobile inspection technology. The deal (with Berkery Noyes as exclusive financial advisor to United States Appraisals) expands Stewart's appraisal and valuation offerings for lenders, banks, investors and mortgage industry partners.

Fusion Health has completed the acquisition of 100% of the voting and non-voting shares of Kalos, Inc., a Topeka-based provider of pharmacy management software for retail pharmacies, universities and correctional facilities. The deal will allow Fusion to expand and diversify its product offerings and market reach within corrections and other institutional healthcare settings; Kalos will continue operating under its brand as a Fusion subsidiary with staff remaining in Topeka.

Creative Planning, Inc., a large independent Registered Investment Adviser, has acquired Coe Financial Services, an RIA based in Wichita, Kansas, bringing roughly $126 million of client assets into Creative Planning and establishing a Wichita office. The acquisition adds Richard Coe and his team to Creative Planning and expands the firm's geographic footprint and advisory capabilities in the region.

Motivity Capital Partners and Farragut Capital Partners have closed an investment in Bling Boutique LLC, an 11-store women's apparel and accessories boutique chain based in Wichita, Kansas. Founders Nicole Hedges-Campos and Mark Campos will continue to run the company as the investors provide growth capital to support the next phase of expansion in secondary and tertiary markets.

Cadence Aerospace, a portfolio company of Arlington Capital Partners, has acquired Premier Processing, a Wichita-based provider of surface finishing and special processing for aerospace and defense customers. The add-on acquisition expands Cadence's specialty processing capabilities and will leverage Premier's facility and management team to support broader Cadence operations and customer base.

General Atlantic, a global growth equity firm, has made a strategic minority investment in Creative Planning. Creative Planning CEO Peter Mallouk will remain CEO and retain a majority controlling stake; financial terms were not disclosed. The investment is positioned to support Creative Planning's continued expansion of its wealth management platform (Creative Planning manages approximately $50 billion AUM and ~650 employees across 27 offices).

OneDigital has acquired Resources Investment Advisors, LLC, an Overland Park, Kansas-based SEC-registered retirement plan and investment advisory firm founded in 1987. The deal expands OneDigital's capabilities by integrating retirement plan consulting and wealth management with its healthcare benefits offering to deliver a holistic employee wellbeing solution.

Stone Canyon Industries Holdings LLC agreed to acquire Kissner Group Holdings LP, a leading North American producer and supplier of rock, specialty and evaporated salt. Sellers included Metalmark Capital Holdings LLC and Silvertree-KMC II LP; terms were not disclosed in the initial announcement and the deal subsequently closed at approximately $2.0 billion.

RCap Equity Partners acquired a controlling interest in TriStar Event Media, LLC, a Kansas-based provider of event marketing and media services for healthcare associations. RCap said it will partner with TriStar’s management to expand the company’s products and services and drive growth.

Economic Group Pension Services (EGPS), a national retirement plan consulting and administration firm, acquired Qualified Plan Solutions LC of Wichita, Kansas effective January 1, 2020. The transaction expands EGPS’s Midwest presence; former owner Scott Slagle joins EGPS as Regional Vice President for the Wichita office.